[Federal Register Volume 82, Number 232 (Tuesday, December 5, 2017)]
[Notices]
[Pages 57430-57431]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-26141]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Extend Collection 3038-0066: Financial Resource Requirements for 
Derivatives Clearing Organizations

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing 
an opportunity for public comment on the proposed extension 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 certain financial resource reporting 
requirements applicable to derivatives clearing organizations.

DATES: Comments must be submitted on or before February 5, 2018.

ADDRESSES: You may submit comments, identified by ``OMB Control Number 
3038-0066'' by any of the following methods:
     The Agency's Web site, at http://comments.cftc.gov/. 
Follow the instructions for submitting comments through the Web site.
     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.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments through the Portal.
    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: Jocelyn Partridge, Special Counsel, 
Division of Clearing and Risk, (202) 418-5926, email: 
[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 and 
includes agency requests or requirements that members of the public 
submit reports, keep records, or provide information to a third party. 
An agency may not conduct or sponsor, and a person is not required to 
respond to, a collection of information unless it displays a valid OMB 
control number. Section 3506(c)(2)(A) of the PRA, 44 U.S.C. 
3506(c)(2)(A), requires a Federal agency 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.
    Title: Financial Resource Requirements for Derivatives Clearing 
Organizations (OMB Control No. 3038-0066). This is a request for an 
extension

[[Page 57431]]

of a currently approved information collection.
    Abstract: This collection of information involves the financial 
resource reporting requirements set forth in section 39.11 of the 
Commission's regulations.
    Section 5b(c)(2) of the Commodity Exchange Act (CEA or Act) \1\ 
sets forth certain core principles with which a derivatives clearing 
organization (DCO) must comply in order to become registered with the 
Commission and to maintain such registration. One of these core 
principles, core principle B, sets forth the financial resource 
requirements applicable to DCOs. Section 5b(c)(2) also requires DCOs to 
comply with the regulations promulgated by the Commission pursuant to 
section 8a(5) of the Act.\2\ Section 39.11 of the Commission's 
regulations, which implements core principle B, includes the financial 
resource reporting requirements that are the subject of this 
information collection. The information collection is necessary for, 
and would be used by, the Commission to evaluate a DCO's compliance 
with the financial resource requirements for DCOs prescribed in the 
Commodity Exchange Act, including core principle B, and the 
Commission's regulations.
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    \1\ 7 U.S.C. 7a-1(c)(2).
    \2\ Section 8a(5) of the CEA authorizes the Commission to 
promulgate such rules and regulations as, in the judgment of the 
Commission, are reasonably necessary to effectuate any of the 
provisions or to accomplish any of the purposes of the CEA. 7 U.S.C. 
12a(5).
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    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.\3\ 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 
requirement 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.
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    \3\ 17 CFR 145.9.
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    Burden Statement: As noted above, this information collection 
renewal involves the requirement that a DCO that is registered with the 
Commission report certain information regarding its financial 
resources, the value thereof, and the basis for these calculations that 
is necessary for the Commission to assess the DCO's compliance with the 
financial resource requirements of the CEA and the Commission's 
regulations. The reporting requirements are contained in section 39.11 
of the Commission's regulations. The Commission has revised its 
estimate of the total annual burden hours for this collection to 
account for an increase in the number of respondents (from 14 to 17), 
but has maintained the original burden hour estimate of 10 hours per 
quarterly report as the reporting requirements have remain unchanged.
    The respondent burden for this collection is estimated to be as 
follows:
    Estimated Annual Number of Respondents: 17.
    Estimated Annual Number of Reports per Respondent: 4.
    Estimated Total Annual Number of Responses: 68.
    Estimated Average Number of Hours per Response: 10.
    Estimated Average Annual Burden Hours per Respondent: 40.
    Estimated Total Annual Burden Hours: 680 hours.
    Frequency of collection: Quarterly and on occasion.
    Type of Respondents: Derivatives clearing organizations.
    There are no capital or start-up costs associated with this 
information collection, nor are there any operating or maintenance 
costs associated with this information collection.

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

    Dated: November 29, 2017.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2017-26141 Filed 12-4-17; 8:45 am]
 BILLING CODE 6351-01-P