Swap Data Repositories; Registration and Regulatory Requirements

Forms and Documents

Document Name	Status
3038-0086-Part 49 PRA Renewal Supporting Statement 04 01 15.doc Supporting Statement A	2015-04-01
2015-07468 Federal Registry (3038-0086).pdf Supplementary Document	2015-04-01
PRA 3038-0086 Federal Register.pdf Supplementary Document	2015-04-01

IC Document Collections

IC ID	Document Title	Status
195635	Swap Data Repositories, Registration and Regulatory Requirements	Modified

ICR Details

OMB Control No: 3038-0086	ICR Reference No: 201503-3038-001
Status: Historical Active	Previous ICR Reference No: 201201-3038-004
Agency/Subagency: CFTC	Agency Tracking No:
Title: Swap Data Repositories; Registration and Regulatory Requirements
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: 11/21/2015
	Date Received in OIRA: 04/02/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2018	36 Months From Approved	11/30/2015
Responses	7,209,330,000	0	15
Time Burden (Hours)	340,230	0	448,853
Cost Burden (Dollars)	80,978,370	0	182,625,011

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Abstract: Section 728 of the Dodd-Frank Act specifically requires the Commodity Futures Trading Commission ("CFTC" or "Commission) to establish certain standards for the governance, registration, and statutory duties applicable to swap data repositories ("SDRs"). SDRs will be registered with the Commission and whose function is to maintain swap transaction and pricing data and provide direct access to the Commission of such swap data.

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Authorizing Statute(s): US Code: 7 USC 24a Name of Law: Swap Data Repositories
  

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:
	80 FR 3956	01/26/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 17413	04/01/2015
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Swap Data Repositories, Registration and Regulatory Requirements

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ICR Summary 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	7,209,330,000	15	0	7,209,329,985	0	0
Annual Time Burden (Hours)	340,230	448,853	0	-108,623	0	0
Annual Cost Burden (Dollars)	80,978,370	182,625,011	0	-101,646,641	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 Commission is adjusting the total burden estimates used to calculate the responses to Item 13 based on the number of SDRs that have registered with the Commission since the finalization of part 49. The original estimates were based on a total of 15 registered SDRs. In reality, there are currently 4 registered SDRs and the number of registered SDRs is not expected to grow much beyond this amount. Therefore, the Commission is now calculating the total hours burdens listed in Item 13 based on 6 registered SDRs. The Commission is also adjust the cost burden estimate in Item 14 based on the lower estimated number of SDRs explained above and the estimated changes in personnel costs.

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Annual Cost to Federal Government: $7,599,665

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? Yes

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]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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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: 04/02/2015

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