81 FR 42667 - Agency Information Collection Activities: Notice of Intent To Renew Collection 3038-0102, Clearing Exemption for Certain Swaps Entered Into by Cooperatives

COMMODITY FUTURES TRADING COMMISSION

Federal Register Volume 81, Issue 126 (June 30, 2016)

The Commodity Futures Trading Commission (``CFTC'' or ``Commission'') is announcing an opportunity for public comment on the proposed collection renewal of certain information by the agency. Under the Paperwork Reduction Act (``PRA''), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information and to allow 60 days for public comment. This notice solicits comments on the reporting requirements related to Commission regulation 50.51, which permits certain cooperatives to elect not to clear certain swaps that otherwise would be required to be cleared, provided that they meet certain conditions.

[Federal Register Volume 81, Number 126 (Thursday, June 30, 2016)]
[Notices]
[Pages 42667-42668]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-15473]


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COMMODITY FUTURES TRADING COMMISSION


Agency Information Collection Activities: Notice of Intent To 
Renew Collection 3038-0102, Clearing Exemption for Certain Swaps 
Entered Into by Cooperatives

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: The Commodity Futures Trading Commission (``CFTC'' or 
``Commission'') is announcing an opportunity for public comment on the 
proposed collection renewal of certain information by the agency. Under 
the Paperwork Reduction Act (``PRA''), Federal agencies are required to 
publish notice in the Federal Register concerning each proposed 
collection of information and to allow 60 days for public comment. This 
notice solicits comments on the reporting requirements related to 
Commission regulation 50.51, which permits certain cooperatives to 
elect not to clear certain swaps that otherwise would be required to be 
cleared, provided that they meet certain conditions.

DATES: Comments must be submitted on or before August 29, 2016.

ADDRESSES: You may submit comments, identified by ``Clearing Exemption 
for Certain Swaps Entered into by Cooperatives,'' or OMB Control No. 
3038-0102, by any of the following methods:
     The Commission's Web site, at http://comments.cftc.gov/. 
Follow the instructions for submitting comments through the Web site.
     Mail: Christopher Kirkpatrick, Secretary of the 
Commission, 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 through the Portal.
    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.

FOR FURTHER INFORMATION CONTACT: Melissa A. D'Arcy, Special Counsel, 
Division of Clearing and Risk, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street NW., Washington, DC 20581; 
(202) 418-5086; email: [email protected].

SUPPLEMENTARY INFORMATION: Under the PRA, Federal agencies must obtain 
approval from the Office of Management and Budget (``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 and 
includes 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 before submitting 
the collection to OMB for approval. To comply with this requirement, 
the CFTC is publishing notice of the proposed collection of information 
listed below.
    Title: Clearing Exemption for Certain Swaps Entered into by 
Cooperatives (OMB Control No. 3038-0102). This is a request for an 
extension of a currently approved information collection.
    Abstract: Section 2(h)(1)(A) of the Commodity Exchange Act requires 
certain entities to submit for clearing

[[Page 42668]]

certain swaps if they are required to be cleared by the Commission. 
Commission regulation 50.51 permits certain cooperatives to elect not 
to clear certain swaps that otherwise would be required to be cleared, 
provided that they meet certain conditions. The rule further requires 
the reporting of certain information if the exemption for cooperatives 
is elected. This collection pertains to information the Commission 
needs to monitor use of the exemption and assess market risk in 
connection therewith.
    With respect to the collection of information, the CFTC invites 
comments on:
     Whether the proposed collection of information is 
necessary for the proper performance of the functions of the 
Commission, including whether the information will have a practical 
use;
     The accuracy of the Commission's estimate of the burden of 
the proposed collection of information, including the validity of the 
methodology and assumptions used;
     Ways to enhance the quality, usefulness, and clarity of 
the information to be collected; and
     Ways to minimize the burden of collection of information 
on those who are to respond, including through the use of appropriate 
automated electronic, mechanical, or other technological collection 
techniques or other forms of information technology; e.g., permitting 
electronic submission of responses.
    You should submit only information that you wish to make available 
publicly. If you wish the Commission to consider information that you 
believe 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 established in Sec.  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 to be 
inappropriate for publication, such as obscene language. All 
submissions that have been redacted or removed that contain comments on 
the merits of the Information Collection Request 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.
    Burden Statement: The Commission is revising its estimate of the 
burden for this collection to update the estimated number of 
respondents and the estimated burden hours. The respondent burden for 
this collection is estimated to be as follows:
    Respondents/Affected Entities: Parties electing the cooperative 
exemption under Commission regulation 50.51.
    Estimated number of respondents: 25.
    Estimated average burden hours per Respondent: 1 hour.
    Estimated total annual burden hours on respondents: 25 hours.
    Frequency of collection: Annually; on occasion.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

    Authority: 44 U.S.C. 3501 et seq.

    Dated: June 24, 2016.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2016-15473 Filed 6-29-16; 8:45 am]
BILLING CODE 6351-01-P