Large Trader Reporting for Physical Commodity Swaps

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 40 CFTCForm 40	Form and Instruction	Modified	Available
Form 102 CFTCForm 102	Form and Instruction	Modified	Available
Form 102 Position Reports for Physical Commodity Swaps	Form and Instruction	Modified	Repair queued
(2021) 0095 Part 20 Supporting Statement Renewal 2021_final 5.19.2021.docx	Supporting Statement A	Uploaded 2021-05-19	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
194908	Position Reports for Physical Commodity Swaps	Form and Instruction	Modified	CFTCForm 40
194908	Position Reports for Physical Commodity Swaps	Form and Instruction	Modified	CFTCForm 102
194908	Position Reports for Physical Commodity Swaps	Form and Instruction	Modified

ICR Details

OMB Control No: 3038-0095	ICR Reference No: 202105-3038-001
Status: Historical Active	Previous ICR Reference No: 201804-3038-008
Agency/Subagency: CFTC	Agency Tracking No:
Title: Large Trader Reporting for Physical Commodity Swaps
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/08/2021
Retrieve Notice of Action (NOA)	Date Received in OIRA: 05/19/2021
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2024	36 Months From Approved	07/31/2021
Responses	41,608	0	38,409
Time Burden (Hours)	65,412	0	60,382
Cost Burden (Dollars)	41,590,793	0	38,251,139

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Abstract: The Part 20 Reporting Rules for physical commodity swaps, in conjunction with the Commission’s current large trader reporting system for commodity futures and options, are used by the Commission to support its market, financial and trading abuse surveillance programs. Swaps position reports represent a critical component for the implementation of an effective surveillance-based regulatory approach that includes market, financial and trading surveillance programs.

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Authorizing Statute(s): US Code: 7 USC 5 Name of Law: Position Reports for Physical Commodity Swaps
   US Code: 7 USC 6, 6a, 6c, 6f, 6g, 6t, 12a, 19 Name of Law: Position Reports for Physical Commodity Swaps
   US Code: 7 USC 1, 1a, 2 Name of Law: Position Reports for Physical Commodity Swaps
  

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:
	86 FR 11267	02/24/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 27072	05/19/2021
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
Position Reports for Physical Commodity Swaps	40, 102	CFTCForm 102 ,   CFTCForm 40

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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	41,608	38,409	0	3,199	0	0
Annual Time Burden (Hours)	65,412	60,382	0	5,030	0	0
Annual Cost Burden (Dollars)	41,590,793	38,251,139	0	3,339,654	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The extension is updating the total burden based on reported data. The total number of affected firms has increased from 4,824 to 5,088. The number of respondents and the time required per response directly correlates to the changes in the burden total of this collection renewal.

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Annual Cost to Federal Government: $2,000,000

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? No

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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: 05/19/2021

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