2013-00521
Federal Register, Volume 78 Issue 9 (Monday, January 14, 2013)[Federal Register Volume 78, Number 9 (Monday, January 14, 2013)]
[Notices]
[Pages 2661-2662]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-00521]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities Under OMB Review
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: In compliance with the Paperwork Reduction Act (44 U.S.C. 3501
et seq.), 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 February 13, 2013.
ADDRESSES: Send comments regarding the burden estimated or any other
aspect of the information collection, including suggestions for
reducing the burden, to the addresses below. Please refer to OMB
Control No. 3038-0091 in any correspondence.
Martin B. White, Office of the General Counsel, Commodity Futures
Trading Commission, 1155 21st Street NW., Washington, DC 20581; and
Office of Information and Regulatory Affairs, Office of Management and
Budget, Attention: Desk Officer for CFTC, 725 17th Street, Washington,
DC 20503.
Comments may also be submitted 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: Sauntia Warfield, Assistant 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.
Please submit your comments using only one method and identity that
it is for the renewal of 3038-0091.
All comments must be submitted in English, or if not, accompanied
by an English translation. Comments will be posted as received to
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\
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\1\ See 17 CFR 145.9.
FOR FURTHER INFORMATION OR A COPY CONTACT: Martin B. White, Office of
the General Counsel, Commodity Futures Trading Commission, 1155 21st
Street NW., Washington, DC 20581, (202) 418-5303; FAX: (202) 418-5527;
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email: [email protected] and refer to OMB Control No. 3038-0091.
SUPPLEMENTARY INFORMATION:
Title: Disclosure and Retention of Certain Information Related to
Cleared Swaps Customer Collateral (OMB Control No. 3038-0091). This is
a request for extension of a currently approved information collection.
Abstract: Part 22 of the Commission's regulations under the
Commodity Exchange Act (Act) establish rules for the protection of
customer collateral held by futures commission merchants and
derivatives clearing organizations to serve as margin in cleared swaps
transactions. As part of this regulatory scheme, sections 22.2(g),
22.5(a), 22.11, 22.12, and 22.16 of these rules impose recordkeeping
and third-party disclosure requirements on futures commission merchants
and designated clearing organizations. In addition, section 22.13(c)(2)
indirectly requires futures commission merchants who post excess
collateral with designated clearing organizations to perform certain
computations regarding such collateral, although it is not expected to
materially affect the total paperwork burden associated with Part 22.
The reporting and recordkeeping requirements of Part 22 constitute
the collection of information within the meaning of the Paperwork
Reduction Act of 1995. 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 Part 22
rules were promulgated earlier this year and the associated collection
of information was assigned OMB control number 3038-0091. See Final
Rule, 77 FR 6336, 6370-71 (February 7, 2012). The Federal Register
notice for the 60-day comment period on this renewal of a collection of
information was published on October 2, 2012 (77 FR 60114). That notice
included a description of the specific recordkeeping and third-party
disclosure required by the relevant rule provisions. No comments were
received in response to the 60-day notice.
Burden statement: The Commission estimates the burden of this
collection of information as follows:
Recordkeeping Burden
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Estimated
Estimated annual Total annual Estimated Estimated Total annual Total annual
Regulations (17 CFR) number of responses per responses number of hours average cost burden-hours burden-cost
entities entity per response per response
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22.2(g)................................ 100 250 25,000 0.4 $10 10,000 $250,000
[[Page 2662]]
22.5(a)................................ 100 1 100 5 125 500 12,500
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Estimated
Estimated Estimated annual Estimated total Estimated total
Regulations (17 CFR) number of annualized operating and annualized start-up annual operating
entities start-up cost maintenance costs and maintenance
per entity cost per entity cost per entity
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22.12...................................................... 100 $750-1,500 $750-1,500 $75,000-150,000 $75,000-150,000
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Third-Party Disclosure Burden
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Estimated Annual Estimated Estimated
Regulations (17 CFR) number of responses per Total annual number of hours average cost Total annual Total annual
entities entity responses per response per response burden-hours burden-cost
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22.16............................ 100 1,000 100,000 0.2 $5 20,000 $500,000
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Estimated Estimated total
Estimated Estimated annual Estimated total annual
Regulations (17 CFR) number of annualized operating and annualized operating and
entities start-up cost maintenance start-up costs maintenance
per entity cost per entity cost per entity
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22.11.............................................................. 100 $750-1,500 $750-1,500 $75,000-150,000 $75,000-150,000
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Notes: 1. There is no reporting (in the sense of reporting
information to the government as opposed to third-party disclosure
to private parties) requirement or burden in connection with
information collection under 17 CFR part 22 and Control Number 3038-
0091.
2. In the 60-notice for this renewal of a collection of
information, the CFTC stated that there were estimated to be no
capital costs or operating and maintenance costs associated with
this collection. Upon further consideration, the CFTC has determined
that the costs associated with rules 22.11 and 22.12 are
appropriately classified as start-up costs and operating and
maintenance costs as those terms are used with regard to Paperwork
Reduction Act burden estimates in the Office of Management and
Budget regulatory information system. This reclassification does not
alter the substance of the recordkeeping and third-party disclosure
requirements in question or the associated total cost set forth in
the 60-day notice.
Dated: January 8, 2013.
Stacy D. Yochum,
Counsel to the Executive Director.
[FR Doc. 2013-00521 Filed 1-11-13; 8:45 am]
BILLING CODE 6351-01-P