The function of Ensembl gene identifier ENSG00000243056 (EIF4EBP3, eukaryotic translation initiation factor 4E binding protein 3) is as follows. Repressor of translation initiation that regulates EIF4E activity by preventing its assembly into the eIF4F complex: the hypophosphorylated form competes with EIF4G1/EIF4G3 and strongly binds to EIF4E, leading to repression of translation. In contrast, the hyperphosphorylated form dissociates from EIF4E, allowing interaction between EIF4G1/EIF4G3 and EIF4E, leading to initiation of translation (By similarity). Inhibits EIF4E-mediated mRNA nuclear export (PubMed:22684010). {ECO:0000250|UniProtKB:Q13541, ECO:0000269|PubMed:22684010}.