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

Forms and Documents
Document
Name
Status
Supporting Statement A
2012-09-20
ICR Details
3038-0083 201209-3038-004
Historical Active 201101-3038-004
CFTC
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   No
Regular
Approved without change 02/01/2013
Retrieve Notice of Action (NOA) 10/03/2012
  Inventory as of this Action Requested Previously Approved
02/29/2016 36 Months From Approved
67,500 0 0
33,750 0 0
3,375,000 0 0

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.

PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd-Frank Act
  
PL: Pub.L. 111 - 203 124 Stat. 1376 (2010) Name of Law: Dodd - Frank Act

3038-AC96 Final or interim final rulemaking 77 FR 55904 09/11/2012

  76 FR 6708 02/08/2011
No

  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 67,500 0 67,500 0 0 0
Annual Time Burden (Hours) 33,750 0 33,750 0 0 0
Annual Cost Burden (Dollars) 3,375,000 0 3,375,000 0 0 0
No
No
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.
10/03/2012


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