Swap Data Reporting and Recordkeeping Requirements

OMB Control No: 3038-0096	ICR Reference No: 201808-3038-002
Status: Historical Inactive	Previous ICR Reference No: 201610-3038-002
Agency/Subagency: CFTC	Agency Tracking No:
Title: Swap Data Reporting and Recordkeeping Requirements
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 12/04/2018
Retrieve Notice of Action (NOA)	Date Received in OIRA: 08/13/2018
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. In addition, the agency shall incorporate into the final submission supporting statement a detailed discussion of the ICR burdens, including tables showing the marginal differences between the proposed and final rules, and aggregate burden estimates for all activities accounted for in the package. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2020	36 Months From Approved	02/29/2020
Responses	7,209,344,610	0	7,209,344,610
Time Burden (Hours)	562,945	0	562,945
Cost Burden (Dollars)	99,462,062	0	99,462,062

---

Abstract: The Commission proposed new information collection related specifically to the Commission’s proposed changes to Part 39 of its regulations to establish a regulatory framework for exempt derivatives clearing organizations (“DCOs”), pursuant to Section 5b(h) of the CEA (7 U.S.C. 7a-1(h)). Although Part 45 applies to a number of registered entities and market participants, including registered DCOs, the proposed changes would affect only the reporting burden for exempt DCOs. Exempt DCOs’ clearing of swaps will be limited to proprietary positions of U.S. persons that are clearing members or affiliates of clearing members of that clearing organization. The information collection is necessary to fulfill the Commission’s statutory and regulatory mandates, including systemic risk mitigation, market monitoring, and market abuse prevention. The information is used to provide oversight and supervision and to ensure compliance with statutes and regulations relating to swaps.

---

Authorizing Statute(s): US Code: 7 USC 2(a)(13) Name of Law: Commodity Exchange Act    US Code: 7 USC 6r Name of Law: Commodity Exchange Act    US Code: 7 USC 12a(5); Name of Law: Commodity Exchange Act    US Code: 7 USC 24a Name of Law: Commodity Exchange Act

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AE65	Proposed rulemaking	83 FR 39923	08/13/2018

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

IC Title Form No. Form Name Swap Data Recordkeeping and Reporting Requirements Exemption from Derivatives Clearing Organization Registration

---

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This submission includes adjustments to burden hours to account for the Commission’s proposed requirements for exempt DCOs, including reporting of proprietary swap positions of U.S. persons that are clearing members or affiliates of clearing members of that clearing organization. The additional burden relates solely to the proposed new category of exempt DCOs.

---

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Herminio Castro 202 418-6705 [email protected]

---

Common Form ICR:  No

---

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
		(a) It is necessary for the proper performance of agency functions;
		(b) It avoids unnecessary duplication;
		(c) It reduces burden on small entities;
		(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
		(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
		(f) It indicates the retention periods for recordkeeping requirements;
		(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
			(i) Why the information is being collected;
			(ii) Use of information;
			(iii) Burden estimate;
			(iv) Nature of response (voluntary, required for a benefit, or mandatory);
			(v) Nature and extent of confidentiality; and
			(vi) Need to display currently valid OMB control number;
		(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
		(i) It uses effective and efficient statistical survey methodology (if applicable); and
		(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date: 08/13/2018

---