3170-0006 30-day FRN (published)

40512

Federal Register / Vol. 87, No. 129 / Thursday, July 7, 2022 / Notices

the changes to Sec. 43.3 7 in the Final
Rule, as explained below.
In the Final Rule, the Commission
estimated the cost for a reporting entity,
including designated contracts markets
(‘‘DCMs’’), derivatives clearing
organizations (‘‘DCOs’’), major swap
participants (‘‘MSPs’’), swap dealers
(‘‘SDs’’), non-SD/MSP/DCO
counterparties, and swap execution
facilities (‘‘SEFs’’), to modify their
systems and maintain those
modifications going forward to adopt
the Final Rule could range from $24,000
to $74,000 per entity. There are an
estimated 1,732 reporting entities, for a
total estimated cost of $84,868,000.8 As
described in the Final Rule, the
estimated cost range is based on a
number of assumptions that cover tasks
required to design, test, and implement
an updated data system based on the
new swap data elements contained in
part 43.
In the Final Rule, the Commission
further estimated that the cost for an
SDR to modify their systems, including
their data reporting, ingestion, and
validation systems, and maintain those
modifications going forward may range
from $144,000 to $510,000 per SDR.
There are three SDRs that would be
required to modify their existing
systems, for an estimated total cost of
$981,000.9
2. Amendments to Regulation 43.4

khammond on DSKJM1Z7X2PROD with NOTICES

In the Final Rule, the Commission
estimated that the amendments would
reduce the number of mirror swaps
SDRs would need to publicly
disseminate by 100 reports per each
SDR, for an aggregate burden hour
reduction of 20.10 hours. In addition,
the Commission estimated that the
aggregate reporting burden total for Sec.
43.4, as adjusted for the reduction in
reporting by SDRs of mirror swaps, is as
follows:
Estimated Number of Respondents: 4.
7 The Commission did not include any burden
estimates in the Final Rule related to the
modification or maintenance of systems in order to
be in compliance with the amendments to Sec. 43.4.
To avoid double-counting, the Commission
included the costs associated with updates to Sec.
43.4 in the estimates for Sec. 43.3, as they would
be captured in the costs of updating systems based
on the list of swap data elements in part 43.
8 Based on the Commission’s eight years of
experience in administering the existing-real time
reporting regulation, the Commission believes that
the costs to reporting entities to implement the
Final Rule will be on the lower end of the range,
closer to $24,000 than to $74,000.
9 As described in the Final Rule, the estimated
cost ranges are based on a number of assumptions
that cover the set of tasks required for the SDR to
design, test, and implement an updated data system
based on the new swap data elements contained in
part 43.

VerDate Sep<11>2014

17:12 Jul 06, 2022

Jkt 256001

Estimated Number of Reports per
Respondent: 1,499,900.
Average Number of Hours per Report:
0.0067.
Estimated Gross Annual Reporting
Burden: 40,497.
The Commission did not include any
burden estimates in the Proposal related
to the modification or maintenance of
systems in order to be in compliance
with the proposed amendments to Sec.
43.4. To avoid double-counting, the
Commission included the costs
associated with updates to Sec. 43.4 in
the estimates for Sec. 43.3 discussed
above, as they would be captured in the
costs of updating systems based on the
list of swap data elements in part 43.
Burden Statement: Provisions of
CFTC Regulations 43.3, 43.4, and 43.6
result in information collection
requirements within the meaning of the
PRA. With respect to the ongoing
reporting and recordkeeping burdens
associated with swaps, the CFTC is
revising its estimate of the burden of
this collection (excluding estimates
related to the Commission’s block trade
regulation, which is not affected by the
final rulemaking). The Commission
believes that SDs, MSPs, SEFs, DCMs,
DCOs, and non-SD/MSP/DCO
counterparties incur an annual timeburden of 771,831 hours. This timeburden represents a proportion of the
burden respondents incur to operate
and maintain their swap data
recordkeeping and reporting systems.
The respondent burden for this
collection (excluding estimates related
to the Commission’s block trade
regulation) is estimated to be as follows:
Respondents/Affected Entities: SDs,
MSPs, and other counterparties to a
swap transaction (i.e., non-SD/MSP/
DCO counterparties).
Estimated Number of Respondents:
1,732.
Estimated Average Burden Hours per
Respondent: 445.
Estimated Total Annual Burden
Hours: 771,831 hours.
Frequency of Collection: Ongoing.
Capital or Operating and
Maintenance Costs: $85,849,000.10
10 In the Proposal, the Commission omitted the
aggregate reporting burden for proposed Sec. 43.3
and Sec. 43.4 in the preamble and instead provided
PRA estimates for all of part 43 (excluding estimates
related to the Commission’s block trade regulation,
which is not affected by the final rulemaking). In
the Final Rule, the Commission included PRA
estimates for final Sec. 43.3 and Sec. 43.4 in the
preamble because these are the only sections of part
43 affected by the final rulemaking. Attachment A
to the supporting statement for the Proposal only
showed the changes in the burden estimates for Sec.
43.3 and Sec. 43.4 for the Proposal. For the Final
Rule, the Commission revised Attachment A to the
supporting statement that was filed with OMB to
include aggregate burden estimates for all

PO 00000

Frm 00030

Fmt 4703

Sfmt 4703

(Authority: 44 U.S.C. 3501 et seq.)
Dated: July 1, 2022.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2022–14506 Filed 7–6–22; 8:45 am]
BILLING CODE 6351–01–P

BUREAU OF CONSUMER FINANCIAL
PROTECTION
[Docket No. CFPB–2022–0043]

Agency Information Collection
Activities: Comment Request
Bureau of Consumer Financial
Protection.
ACTION: Notice and request for comment.
AGENCY:

In accordance with the
Paperwork Reduction Act of 1995
(PRA), the Consumer Financial
Protection Bureau (CFPB or Bureau)
requests the extension of the Office of
Management and Budget’s (OMB’s)
approval of the existing information
collection titled ‘‘Consumer Leasing Act
(Regulation M),’’ approved under OMB
Control Number 3170–0006.
DATES: Written comments are
encouraged and must be received on or
before August 8, 2022 to be assured of
consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. In general, all
comments received will become public
records, including any personal
information provided. Sensitive
personal information, such as account
numbers or Social Security numbers,
should not be included.
FOR FURTHER INFORMATION CONTACT:
Documentation prepared in support of
SUMMARY:

requirements in the collection (excluding estimates
related to the Commission’s block trade regulation,
as the burden estimates for the block trade
regulation are not affected by the final rulemaking).
In addition, in the Final Rule, the Commission
revised the information collection to include
burden estimates for one-time costs that SDRs,
SEFs, DCMs, and reporting counterparties could
incur to modify their systems to adopt the changes
to part 43, as well as burden estimates for these
entities to perform any annual maintenance or
adjustments to reporting systems related to the
changes. The estimates in the supporting statements
for the Final Rule are consistent with the estimates
shown in the Burden Statement above (e.g., the
supporting statement for the Final Rule reflects that
there are 1,732 respondents and that the total
annual number of burden hours across all
respondents is 771,831.)

E:\FR\FM\07JYN1.SGM

07JYN1

khammond on DSKJM1Z7X2PROD with NOTICES

Federal Register / Vol. 87, No. 129 / Thursday, July 7, 2022 / Notices
this information collection request is
available at www.regulations.gov.
Requests for additional information
should be directed to Anthony May,
Paperwork Reduction Act Officer, at
(202) 841–0544, or email: CFPB_PRA@
cfpb.gov. If you require this document
in an alternative electronic format,
please contact CFPB_Accessibility@
cfpb.gov. Please do not submit
comments to these email boxes.
SUPPLEMENTARY INFORMATION:
Title of Collection: Consumer Leasing
Act (Regulation M).
OMB Control Number: 3170–0006.
Type of review: Extension of a
currently approved information
collection.
Affected Public: Businesses and other
for-profit institutions.
Estimated Number of Respondents:
13,718.
Estimated Total Annual Burden
Hours: 2,126.
Abstract: Consumers rely on the
disclosures required by the Consumer
Leasing Act, 15 U.S.C. 1667 et seq.
(CLA) and Regulation M, 12 CFR 1013,
for information to comparison shop
among leases as well as to ascertain the
true costs and terms of lease offers.
Federal/State enforcement and private
litigants use the records to ascertain
whether accurate and complete
disclosures of the cost of leases have
been provided to consumers prior to
consummation of the lease. This
information provides the primary
evidence of law violations in CLA
enforcement actions brought by Federal
agencies. The agency’s ability to enforce
the CLA would be significantly
impaired without Regulation M’s
recordkeeping requirements.
Request for Comments: The Bureau
published a 60-day Federal Register
notice on 4/7/2022 (87 FR 20394) under
Docket Number: CFPB–2022–0021. The
Bureau is soliciting comments on: (a)
Whether the collection of information is
necessary for the proper performance of
the functions of the Bureau, including
whether the information will have
practical utility; (b) The accuracy of the
Bureau’s estimate of the burden of the
collection of information, including the
validity of the methods and the
assumptions used; (c) Ways to enhance
the quality, utility, and clarity of the
information to be collected; and (d)
Ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Comments submitted in response to this
notice will be submitted to OMB as part
of its review of this request. All

VerDate Sep<11>2014

17:12 Jul 06, 2022

Jkt 256001

comments will become a matter of
public record.
Anthony May,
Paperwork Reduction Act Officer, Consumer
Financial Protection Bureau.
[FR Doc. 2022–14471 Filed 7–6–22; 8:45 am]
BILLING CODE 4810–AM–P

BUREAU OF CONSUMER FINANCIAL
PROTECTION
[Docket No. CFPB–2022–0044]

Agency Information Collection
Activities: Comment Request
Bureau of Consumer Financial
Protection.
ACTION: Notice and request for comment.
AGENCY:

In accordance with the
Paperwork Reduction Act of 1995
(PRA), the Consumer Financial
Protection Bureau (CFPB or Bureau)
requests the extension of the Office of
Management and Budget’s (OMB’s)
approval of the existing information
collection titled ‘‘Mortgage Acts and
Practices—Advertising (Regulation N)’’
approved under OMB Control Number
3170–0009.
DATES: Written comments are
encouraged and must be received on or
before August 8, 2022 to be assured of
consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. In general, all
comments received will become public
records, including any personal
information provided. Sensitive
personal information, such as account
numbers or Social Security numbers,
should not be included.
FOR FURTHER INFORMATION CONTACT:
Documentation prepared in support of
this information collection request is
available at www.regulations.gov.
Requests for additional information
should be directed to Anthony May,
Paperwork Reduction Act Officer, at
(202) 841–0544, or email: CFPB_PRA@
cfpb.gov. If you require this document
in an alternative electronic format,
please contact CFPB_Accessibility@
cfpb.gov. Please do not submit
comments to these email boxes.
SUPPLEMENTARY INFORMATION:
Title of Collection: Mortgage Acts and
Practices—Advertising (Regulation N).
SUMMARY:

PO 00000

Frm 00031

Fmt 4703

Sfmt 4703

40513

OMB Control Number: 3170–0009.
Type of review: Extension of a
currently approved information
collection.
Affected Public: Businesses and other
for-profit institutions.
Estimated Number of Respondents:
506.
Estimated Total Annual Burden
Hours: 253.
Abstract: Regulation N (12 CFR part
1014) prohibits misrepresentations
about the terms of mortgage credit
products in commercial
communications and requires that
covered persons keep certain related
records for a period of twenty-four (24)
months from last dissemination. The
information that Regulation N requires
covered persons to retain is necessary to
ensure efficient and effective law
enforcement to address deceptive
practices that occur in the mortgage
advertising area.
Request for Comments: The Bureau
published a 60-day Federal Register
notice on 2/25/2022 (87 FR 10776)
under Docket Number: CFPB–2022–
0012. The Bureau is soliciting
comments on: (a) Whether the collection
of information is necessary for the
proper performance of the functions of
the Bureau, including whether the
information will have practical utility;
(b) The accuracy of the Bureau’s
estimate of the burden of the collection
of information, including the validity of
the methods and the assumptions used;
(c) Ways to enhance the quality, utility,
and clarity of the information to be
collected; and (d) Ways to minimize the
burden of the collection of information
on respondents, including through the
use of automated collection techniques
or other forms of information
technology. Comments submitted in
response to this notice will be submitted
to OMB as part of its review of this
request. All comments will become a
matter of public record.
Anthony May,
Paperwork Reduction Act Officer, Consumer
Financial Protection Bureau.
[FR Doc. 2022–14472 Filed 7–6–22; 8:45 am]
BILLING CODE 4810–AM–P

BUREAU OF CONSUMER FINANCIAL
PROTECTION
[Docket No. CFPB–2022–0045]

Agency Information Collection
Activities: Comment Request
Bureau of Consumer Financial
Protection.
ACTION: Notice and request for comment.
AGENCY:

E:\FR\FM\07JYN1.SGM

07JYN1