Financial Resource Requirements for Derivatives Clearing Organizations

Forms and Documents

Document Name	Status
Supporting Statement 3038-0066- 2015 Subm.doc Supporting Statement A	2015-01-06
30-day FRN-3038-0066 (1-6-2015).pdf Supplementary Document	2015-01-06

IC Document Collections

IC ID	Document Title	Status
194777	Financial Resource Reporting Requirement for Derivatives Clearing Organizations	Modified

ICR Details

OMB Control No: 3038-0066	ICR Reference No: 201411-3038-003
Status: Historical Active	Previous ICR Reference No: 201110-3038-002
Agency/Subagency: CFTC	Agency Tracking No:
Title: Financial Resource Requirements for Derivatives Clearing Organizations
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: 04/08/2015
	Date Received in OIRA: 01/06/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2018	36 Months From Approved	04/30/2015
Responses	56	0	48
Time Burden (Hours)	560	0	480
Cost Burden (Dollars)	25,760	0	1,840

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Abstract: Part 39 of the Commission's regulations establishes financial reporting requirements for derivatives clearing organizations (DCOs), which are required to be registered with the Commission. The Commission will use the information in the reports to assess the DCOs' compliance with the financial resource requirements for DCOs prescribed in the Commodity Exchange Act and Commission regulations.

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Authorizing Statute(s): US Code: 7 USC 7a-1 Name of Law: Derivatives Clearing Organizations
  

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:
	79 FR 65643	11/05/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 492	01/06/2015
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
Financial Resource Reporting Requirement for Derivatives Clearing Organizations

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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	56	48	0	8	0	0
Annual Time Burden (Hours)	560	480	0	80	0	0
Annual Cost Burden (Dollars)	25,760	1,840	0	23,920	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The total number of respondents was increased from 12 to 14 based on the current number of registered DCOs.

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Annual Cost to Federal Government: $6,496

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? 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? 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: 01/06/2015

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