Swap Data Recordkeeping and
Reporting Requirements
Revision of a currently approved collection
No
Regular
03/16/2021
Requested
Previously Approved
36 Months From Approved
02/28/2023
229,667,758
229,667,758
1,231,670
1,231,670
53,176,964
53,176,964
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 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, clear swaps,
provide a swap execution platform, or collect swap data repository.
The regulations establish swap reporting and recordkeeping
requirements for swap execution facilities (“SEFs”), designated
contract markets (“DCMs”), swap data repositories (“SDRs”),
derivatives clearing organizations (“DCOs”), swap dealers (“SDs”),
major swap participants (“MSPs”), and non-SD/MSP/DCO
counterparties. The Commission’s regulations in part 45 require
SEFs, DCMs, and reporting counterparties to report swap data to
SDRs. The SDRs provide this data to the Commission directly. The
Commission uses swap data in connection with fulfilling its
regulatory duties. The new information collection under this
control number relates specifically to the Commission’s changes to
Part 39 of its regulations to establish a regulatory framework for
the clearing of swaps by exempt derivatives clearing organizations
(“DCOs”), pursuant to Section 5b(h) of the CEA (7 U.S.C. 7a-1(h)).
Although Part 45 applies to a number of registered entities and
market participants, including registered DCOs, the proposed
changes would affect only the reporting burden for exempt DCOs. The
information collection is necessary to fulfill the Commission’s
statutory and regulatory mandates, including systemic risk
mitigation, market monitoring, and market abuse prevention. The
information is used to provide oversight and supervision and to
ensure compliance with statutes and regulations relating to swaps.
The Commission’s regulations in part 45 require SEFs, DCMs, and
reporting counterparties to report swap data to SDRs. The SDRs
provide this data to the Commission directly. The Commission uses
swap data in connection with fulfilling its regulatory
duties.
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.