2018-03950
Federal Register, Volume 83 Issue 39 (Tuesday, February 27, 2018)
[Federal Register Volume 83, Number 39 (Tuesday, February 27, 2018)]
[Notices]
[Pages 8456-8457]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-03950]
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COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities Under OMB Review
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
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SUMMARY: In compliance with the Paperwork Reduction Act of 1995 (PRA),
this notice announces that the Information Collection Request (ICR)
abstracted below has been forwarded to the Office of Management and
Budget (OMB) for review and comment. The ICR describes the nature of
the information collection and its expected costs and burden.
DATES: Comments must be submitted on or before March 29, 2018.
ADDRESSES: Comments regarding the burden estimate or any other aspect
of the information collection, including suggestions for reducing the
burden, may be submitted to the Office of Information and Regulatory
Affairs (OIA) in OMB within 30 days of this notice's publication by
either of the following methods. Please identify the comments by ``OMB
Control No. 3038-0066.''
By email addressed to: [email protected] or
By mail addressed to: the Office of Information and
Regulatory Affairs, Office of Management and Budget, Attention: Desk
Officer for the Commodity Futures Trading Commission, 725 17th Street
NW, Washington, DC 20503.
A copy of all comments submitted to OIRA should be sent to the
Commodity Futures Trading Commission (the ``Commission'') by any of the
following methods. The copies sent to the Commission also should refer
to ``OMB Control No. 3038-0066.''
The Agency's website, via its Comments Online process:
http://comments.cftc.gov/. Follow the instructions for submitting
comments through the website.
Mail: Christopher J. Kirkpatrick, Secretary, Commodity
Futures Trading Commission, Three Lafayette Centre, 1155 21st Street
NW, Washington, DC 20581.
Hand Delivery/Courier: Same as Mail above.
Federal eRulemaking Portal: http://www.regulations.gov/.
Follow the instructions for submitting comments.
Please submit your comments using only one method. All comments
must be submitted in English, or if not, accompanied by an English
translation. Comments will be posted as received to http://www.cftc.gov. You should submit only information that you wish to make
available publicly. If you wish the Commission to consider information
that is exempt from disclosure under the Freedom of Information Act, a
petition for confidential treatment of the exempt information may be
submitted according to the procedures set forth in section 145.9 of the
Commission's regulations.\1\
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\1\ 17 CFR 145.9
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The Commission reserves the right, but shall have no obligation, to
review, pre-screen, filter, redact, refuse or remove any or all of your
submission from http://www.cftc.gov that it may deem inappropriate for
publication, such as obscene language. All submissions that have been
redacted or
[[Page 8457]]
removed that contain comments on the merits of the ICR will be retained
in the public comment file and will be considered as required under the
Administrative Procedure Act and other applicable laws, and may be
accessible under the Freedom of Information Act.
A copy of the supporting statements for the collection of
information discussed herein may be obtained by visiting http://RegInfo.gov.
FOR FURTHER INFORMATION CONTACT: Jocelyn Partridge, Special Counsel,
Division of Clearing and Risk, (202) 418-5926, email:
SUPPLEMENTARY INFORMATION:
Title: Financial Resource Requirements for Derivatives Clearing
Organizations (OMB Control No. 3038-0066). This is a request for an
extension of a currently approved information collection.
Abstract: This collection of information involves the financial
resource reporting requirements set forth in section 39.11 of the
Commission's regulations. Section 5b(c)(2) of the Commodity Exchange
Act (``CEA'' or ``Act'') \2\ sets forth certain core principles with
which a derivatives clearing organization (``DCO'') must comply in
order to become registered with the Commission and to maintain such
registration. One of these core principles, core principle B, sets
forth the financial resource requirements applicable to DCOs. Section
5b(c)(2) also requires DCOs to comply with the regulations promulgated
by the Commission pursuant to section 8a(5) of the Act.\3\ Section
39.11 of the Commission's regulations, which implements core principle
B, includes the financial resource reporting requirements that are the
subject of this information collection. The information collection is
necessary for, and would be used by, the Commission to evaluate a DCO's
compliance with the financial resource requirements for DCOs prescribed
in the CEA, including core principle B, and the Commission's
regulations.
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\2\ 7 U.S.C. 7a-1(c)(2).
\3\ Section 8a(5) of the CEA authorizes the Commission to
promulgate such rules and regulations as, in the judgement of the
Commission, are reasonably necessary to effectuate any of the
provisions or to accomplish any of the purposes of the CEA. 7 U.S.C.
12a(5).
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An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB number. On December 5, 2017, the Commission
published in the Federal Register notice of the proposed extension of
this information collection and provided 60 days for public comment on
the proposed extension, 82 FR 57430, December 5, 2017 (``60-Day
Notice''). The Commission did not receive any comments. Accordingly, it
has not altered the burden estimates set forth in the 60-Day Notice.
Burden Statement
As noted above, this information collection renewal involves the
financial reporting requirement contained in section 39.11 of the
Commission's regulations. Specifically, it involves the requirements
that a DCO that is registered with the Commission report certain
information regarding the DCO's financial resources, the value thereof,
and the basis for these calculations that is necessary to assess the
DCO's compliance with the financial resources requirements of the CEA
and Commission regulations. The Commission has revised its estimate of
the total annual burden hours for this collection to account for an
increase in the number of respondents (from 14 to 17), but has
maintained the original burden hour estimate of 10 hours per quarterly
report as the reporting requirements have remain unchanged. The
respondent burden for this information collection is estimated to be as
follows:
Estimated Annual Number of Respondents: 17.
Estimated Annual Number of Reports per Respondent: 4.
Estimated Total Annual Number of Responses: 68.
Estimated Average Number of Hours per Response: 10.
Estimated Average Annual Burden Hours per Respondent: 40.
Estimated Total Annual Burden Hours: 680 hours.
Frequency of collection: Quarterly and on occasion.
Type of Respondents: derivatives clearing organizations.
There are no capital or start-up costs associated with this
information collection, nor are there any operating or maintenance
costs associated with this information collection.
Authority: 44 U.S.C. 3501 et seq.
Dated: February 22, 2018.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2018-03950 Filed 2-26-18; 8:45 am]
BILLING CODE 6351-01-P
Last Updated: February 27, 2018