Federal Register, Volume 84 Issue 77 (Monday, April 22, 2019) 
[Federal Register Volume 84, Number 77 (Monday, April 22, 2019)]
[Pages 16662-16663]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-08050]



Agency Information Collection Activities: Notice of Intent To
Extend Collection 3038-0104: Clearing Exemption for Swaps Between
Certain Affiliated Entities

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: The Commodity Futures Trading Commission (``Commission'' or
``CFTC'') 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 each proposed extension
of an existing collection of information, and to allow 60 days for
public comment. This notice solicits comments on reporting requirements
relating to uncleared swaps between certain affiliated entities
electing the exemption under Commission regulation 50.52 (Exemption for
swaps between affiliates).

DATES: Comments must be submitted on or before June 21, 2019.

ADDRESSES: You may submit comments, identified by ``OMB Control No.
3038-0104'' 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.

FOR FURTHER INFORMATION CONTACT: Melissa A. D'Arcy, Special Counsel,
Division of Clearing and Risk, Commodity Futures Trading Commission,
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581;
(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 Commission is publishing
notice of the proposed extension of the existing 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: Clearing Exemption for Swaps Between Certain Affiliated
Entities (OMB Control No. 3038-0104). This is a request for an
extension of a currently approved information collection.
    Abstract: Section 2(h)(1)(A) of the Commodity Exchange Act requires
certain entities to submit for clearing certain swaps if they are
required to be cleared by the Commission. Commission regulation 50.52
permits certain affiliated entities to elect not to clear inter-
affiliate swaps that otherwise would be required to be cleared,
provided that they meet certain conditions. The rule further requires
the reporting of certain information if the inter-affiliate exemption
from clearing is elected. The Commission will use the information
described in this collection and reported pursuant to Commission
regulation 50.52 to monitor the use of the inter-affiliate exemption
from the Commission's clearing requirement and to assess any potential
market risks associated with such exemption.
    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 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: The Commission is revising its estimate of the
burden for this collection for counterparties to swaps between certain
affiliated entities that elect the inter-affiliate exemption under
Commission regulation 50.52. The respondent burden for this collection
is estimated to be as follows:
    Estimated Number of Respondents: 310.
    Estimated Average Burden Hours per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 310 hours.
    Frequency of Collection: Annually; on occasion.
    There are no capital costs or operating and maintenance costs
associated with this collection.

    Authority: 44 U.S.C. 3501 et seq.

[[Page 16663]]

    Dated: April, 17, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019-08050 Filed 4-19-19; 8:45 am]