Interim Final Rule for Reporting Pre-enactment Swap Transaction; Proposed Collection, Comment Request: Reporting of Pre-enactment Swap Transaction

Forms and Documents

Document Name	Status
30-day FRN for IFR (4-4-11).pdf Supplementary Document	2011-04-06
Revised IFR-PRASupporting Stmt (4-4-11) - SN (2).docx Supporting Statement A	2011-04-06
75 FR 62080 (CFR Part 44) (10-2010--30-day).pdf Supplementary Document	2011-01-13
60-day FRN for IFR (1-11-2011).pdf Supplementary Document	2011-01-12

IC Document Collections

IC ID	Document Title	Status
195929	Interim Final Rule for Reporting Pre-enactment Swap Transactions; Proposed Collection, Comment Request: Reporting of Pre-enactment Transactions	New

ICR Details

OMB Control No: 3038-0071	ICR Reference No: 201101-3038-002
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: CFTC	Agency Tracking No:
Title: Interim Final Rule for Reporting Pre-enactment Swap Transaction; Proposed Collection, Comment Request: Reporting of Pre-enactment Swap Transaction
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/18/2011
	Date Received in OIRA: 01/24/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2014	36 Months From Approved
Responses	32,000	0	0
Time Burden (Hours)	16,000	0	0
Cost Burden (Dollars)	672,800	0	0

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Abstract: In order to comply with Regulation 44.02's reporting requirements, counterparties to pre-enactment unexpired swaps must retain existing information related to such swaps until such time as the reporting requirements of Section 4r(a)(2)(C) may be effected.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 124 Stat 1376 (2010) Name of Law: Dodd-Frank Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 Stat 1376 (2010) Name of Law: Dodd-Frank Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3038-AD24	Final or interim final rulemaking	75 FR 63080	10/14/2009

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 1603	01/11/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 18536	04/04/2011
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Interim Final Rule for Reporting Pre-enactment Swap Transactions; Proposed Collection, Comment Request: Reporting of Pre-enactment Transactions

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	32,000	0	1,800	30,200	0	0
Annual Time Burden (Hours)	16,000	0	900	15,100	0	0
Annual Cost Burden (Dollars)	672,800	0	37,845	634,955	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The burden increased is based on information received in a comment letter from the trade assoc.comprising--the "NFP End-User Coalition re: the number of respondents/entities that will be affected by the statute. See detailed information provided in the Revised Supporting Statement set forth herein.

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Annual Cost to Federal Government: $672,800

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 01/24/2011

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