Confirmation, Portfolio Reconciliation, and Portfolio Compression Requirements for Swap Dealers and Major Swap Participants 77 FR 55094 (Dec. 28, 20102

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
8-31-12 Supporting Statement.docx	Supporting Statement A	Uploaded 2012-09-20	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
196050	Confirmation, Portfolio Reconciliation, and Portfolio Compression Requirements for Swap Dealers and Major Swap Participants 77 FR 55094 (Dec. 28, 20102		Modified

ICR Details

OMB Control No: 3038-0083	ICR Reference No: 201209-3038-004
Status: Historical Active	Previous ICR Reference No: 201101-3038-004
Agency/Subagency: CFTC	Agency Tracking No:
Title: Confirmation, Portfolio Reconciliation, and Portfolio Compression Requirements for Swap Dealers and Major Swap Participants 77 FR 55094 (Dec. 28, 20102
Type of Information Collection: Existing collection in use without an OMB Control Number	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/01/2013
	Date Received in OIRA: 10/03/2012
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2016	36 Months From Approved
Responses	67,500	0	0
Time Burden (Hours)	33,750	0	0
Cost Burden (Dollars)	3,375,000	0	0

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Abstract: Section 4s(i) to the Commodity Exchange Act (CEA) requires the Commission to prescribe standards for swap dealers (SDs) and major swap participants (MSPs) related to the timely and accurate confirmation, processing, netting, documentation, and valuation of swaps. These regulations require the documentation of certain information in the swap trading relationship documentation of SDs and MSPs. Specifically, the regulations require that the swap trading relationship documentation of SDs and MSPs document whether an SD or MSP, or the counterparty of the SD or MSP, is an insured depository institution or a financial company. Additionally, the swap trading relationship documentation must include a statement addressing certain provisions of Title II of the Dodd-Frank Act. This collection would be for information the Commission would need to ensure the affected registrants' compliance with their obligations under the CEA and Commission regulations to document their swaps.

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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-AC96	Final or interim final rulemaking	77 FR 55904	09/11/2012

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 6708	02/08/2011
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Confirmation, Portfolio Reconciliation, and Portfolio Compression Requirements for Swap Dealers and Major Swap Participants 77 FR 55094 (Dec. 28, 20102

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ICR Summary of Burden

table that charts list 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	67,500	0	67,500	0	0	0
Annual Time Burden (Hours)	33,750	0	33,750	0	0	0
Annual Cost Burden (Dollars)	3,375,000	0	3,375,000	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: 10a. Short Statement (If Collection due to Agency Discretion at Final Rule stage, e.g., when numbers change due to reasons other than Statutory Requirements.): After publishing the proposed rules in the Federal Register, the Commission received information concerning the estimated number of swap dealers and major swap participants that are expected to register with the Commission. As a result of that information, the Commission has revised the estimated number from approximately 300 registrants (as proposed) to approximately 125 registrants. The burden hours have been adjusted accordingly. Other than that change, the estimated burden hours and burden costs are unchanged from the rule proposals.

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Annual Cost to Federal Government: $0

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: 10/03/2012

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