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

ICR 202207-1505-007

OMB: 1505-0259

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2022-07-29
IC Document Collections
IC ID
Document
Title
Status
232122 Unchanged
232121 Modified
232116 Unchanged
ICR Details
1505-0259 202207-1505-007
Received in OIRA 201907-1505-001
TREAS/DO
Ongoing Data Collection of Centrally Cleared Transactions in the U.S. Repurchase Agreement Market
Extension without change of a currently approved collection   No
Regular 07/29/2022
  Requested Previously Approved
36 Months From Approved 07/31/2022
756 756
1,512 2,016
149,688 149,688

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)
   US Code: 12 USC 5343(c)
  
None

Not associated with rulemaking

  87 FR 34758 06/07/2022
87 FR 44190 07/25/2022
No

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

  Total Request 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 756 756 0 0 0 0
Annual Time Burden (Hours) 1,512 2,016 0 0 -504 0
Annual Cost Burden (Dollars) 149,688 149,688 0 0 0 0
No
No

$70,200
No
    No
    No
No
Yes
No
No
John Zitko 999 999-9999

  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.
07/29/2022


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