Agency Information Collection Activities: Notice of Intent To Renew Collection Numbers 3038-0068 and 3038-0083: Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship Documentation Requirements for Swap Dealers and Major Swap Participants, 18521-18522 [2019-08809]
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Federal Register / Vol. 84, No. 84 / Wednesday, May 1, 2019 / Notices
species or stocks for taking for
subsistence purposes.
Endangered Species Act (ESA)
Section 7(a)(2) of the Endangered
Species Act of 1973 (ESA: 16 U.S.C.
1531 et seq.) requires that each Federal
agency insure that any action it
authorizes, funds, or carries out is not
likely to jeopardize the continued
existence of any endangered or
threatened species or result in the
destruction or adverse modification of
designated critical habitat. To ensure
ESA compliance for the issuance of
IHAs, NMFS consults internally, in this
case with the Alaska Regional Office
(AKRO) whenever we propose to
authorize take for endangered or
threatened species.
NMFS is proposing to authorize take
of Mexico DPS humpback whales,
which are listed and Western DPS
Steller sea lions under the ESA. The
Permit and Conservation Division has
requested initiation of Section 7
consultation with the Alaska Regional
Office for the issuance of this IHA.
NMFS will conclude the ESA
consultation prior to reaching a
determination regarding the proposed
issuance of the authorization.
jbell on DSK30RV082PROD with NOTICES
Proposed Authorization
As a result of these preliminary
determinations, NMFS proposes to issue
an IHA to DPD’s for conducting for the
proposed pile driving and removal
activities for construction of the Hoonah
Berth II cruise ship terminal and
lightering float, Icy Strait, Hoonah
Alaska for one year, beginning June
2019, provided the previously
mentioned mitigation, monitoring, and
reporting requirements are incorporated.
A draft of the proposed IHA can be
found at https://
www.fisheries.noaa.gov/permit/
incidental-take-authorizations-undermarine-mammal-protection-act.
Request for Public Comments
We request comment on our analyses,
the proposed authorization, and any
other aspect of this Notice of Proposed
IHA for the proposed pile driving and
removal activities for construction of the
Hoonah Berth II cruise ship terminal
and lightering float. We also request
comment on the potential for renewal of
this proposed IHA as described in the
paragraph below. Please include with
your comments any supporting data or
literature citations to help inform our
final decision on the request for MMPA
authorization.
On a case-by-case basis, NMFS may
issue a one-year IHA renewal with an
expedited public comment period (15
VerDate Sep<11>2014
19:24 Apr 30, 2019
Jkt 247001
days) when (1) another year of identical
or nearly identical activities as
described in the Specified Activities
section is planned or (2) the activities
would not be completed by the time the
IHA expires and a second IHA would
allow for completion of the activities
beyond that described in the Dates and
Duration section, provided all of the
following conditions are met:
D A request for renewal is received no
later than 60 days prior to expiration of
the current IHA.
D The request for renewal must
include the following:
(1) An explanation that the activities
to be conducted under the proposed
Renewal are identical to the activities
analyzed under the initial IHA, are a
subset of the activities, or include
changes so minor (e.g., reduction in pile
size) that the changes do not affect the
previous analyses, mitigation and
monitoring requirements, or take
estimates (with the exception of
reducing the type or amount of take
because only a subset of the initially
analyzed activities remain to be
completed under the Renewal); and
(2) A preliminary monitoring report
showing the results of the required
monitoring to date and an explanation
showing that the monitoring results do
not indicate impacts of a scale or nature
not previously analyzed or authorized.
D Upon review of the request for
renewal, the status of the affected
species or stocks, and any other
pertinent information, NMFS
determines that there are no more than
minor changes in the activities, the
mitigation and monitoring measures
will remain the same and appropriate,
and the findings in the initial IHA
remain valid.
Dated: April 26, 2019.
Catherine G. Marzin,
Deputy Director, Office of Protected
Resources, National Marine Fisheries Service.
[FR Doc. 2019–08848 Filed 4–30–19; 8:45 am]
BILLING CODE 3510–22–P
COMMODITY FUTURES TRADING
COMMISSION
Agency Information Collection
Activities: Notice of Intent To Renew
Collection Numbers 3038–0068 and
3038–0083: Confirmation, Portfolio
Reconciliation, Portfolio Compression,
and Swap Trading Relationship
Documentation Requirements for
Swap Dealers and Major Swap
Participants
Commodity Futures Trading
Commission.
AGENCY:
PO 00000
Frm 00048
Fmt 4703
Sfmt 4703
ACTION:
18521
Notice.
The Commodity Futures
Trading Commission (‘‘CFTC’’ or
‘‘Commission’’) is announcing an
opportunity for public comment on the
proposed renewal of two collections of
certain information by the agency.
Under the Paperwork Reduction Act
(‘‘PRA’’), Federal agencies are required
to publish notice in the Federal Register
concerning each proposed collection of
information, including each proposed
extension of an existing collection of
information, and to allow 60 days for
public comment. This notice solicits
comments on the collections of
information mandated by Commission
regulations (Confirmation, Portfolio
Reconciliation, Portfolio Compression,
and Swap Trading Relationship
Documentation Requirements for Swap
Dealers and Major Swap Participants).
DATES: Comments must be submitted on
or before July 1, 2019.
ADDRESSES: You may submit comments,
identified by ‘‘Confirmation, Portfolio
Reconciliation, Portfolio Compression,
and Swap Trading Relationship
Documentation Requirements for Swap
Dealers and Major Swap Participants,’’
and Collection Numbers 3038–0068 and
3038–0083, by any of the following
methods:
• The Agency’s website, at https://
comments.cftc.gov/. Follow the
instructions for submitting comments
through the website.
• Mail: Christopher Kirkpatrick,
Secretary of the Commission,
Commodity Futures Trading
Commission, Three Lafayette Centre,
1155 21st Street NW, Washington, DC
20581.
• Hand Delivery/Courier: Same as
Mail above.
Please submit your comments using
only one method. All comments must be
submitted in English, or if not,
accompanied by an English translation.
Comments will be posted as received to
https://www.cftc.gov.
FOR FURTHER INFORMATION CONTACT:
Gregory Scopino, Special Counsel,
Division of Swap Dealer and
Intermediary Oversight, Commodity
Futures Trading Commission, (202)
418–5175; email: gscopino@cftc.gov.
SUPPLEMENTARY INFORMATION: Under the
PRA, Federal agencies must obtain
approval from the Office of Management
and Budget (‘‘OMB’’) for each collection
of information they conduct or sponsor.
‘‘Collection of Information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR 1320.3
and includes agency requests or
requirements that members of the public
submit reports, keep records, or provide
SUMMARY:
E:\FR\FM\01MYN1.SGM
01MYN1
18522
Federal Register / Vol. 84, No. 84 / Wednesday, May 1, 2019 / Notices
jbell on DSK30RV082PROD with NOTICES
information to a third party. Section
3506(c)(2)(A) of the PRA, 44 U.S.C.
3506(c)(2)(A), requires Federal agencies
to provide a 60-day notice in the
Federal Register concerning each
proposed collection of information,
including each proposed extension of an
existing collection of information,
before submitting the collection to OMB
for approval. To comply with this
requirement, the CFTC is publishing
notice of the proposed collections of
information—treated as a consolidated
collection—listed below.
Title: Confirmation, Portfolio
Reconciliation, Portfolio Compression,
and Swap Trading Relationship
Documentation Requirements for Swap
Dealers and Major Swap Participants
(OMB Control Nos. 3038–0068 and
3038–0083).1 This is a request for an
extension of currently approved
information collections.
Abstract: On September 11, 2012 the
Commission adopted Commission
regulations 23.500—23.505
(Confirmation, Portfolio Reconciliation,
Portfolio Compression, and Swap
Trading Relationship Documentation
Requirements for Swap Dealers and
Major Swap Participants) 2 under
sections 4s(f), (g) and (i) 3 of the
Commodity Exchange Act (‘‘CEA’’).
Commission regulations 23.500—23.505
require, among other things, that swap
dealers (‘‘SDs’’) 4 and major swap
participants (‘‘MSPs’’) 5 develop and
retain written swap trading relationship
documentation. The regulations also
establish requirements for SDs and
MSPs regarding swap confirmation,
portfolio reconciliation, and portfolio
compression. Under the regulations,
swap dealers and major swap
participants are obligated to maintain
records of the policies and procedures
required by the rules.6 Confirmation,
1 Historically, PRA Collections 3038–0068, 3038–
0083, and 3038–0088, which impose interrelated
requirements, were renewed as a consolidated
collection. See 81 FR 6241 (Feb. 5, 2016). However,
on April 1, 2019, the CFTC published an interim
final rule (IFR), which allows uncleared swaps to
retain its legacy status when transferred in
connection with a no-deal Brexit. See 84 FR 12233.
This IFR directly affects the calculation of burdens
in PRA Collection 3038–0088. Accordingly, the
proposed renewal now treats collections 3038–0068
and 3038–0083 as a consolidated collection, with
collection 3038–0088 being considered separately.
2 17 CFR 23.500–23.505.
3 7 U.S.C. 6s(f), (g) & (i).
4 For the definition of SD, see Section 1a(49) of
the CEA and Commission regulation 1.3, 7 U.S.C.
1a(49) and 17 CFR 1.3.
5 For the definitions of MSP, see Section 1a(33)
of the CEA and Commission regulation 1.3, 7 U.S.C.
1a(33) and 17 CFR 1.3.
6 SDs and MSPs are required to maintain all
records of policies and procedures in accordance
with Commission regulation 1.31, including
policies, procedures and models used for eligible
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19:24 Apr 30, 2019
Jkt 247001
portfolio reconciliation, and portfolio
compression are important post-trade
processing mechanisms for reducing
risk and improving operational
efficiency. The information collection
obligations imposed by the regulations
are necessary to ensure that each swap
dealer and major swap participant
maintains the required records of their
business activities and an audit trail
sufficient to conduct comprehensive
and accurate trade reconstruction. The
information collections contained in the
regulations are essential to ensuring that
swap dealers and major swap
participants document their swaps,
reconcile their swap portfolios to
resolve discrepancies and disputes, and
wholly or partially terminate some or all
of their outstanding swaps through
regular portfolio compression exercises.
The collections of information are
mandatory. An agency may not conduct
or sponsor, and a person is not required
to respond to, a collection of
information unless it displays a
currently valid OMB control number.
With respect to the collections of
information, the CFTC invites
comments on:
• Whether the proposed collections of
information are necessary for the proper
performance of the functions of the
Commission, including whether the
information will have a practical use;
• The accuracy of the Commission’s
estimate of the burdens of the proposed
collections of information, including the
validity of the methodology and
assumptions used;
• Ways to enhance the quality,
usefulness, and clarity of the
information to be collected; and
• Ways to minimize the burdens of
collection of information on those who
are to respond, including through the
use of appropriate automated electronic,
mechanical, or other technological
collection techniques or other forms of
information technology; e.g., permitting
electronic submission of responses.
You should submit only information
that you wish to make available
publicly. If you wish the Commission to
consider information that you believe is
exempt from disclosure under the
Freedom of Information Act, a petition
for confidential treatment of the exempt
information may be submitted according
to the procedures established in § 145.9
of the Commission’s regulations.7
The Commission reserves the right,
but shall have no obligation, to review,
master netting agreements and custody agreements
that prohibit custodian of margin from rehypothecating, repledging, reusing, or otherwise
transferring the funds held by the custodian.
7 17 CFR 145.9.
PO 00000
Frm 00049
Fmt 4703
Sfmt 4703
pre-screen, filter, redact, refuse or
remove any or all of your submission
from https://www.cftc.gov that it may
deem to be inappropriate for
publication, such as obscene language.
All submissions that have been redacted
or removed that contain comments on
the merits of the information collection
request will be retained in the public
comment file and will be considered as
required under the Administrative
Procedure Act and other applicable
laws, and may be accessible under the
Freedom of Information Act.
Burden Statement: The Commission
is revising its estimate of the burdens for
the collections to reflect the current
number of respondents and estimated
burden hours. The respondent burdens
for the collections are estimated to be as
follows:
• OMB Control No. 3038–0068
(Confirmation, Portfolio Reconciliation,
and Portfolio Compression
Requirements for Swap Dealers and
Major Swap Participants)
Number of Registrants: 101.
Estimated Average Burden Hours per
Registrant: 1,274.5.
Estimated Aggregate Burden Hours:
128,724.5.
Frequency of Recordkeeping: As
applicable.
• OMB Control No. 3038–0083
(Orderly Liquidation Termination
Provision in Swap Trading Relationship
Documentation for Swap Dealers and
Major Swap Participants)
Number of Registrants: 101.
Estimated Average Burden Hours per
Registrant: 270.
Estimated Aggregate Burden Hours:
27,270.
Frequency of Recordkeeping: As
applicable.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: April 26, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019–08809 Filed 4–30–19; 8:45 am]
BILLING CODE 6351–01–P
CONSUMER PRODUCT SAFETY
COMMISSION
Sunshine Act Meetings
Wednesday, May 8,
2019, 2:00 p.m.–3:00 p.m.
PLACE: Hearing Room 420, Bethesda
Towers, 4330 East-West Highway,
Bethesda, MD 20814.
STATUS: Commission Meeting—Open to
the Public.
MATTERS TO BE CONSIDERED: Decisional
Matter: Fees for Production of Records;
Technical Amendments.
TIME AND DATE:
E:\FR\FM\01MYN1.SGM
01MYN1
]]>Agencies
[Federal Register Volume 84, Number 84 (Wednesday, May 1, 2019)]
[Notices]
[Pages 18521-18522]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-08809]
=======================================================================
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Renew Collection Numbers 3038-0068 and 3038-0083: Confirmation,
Portfolio Reconciliation, Portfolio Compression, and Swap Trading
Relationship Documentation Requirements for Swap Dealers and Major Swap
Participants
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or
``Commission'') is announcing an opportunity for public comment on the
proposed renewal of two collections of certain information by the
agency. Under the Paperwork Reduction Act (``PRA''), Federal agencies
are required to publish notice in the Federal Register concerning each
proposed collection of information, including each proposed extension
of an existing collection of information, and to allow 60 days for
public comment. This notice solicits comments on the collections of
information mandated by Commission regulations (Confirmation, Portfolio
Reconciliation, Portfolio Compression, and Swap Trading Relationship
Documentation Requirements for Swap Dealers and Major Swap
Participants).
DATES: Comments must be submitted on or before July 1, 2019.
ADDRESSES: You may submit comments, identified by ``Confirmation,
Portfolio Reconciliation, Portfolio Compression, and Swap Trading
Relationship Documentation Requirements for Swap Dealers and Major Swap
Participants,'' and Collection Numbers 3038-0068 and 3038-0083, by any
of the following methods:
The Agency's website, at https://comments.cftc.gov/. Follow
the instructions for submitting comments through the website.
Mail: Christopher Kirkpatrick, Secretary of the
Commission, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581.
Hand Delivery/Courier: Same as Mail above.
Please submit your comments using only one method. All comments
must be submitted in English, or if not, accompanied by an English
translation. Comments will be posted as received to https://www.cftc.gov.
FOR FURTHER INFORMATION CONTACT: Gregory Scopino, Special Counsel,
Division of Swap Dealer and Intermediary Oversight, Commodity Futures
Trading Commission, (202) 418-5175; email: [email protected].
SUPPLEMENTARY INFORMATION: Under the PRA, Federal agencies must obtain
approval from the Office of Management and Budget (``OMB'') for each
collection of information they conduct or sponsor. ``Collection of
Information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3 and
includes agency requests or requirements that members of the public
submit reports, keep records, or provide
[[Page 18522]]
information to a third party. Section 3506(c)(2)(A) of the PRA, 44
U.S.C. 3506(c)(2)(A), requires Federal agencies to provide a 60-day
notice in the Federal Register concerning each proposed collection of
information, including each proposed extension of an existing
collection of information, before submitting the collection to OMB for
approval. To comply with this requirement, the CFTC is publishing
notice of the proposed collections of information--treated as a
consolidated collection--listed below.
Title: Confirmation, Portfolio Reconciliation, Portfolio
Compression, and Swap Trading Relationship Documentation Requirements
for Swap Dealers and Major Swap Participants (OMB Control Nos. 3038-
0068 and 3038-0083).\1\ This is a request for an extension of currently
approved information collections.
---------------------------------------------------------------------------
\1\ Historically, PRA Collections 3038-0068, 3038-0083, and
3038-0088, which impose interrelated requirements, were renewed as a
consolidated collection. See 81 FR 6241 (Feb. 5, 2016). However, on
April 1, 2019, the CFTC published an interim final rule (IFR), which
allows uncleared swaps to retain its legacy status when transferred
in connection with a no-deal Brexit. See 84 FR 12233. This IFR
directly affects the calculation of burdens in PRA Collection 3038-
0088. Accordingly, the proposed renewal now treats collections 3038-
0068 and 3038-0083 as a consolidated collection, with collection
3038-0088 being considered separately.
---------------------------------------------------------------------------
Abstract: On September 11, 2012 the Commission adopted Commission
regulations 23.500--23.505 (Confirmation, Portfolio Reconciliation,
Portfolio Compression, and Swap Trading Relationship Documentation
Requirements for Swap Dealers and Major Swap Participants) \2\ under
sections 4s(f), (g) and (i) \3\ of the Commodity Exchange Act
(``CEA''). Commission regulations 23.500--23.505 require, among other
things, that swap dealers (``SDs'') \4\ and major swap participants
(``MSPs'') \5\ develop and retain written swap trading relationship
documentation. The regulations also establish requirements for SDs and
MSPs regarding swap confirmation, portfolio reconciliation, and
portfolio compression. Under the regulations, swap dealers and major
swap participants are obligated to maintain records of the policies and
procedures required by the rules.\6\ Confirmation, portfolio
reconciliation, and portfolio compression are important post-trade
processing mechanisms for reducing risk and improving operational
efficiency. The information collection obligations imposed by the
regulations are necessary to ensure that each swap dealer and major
swap participant maintains the required records of their business
activities and an audit trail sufficient to conduct comprehensive and
accurate trade reconstruction. The information collections contained in
the regulations are essential to ensuring that swap dealers and major
swap participants document their swaps, reconcile their swap portfolios
to resolve discrepancies and disputes, and wholly or partially
terminate some or all of their outstanding swaps through regular
portfolio compression exercises. The collections of information are
mandatory. An agency may not conduct or sponsor, and a person is not
required to respond to, a collection of information unless it displays
a currently valid OMB control number.
---------------------------------------------------------------------------
\2\ 17 CFR 23.500-23.505.
\3\ 7 U.S.C. 6s(f), (g) & (i).
\4\ For the definition of SD, see Section 1a(49) of the CEA and
Commission regulation 1.3, 7 U.S.C. 1a(49) and 17 CFR 1.3.
\5\ For the definitions of MSP, see Section 1a(33) of the CEA
and Commission regulation 1.3, 7 U.S.C. 1a(33) and 17 CFR 1.3.
\6\ SDs and MSPs are required to maintain all records of
policies and procedures in accordance with Commission regulation
1.31, including policies, procedures and models used for eligible
master netting agreements and custody agreements that prohibit
custodian of margin from re-hypothecating, repledging, reusing, or
otherwise transferring the funds held by the custodian.
---------------------------------------------------------------------------
With respect to the collections of information, the CFTC invites
comments on:
Whether the proposed collections of information are
necessary for the proper performance of the functions of the
Commission, including whether the information will have a practical
use;
The accuracy of the Commission's estimate of the burdens
of the proposed collections of information, including the validity of
the methodology and assumptions used;
Ways to enhance the quality, usefulness, and clarity of
the information to be collected; and
Ways to minimize the burdens of collection of information
on those who are to respond, including through the use of appropriate
automated electronic, mechanical, or other technological collection
techniques or other forms of information technology; e.g., permitting
electronic submission of responses.
You should submit only information that you wish to make available
publicly. If you wish the Commission to consider information that you
believe is exempt from disclosure under the Freedom of Information Act,
a petition for confidential treatment of the exempt information may be
submitted according to the procedures established in Sec. 145.9 of the
Commission's regulations.\7\
---------------------------------------------------------------------------
\7\ 17 CFR 145.9.
---------------------------------------------------------------------------
The Commission reserves the right, but shall have no obligation, to
review, pre-screen, filter, redact, refuse or remove any or all of your
submission from https://www.cftc.gov that it may deem to be
inappropriate for publication, such as obscene language. All
submissions that have been redacted or removed that contain comments on
the merits of the information collection request will be retained in
the public comment file and will be considered as required under the
Administrative Procedure Act and other applicable laws, and may be
accessible under the Freedom of Information Act.
Burden Statement: The Commission is revising its estimate of the
burdens for the collections to reflect the current number of
respondents and estimated burden hours. The respondent burdens for the
collections are estimated to be as follows:
OMB Control No. 3038-0068 (Confirmation, Portfolio
Reconciliation, and Portfolio Compression Requirements for Swap Dealers
and Major Swap Participants)
Number of Registrants: 101.
Estimated Average Burden Hours per Registrant: 1,274.5.
Estimated Aggregate Burden Hours: 128,724.5.
Frequency of Recordkeeping: As applicable.
OMB Control No. 3038-0083 (Orderly Liquidation Termination
Provision in Swap Trading Relationship Documentation for Swap Dealers
and Major Swap Participants)
Number of Registrants: 101.
Estimated Average Burden Hours per Registrant: 270.
Estimated Aggregate Burden Hours: 27,270.
Frequency of Recordkeeping: As applicable.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: April 26, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019-08809 Filed 4-30-19; 8:45 am]
BILLING CODE 6351-01-P
