Ongoing Data Collection of Centrally Cleared Transactions in the U.S. Repurchase Agreement Market

ICR 201907-1505-001

OMB: 1505-0259

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2018-07-10
IC Document Collections
IC ID
Document
Title
Status
232122 New
232121 New
232116 New
ICR Details
1505-0259 201907-1505-001
Active 201806-1505-001
TREAS/DO
Ongoing Data Collection of Centrally Cleared Transactions in the U.S. Repurchase Agreement Market
New collection (Request for a new OMB Control Number)   No
Regular
Approved without change 07/30/2019
Retrieve Notice of Action (NOA) 07/30/2019
  Inventory as of this Action Requested Previously Approved
07/31/2022 36 Months From Approved
756 0 0
2,016 0 0
149,688 0 0

The Financial Stability Oversight Council (“Council”) recommended an ongoing collection of repo data in its 2016 Annual Report to Congress and maintained this recommendation in its 2017 Annual Report. The expanded monitoring of the repo market made possible by this proposed collection appropriately meets Council duties and purposes because of this market’s crucial role in providing short-term funding and performing other functions for U.S. markets. The data would also support the calculation of the Secured Overnight Funding Rate (“SOFR”), which was selected by the Alternative Reference Rates Committee (“ARRC”) as its preferred alternative rate to U.S. dollar London Interbank Offered Rate (“LIBOR”), as well as the Broad General Collateral Rate (“BGCR”), helping fulfill another Council recommendation on the creation of alternative reference rates.

US Code: 12 USC 5344(b)(1) Name of Law: null
   US Code: 12 USC 5343(c) Name of Law: null
  
None

1505-AC58 Final or interim final rulemaking 84 FR 4975 02/20/2019

No

3
IC Title Form No. Form Name
OFR_SFT_1-3
OFR_SFT_1-1
OFR_SFT_1-2

  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 756 0 0 756 0 0
Annual Time Burden (Hours) 2,016 0 0 2,016 0 0
Annual Cost Burden (Dollars) 149,688 0 0 149,688 0 0
Yes
Miscellaneous Actions
No
The expanded monitoring of the repo market made possible by this proposed collection appropriately meets Council duties and purposes because of this market’s crucial role in providing short-term funding and performing other functions for U.S. markets. The data would also support the calculation of the Secured Overnight Funding Rate (“SOFR”), which was selected by the Alternative Reference Rates Committee (“ARRC”) as its preferred alternative rate to U.S. dollar London Interbank Offered Rate (“LIBOR”), as well as the Broad General Collateral Rate (“BGCR”), helping fulfill another Council recommendation on the creation of alternative reference rates.

$70,200
No
    No
    No
No
Yes
No
Uncollected
Jennifer Leonard 202 254-6795 [email protected]

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
07/10/2018


© 2024 OMB.report | Privacy Policy