[Federal Register Volume 88, Number 176 (Wednesday, September 13, 2023)]
[Pages 62774-62775]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19816]



Agency Information Collection Activities Under OMB Review

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: In compliance with the Paperwork Reduction Act of 1995 (PRA), 
this notice announces that the Information Collection Request (ICR) 
abstracted below has been forwarded to the Office of Information and 
Regulatory Affairs (OIRA), of 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 October 13, 2023.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be submitted within 30 days of this 
notice's publication to OIRA, at https://www.reginfo.gov/public/do/PRAMain. Please find this particular information collection by 
selecting ``Currently under 30-day Review--Open for Public Comments'' 
or by using the website's search function. Comments can be entered 
electronically by clicking on the ``comment'' button next to the 
information collection on the ``OIRA Information Collections Under 
Review'' page, or the ``View ICR--Agency Submission'' page. A copy of 
the supporting statement for the collection of information discussed 
herein may be obtained by visiting https://www.reginfo.gov/public/do/PRAMain.
    In addition to the submission of comments to https://Reginfo.gov as 
indicated above, a copy of all comments submitted to OIRA may also be 
submitted to the Commodity Futures Trading Commission (the 
``Commission'' or ``CFTC'') by clicking on the ``Submit Comment'' box 
next to the descriptive entry for OMB Control No. 3038-0096, at https://comments.cftc.gov/FederalRegister/PublicInfo.aspx, or by either of the 
following methods:
     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.
    All comments must be submitted in English, or if not, accompanied 
by an English translation. Comments submitted to the Commission should 
include 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 section 145.9 of the 
Commission's regulations.\1\ 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 ICR will be retained in the 
public comment file and will be considered as required under the 
Administrative Procedure Act and other applicable

[[Page 62775]]

laws, and may be accessible under the Freedom of Information Act.

    \1\ 17 CFR 145.9.

FOR FURTHER INFORMATION CONTACT: Isabella Bergstein, Attorney Adviser, 
Division of Market Oversight, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581; 
(202) 993-1384; email: [email protected], and refer to OMB Control 
No. 3038-0096.

    Title: Swap Data Recordkeeping and Reporting Requirements (OMB 
Control No. 3038-0096). This is a request for revision of a currently 
approved information collection.
    Abstract: The collection of information is needed to ensure that 
the CFTC and other regulators have access to swap data as required by 
the Commodity Exchange Act, as amended by the Dodd-Frank Wall Street 
Reform and Consumer Protection Act (``Dodd-Frank Act''). The Dodd-Frank 
Act directed the CFTC to adopt rules providing for the reporting of 
data relating to swaps. In 2012, the CFTC adopted Regulation 45, which 
imposes recordkeeping and reporting requirements relating to swaps. The 
Commission is revising its burden hours and hourly labor cost estimates 
following the Commission's designation of a Unique Product Identifier 
(``UPI'') and product classification system for certain swap asset 
classes. The Commission is revising its burden estimates associated 
with the reporting obligations under part 45 of the Commission rules to 
account for new burden associated with the requirements of Sec.  45.7.
    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. On July 6, 2023, the Commission 
published in the Federal Register notice of the proposed revision of 
this information collection and provided 60 days for public comment on 
the proposed extension, 88 FR 43086 (``60-Day Notice''). The Commission 
received no relevant comments that addressed its PRA burden estimates.
    Burden Statement: CFTC regulation section 45.7 results in 
information collection requirements within the meaning of the PRA. With 
respect to the ongoing reporting and recordkeeping burdens associated 
with swaps, the CFTC believes that SDs, MSPs, SEFs, DCMs, DCOs, SDRs, 
and non-SD/MSP counterparties incur an annual time-burden of 1,093 
hours. This time-burden represents a proportion of the burden 
respondents incur to operate and maintain their swap data recordkeeping 
and reporting systems.
    In addition, the Commission estimates that regulation section 45.7 
will create costs for entities required to retrieve and transmit UPIs 
to update their systems to retrieve and transmit UPIs. The Commission 
estimates that SDRs, SEFs, DCMs, and reporting counterparties required 
to retrieve and transmit UPIs will incur a one-time initial burden of 
one hour per entity to modify their systems to adopt the required 
changes, for a total estimated hours burden of 1,732 hours. The 
associated labor cost per entity is estimated to be $93.31 for a total 
cost across entities of $161,620.
    Respondents/Affected Entities: Swap Dealers, Major Swap 
Participants, SEFs, DCMs, DCOs, and other counterparties to a swap 
transaction (i.e., end-user, non-SD/non-MSP counterparties).
    Estimated number of respondents: 1,732.
    Estimated average burden hours per respondent: 1.6 hours.
    Estimated total annual burden hours on respondents: 2,825 hours.
    Frequency of collection: Ongoing.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: September 8, 2023.
Christopher Kirkpatrick,
Secretary of the Commission.
[FR Doc. 2023-19816 Filed 9-12-23; 8:45 am]