Agency Information Collection Activities: Notice of Intent To Extend Collection 3038-0096, Swap Data Recordkeeping and Reporting Requirements

Citation84 FR 50413
Record Number2019-20749
Published date25 September 2019
SectionNotices
CourtCommodity Futures Trading Commission
Federal Register, Volume 84 Issue 186 (Wednesday, September 25, 2019)
[Federal Register Volume 84, Number 186 (Wednesday, September 25, 2019)]
                [Notices]
                [Pages 50413-50414]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2019-20749]
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                COMMODITY FUTURES TRADING COMMISSION
                Agency Information Collection Activities: Notice of Intent To
                Extend Collection 3038-0096, Swap Data Recordkeeping and Reporting
                Requirements
                AGENCY: Commodity Futures Trading Commission.
                ACTION: Notice.
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                SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or
                ``Commission'') is announcing an opportunity for public comment on the
                proposed renewal of an information collection 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 and to allow 60 days for public comment. This
                notice solicits comments on the swap data recordkeeping and reporting
                requirements on the following entities: Swap Dealers (``SDs''), Major
                Swap Participants (``MSPs''), and swap counterparties that are neither
                swap dealers nor major swap participants (``non-SD/MSP
                counterparties'').
                DATES: Comments must be submitted on or before November 25, 2019.
                ADDRESSES: You may submit comments, identified by ``Extension of
                Information Collection Pertaining to Swap Data Recordkeeping and
                Reporting Requirements, OMB Control No. 3038-0096,'' by any of the
                following methods:
                 The Agency's website, at http://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 http://www.cftc.gov.
                FOR FURTHER INFORMATION CONTACT: Meghan Tente, Special Counsel,
                Division of Market Oversight, Commodity Futures Trading Commission,
                (202) 418-5785, email: [email protected], and refer to OMB Control No.
                3038-0096.
                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 information
                collection, including each proposed extension of an existing
                information collection, before submitting the collection to OMB for
                approval. To comply with this requirement, the CFTC is publishing
                notice of a proposed extension of the currently approved information
                collection listed below. An agency may not conduct or sponsor, and a
                person is not required to respond to, an information collection unless
                it displays a currently valid OMB control number.
                 Title: Swap Data Recordkeeping and Reporting Requirements (OMB
                Control No. 3038-0096). This is a request for extension of a currently
                approved information collection.
                 Abstract: The information collection is needed to ensure that the
                CFTC and other regulators have access to swap data as required by the
                Commodity Exchange Act, as amended by the Dodd-Frank Wall Street Reform
                and Consumer Protection Act (``Dodd-Frank Act''). The Dodd-Frank Act
                directed the CFTC to adopt rules providing for the reporting of data
                relating to swaps. In 2012, the CFTC adopted Regulation 45, which
                imposes recordkeeping and reporting requirements relating to pre-
                enactment and historical swaps.
                 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 CFTC,
                including whether the information will have a practical use;
                 The accuracy of the CFTC'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 CFTC to consider information that you believe
                is exempt from disclosure under the Freedom of Information Act (FOIA),
                a petition for confidential treatment of the exempt information may be
                submitted according to the procedures established in Sec. 145.9 of the
                CFTC's regulations.\1\
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                 \1\ 17 CFR 145.9.
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                 The CFTC reserves the right, but shall have no obligation, to
                review, pre-screen, filter, redact, refuse or remove any or all of your
                submission from http://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 Correction Request will be retained in
                the public comment file and will be considered as required under the
                Administrative Procedure Act and other
                [[Page 50414]]
                applicable laws, and may be accessible under FOIA.
                 Burden Statement: Provisions of CFTC Regulations 45.2, 45.3, 45.4,
                45.5, 45.6, 45.7, 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, and non-SD/MSP counterparties incur an annual
                time burden of 2,279,312 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, 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: 1,316.
                 Estimated total annual burden hours on respondents: 2,279,312
                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: September 19, 2019.
                Robert Sidman,
                Deputy Secretary of the Commission.
                [FR Doc. 2019-20749 Filed 9-24-19; 8:45 am]
                 BILLING CODE 6351-01-P
                

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