Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0102: Clearing Exemption for Certain Swaps Entered Into by Cooperatives, 50850-50851 [2022-17790]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES 50850 Federal Register / Vol. 87, No. 159 / Thursday, August 18, 2022 / Notices 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 renewal of the reporting requirement that is embedded in the final rule adopting the end-user exception to the Commission’s swap clearing requirement. DATES: Comments must be submitted on or before October 17, 2022. ADDRESSES: You may submit comments, identified by ‘‘Rule 50.50 End-User Notification of Non-Cleared Swap, OMB Control No. 3038–0085,’’ by any of the following methods: • The CFTC’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: Megan Wallace, Senior Special Counsel, (202) 418–5150, mwallace@cftc.gov; Daniel O’Connell, Special Counsel, (202) 418–5583, doconnell@cftc.gov; each of the Division of Clearing and Risk, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq., 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 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, VerDate Sep<11>2014 17:42 Aug 17, 2022 Jkt 256001 before submitting the collection to OMB for approval. To comply with this requirement, the CFTC is publishing notice of the proposed extension of the currently approved collection of information listed below. 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.1 Title: Rule 50.50 End-User Notification of Non-Cleared Swap (OMB Control No. 3038–0085). This is a request for an extension of a currently approved information collection. Abstract: CFTC Rule 50.50 specifies the requirements for eligible end-users who may elect the end-user exception from the Commission’s swap clearing requirement, as provided under section 2(h)(7) of the Commodity Exchange Act (‘‘CEA’’). Rule 50.50 requires the counterparties to report certain information to a swap data repository registered with the Commission, or to the Commission directly, if one or more counterparties elects the end-user exception. The rule establishes a reporting requirement for end-users that is critical to ensuring compliance with the Commission’s clearing requirement under section 2(h)(1) of the CEA and is necessary in order for Commission staff to prevent abuse of the end-user exception. In addition, this collection relates to information that the Commission needs to monitor elections of the end-user exception and to assess market risks. With respect to the collection of information, the CFTC invites comments on: • Whether the proposed collection of information is 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 burden of the proposed collection 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 burden 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 1 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8 (b)(3)(vi). PO 00000 Frm 00025 Fmt 4703 Sfmt 4703 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.2 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 burden for this collection for eligible end-users electing the end-user exception under CFTC Rule 50.50. The Commission is decreasing the estimated number of respondents from 1,600 to 1,200 based on an observed decrease in the number of entities electing the exception. The respondent burden for this collection is estimated to be as follows: Estimated Number of Respondents: 1,200. Estimated Average Burden Hours per Respondent: 0.58 hours. Estimated Total Annual Burden Hours: 696 hours. Frequency of Collection: On occasion; annually. There are no capital costs or operating and maintenance costs associated with this collection. (Authority: 44 U.S.C. 3501 et seq.) Dated: August 15, 2022. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2022–17791 Filed 8–17–22; 8:45 am] BILLING CODE 6351–01–P COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities: Notice of Intent To Extend Collection 3038–0102: Clearing Exemption for Certain Swaps Entered Into by Cooperatives Commodity Futures Trading Commission. ACTION: Notice. AGENCY: 2 17 E:\FR\FM\18AUN1.SGM CFR 145.9. 18AUN1 Federal Register / Vol. 87, No. 159 / Thursday, August 18, 2022 / Notices The Commodity Futures Trading Commission (‘‘CFTC’’ or ‘‘Commission’’) is announcing an opportunity for public comment on the proposed renewal of a collection 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 reporting requirements related to Commission regulation 50.51, which permits certain cooperatives to elect not to clear certain swaps that otherwise would be required to be cleared, provided that they meet certain conditions. DATES: Comments must be submitted on or before October 17, 2022. ADDRESSES: You may submit comments, identified by ‘‘Clearing Exemption for Certain Swaps Entered into by Cooperatives, OMB Control No. 3038– 0102,’’ 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: Megan Wallace, Senior Special Counsel, (202) 418–5150, mwallace@cftc.gov; Daniel O’Connell, Special Counsel, (202) 418–5583, doconnell@cftc.gov; each of the Division of Clearing and Risk, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581. SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq., 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 information to a third party. Section khammond on DSKJM1Z7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:42 Aug 17, 2022 Jkt 256001 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 extension of the currently approved collection of information listed below. 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.1 Title: Clearing Exemption for Certain Swaps Entered into by Cooperatives (OMB Control No. 3038–0102). This is a request for an extension of a currently approved information collection. Abstract: Section 2(h)(1)(A) of the Commodity Exchange Act (‘‘CEA’’) requires certain entities to submit swaps for clearing if they are required to be cleared by the Commission. Commission regulation 50.51 permits certain cooperatives to elect not to clear certain swaps that otherwise would be required to be cleared, provided that they meet certain conditions. The rule establishes a reporting requirement for cooperatives that is critical to ensuring compliance with the Commission’s clearing requirement under section 2(h)(1) of the CEA and is necessary in order for Commission staff to prevent abuse of the cooperative exemption. In addition, this collection relates to information that the Commission needs to monitor elections of the cooperative exemption and to assess market risks. With respect to the collection of information, the CFTC invites comments on: • Whether the proposed collection of information is 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 burden of the proposed collection 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 burden 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 1 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8 (b)(3)(vi). PO 00000 Frm 00026 Fmt 4703 Sfmt 4703 50851 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.2 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 anticipates that there will continue to be approximately 25 eligible respondents and the hourly burden will remain the same as in the 2019 renewal. The respondent burden for this collection is estimated to be as follows: Estimated Number of Respondents: 25. Estimated Average Burden Hours per Respondent: 1 hour. Estimated Total Annual Burden Hours: 25 hours. Frequency of Collection: On occasion; annually. There are no capital costs or operating and maintenance costs associated with this collection. (Authority: 44 U.S.C. 3501 et seq.) Dated: August 15, 2022 Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2022–17790 Filed 8–17–22; 8:45 am] BILLING CODE 6351–01–P BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB–2022–0048] Agency Information Collection Activities: Comment Request Bureau of Consumer Financial Protection. ACTION: Notice and request for comment. AGENCY: 2 17 E:\FR\FM\18AUN1.SGM CFR 145.9. 18AUN1

Agencies

[Federal Register Volume 87, Number 159 (Thursday, August 18, 2022)]
[Notices]
[Pages 50850-50851]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17790]


-----------------------------------------------------------------------

COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Extend Collection 3038-0102: Clearing Exemption for Certain Swaps 
Entered Into by Cooperatives

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

-----------------------------------------------------------------------

[[Page 50851]]

SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or 
``Commission'') is announcing an opportunity for public comment on the 
proposed renewal of a collection 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 reporting 
requirements related to Commission regulation 50.51, which permits 
certain cooperatives to elect not to clear certain swaps that otherwise 
would be required to be cleared, provided that they meet certain 
conditions.

DATES: Comments must be submitted on or before October 17, 2022.

ADDRESSES: You may submit comments, identified by ``Clearing Exemption 
for Certain Swaps Entered into by Cooperatives, OMB Control No. 3038-
0102,'' 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: Megan Wallace, Senior Special Counsel, 
(202) 418-5150, [email protected]; Daniel O'Connell, Special Counsel, 
(202) 418-5583, [email protected]; each of the Division of Clearing 
and Risk, Commodity Futures Trading Commission, Three Lafayette Centre, 
1155 21st Street NW, Washington, DC 20581.

SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq., 
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 
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 extension of the currently approved collection 
of information listed below. 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.\1\
---------------------------------------------------------------------------

    \1\ 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8 (b)(3)(vi).
---------------------------------------------------------------------------

    Title: Clearing Exemption for Certain Swaps Entered into by 
Cooperatives (OMB Control No. 3038-0102). This is a request for an 
extension of a currently approved information collection.
    Abstract: Section 2(h)(1)(A) of the Commodity Exchange Act 
(``CEA'') requires certain entities to submit swaps for clearing if 
they are required to be cleared by the Commission. Commission 
regulation 50.51 permits certain cooperatives to elect not to clear 
certain swaps that otherwise would be required to be cleared, provided 
that they meet certain conditions. The rule establishes a reporting 
requirement for cooperatives that is critical to ensuring compliance 
with the Commission's clearing requirement under section 2(h)(1) of the 
CEA and is necessary in order for Commission staff to prevent abuse of 
the cooperative exemption. In addition, this collection relates to 
information that the Commission needs to monitor elections of the 
cooperative exemption and to assess market risks.
    With respect to the collection of information, the CFTC invites 
comments on:
     Whether the proposed collection of information is 
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 burden of 
the proposed collection 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 burden 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.\2\
---------------------------------------------------------------------------

    \2\ 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 anticipates that there will 
continue to be approximately 25 eligible respondents and the hourly 
burden will remain the same as in the 2019 renewal. The respondent 
burden for this collection is estimated to be as follows:
    Estimated Number of Respondents: 25.
    Estimated Average Burden Hours per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 25 hours.
    Frequency of Collection: On occasion; annually.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

(Authority: 44 U.S.C. 3501 et seq.)

    Dated: August 15, 2022
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022-17790 Filed 8-17-22; 8:45 am]
BILLING CODE 6351-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.