Margin and Capital Requirements for Covered Swap Entities-Final Rule

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
1557-0251 Swaps Supporting Statement 11-15-18 (2).doc	Supporting Statement A	Uploaded 2018-11-15	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
234048	Sections 45.1(d)(1) and (2) Meeting criteria for exemption		New
218751	Section 45.11(b)(1) Posting Initial Margin		Modified
218750	Section 45.8(f)(3) Initial Margin Model Reporting		Modified
218749	Section 45.7(c) Custody Agreement		Modified
212501	Section 45.9(e) Requests for Determinations		Modified
212500	Section 45.8(h) Escalation Procedures		Modified
212499	Section 45.8(e) Periodic Review; Section 45.8(f) Control, Oversight, and Validation Mechanisms		Modified
212498	Sections 45.8(c) and (d) Initial Margin Model		Modified
212497	Section 45.5(c)(2) Required Margin		Modified
197199	Section 45.2 - Definition of "Eligible Master Netting Agreement"; Section 45.8(g) Documentation; Section 45.10 Documentation of Margin Matters		Modified

ICR Details

OMB Control No: 1557-0251	ICR Reference No: 201811-1557-003
Status: Historical Active	Previous ICR Reference No: 201510-1557-001
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Margin and Capital Requirements for Covered Swap Entities-Final Rule
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: 03/11/2019
	Date Received in OIRA: 02/05/2019
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2022	36 Months From Approved	03/31/2019
Responses	2,610	0	5,200
Time Burden (Hours)	17,390	0	14,780
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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 55598	11/06/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 1825	02/05/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 10

table that charts list of burden

IC Title	Form No.	Form Name
Section 45.11(b)(1) Posting Initial Margin
Section 45.8(h) Escalation Procedures
Section 45.5(c)(2) Required Margin
Sections 45.8(c) and (d) Initial Margin Model
Section 45.8(e) Periodic Review; Section 45.8(f) Control, Oversight, and Validation Mechanisms
Section 45.9(e) Requests for Determinations
Section 45.2 - Definition of "Eligible Master Netting Agreement"; Section 45.8(g) Documentation; Section 45.10 Documentation of Margin Matters
Section 45.7(c) Custody Agreement
Section 45.8(f)(3) Initial Margin Model Reporting
Sections 45.1(d)(1) and (2) Meeting criteria for exemption

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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	2,610	5,200	0	0	-2,590	0
Annual Time Burden (Hours)	17,390	14,780	0	0	2,610	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 merger of OMB Control No. 1557-0335 into this collection increased the burden and the decrease in the number of institutions subject to the rule decreased the burden, resulting in an overall burden increase.

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Annual Cost to Federal Government:

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: 02/05/2019

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