Agency Information Collection Activities: Notice of Intent To Revise Collection Number 3038-0088: Swap Documentation, 51065-51066 [2022-17840]

Download as PDF Federal Register / Vol. 87, No. 160 / Friday, August 19, 2022 / Notices 7510–01–431–6523—Felt Stamp Pad, Size #2, 3 1/4″ x 6 1/4″, Black 7510–01–431–6524—Foam Stamp Pad, Size #3, 4 1/2″ x 7 1/2″, Black 7510–01–431–6525—Foam Stamp Pad, Size #1, 2 3/4″ x 4 1/2″, Black 7510–01–431–6526—Foam Stamp Pad, Size #3, 4 1/2″ x 7 1/2″, Red 7510–01–431–8625—Felt Stamp Pad, Size#2 3 1/4″ x 6 1/4″, Red 7520–00–117–5627—Fingerprint Pad— Size#1, 2–3/4″ x 4–1/2″, Black Designated Source of Supply: NYSARC, Inc., Cattaraugus Niagara Counties Chapter, Olean, NY Contracting Activity: GSA/FAS ADMIN SVCS ACQUISITION BR(2, NEW YORK, NY NSN(s)—Product Name(s): 7510–01–664–8785—DAYMAX System, 2021 Calendar Pad, Type I 7510–01–664–8814—DAYMAX System, 2021, Calendar Pad, Type II Designated Source of Supply: Anthony Wayne Rehabilitation Ctr for Handicapped and Blind, Inc., Fort Wayne, IN Contracting Activity: GSA/FAS ADMIN SVCS ACQUISITION BR(2, NEW YORK, NY NSN(s)—Product Name(s): MR 1014—Pad, Scrubber, Specialty MR 1015—Scrubber, Grout, Non-Scratch, Blue MR 1090—Scrub Brush with Eraser, Utility MR 1092—Scrub Brush with Eraser, Palm MR 1094—Refill, Scrub Brush with Eraser, Palm, 2PK Designated Source of Supply: Industries for the Blind and Visually Impaired, Inc., West Allis, WI Contracting Activity: Military Resale-Defense Commissary Agency lotter on DSK11XQN23PROD with NOTICES1 Service(s) Service Type: Janitorial/Custodial Mandatory for: VA Medical Center: Dental Laboratory, Washington, DC Designated Source of Supply: Columbia Lighthouse for the Blind, Washington, DC Contracting Activity: VETERANS AFFAIRS, DEPARTMENT OF, NAC Service Type: Furniture Design and Configuration Services Mandatory for: New Hampshire National Guard, 302 Newmarket Street, Newington, NH Designated Source of Supply: Industries for the Blind and Visually Impaired, Inc., West Allis, WI Contracting Activity: DEPT OF THE ARMY, W7NN USPFO ACTIVITY NH ARNG Michael R. Jurkowski, Acting Director, Business Operations. COMMODITY FUTURES TRADING COMMISSION COMMODITY FUTURES TRADING COMMISSION Public Availability of Fiscal Year 2020 Service Contract Inventory Agency Information Collection Activities: Notice of Intent To Revise Collection Number 3038–0088: Swap Documentation Commodity Futures Trading Commission. AGENCY: ACTION: Notice of availability. The Commodity Futures Trading Commission (CFTC) is publishing this notice to advise the public of the availability of CFTC’s Fiscal Year 2020 Service Contract Inventory. SUMMARY: FOR FURTHER INFORMATION CONTACT: Questions regarding the service contract inventory should be directed to Livia Bykov, Procurement Analyst, at 202– 418–5103 or lbykov@cftc.gov. In accordance with section 743 of division C of the Consolidated Appropriations Act of 2010, Public Law 111–117, 123 Stat. 3034, CFTC is publishing this notice to advise the public of the availability of the Fiscal Year (FY) 2020 Service Contract Inventory. CFTC has posted its inventory documents on the agency website at the following link: https://www.cftc.gov/About/ CFTCReports/index.htm. This inventory provides information on service contracts above the Simplified Acquisition Threshold ($150,000), as determined by the base and all options value, that were awarded in FY 2020. CFTC’s service contract inventory data is included in the government-wide inventory, which can be filtered to display the CFTCspecific data. A link to the governmentwide inventory is included in the posting on the CFTC website, or it can be accessed directly at https:// www.acquisition.gov/service-contractinventory. The inventory documents posted on the CFTC website also include the CFTC FY 2019 Service Contract Inventory Analysis (dated February 19, 2021). This report provides information about the Product Service Codes that the CFTC analyzed from the 2019 inventory. SUPPLEMENTARY INFORMATION: Dated: August 15, 2022. Christopher Kirkpatrick, Secretary of the Commission. [FR Doc. 2022–17813 Filed 8–18–22; 8:45 am] BILLING CODE 6351–01–P [FR Doc. 2022–17887 Filed 8–18–22; 8:45 am] BILLING CODE 6353–01–P VerDate Sep<11>2014 18:26 Aug 18, 2022 Jkt 256001 51065 PO 00000 Frm 00013 Fmt 4703 Sfmt 4703 Commodity Futures Trading Commission. ACTION: Notice. AGENCY: The Commodity Futures Trading Commission (‘‘CFTC’’ or ‘‘Commission’’) is announcing an opportunity for public comment on the proposed revisions to the 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 revision of an existing collection of information, and to allow 60 days for public comment. This notice solicits comments on certain collections of information mandated by subpart I of part 23 of the Commission’s Regulations (Swap Documentation). DATES: Comments must be submitted on or before October 18, 2022. ADDRESSES: You may submit comments, identified by ‘‘Swap Documentation,’’ and Collection Number 3038–0088 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: Dina Moussa, Attorney Advisor, Market Participants Division, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581, at (202) 418– 5696 or dmoussa@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 SUMMARY: E:\FR\FM\19AUN1.SGM 19AUN1 51066 Federal Register / Vol. 87, No. 160 / Friday, August 19, 2022 / Notices lotter on DSK11XQN23PROD with NOTICES1 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 revisions to 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 revision to an existing collection of information.1 Title: Swap Documentation (OMB Control No. 3038–0088).2 This is a request to revise a currently approved information collection. Abstract: On September 11, 2012, the Commission adopted Commission Regulations 23.500–23.505 3 under sections 4s(f), (g) and (i) 4 of the Commodity Exchange Act (‘‘CEA’’). Commission Regulations 23.500–23.505 require, among other things, that swap dealers (‘‘SDs’’) 5 and major swap participants (‘‘MSPs’’) 6 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, SDs and MSPs are obligated to maintain records of the policies and procedures required by the rules.7 Confirmation, portfolio reconciliation, and portfolio compression are important post-trade processing mechanisms for reducing risk and improving operational 1 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, 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8(b)(3)(vi). 2 The collections of information under OMB control numbers 3038–0068, 3038–0083, and 3038– 0088 are now consolidated under OMB control number 3038–0088, and OMB control numbers 3038–0068 and 3038–0083 have been withdrawn as of July 5, 2022. Concurrently with this change, the Commission has changed the name associated with OMB control number 3038–0088 to ‘‘Swap Documentation’’. 3 17 CFR 23.500–23.505. 4 7 U.S.C. 6s(f), (g) & (i). 5 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. 6 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. 7 SDs and MSPs are required to maintain all records of policies and procedures in accordance with Commission Regulations 23.203 and, by extension, 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. See 17 CFR 1.31 and 23.203. VerDate Sep<11>2014 18:26 Aug 18, 2022 Jkt 256001 efficiency. The information collection obligations imposed by the Regulations are necessary to ensure that each SD and MSP 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 also essential to ensuring that SDs and MSPs 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. These collections of information are mandatory. In this particular instance, the Commission is revising its aggregate burden for this information collection by removing the burden hour estimate on cleared swap recordkeeping, as this subcategory was proposed but not finalized by the Commission and its burden estimate had been included erroneously under this information collection in previous renewals.8 Additionally, in light of the increased number of Commission-registered SDs and MSPs, the total number of respondents (combined SDs and MSPs) is being increased to 108. The overall burden hours for each remaining category within the information collection have increased proportionally, to reflect the increase in the number of respondents. 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; 8 See 77 FR 55903 (Sept. 11, 2012) (The Commission has considered the commenters’ recommendation to delete the clearing record provisions of § 23.504(b)(6)(iii) and (iv) and agrees that there is no need to include in the trading documentation a record of the names of the clearing members for the SD, MSP, or counterparty. Once a swap is accepted for clearing, the identity of a counterparty’s clearing member is no longer relevant and requiring such a record has the possibility to undermine the anonymity of central clearing. Therefore, those provisions have been deleted from the final rule. Similarly, § 23.504(b)(6)(i) and (ii) have been removed because those records will be captured under the SD and MSP recordkeeping requirement, § 23.201(a)(3), and the Commission believes those records are sufficient.). PO 00000 Frm 00014 Fmt 4703 Sfmt 9990 • 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.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, for reasons 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: Based on the proposed revisions to the estimated aggregate burden as discussed above, the respondent burden for the collection is estimated to be as follows: • OMB Control No. 3038–0088 (Swap Documentation) Number of Registrants: 108. Estimated Average Burden Hours per Registrant: 7,324.5. Estimated Aggregate Burden Hours: 791,046. Frequency of Recordkeeping: As applicable. (Authority: 44 U.S.C. 3501 et seq.) Dated: August 15, 2022. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2022–17840 Filed 8–18–22; 8:45 am] BILLING CODE 6351–01–P 9 17 E:\FR\FM\19AUN1.SGM CFR 145.9. 19AUN1

Agencies

[Federal Register Volume 87, Number 160 (Friday, August 19, 2022)]
[Notices]
[Pages 51065-51066]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17840]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Revise Collection Number 3038-0088: Swap Documentation

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 revisions to the 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 revision of 
an existing collection of information, and to allow 60 days for public 
comment. This notice solicits comments on certain collections of 
information mandated by subpart I of part 23 of the Commission's 
Regulations (Swap Documentation).

DATES: Comments must be submitted on or before October 18, 2022.

ADDRESSES: You may submit comments, identified by ``Swap 
Documentation,'' and Collection Number 3038-0088 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: Dina Moussa, Attorney Advisor, Market 
Participants Division, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street NW, Washington, DC 20581, at (202) 
418-5696 or [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

[[Page 51066]]

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 revisions 
to 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 revision to an existing 
collection of information.\1\
---------------------------------------------------------------------------

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

    Title: Swap Documentation (OMB Control No. 3038-0088).\2\ This is a 
request to revise a currently approved information collection.
---------------------------------------------------------------------------

    \2\ The collections of information under OMB control numbers 
3038-0068, 3038-0083, and 3038-0088 are now consolidated under OMB 
control number 3038-0088, and OMB control numbers 3038-0068 and 
3038-0083 have been withdrawn as of July 5, 2022. Concurrently with 
this change, the Commission has changed the name associated with OMB 
control number 3038-0088 to ``Swap Documentation''.
---------------------------------------------------------------------------

    Abstract: On September 11, 2012, the Commission adopted Commission 
Regulations 23.500-23.505 \3\ under sections 4s(f), (g) and (i) \4\ of 
the Commodity Exchange Act (``CEA''). Commission Regulations 23.500-
23.505 require, among other things, that swap dealers (``SDs'') \5\ and 
major swap participants (``MSPs'') \6\ 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, SDs 
and MSPs are obligated to maintain records of the policies and 
procedures required by the rules.\7\
---------------------------------------------------------------------------

    \3\ 17 CFR 23.500-23.505.
    \4\ 7 U.S.C. 6s(f), (g) & (i).
    \5\ 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.
    \6\ 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.
    \7\ SDs and MSPs are required to maintain all records of 
policies and procedures in accordance with Commission Regulations 
23.203 and, by extension, 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. See 17 CFR 1.31 and 23.203.
---------------------------------------------------------------------------

    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 SD and MSP 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 also essential to ensuring that SDs and MSPs 
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. These collections of information are mandatory.
    In this particular instance, the Commission is revising its 
aggregate burden for this information collection by removing the burden 
hour estimate on cleared swap recordkeeping, as this subcategory was 
proposed but not finalized by the Commission and its burden estimate 
had been included erroneously under this information collection in 
previous renewals.\8\ Additionally, in light of the increased number of 
Commission-registered SDs and MSPs, the total number of respondents 
(combined SDs and MSPs) is being increased to 108. The overall burden 
hours for each remaining category within the information collection 
have increased proportionally, to reflect the increase in the number of 
respondents.
---------------------------------------------------------------------------

    \8\ See 77 FR 55903 (Sept. 11, 2012) (The Commission has 
considered the commenters' recommendation to delete the clearing 
record provisions of Sec.  23.504(b)(6)(iii) and (iv) and agrees 
that there is no need to include in the trading documentation a 
record of the names of the clearing members for the SD, MSP, or 
counterparty. Once a swap is accepted for clearing, the identity of 
a counterparty's clearing member is no longer relevant and requiring 
such a record has the possibility to undermine the anonymity of 
central clearing. Therefore, those provisions have been deleted from 
the final rule. Similarly, Sec.  23.504(b)(6)(i) and (ii) have been 
removed because those records will be captured under the SD and MSP 
recordkeeping requirement, Sec.  23.201(a)(3), and the Commission 
believes those records are sufficient.).
---------------------------------------------------------------------------

    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.\9\
---------------------------------------------------------------------------

    \9\ 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, for reasons 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: Based on the proposed revisions to the estimated 
aggregate burden as discussed above, the respondent burden for the 
collection is estimated to be as follows:

 OMB Control No. 3038-0088 (Swap Documentation)

    Number of Registrants: 108.
    Estimated Average Burden Hours per Registrant: 7,324.5.
    Estimated Aggregate Burden Hours: 791,046.
    Frequency of Recordkeeping: As applicable.

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

    Dated: August 15, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022-17840 Filed 8-18-22; 8:45 am]
BILLING CODE 6351-01-P
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