Agency Information Collection Activities: Notice of Intent To Renew Collection; 3038-0097, Process for Review of Swaps for Mandatory Clearing
| Published date | 17 August 2020 |
| Record Number | 2020-17892 |
| Section | Notices |
| Court | Commodity Futures Trading Commission |
Federal Register, Volume 85 Issue 159 (Monday, August 17, 2020)
[Federal Register Volume 85, Number 159 (Monday, August 17, 2020)]
[Notices]
[Pages 50012-50013]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-17892]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities: Notice of Intent To
Renew Collection; 3038-0097, Process for Review of Swaps for Mandatory
Clearing
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: The Commodity Futures Trading Commission (``Commission'' or
``CFTC'') 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 reporting and
recordkeeping requirements relating to information management
requirements for derivatives clearing organizations.
DATES: Comments must be submitted on or before October 16, 2020.
ADDRESSES: You may submit comments, identified by OMB Control No. 3038-
0097 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 and identify that
it is for the renewal of Collection Number 3038-0097. 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: Megan Wallace, Senior Special Counsel,
Division of Clearing and Risk, Commodity Futures Trading Commission,
(202) 418-5150; email: [email protected].
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 Commission is publishing
notice of the proposed extension of the 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.
Title: Part 39, Process for Review of Swaps for Mandatory Clearing
(OMB Control No. 3038-0097). This is a
[[Page 50013]]
request for extension and revision of a currently approved information
collection.
Abstract: The Commodity Exchange Act and Commission regulations
require a derivatives clearing organization (``DCO'') that wishes to
accept a swap for clearing to be eligible to clear the swap and to
submit the swap to the Commission for a determination as to whether the
swap is required to be cleared. Commission Regulation 39.5 sets forth
the process for these submissions. The Commission will use the
information in this collection to determine whether a DCO that wishes
to accept a swap for clearing is eligible to clear the swap and whether
the swap should be required to be cleared.
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 section 145.9 of
the Commission's regulations.\1\
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\1\ 17 CFR 145.9.
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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 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 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 respondent burden for this collection is
estimated to be as follows:
Respondents/Affected Entities: Derivatives clearing organizations.
Estimated Number of Respondents: 15.
Annual Submission by Each Respondent: 1.
Total Annual Responses: 15.
Estimated Average Burden Hours per Respondent: 40.
Estimated Total Annual Burden Hours: 600.
There is no capital cost associated with this collection.
Authority: 44 U.S.C. 3501 et seq.
Dated: August 11, 2020.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2020-17892 Filed 8-14-20; 8:45 am]
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