Margin and Capital Requirements for Covered Swap Entities

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
1557-0251 Swaps Supporting Statement (6.16.23 clean).docx	Supporting Statement A	Uploaded 2023-06-22	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
235297	Counterparty Disclosure		Removed
234048	Sections 45.1(d)(1) and (2) Meeting criteria for exemption		Removed
218750	Section 45.8(f)(3) Initial Margin Model Reporting		Modified
218749	Section 45.7(c) Custody Agreement		Modified
212501	Section 45.9(e) Requests for Determinations		Modified
212500	Section 45.8(h) Escalation Procedures		Modified
212499	Section 45.8(e) Periodic Review; Section 45.8(f) Control, Oversight, and Validation Mechanisms		Removed
212498	Sections 45.8(c) and (d) Initial Margin Model		Modified
212497	Section 45.5(c)(2) Required Margin		Removed
197199	Section 45.2 - Definition of "Eligible Master Netting Agreement"; Section 45.8(g) Documentation; Section 45.10 Documentation of Margin Matters		Modified

ICR Details

OMB Control No: 1557-0251	ICR Reference No: 202306-1557-002
Status: Active	Previous ICR Reference No: 202006-1557-002
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Margin and Capital Requirements for Covered Swap Entities
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: 08/29/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/28/2023
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2026	36 Months From Approved	08/31/2023
Responses	88	0	120
Time Burden (Hours)	4,895	0	14,900
Cost Burden (Dollars)	0	0	0

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Abstract: Sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act required the OCC to implement rules for swap entities under its jurisdiction imposing capital requirements and initial and variation margin requirements on all non-cleared swaps. This ICR is being submitted to revise the associated information collection to remove certain provisions determined to be obsolete or not constituting collections of information under the Paperwork Reduction Act.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 731, 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   Statute at Large: 129 Stat. 3 Name of Statute: Terrorism Risk Insurance Program Reauthorization Act of 2015
  

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:
	88 FR 20941	04/07/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 42000	06/28/2023
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

table that charts list of burden

IC Title	Form No.	Form Name
Counterparty Disclosure
Section 45.2 - Definition of "Eligible Master Netting Agreement"; Section 45.8(g) Documentation; Section 45.10 Documentation of Margin Matters
Section 45.5(c)(2) Required Margin
Section 45.7(c) Custody Agreement
Section 45.8(e) Periodic Review; Section 45.8(f) Control, Oversight, and Validation Mechanisms
Section 45.8(f)(3) Initial Margin Model Reporting
Section 45.8(h) Escalation Procedures
Section 45.9(e) Requests for Determinations
Sections 45.1(d)(1) and (2) Meeting criteria for exemption
Sections 45.8(c) and (d) Initial Margin Model

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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	88	120	0	-40	8	0
Annual Time Burden (Hours)	4,895	14,900	0	-10,450	445	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The reduction in burden is due to the removal of provisions determined to be obsolete or not constituting collections of information under the Paperwork Reduction Act.

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Annual Cost to Federal Government:

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: 06/28/2023

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