Agency Information Collection Activities Under OMB Review, 64206-64207 [2022-23048]

Download as PDF 64206 Federal Register / Vol. 87, No. 204 / Monday, October 24, 2022 / Notices 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 FOIA. Burden Statement: Provisions of CFTC Regulations 45.2, 45.3, 45.4, 45.5, 45.6, 45.10, and 45.14 result in information collection requirements within the meaning of the PRA. With respect to the ongoing reporting and recordkeeping burdens associated with swaps, the CFTC believes that SDs, MSPs, SEFs, DCMs, DCOs, SDRs, and non-SD/MSP counterparties incur an annual time-burden of 1,276,705 hours. This time-burden represents a proportion of the burden respondents incur to operate and maintain their swap data recordkeeping and reporting systems. Respondents/Affected Entities: Swap Dealers, Major Swap Participants, SEFs, DCMs, DCOs, and other counterparties to a swap transaction (i.e., end-user, non-SD/non-MSP counterparties). Estimated number of respondents: 1,732. Estimated average burden hours per respondent: 737 hours.2 Estimated total annual burden hours on respondents: 1,276,705 hours. Frequency of collection: Ongoing. There are no capital costs or operating and maintenance costs associated with this collection. (Authority: 44 U.S.C. 3501 et seq.) Dated: October 19, 2022. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2022–23026 Filed 10–21–22; 8:45 am] BILLING CODE 6351–01–P COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities Under OMB Review Commodity Futures Trading Commission. ACTION: Notice. AGENCY: In compliance with the Paperwork Reduction Act of 1995 (‘‘PRA’’), this notice announces that the Information Collection Request (‘‘ICR’’) abstracted below has been forwarded to the Office of Information and Regulatory Affairs (‘‘OIRA’’), of the Office of lotter on DSK11XQN23PROD with NOTICES1 SUMMARY: 2 Average burden hours per respondent rounded to the nearest full hour. VerDate Sep<11>2014 17:07 Oct 21, 2022 Jkt 259001 Management and Budget (‘‘OMB’’), for review and comment. The ICR describes the nature of the information collection and its expected costs and burden. DATES: Comments must be submitted on or before November 23, 2022. ADDRESSES: Written comments and recommendations for the proposed information collection should be submitted within 30 days of this notice’s publication to OIRA, at https:// www.reginfo.gov/public/do/PRAMain. Please find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the website’s search function. Comments can be entered electronically by clicking on the ‘‘comment’’ button next to the information collection on the ‘‘OIRA Information Collections Under Review’’ page, or the ‘‘View ICR—Agency Submission’’ page. A copy of the supporting statement for the collection of information discussed herein may be obtained by visiting https:// www.reginfo.gov/public/do/PRAMain. In addition to the submission of comments to https://Reginfo.gov as indicated above, a copy of all comments submitted to OIRA may also be submitted to the Commodity Futures Trading Commission (the ‘‘Commission’’ or ‘‘CFTC’’) by clicking on the ‘‘Submit Comment’’ box next to the descriptive entry for OMB Control No. 3038–0085, at https:// comments.cftc.gov/FederalRegister/ PublicInfo.aspx. Or by either of the following methods: • 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. All comments must be submitted in English, or if not, accompanied by an English translation. Comments submitted to the Commission should include 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.1 The Commission reserves the right, but shall have no obligation, to review, prescreen, filter, redact, refuse or remove any or all of your submission from 1 17 PO 00000 2 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8 (b)(3)(vi). CFR 145.9. Frm 00008 Fmt 4703 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 ICR 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. 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: 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. 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 On August 18, 2022, the Commission published in the Federal Register notice of the proposed extension of this information collection and provided 60 days for public comment on the proposed extension, 87 FR 50849 (‘‘60-Day Notice’’). The Commission did not receive any comments on the 60-Day Notice. Burden Statement: The Commission is revising its estimate of the burden for Sfmt 4703 E:\FR\FM\24OCN1.SGM 24OCN1 Federal Register / Vol. 87, No. 204 / Monday, October 24, 2022 / Notices this collection to reflect the current number of respondents and estimated burden hours. 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: October 19, 2022. Robert Sidman, Deputy Secretary of the Commission. [FR Doc. 2022–23048 Filed 10–21–22; 8:45 am] BILLING CODE 6351–01–P COMMODITY FUTURES TRADING COMMISSION Agency Information Collection Activities Under OMB Review Commodity Futures Trading Commission. ACTION: Notice. AGENCY: In compliance with the Paperwork Reduction Act of 1995 (‘‘PRA’’), this notice announces that the Information Collection Request (‘‘ICR’’) abstracted below has been forwarded to the Office of Information and Regulatory Affairs (‘‘OIRA’’) of the Office of Management and Budget (‘‘OMB’’) for review and comment. The ICR describes the nature of the information collection and its expected costs and burden. DATES: Comments must be submitted on or before November 23, 2022. ADDRESSES: Written comments and recommendations for the proposed information collection should be submitted within 30 days of this notice’s publication to OIRA, at https:// www.reginfo.gov/public/do/PRAMain. Please find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the website’s search function. Comments can be entered electronically by clicking on the ‘‘comment’’ button next to the information collection on the ‘‘OIRA Information Collections Under Review’’ page, or the ‘‘View ICR—Agency Submission’’ page. A copy of the supporting statement for the collection of information discussed herein may be obtained by visiting https:// www.reginfo.gov/public/do/PRAMain. lotter on DSK11XQN23PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 17:07 Oct 21, 2022 Jkt 259001 In addition to the submission of comments to https://Reginfo.gov as indicated above, a copy of all comments submitted to OIRA may also be submitted to the Commodity Futures Trading Commission (the ‘‘Commission’’ or ‘‘CFTC’’) by clicking on the ‘‘Submit Comment’’ box next to the descriptive entry for OMB Control No. 3038–0088, at https:// comments.cftc.gov/FederalRegister/ PublicInfo.aspx. Or by either of the following methods: • 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. All comments must be submitted in English, or if not, accompanied by an English translation. Comments submitted to the Commission should include 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 (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 ICR 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. FOR FURTHER INFORMATION CONTACT: Dina Moussa, Attorney Advisor, Market Participants Division, Commodity Futures Trading Commission, (202) 418–5696 or dmoussa@cftc.gov, and refer to OMB Control No. 3038–0088. SUPPLEMENTARY INFORMATION: Title: Swap Documentation (OMB Control No. 3038–0088).1 This is a 1 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.’’ While the collection has been extended until June 30, 2025, this 30-day notice PO 00000 Frm 00009 Fmt 4703 Sfmt 4703 64207 request to revise a currently approved information collection. Abstract: On September 11, 2012, the Commission adopted Commission Regulations 23.500 through 23.505 2 (the ‘‘Regulations’’) under Sections 4s(f), (g) and (i) 3 of the Commodity Exchange Act (‘‘CEA’’). The Regulations require, among other things, that swap dealers (‘‘SDs’’) 4 and major swap participants (‘‘MSPs’’) 5 develop and retain written swap trading relationship documentation. They 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.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 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, while the information collection has been extended until June 30, 2025, the Commission is revising its aggregate burden by removing the burden hour estimate on cleared swap recordkeeping, as this subcategory was proposed in 2012 but not finalized by the reflects the correction in aggregate burden hours for the consolidated collection, and officially affirms the discontinuance of OMB control numbers 3038– 0068 and 3038–0083. 2 17 CFR 23.500 through 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 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. E:\FR\FM\24OCN1.SGM 24OCN1

Agencies

Commodity Futures Trading Commission

[Federal Register Volume 87, Number 204 (Monday, October 24, 2022)]
[Notices]
[Pages 64206-64207]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23048]


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

COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities Under OMB Review

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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

SUMMARY: In compliance with the Paperwork Reduction Act of 1995 
(``PRA''), this notice announces that the Information Collection 
Request (``ICR'') abstracted below has been forwarded to the Office of 
Information and Regulatory Affairs (``OIRA''), of the Office of 
Management and Budget (``OMB''), for review and comment. The ICR 
describes the nature of the information collection and its expected 
costs and burden.

DATES: Comments must be submitted on or before November 23, 2022.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be submitted within 30 days of this 
notice's publication to OIRA, at https://www.reginfo.gov/public/do/PRAMain. Please find this particular information collection by 
selecting ``Currently under 30-day Review--Open for Public Comments'' 
or by using the website's search function. Comments can be entered 
electronically by clicking on the ``comment'' button next to the 
information collection on the ``OIRA Information Collections Under 
Review'' page, or the ``View ICR--Agency Submission'' page. A copy of 
the supporting statement for the collection of information discussed 
herein may be obtained by visiting https://www.reginfo.gov/public/do/PRAMain.
    In addition to the submission of comments to https://Reginfo.gov as 
indicated above, a copy of all comments submitted to OIRA may also be 
submitted to the Commodity Futures Trading Commission (the 
``Commission'' or ``CFTC'') by clicking on the ``Submit Comment'' box 
next to the descriptive entry for OMB Control No. 3038-0085, at https://comments.cftc.gov/FederalRegister/PublicInfo.aspx.
    Or by either of the following methods:
     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.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments submitted to the Commission should 
include 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.\1\ 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 ICR 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.
---------------------------------------------------------------------------

    \1\ 17 CFR 145.9.

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:
    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.
    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\ On August 18, 2022, the 
Commission published in the Federal Register notice of the proposed 
extension of this information collection and provided 60 days for 
public comment on the proposed extension, 87 FR 50849 (``60-Day 
Notice''). The Commission did not receive any comments on the 60-Day 
Notice.
---------------------------------------------------------------------------

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

    Burden Statement: The Commission is revising its estimate of the 
burden for

[[Page 64207]]

this collection to reflect the current number of respondents and 
estimated burden hours. 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: October 19, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022-23048 Filed 10-21-22; 8:45 am]
BILLING CODE 6351-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.