[Federal Register Volume 84, Number 118 (Wednesday, June 19, 2019)]
[Notices]
[Pages 28511-28512]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-12923]



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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Revise Collection 3038-0089, Swap Data Recordkeeping and Reporting 
Requirements: Pre-Enactment and Transition Swaps

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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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 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 July 19, 2019.

ADDRESSES: Comments regarding the burden estimated or any other aspect 
of the information collection, including suggestions for reducing the 
burden, may be submitted directly to the Office of Information and 
Regulatory Affairs in OMB, within 30 days of publication of the notice, 
by email at [email protected]. Please identify the comments 
by OMB Control No. 3038-0089. Please provide the Commission with a copy 
of all submitted comments at the address listed below. Please refer to 
OMB Reference No. 3038-0089, found on http://reginfo.gov. Comments may 
also be mailed to the Office of Information and Regulatory Affairs, 
Office of Management and Budget, Attention: Desk Officer for the 
Commodity Futures Trading Commission, 725 17th Street NW, Washington, 
DC 20503, and to the Commission through its website at http://comments.cftc.gov. Follow the instructions for submitting comments 
through the website.
    Comments may also be mailed to: Christopher Kirkpatrick, Secretary 
of the Commission, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street NW, Washington, DC 20581, or by Hand 
Delivery/Courier at the same address.
    A copy of the supporting statements for the collection of 
information discussed above may be obtained by visiting http://
regInfo.gov. 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. 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 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 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 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.
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    \1\ 17 CFR 145.9.

FOR FURTHER INFORMATION CONTACT: Meghan Tente, Division of Market 
Oversight, Commodity Futures Trading Commission, 1155 21st Street NW, 
(202) 418-5785, email: [email protected], and refer to OMB Control No. 
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3038-0089.

SUPPLEMENTARY INFORMATION: 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. The Federal 
Register notice with a 60-day comment period soliciting comments on 
this collection of information was published on April 12, 2019 (84 FR 
14922).
    Title: Swap Data Recordkeeping and Reporting Requirements: Pre-
Enactment and Transition Swaps (OMB Control No. 3038-0089). This is a 
request for extension of a currently approved information collection.
    Abstract: The collection of information is needed to ensure that 
the CFTC and other regulators have access to data regarding pre-
enactment and transition swaps, 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 entered into before the date of enactment of the Dodd-Frank Act, 
the terms of which had not expired as of the date of enactment of the 
Dodd-Frank Act (``pre-enactment swaps'') and data relating to swaps 
entered into on or after the date of enactment of the Dodd-Frank Act 
and prior to the compliance date specified in the the CFTC's final swap 
data reporting rules (``transition swaps''). On June 12, 2012, the CFTC 
adopted regulation 46, which imposes recordkeeping and reporting 
requirements relating to pre-enactment and historical swaps.
    Burden Statement: Provisions of CFTC Regulations 46.2, 46.3, 46.4, 
46.8, 46.10, and 46.11 result in information collection requirements 
within the meaning of the PRA. With respect to the ongoing reporting 
and recordkeeping burdens associated with pre-enactment and transition 
swaps, the CFTC believes that SDs, MSPs, and non-SD/MSP counterparties 
incur an annual time-burden of 17,328 hours. This time-burden 
represents a proportion of the burden responents incur to operate and 
maintain their swap data recordkeeping and reporting systems.
    17 CFR 45 imposes swap recordkeeping and reporting requirements on 
respondents related to swaps that are not pre-enactment or transition 
swaps. The CFTC believes that respondents use the same recordkeeping 
and reporting systems to compy with both parts 45 and 46. The CFTC has 
computed the estimated burden for 17 CFR 46 by estimating the burden 
incurred by respondents to operate and maintain their swap data 
recordkeeping and reporting systems and then estimating the percentage 
of that burden associated with pre-enactment and transition swaps. 
Since the enactment of 17 CFR 45, the vast majority of pre-enactment 
and transition swaps have been terminated by the parties to the swaps 
or are otherwise no longer in existence. As 17 CFR 46 only requires 
respondents to make ongoing reports regarding pre-enactment and 
transition swaps that continue to be in existence, the number of 
reports being made pursuant to 17 CFR 46 has declined significantly 
over time. As the volume of reports made pursuant to 17 CFR 46 is 
estimated to be very small releative to the estimated volume of reports 
made pursuant to 17 CFR 45, the Commission's burden estimate has 
allocated the vast majority of the estimated burden to operate and 
maintain respondents' swap data recordkeeping and reporting systems to 
the burden estimate associated with 17 CFR 45.
    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: 30,125.
    Estimated Total Annual Burden on Respondents: 17,328 hours.
    Frequency of Collection: Ongoing.

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    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: June 13, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019-12923 Filed 6-18-19; 8:45 am]
BILLING CODE 6351-01-P