[Federal Register Volume 87, Number 80 (Tuesday, April 26, 2022)]
[Pages 24534-24535]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-08789]



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

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 swap data recordkeeping and reporting requirements codified 
in the Code of the Federal Regulations that imposes recordkeeping and 
reporting requirements on the following entities: Swap Dealers 
(``SDs''), Major Swap Participants (``MSPs''), and swap counterparties 
that are neither swap dealers nor major swap participants (``non-SD/MSP 

DATES: Comments must be submitted on or before June 27, 2022.

ADDRESSES: You may submit comments, identified by ``OMB Control No. 
3038-0089'' by any of the following methods:
     The Agency's website, at https://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.

[[Page 24535]]

    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 https://www.cftc.gov.

FOR FURTHER INFORMATION CONTACT: Isabella Bergstein, Attorney Adviser, 
Division of Data Policy, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street NW, Washington, DC 20581; (202) 993-
1384; 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.\1\

    \1\ The OMB control numbers for the CFTC regulations were 
published on December 30, 1981. See 46 FR 63035 (Dec. 30, 1981).

    Title: Swap Data Recordkeeping and Reporting Requirements: 
Reenactment and Transition Swaps (OMB Control No. 3038-0089). This is a 
request for an extension of a currently approved information 
    Abstract: Sections 4r(a)(2)(A) and 2(h)(5) of the Commodity 
Exchange Act requires the reporting of pre-enactment and transition 
swaps. Regulations 46.2, 46.3, and 46.11 establish reporting 
requirements that are mandated by 4r and 2(h) and, thus, are necessary 
to implement the objectives of 4r and 2(h). Regulation 46.2 establishes 
swap counterparties' recordkeeping requirements for pre-enactment and 
transition swaps. Regulation 46.3 establishes reporting requirements 
for uncleared pre-enactment or transition swaps in existence on or 
after April 25, 2011, and throughout the existence of the swap.\2\ 
Regulation 46.11 addresses the reporting of errors and omission in 
previously reported data. The data required to be compiled and 
maintained pursuant to the Part 46 regulations would be used by the 
Commission and other financial regulators for fulfillment of various 
regulatory mandates. 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''). With respect to the collection of 
information, the CFTC invites comments on:

    \2\ See 17 CFR part 46.1 (defining ``pre-enactment swap'' as any 
swap entered into prior to enactment of the Dodd-Frank Act of 2010 
(July 21, 2010), the terms of which have not expired as of the date 
of enactment of that Act, and ``transition swap'' as any swap 
entered into on or after the enactment of the Dodd-Frank Act of 2010 
(July 21, 2010) and prior to the applicable compliance date on which 
a registered entity or swap counterparty subject to the jurisdiction 
of the Commission is required to commence full compliance with all 
provisions of part 46).

     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 for 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.\3\

    \3\ See 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 https://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 estimates that the respondent 
burden for this collection is as follows:
    Estimated Number of Respondents: 30,108.
    Estimated Average Burden Hours per Respondent: 69.5 hours.
    Estimated Total Annual Burden Hours: 13,506 hours.
    Frequency of Collection: 1.
    Estimated Number of Respondents: 608.
    Estimated Average Burden Hours per Respondent: 5.64 hours.
    Estimated Total Annual Burden Hours: 860 hours.
    Frequency of Collection: Daily.
     Total Annual Burden for the Collection: 14,366 hours.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: April 20, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022-08789 Filed 4-25-22; 8:45 am]