Rule 18a-3, 17 CFR 240.18a-3, establishes minimum margin requirements for nonbank security-based swap dealers (âSBSDsâ) and nonbank major security-based swap participants (âMSBSPsâ) for non-cleared security-based swaps. Under Rule 18a-3(e), nonbank SBSDs are required to monitor the risk of each account that holds non-cleared security based swaps for a counterparty and to establish, maintain, and document procedures and guidelines for monitoring the risk of accounts as part of its risk management control system required under Exchange Act Rule 15c3-4. In addition, Rule 18a-3(d)(2) provides that a nonbank SBSD seeking approval to use a model to calculate initial margin will be subject to an application process consistent with Exchange Act Rule 15c3-1e and Exchange Act Rule 18a-1(d), as applicable, governing the use of internal models to compute net capital. The information collections in Rule 18a-3 are recordkeeping requirements and are designed to facilitate the collection of adequate levels of margin assets by nonbank SBSDs to protect them against counterparty default on both current and potential future exposures.
PL:
Pub.L. 111 - 203 763
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
PL:
Pub.L. 111 - 203 764
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
US Code:
15 USC 78a et seq.
Name of Law: Securities Exchange Act of 1934
PL: Pub.L. 111 - 203 763 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
The changes in burden result from an increase in the estimated number of respondents from 7 to 13, as well as from a reduction in the estimated initial one-time burdens.
$0
No
No
No
No
Yes
No
No
Abraham Jacob 202 551-5583
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.
20250728_3235-0208_2025-14205_90 FR 35563_60-Day Collection Notice.pdf
Rule 18a-10 - Notices