Confirmation, Portfolio Reconciliation, and Portfolio Compression Requirements for Swap Dealers and Major Swap Participants 77 FR 55094 (Dec. 28, 20102
ICR 201209-3038-004
OMB: 3038-0083
Federal Form Document
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 3038-0083 can be found here:
Confirmation, Portfolio
Reconciliation, and Portfolio Compression Requirements for Swap
Dealers and Major Swap Participants 77 FR 55094 (Dec. 28,
20102
Existing collection in use without an OMB Control Number
Section 4s(i) to the Commodity
Exchange Act (CEA) requires the Commission to prescribe standards
for swap dealers (SDs) and major swap participants (MSPs) related
to the timely and accurate confirmation, processing, netting,
documentation, and valuation of swaps. These regulations require
the documentation of certain information in the swap trading
relationship documentation of SDs and MSPs. Specifically, the
regulations require that the swap trading relationship
documentation of SDs and MSPs document whether an SD or MSP, or the
counterparty of the SD or MSP, is an insured depository institution
or a financial company. Additionally, the swap trading relationship
documentation must include a statement addressing certain
provisions of Title II of the Dodd-Frank Act. This collection would
be for information the Commission would need to ensure the affected
registrants' compliance with their obligations under the CEA and
Commission regulations to document their swaps.
10a. Short Statement (If
Collection due to Agency Discretion at Final Rule stage, e.g., when
numbers change due to reasons other than Statutory Requirements.):
After publishing the proposed rules in the Federal Register, the
Commission received information concerning the estimated number of
swap dealers and major swap participants that are expected to
register with the Commission. As a result of that information, the
Commission has revised the estimated number from approximately 300
registrants (as proposed) to approximately 125 registrants. The
burden hours have been adjusted accordingly. Other than that
change, the estimated burden hours and burden costs are unchanged
from the rule proposals.
$0
No
No
No
Yes
No
Uncollected
John Nowlin
202-418-5427
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.