Disclosure and Retention of Certain Information Relating to Cleared Swaps Customer Collateral

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
30-day Notice 3038-0091.pdf	Supplementary Document	Uploaded 2017-07-27	Available
(2017) 60 Day FRN - 0091.pd.pdf	Supplementary Document	Uploaded 2017-07-20	Available
(2017) Supporting Statement - 0091.docx	Supporting Statement A	Uploaded 2017-07-20	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
209115	Enhancing Protections Afforded Customers and Customer Funds Held by FCMs and DCOs		Removed
198102	Disclosure and Retention of Certain Information Relating to Cleared Swaps Customer Collateral		Modified

ICR Details

OMB Control No: 3038-0091	ICR Reference No: 201707-3038-004
Status: Historical Active	Previous ICR Reference No: 201310-3038-006
Agency/Subagency: CFTC	Agency Tracking No:
Title: Disclosure and Retention of Certain Information Relating to Cleared Swaps Customer Collateral
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/25/2017
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/27/2017
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2020	36 Months From Approved	11/30/2017
Responses	89,148	0	26,212
Time Burden (Hours)	24,820	0	62,600
Cost Burden (Dollars)	272,000	0	626,000

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Abstract: 7 USC 6d(f) imposes requirements on futures commission merchants (“FCMs”) and derivatives clearing organizations (“DCOs”) regarding the safeguarding and use of collateral provided by customers to serve as margin for cleared swaps transactions. 17 CFR Part 22 contains implementing regulations. Sections 22.2(g), 22.5(a), 22.11, 22.12, 22.16 and 22.17 impose reporting, recordkeeping and third-party disclosure requirements which are essential (i) to ensuring that FCMs and DCOs develop and maintain adequate customer protections and procedures over Cleared Swap Customer funds as required by the CEA, and Commission regulations, and (ii) to the effective evaluation of these registrants’ actual compliance with the CEA and Commission regulations.

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Authorizing Statute(s): US Code: 7 USC 6d(f) Name of Law: CEA
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 18900	04/24/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 34933	07/27/2017
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
Disclosure and Retention of Certain Information Relating to Cleared Swaps Customer Collateral
Enhancing Protections Afforded Customers and Customer Funds Held by FCMs and DCOs

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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	89,148	26,212	0	62,936	0	0
Annual Time Burden (Hours)	24,820	62,600	0	-37,780	0	0
Annual Cost Burden (Dollars)	272,000	626,000	0	-354,000	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The Commission is revising its estimate of the burden for this collection to reflect its estimate of the current number of affected registrants.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 07/27/2017

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