Margin and Capital Requirements for Covered Swap Entities-Final Rule

Forms and Documents

Document Name	Status
Final Rule Supporting Statement 10-30-15 5PM.doc Supporting Statement A	2015-10-30

IC Document Collections

IC ID	Document Title	Status
218751	Section 11(b)(1) Posting Initial Margin	New
218750	Section 8(f)(3) Initial Margin Model Reporting	New
218749	Section 7(c) Custody Agreement	New
212501	Section 9(e) Requests for Determinations	Unchanged
212500	Section 8(h) Escalation Procedures	Unchanged
212499	Section 8(e) Periodic Review; Section 8(f) Control, Oversight, and Validation Mechanisms	Unchanged
212498	Sections 8(c) and (d) Initial Margin Model	Unchanged
212497	Section 5(c)(2) Required Margin	Modified
197199	Section 2 - Definition of "Eligible Master Netting Agreement"; Section 8(g) Documentation; Section 10 Documentation of Margin Matters	Unchanged

ICR Details

OMB Control No: 1557-0251	ICR Reference No: 201510-1557-001
Status: Historical Active	Previous ICR Reference No: 201407-1557-001
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Margin and Capital Requirements for Covered Swap Entities-Final Rule
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: 02/18/2016
	Date Received in OIRA: 11/30/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2019	36 Months From Approved
Responses	5,200	0	0
Time Burden (Hours)	14,780	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act require the OCC, FRB, FDIC, FHFA, and FCA to adopt joint rules for swap entities under their jurisdictions imposing capital requirements and initial and variation margin requirements on all non-cleared swaps.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 731, 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: Statute at Large: 124 Stat. 1376 Name of Statute: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AD43	Final or interim final rulemaking	80 FR 74840	11/30/2015

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
Section 11(b)(1) Posting Initial Margin
Section 8(h) Escalation Procedures
Section 5(c)(2) Required Margin
Sections 8(c) and (d) Initial Margin Model
Section 8(e) Periodic Review; Section 8(f) Control, Oversight, and Validation Mechanisms
Section 9(e) Requests for Determinations
Section 2 - Definition of "Eligible Master Netting Agreement"; Section 8(g) Documentation; Section 10 Documentation of Margin Matters
Section 7(c) Custody Agreement
Section 8(f)(3) Initial Margin Model Reporting

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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	5,200	0	5,200	0	0	0
Annual Time Burden (Hours)	14,780	0	14,780	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: The increase in burden is due to the fact that this is a new collection.

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Annual Cost to Federal Government:

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: 11/30/2015

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