Reporting Requirements Associated with Regulation KK (Margin and Capital Requirements for Covered Swaps Entities)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
RegKK_20141205_omb.pdf	Supporting Statement A	Uploaded 2014-12-05	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
211489	Ongoing Reporting - Sections 237.22a1 and 237.22e		New
211488	Initial Reporting - Sections 237.22a1 and 237.22e		New

ICR Details

OMB Control No: 7100-0364	ICR Reference No: 201402-7100-003
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FRS	Agency Tracking No: Reg KK
Title: Reporting Requirements Associated with Regulation KK (Margin and Capital Requirements for Covered Swaps Entities)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/11/2014
	Date Received in OIRA: 12/11/2014
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2017	36 Months From Approved
Responses	14	0	0
Time Burden (Hours)	98	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Reserve has adopted a final rule that would implement section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Regulation KK treats an uninsured U.S. branch or agency of a foreign bank as an insured depository institution for purposes of section 716 of the Dodd-Frank Act and establishes a process by which a state member bank or uninsured state branch or agency of a foreign bank may request a transition period to conform its swaps activities to the Dodd-Frank Act.

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Authorizing Statute(s): US Code: 5 USC 552(b)(4) Name of Law: Freedom of Information Act
   US Code: 5 USC 552(b)(8) Name of Law: Freedom of Information Act
   US Code: 15 USC 8305(f) Name of Law: Dodd-Frank Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
7100-AD96	Final or interim final rulemaking	79 FR 340	01/03/2014

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 34545	06/10/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 340	01/03/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
Initial Reporting - Sections 237.22a1 and 237.22e
Ongoing Reporting - Sections 237.22a1 and 237.22e

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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	14	0	14	0	0	0
Annual Time Burden (Hours)	98	0	98	0	0	0
Annual Cost Burden (Dollars)	0	0	0	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:

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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: 12/11/2014

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