2016-14029

Federal Register, Volume 81 Issue 114 (Tuesday, June 14, 2016)

[Federal Register Volume 81, Number 114 (Tuesday, June 14, 2016)]

[Notices]

[Pages 38689-38690]

From the Federal Register Online via the Government Publishing Office [www.gpo.gov]

[FR Doc No: 2016-14029]

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COMMODITY FUTURES TRADING COMMISSION

Agency Information Collection Activities: Notice of Intent To

Renew Collection 3038-0099, Process for a Swap Execution Facility or

Designated Contract Market To Make a Swap Available To Trade

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 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 and to allow 60 days

for public comment. This notice solicits comments on the process for a

designated contract market (DCM) or a swap execution facility (SEF) to

make a swap available to trade and therefore subject to the trade

execution requirement pursuant to the Commodity Exchange Act (``CEA'').

This process imposes rule filing requirements on a DCM or a SEF that

wishes to submit a swap as available to trade.

DATES: Comments must be submitted on or before August 15, 2016.

ADDRESSES: You may submit comments, identified by ``Renewal of

Collection Pertaining to Process for a Swap Execution Facility or

Designated Contract Market to Make a Swap Available to Trade'' 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.

FOR FURTHER INFORMATION CONTACT: Roger Smith, Special Counsel, Division

of Market Oversight, Commodity Futures Trading Commission, (202) 418-

5344; email: [email protected], and refer to OMB Control No. 3038-0099.

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.

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 before submitting

the collection to OMB for approval. To comply with this requirement,

the CFTC is publishing notice of the proposed collection of information

listed below.

Title: Process for a Swap Execution Facility or Designated Contract

Market to Make a Swap Available to Trade (OMB Control No. 3038-0099).

This is a request for extension of a currently approved information

collection.

Abstract: The collection of information is needed to help determine

which swaps should be subject to the trade execution requirement under

section 2(h)(8) of the Commodity Exchange Act pursuant to Section 723

of

[[Page 38690]]

the Dodd-Frank Wall Street Reform and Consumer Protection Act. A SEF or

DCM that submits a determination that a swap is available to trade must

address at least one of several factors to demonstrate that the swap is

suitable for trading pursuant to the trade execution requirement. The

Commission uses the collection of information to facilitate the

application of the trade execution requirement and the requirements

associated with methods of execution under parts 37 and 38 of the

Commission's regulations. 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.

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\

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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: Sections 37.10 and 38.12 of the Commission's

regulations result in information collection requirements within the

meaning of the PRA. This regulation permits a SEF or DCM to submit a

determination that a swap is available to trade to the Commission via

filing procedures set forth in part 40 of the Commission's regulations.

The Commission estimates the burden of reviewing the prescribed factors

and data to make a determination for this collection to be 16 hours per

response.

Respondents/Affected Entities: SEFs, DCMs.

Estimated number of respondents: 5.\2\

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\2\ The CFTC had estimated 50 respondents, i.e., registered

entities, that would file determinations with the CFTC. 78 FR 33618.

The CFTC is revising this estimated number of respondents based on

the number of determinations that have been filed since the

effective date of the rule. In the fall of 2013, four SEFs and one

DCM self-certified rules, pursuant to Sec. 40.6 filing procedures,

based upon each SEF's or DCM's respective determinations that

certain credit default swaps (``CDS'') and interest rate swap

contracts (``IRS'') were made available to trade.

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Estimated total annual burden on respondents: 80 hours.

Frequency of collection: On occasion.

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

Dated: June 9, 2016.

Robert N. Sidman,

Deputy Secretary of the Commission.

[FR Doc. 2016-14029 Filed 6-13-16; 8:45 am]

BILLING CODE 6351-01-P

 

Last Updated: June 14, 2016