Federal Register, Volume 83 Issue 156 (Monday, August 13, 2018) 
[Federal Register Volume 83, Number 156 (Monday, August 13, 2018)]
[Pages 39991-39992]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-17337]



Agency Information Collection Activities: Notice of Intent To
Extend Collection 3038-0085: Rule 50.50 End-User Notification of Non-
Cleared Swap

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or
``Commission'') is announcing an opportunity for public comment on the
proposed renewal 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 proposed extension of an existing
collection of information, and to allow 60 days for public comment.
This notice solicits comments on the renewal of the reporting
requirement that is embedded in the final rule adopting the end-user
exception to the Commission's swap clearing requirement.

DATES: Comments must be submitted on or before October 12, 2018.

[[Page 39992]]

ADDRESSES: You may submit comments, identified by ``OMB Control No.
3038-0085'' by any of the following methods:
     The Agency's website, at http://comments.cftc.gov/. Follow
the instructions for submitting comments through the website.
     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.
    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.

Division of Clearing and Risk, Commodity Futures Trading Commission,
(202) 418-5086; email: [email protected].

SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq.,
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, including each proposed extension of an existing
collection of information, before submitting the collection to OMB for
approval. To comply with this requirement, the CFTC is publishing this
notice of the proposed extension of the currently approved collection
of information listed below. 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.
    Title: Rule 50.50 End-User Notification of Non-Cleared Swap (OMB
Control No. 3038-0085). This is a request for an extension of a
currently approved information collection.
    Abstract: Rule 50.50 specifies the requirements for eligible end-
users who elect the end-user exception from the Commission's swap
clearing requirement, as provided under section 2(h)(7) of the
Commodity Exchange Act (``CEA''). Rule 50.50 requires the
counterparties to report certain information to a swap data repository
registered with the Commission, or to the Commission directly, if one
or more counterparties elects the end-user exception. The rule
establishes a reporting requirement that is required in order to ensure
compliance with the Commission's clearing requirement under section
2(h)(1) of the CEA and is necessary in order for Commission staff to
prevent abuse of the end-user exception under section 2(h)(1) of the
CEA and pursuant to Rule 50.50.
    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
     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 Sec.  145.9 of the
Commission's regulations.\1\

    \1\ 17 CFR 145.9.

    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.
    Burden Statement:
     Collection 3038-0085--Rule 50.50 End-User Notification of
Non-Cleared Swap (17 CFR 50.50: Exceptions to the Clearing Requirement)
    The Commission is revising its estimate of the burden for this
collection for eligible end-users electing the end-user exception. The
Commission is increasing the estimated number of respondents from 1,092
to 1,815 based on an observed increase in the number of entities
electing the exception. The respondent burden for this collection is
estimated to be as follows:
    Estimated Number of Respondents: 1,815.
    Estimated Average Burden Hours per Respondent: 0.58.
    Estimated Total Annual Burden Hours: 1,053.
    Frequency of Collection: On occasion; annually.
    There are no capital costs or operating and maintenance costs
associated with this collection.

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

    Dated: August 8, 2018.
Christopher Kirkpatrick,
Secretary of the Commission.
[FR Doc. 2018-17337 Filed 8-10-18; 8:45 am]