81 FR 23082 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; Margin and Capital Requirements for Covered Swap Entities: Exemptions

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

Federal Register Volume 81, Issue 75 (April 19, 2016)

Page Range		23082-23083
FR Document		2016-08936

The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, ``Margin and Capital Requirements for Covered Swap Entities: Exemptions.''

Federal Register, Volume 81 Issue 75 (Tuesday, April 19, 2016)

[Federal Register Volume 81, Number 75 (Tuesday, April 19, 2016)]
[Notices]
[Pages 23082-23083]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-08936]



[[Page 23082]]

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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Margin and Capital Requirements for Covered 
Swap Entities: Exemptions

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to comment on a continuing information collection, as required 
by the Paperwork Reduction Act of 1995 (PRA).
    In accordance with the requirements of the PRA, the OCC may not 
conduct or sponsor, and the respondent is not required to respond to, 
an information collection unless it displays a currently valid Office 
of Management and Budget (OMB) control number.
    The OCC is soliciting comment concerning the renewal of its 
information collection titled, ``Margin and Capital Requirements for 
Covered Swap Entities: Exemptions.''

DATES: Comments must be submitted on or before June 20, 2016.

ADDRESSES: Because paper mail in the Washington, DC area and at the OCC 
is subject to delay, commenters are encouraged to submit comments by 
email, if possible. Comments may be sent to: Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 
Attention: 1557-0335, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to 
(571) 465-4326 or by electronic mail to [email protected]. You may 
personally inspect and photocopy comments at the OCC, 400 7th Street 
SW., Washington, DC 20219. For security reasons, the OCC requires that 
visitors make an appointment to inspect comments. You may do so by 
calling (202) 649-6700 or, for persons who are deaf or hard of hearing, 
TTY, (202) 649-5597. Upon arrival, visitors will be required to present 
valid government-issued photo identification and to submit to security 
screening in order to inspect and photocopy comments.
    All comments received, including attachments and other supporting 
materials, are part of the public record and subject to public 
disclosure. Do not include any information in your comment or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490 or, for persons who are deaf or hard of 
hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities 
Division, Office of the Comptroller of the Currency, 400 7th Street 
SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from the OMB for each collection of 
information they conduct or sponsor. ``Collection of information'' is 
defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency 
requests or requirements that members of the public submit reports, 
keep records, or provide information to a third party. Section 
3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) requires Federal 
agencies to provide a 60-day notice in the Federal Register concerning 
each proposed collection of information, including each proposed 
extension of an existing collection of information, before submitting 
the collection to OMB for approval. To comply with this requirement, 
the OCC is publishing notice of the proposed collection of information 
set forth in this document.
    In connection with issuance of the interim final rule entitled 
``Margin and Capital Requirements for Covered Swap Entities,'' \1\ OMB 
provided a six-month approval for this information collection. The OCC 
is proposing to extend OMB approval of the collection for the standard 
three years.
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    \1\ 80 FR 74915 (November 30, 2015).
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    Title: Margin and Capital Requirements for Covered Swap Entities: 
Exemptions.
    OMB Control No.: 1557-0335.
    Description: The OCC issued an interim final rule required by the 
Terrorism Risk Insurance Program Reauthorization Act of 2015 
(TRIPRA).\2\ Title III of TRIPRA, the ``Business Risk Mitigation and 
Price Stabilization Act of 2015,'' amends the statutory provisions 
added by the Dodd-Frank Act relating to margin requirements for non-
cleared swaps and non-cleared security-based swaps. Section 302 of 
TRIPRA amends sections 731 and 764 of the Dodd-Frank Act to provide 
that the initial and variation margin requirements do not apply to 
certain transactions with specified counterparties that qualify for an 
exemption or exception from clearing. Non-cleared swaps and non-cleared 
security-based swaps that are exempt under section 302 of TRIPRA will 
not be subject to the Agencies' \3\ rules implementing margin 
requirements.\4\ The effect of the interim final rule is to augment 
provisions of the final rule published by the Agencies in November 2015 
\5\ that allow swap entities to collect no initial or variation margin 
from certain ``other counterparties'' like commercial end-users with a 
provision that grants an exception from the margin requirements for 
certain swaps with these and certain additional counterparties.
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    \2\ Public Law 114-1, 129 Stat. 3 (2015).
    \3\ The Agencies are the Office of the Comptroller of the 
Currency, the Board of Governors of the Federal Reserve System, the 
Federal Deposit Insurance Corporation, the Farm Credit 
Administration, and the Federal Housing Finance Agency.
    \4\ The interim final rule is a companion rule to a final rule 
adopted to implement section 731 and 764 of the Dodd-Frank Act.
    \5\ The final rule was issued on November 30, 2015 (80 FR 
74840).
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    The reporting requirements in the interim final rule are found in 
12 CFR 45.1(d), which refers to other statutory provisions that set 
forth conditions for an exemption from clearing. Section 45.1(d)(1) 
provides an exemption for non-cleared swaps if one of the 
counterparties to the swap is not a financial entity, is using swaps to 
hedge or mitigate commercial risk, and notifies the Commodity Futures 
Trading Commission of how it generally meets its financial obligations 
associated with entering into non-cleared swaps. Section 45.1(d)(2) 
provides an exemption for security-based swaps if the counterparty 
notifies the Securities and Exchange Commission of how it generally 
meets its financial obligations associated with entering into non-
cleared security-based swaps.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals; Businesses or other for-profit.
    Estimated Number of Respondents: 20.
    Estimated Total Annual Burden: 20,000.
    Comments submitted in response to this notice will be summarized, 
included in the request for OMB approval, and will become a matter of 
public record. Comments are invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's estimate of the information 
collection burden;

[[Page 23083]]

    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: April 13, 2016.
Mary Hoyle Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2016-08936 Filed 4-18-16; 8:45 am]
BILLING CODE 4810-33-P

23082 Federal Register / Vol. 81, No. 75 / Tuesday, April 19, 2016 / Notices

DEPARTMENT OF THE TREASURY comment or supporting materials that cleared security-based swaps that are
you consider confidential or exempt under section 302 of TRIPRA
Office of the Comptroller of the inappropriate for public disclosure. will not be subject to the Agencies’ 3
Currency FOR FURTHER INFORMATION CONTACT: rules implementing margin
Shaquita Merritt, OCC Clearance requirements.4 The effect of the interim
Agency Information Collection final rule is to augment provisions of the
Officer, (202) 649–5490 or, for persons
Activities: Information Collection final rule published by the Agencies in
who are deaf or hard of hearing, TTY,
Renewal; Comment Request; Margin November 2015 5 that allow swap
(202) 649–5597, Legislative and
and Capital Requirements for Covered entities to collect no initial or variation
Regulatory Activities Division, Office of
Swap Entities: Exemptions margin from certain ‘‘other
the Comptroller of the Currency, 400 7th
AGENCY: Office of the Comptroller of the Street SW., Suite 3E–218, Mail Stop counterparties’’ like commercial end-
Currency (OCC), Treasury. 9W–11, Washington, DC 20219. users with a provision that grants an
ACTION: Notice and request for comment. SUPPLEMENTARY INFORMATION: Under the
exception from the margin requirements
PRA (44 U.S.C. 3501–3520), Federal for certain swaps with these and certain
SUMMARY: The OCC, as part of its agencies must obtain approval from the additional counterparties.
continuing effort to reduce paperwork OMB for each collection of information The reporting requirements in the
and respondent burden, invites the they conduct or sponsor. ‘‘Collection of interim final rule are found in 12 CFR
general public and other Federal information’’ is defined in 44 U.S.C. 45.1(d), which refers to other statutory
agencies to comment on a continuing 3502(3) and 5 CFR 1320.3(c) to include provisions that set forth conditions for
information collection, as required by agency requests or requirements that an exemption from clearing. Section
the Paperwork Reduction Act of 1995 members of the public submit reports, 45.1(d)(1) provides an exemption for
(PRA). keep records, or provide information to non-cleared swaps if one of the
In accordance with the requirements a third party. Section 3506(c)(2)(A) of counterparties to the swap is not a
of the PRA, the OCC may not conduct the PRA (44 U.S.C. 3506(c)(2)(A)) financial entity, is using swaps to hedge
or sponsor, and the respondent is not requires Federal agencies to provide a or mitigate commercial risk, and notifies
required to respond to, an information 60-day notice in the Federal Register the Commodity Futures Trading
collection unless it displays a currently concerning each proposed collection of Commission of how it generally meets
valid Office of Management and Budget information, including each proposed its financial obligations associated with
(OMB) control number. extension of an existing collection of entering into non-cleared swaps.
The OCC is soliciting comment information, before submitting the Section 45.1(d)(2) provides an
concerning the renewal of its collection to OMB for approval. To exemption for security-based swaps if
information collection titled, ‘‘Margin comply with this requirement, the OCC the counterparty notifies the Securities
and Capital Requirements for Covered is publishing notice of the proposed and Exchange Commission of how it
Swap Entities: Exemptions.’’ collection of information set forth in generally meets its financial obligations
DATES: Comments must be submitted on this document. associated with entering into non-
or before June 20, 2016. In connection with issuance of the cleared security-based swaps.
ADDRESSES: Because paper mail in the interim final rule entitled ‘‘Margin and Type of Review: Extension of a
Washington, DC area and at the OCC is Capital Requirements for Covered Swap currently approved collection.
subject to delay, commenters are Entities,’’ 1 OMB provided a six-month Affected Public: Individuals;
encouraged to submit comments by approval for this information collection. Businesses or other for-profit.
email, if possible. Comments may be The OCC is proposing to extend OMB Estimated Number of Respondents:
sent to: Legislative and Regulatory approval of the collection for the 20.
Activities Division, Office of the standard three years. Estimated Total Annual Burden:
Comptroller of the Currency, Attention: Title: Margin and Capital 20,000.
1557–0335, 400 7th Street SW., Suite Requirements for Covered Swap Comments submitted in response to
3E–218, Mail Stop 9W–11, Washington, Entities: Exemptions. this notice will be summarized,
DC 20219. In addition, comments may OMB Control No.: 1557–0335. included in the request for OMB
be sent by fax to (571) 465–4326 or by Description: The OCC issued an approval, and will become a matter of
electronic mail to prainfo@occ.treas.gov. interim final rule required by the public record. Comments are invited on:
You may personally inspect and Terrorism Risk Insurance Program (a) Whether the collection of
photocopy comments at the OCC, 400 Reauthorization Act of 2015 (TRIPRA).2 information is necessary for the proper
7th Street SW., Washington, DC 20219. Title III of TRIPRA, the ‘‘Business Risk performance of the functions of the
For security reasons, the OCC requires Mitigation and Price Stabilization Act of OCC, including whether the information
that visitors make an appointment to 2015,’’ amends the statutory provisions has practical utility;
inspect comments. You may do so by added by the Dodd-Frank Act relating to
calling (202) 649–6700 or, for persons (b) The accuracy of the OCC’s
margin requirements for non-cleared
who are deaf or hard of hearing, TTY, estimate of the information collection
swaps and non-cleared security-based
(202) 649–5597. Upon arrival, visitors burden;
swaps. Section 302 of TRIPRA amends
will be required to present valid sections 731 and 764 of the Dodd-Frank 3 The Agencies are the Office of the Comptroller
government-issued photo identification Act to provide that the initial and of the Currency, the Board of Governors of the
mstockstill on DSK4VPTVN1PROD with NOTICES

and to submit to security screening in variation margin requirements do not Federal Reserve System, the Federal Deposit
order to inspect and photocopy apply to certain transactions with Insurance Corporation, the Farm Credit
comments. specified counterparties that qualify for Administration, and the Federal Housing Finance
All comments received, including Agency.
an exemption or exception from 4 The interim final rule is a companion rule to a
attachments and other supporting clearing. Non-cleared swaps and non- final rule adopted to implement section 731 and
materials, are part of the public record 764 of the Dodd-Frank Act.
and subject to public disclosure. Do not 1 80 FR 74915 (November 30, 2015). 5 The final rule was issued on November 30, 2015

include any information in your 2 Public Law 114–1, 129 Stat. 3 (2015). (80 FR 74840).

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Federal Register / Vol. 81, No. 75 / Tuesday, April 19, 2016 / Notices 23083

(c) Ways to enhance the quality, basis, with the objective of denying their Veracruz, Mexico; citizen Mexico;
utility, and clarity of the information to businesses and agents access to the U.S. Gender Female; R.F.C.
be collected; financial system and the benefits of GOVD891125EK6 (Mexico); National ID
(d) Ways to minimize the burden of trade and transactions involving U.S. No. 96088982044 (Mexico); alt. National
the collection on respondents, including companies and individuals. ID No. 96098907692 (Mexico); C.U.R.P.
through the use of automated collection The Kingpin Act blocks all property GOVD891125MVZMLN04 (Mexico)
techniques or other forms of information and interests in property, subject to U.S. (individual) [SDNTK] (Linked To:
technology; and jurisdiction, owned or controlled by LAREDO DRUG TRAFFICKING
(e) Estimates of capital or start-up significant foreign narcotics traffickers ORGANIZATION). Designated for
costs and costs of operation, as identified by the President. In materially assisting in, or providing
maintenance, and purchase of services addition, the Secretary of the Treasury, financial or technological support for or
to provide information. in consultation with the Attorney to, or providing services in support of,
Dated: April 13, 2016. General, the Director of the Central the international narcotics trafficking
Mary Hoyle Gottlieb,
Intelligence Agency, the Director of the activities of the LAREDO DTO and/or
Federal Bureau of Investigation, the Ismael LAREDO DONJUAN, and/or is
Regulatory Specialist, Legislative and
Regulatory Activities Division.
Administrator of the Drug Enforcement directed by, or acting for or on behalf of,
Administration, the Secretary of the LAREDO DTO and/or Ismael
[FR Doc. 2016–08936 Filed 4–18–16; 8:45 am]
Defense, the Secretary of State, and the LAREDO DONJUAN, and therefore
BILLING CODE 4810–33–P
Secretary of Homeland Security, may meets the statutory criteria for
designate and block the property and designation pursuant to section
DEPARTMENT OF THE TREASURY interests in property, subject to U.S. 805(b)(2) and/or (3) of the Kingpin Act,
jurisdiction, of persons who are found 21 U.S.C. 1904(b)(2) and/or (3).
Office of Foreign Assets Control to be: (1) Materially assisting in, or 3. LAREDO DON JUAN, Job (a.k.a.
providing financial or technological LAREDO DONJUAN, Job; a.k.a.
Additional Designations, Foreign support for or to, or providing goods or LAREDO, Antonio; a.k.a. RODRIGUEZ,
Narcotics Kingpin Designation Act services in support of, the international Antonio; a.k.a. ‘‘GORDO’’), Cuernavaca,
narcotics trafficking activities of a Morelos, Mexico; DOB 17 Mar 1968;
AGENCY: Office of Foreign Assets person designated pursuant to the POB San Miguel Totolapan, Guerrero,
Control, Treasury. Kingpin Act; (2) owned, controlled, or Mexico; citizen Mexico; Gender Male;
ACTION: Notice. directed by, or acting for or on behalf of, R.F.C. LADJ6803175F6 (Mexico); alt.
SUMMARY: The U.S. Department of the a person designated pursuant to the R.F.C. LADJ6803178D1 (Mexico);
Treasury’s Office of Foreign Assets Kingpin Act; or (3) playing a significant C.U.R.P. LADJ680317HGRRNB04
Control (OFAC) is publishing the names role in international narcotics (Mexico) (individual) [SDNTK] (Linked
of eight individuals and one entity trafficking. To: LAREDO DRUG TRAFFICKING
On April 14, 2016, the Acting Director ORGANIZATION). Designated for
whose property and interests in
of OFAC designated the following eight materially assisting in, or providing
property have been blocked pursuant to
individuals and one entity whose financial or technological support for or
the Foreign Narcotics Kingpin
property and interests in property are to, or providing services in support of,
Designation Act (Kingpin Act), 21
blocked pursuant to section 805(b) of the international narcotics trafficking
U.S.C. §§ 1901–1908, 8 U.S.C. § 1182.
the Kingpin Act. activities of the LAREDO DTO, and/or is
DATES: The designation by the Director
Individuals directed by, or acting for or on behalf of,
of OFAC of the eight individuals and the LAREDO DTO, and therefore meets
one entity identified in this notice 1. BARRIOS HERNANDEZ, Mercedes the statutory criteria for designation
pursuant to section 805(b) of the (a.k.a. ‘‘LA MECHE’’), Xochitepec, pursuant to section 805(b)(2) and/or (3)
Kingpin Act is effective on April 14, Morelos, Mexico; DOB 05 May 1971; of the Kingpin Act, 21 U.S.C. 1904(b)(2)
2016. POB Acapulco de Juarez, Guerrero, and/or (3).
FOR FURTHER INFORMATION CONTACT: Mexico; citizen Mexico; Gender Female; 4. LAREDO ESTRADA, Andres,
Assistant Director, Sanctions R.F.C. BAHM710505Q91 (Mexico); Mexico; DOB 01 Dec 1973; POB
Compliance & Evaluation, Office of C.U.R.P. BAHM710505MGRRRR07 Tlapehuala, Guerrero, Mexico; citizen
Foreign Assets Control, U.S. Department (Mexico) (individual) [SDNTK] (Linked Mexico; Gender Male; R.F.C.
of the Treasury, Washington, DC 20220, To: LAREDO DRUG TRAFFICKING LAEA731201TB0 (Mexico); National ID
Tel: (202) 622–2490. ORGANIZATION). Designated for No. 15097300311 (Mexico); C.U.R.P.
SUPPLEMENTARY INFORMATION: materially assisting in, or providing LAEA731201HGRRSN07 (Mexico)
financial or technological support for or (individual) [SDNTK] (Linked To:
Electronic and Facsimile Availability to, or providing services in support of, LAREDO DRUG TRAFFICKING
This document and additional the international narcotics trafficking ORGANIZATION). Designated for
information concerning OFAC are activities of the LAREDO DTO and/or materially assisting in, or providing
available on OFAC’s Web site at Job LAREDO DON JUAN, and/or is financial or technological support for or
http://www.treasury.gov/ofac or via directed by, or acting for or on behalf of, to, or providing services in support of,
facsimile through a 24-hour fax-on- the LAREDO DTO and/or Job LAREDO the international narcotics trafficking
demand service at (202) 622–0077. DON JUAN, and therefore meets the activities of the LAREDO DTO and/or
mstockstill on DSK4VPTVN1PROD with NOTICES

statutory criteria for designation Job LAREDO DON JUAN, and/or is
Background pursuant to section 805(b)(2) and/or (3) directed by, or acting for or on behalf of,
The Kingpin Act became law on of the Kingpin Act, 21 U.S.C. 1904(b)(2) the LAREDO DTO and/or Job LAREDO
December 3, 1999. The Kingpin Act and/or (3). DON JUAN, and therefore meets the
provides a statutory framework for the 2. GOMEZ VELAZQUEZ, Daniela statutory criteria for designation
imposition of sanctions against (a.k.a. GOMEZ VELASQUEZ, Daniela), pursuant to section 805(b)(2) and/or (3)
significant foreign narcotics traffickers Cuernavaca, Morelos, Mexico; DOB 25 of the Kingpin Act, 21 U.S.C. 1904(b)(2)
and their organizations on a worldwide Nov 1989; POB Poza Rica de Hidalgo, and/or (3).

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Document Created: 2016-04-19 00:15:58
Document Modified: 2016-04-19 00:15:58

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comment.
Dates		Comments must be submitted on or before June 20, 2016.
Contact		Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, for persons who are deaf or hard of hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219.
FR Citation		81 FR 23082

81 FR 23082 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; Margin and Capital Requirements for Covered Swap Entities: Exemptions

DEPARTMENT OF THE TREASURYOffice of the Comptroller of the Currency

Federal Register Volume 81, Issue 75 (April 19, 2016)

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency