Swap Data Recordkeeping and
Reporting Requirements: Pre-Enactment and Transition Swaps
Revision of a currently approved collection
No
Regular
11/25/2020
Requested
Previously Approved
36 Months From Approved
08/31/2022
30,125
30,125
16,698
17,328
0
1,285,434
The information is needed to ensure
that the Commission and other regulators have access to complete
data concerning swaps, as required by the Commodity Exchange Act as
amended by the Dodd-Frank Act. The data would be reported to and
maintained in swap data repositories, where it would not be
disclosed publicly, but would be available to the Commission and
other financial regulators for fulfillment of various regulatory
mandates. The information is for use by government entities to
provide oversight and supervision and to ensure compliance with
statutes and regulations relating to swaps. Respondents are
entities or persons who trade swaps. The Commission’s regulations
in Part 46 require reporting counterparties to report data for
pre-enactment swap and transition swaps to SDRs. The SDRs provide
this data to the Commission directly. The Commission uses this data
in connection with fulfilling its regulatory duties.
The Commission is finalizing
amendments to Part 46 of the Commission’s regulations in order to
improve the quality of swap data and to streamline regulatory
requirements governing data reporting. The final rule discusses
adjustments to burden hours calculations for Information Collection
3038-0089 to account for modified and new burdens associated with
the proposed changes to the regulation. The Commission is also
updating the overall burden hours, collection volumes, and costs
related to Information Collection 3038-0089, based on updated
information related to other collections within Information
Collection 3038-0089 that are not being modified by this proposal.
For example, the Commission is updating the estimated numbers of
each type of entity affected by this collection to accurately
reflect the current number of each type of entity.
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.