81 FR 758 - Agency Information Collection Activities Under OMB Review

COMMODITY FUTURES TRADING COMMISSION

Federal Register Volume 81, Issue 4 (January 7, 2016)

Page Range		758-759
FR Document		2016-00058

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.

Federal Register, Volume 81 Issue 4 (Thursday, January 7, 2016)

[Federal Register Volume 81, Number 4 (Thursday, January 7, 2016)]
[Notices]
[Pages 758-759]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-00058]


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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 February 8, 2016.

ADDRESSES: Comments regarding the burden estimated or any other aspect 
of the information collection, including suggestions for reducing the 
burden, may be submitted directly to the Office of Information and 
Regulatory Affairs (``OIRA)'' in OMB, within 30 days of the notice's 
publication, by email at [email protected]. Please identify 
the comments by OMB Control No. 3038-0094. Please provide the 
Commission with a copy of all submitted comments at the address listed 
below. Please refer to OMB Reference No. 3038-0094, found on http://reginfo.gov. Comments may also be mailed 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, or through the Agency's Web site at 
http://comments.cftc.gov. Follow the instructions for submitting 
comments through the Web site.
    Comments may also be mailed to: Christopher Kirkpatrick, Secretary 
of the Commission, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street NW., Washington, DC 20581 or by Hand 
Deliver/Courier at the same address.
    A copy of the supporting statements for the collection of 
information discussed above may be obtained by visiting http://reginfo.gov. 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: Christopher Hower, Special Counsel, 
Division of Clearing and Risk, Commodity Futures Trading Commission, 
(202) 418-6703; email: [email protected], and refer to OMB Control No. 
3038-0094.

SUPPLEMENTARY INFORMATION:
    Title: Clearing Member Risk Management (OMB Control No. 3038-0094). 
This is a request for extension of a currently approved information 
collection.
    Abstract: Section 3(b) of the Commodity Exchange Act (``Act'' or 
``CEA'') provides that one of the purposes of the Act is to ensure the 
financial integrity of all transactions subject to the Act and to avoid 
systemic risk. Section 8a(5) authorizes the Commission to promulgate 
such regulations that it believes are reasonably necessary to 
effectuate any of the provisions or to accomplish any of the purposes 
of the Act. Risk management systems are critical to the avoidance of 
systemic risks.
    Section 4s(j)(2) requires each Swap Dealer (``SD'') and Major Swap 
Participant (``MSP'') to have risk management systems adequate for 
managing its business. Section 4s(j)(4) requires each SD and MSP to 
have internal systems and procedures to perform any of the functions 
set forth in Section 4s.
    Section 4d requires FCMs to register with the Commodity Futures 
Trading Commission (``Commission''). It further requires Futures 
Commission Merchants (``FCMs'') to segregate customer funds. Section 4f 
requires FCMs to maintain certain levels of capital. Section 4g 
establishes reporting and recordkeeping requirements for FCMs.
    Pursuant to these provisions, the Commission adopted Sec.  1.73 
which applies to clearing members that are FCMs and Sec.  23.609 which 
applies to clearing members that are SDs or MSPs. These provisions 
require these clearing members to have procedures to limit the 
financial risks they incur as a result of clearing trades and liquid 
resources to meet the obligations that arise. The regulations require 
clearing members to:
    (1) Establish credit and market risk-based limits based on position 
size, order size, margin requirements, or similar factors;
    (2) use automated means to screen orders for compliance with the 
risk-based limits;
    (3) monitor for adherence to the risk-based limits intra-day and 
overnight;
    (4) conduct stress tests of all positions in the proprietary 
account and all positions in any customer account that could pose 
material risk to the futures commission merchant at least once per 
week;
    (5) evaluate its ability to meet initial margin requirements at 
least once per week;
    (6) evaluate its ability to meet variation margin requirements in 
cash at least once per week;
    (7) evaluate its ability to liquidate the positions it clears in an 
orderly manner, and estimate the cost of the liquidation at least once 
per month; and
    (8) test all lines of credit at least once per quarter.
    Each of these items has been observed by Commission staff as an 
element of an existing sound risk management program at an SD, MSP, or 
FCM. The Commission regulations require each clearing member to 
establish written procedures to comply with this regulation and to keep 
records documenting its compliance. The information collection 
obligations imposed by the regulations are necessary to implement 
certain provisions of the CEA, including ensuring that registrants 
exercise effective risk management and for the efficient operation of 
trading venues among SDs, MSPs, and FCMs. 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 control number. 
The Commission did not receive any comments on the 60-day Federal 
Register notice, 80 FR 65217, dated October 26, 2015.
    Burden Statement: The respondent burden for this collection is 
estimated to average 2 hours per response for an estimated annual 
burden of 504 hours per respondent. This estimate includes the total 
time, effort, or financial resources expended by persons to generate, 
maintain, retain, disclose, or provide information to or for a federal 
agency.
    Respondents/Affected Entities: Swap Dealers, Major Swap 
Participants, and Futures Commission Merchants.
    Estimated number of respondents: 240 (106 Swap Dealers and Major 
Swap

[[Page 759]]

Participants and 134 Futures Commission Merchants).\1\
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    \1\ The 60-day notice indicated that there were 105 Swap Dealers 
and Major Swap Participants. There are 106 Swap Dealers and Major 
Swap Participants currently registered with the Commission.
---------------------------------------------------------------------------

    Estimated number of responses per respondent: 252.\2\
---------------------------------------------------------------------------

    \2\ The 60-day contained a typographical error, providing for 
253 estimated number of responses, instead of the correct figure of 
252.
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    Estimated total annual burden on respondents: 120,960 hours.
    Frequency of collection: As needed.
    There are no capital costs or operating and maintenance costs 
associated with this collection.

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

    Dated: January 4, 2016.
Robert N. Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2016-00058 Filed 1-6-16; 8:45 am]
 BILLING CODE 6351-01-P

758 Federal Register / Vol. 81, No. 4 / Thursday, January 7, 2016 / Notices

Written comments and Centre, 1155 21st Street NW., (1) Establish credit and market risk-
recommendations for the proposed Washington, DC 20581 or by Hand based limits based on position size,
information collection should be sent on Deliver/Courier at the same address. order size, margin requirements, or
or before February 8, 2016 to Nicholas A copy of the supporting statements similar factors;
A. Fraser, OMB Desk Officer, via email for the collection of information (2) use automated means to screen
to Nicholas_A._Fraser@omb.eop.gov, or discussed above may be obtained by orders for compliance with the risk-
by fax to (202) 395–5167, marked to the visiting http://reginfo.gov. All based limits;
attention of Nicholas A. Fraser. comments must be submitted in (3) monitor for adherence to the risk-
Dated: December 29, 2015. English, or if not, accompanied by an based limits intra-day and overnight;
English translation. Comments will be (4) conduct stress tests of all positions
Randy Hill,
posted as received to http:// in the proprietary account and all
Director, Collaborative Services Division,
www.cftc.gov. positions in any customer account that
Office of the Chief Information Officer.
[FR Doc. 2016–00020 Filed 1–6–16; 8:45 am] FOR FURTHER INFORMATION CONTACT: could pose material risk to the futures
BILLING CODE 3510–16–P
Christopher Hower, Special Counsel, commission merchant at least once per
Division of Clearing and Risk, week;
Commodity Futures Trading (5) evaluate its ability to meet initial
COMMODITY FUTURES TRADING Commission, (202) 418–6703; email: margin requirements at least once per
COMMISSION chower@cftc.gov, and refer to OMB week;
Control No. 3038–0094. (6) evaluate its ability to meet
Agency Information Collection SUPPLEMENTARY INFORMATION: variation margin requirements in cash at
Activities Under OMB Review Title: Clearing Member Risk least once per week;
Management (OMB Control No. 3038– (7) evaluate its ability to liquidate the
AGENCY: Commodity Futures Trading 0094). This is a request for extension of
Commission. positions it clears in an orderly manner,
a currently approved information and estimate the cost of the liquidation
ACTION: Notice. collection. at least once per month; and
Abstract: Section 3(b) of the (8) test all lines of credit at least once
SUMMARY: In compliance with the
Commodity Exchange Act (‘‘Act’’ or per quarter.
Paperwork Reduction Act of 1995
‘‘CEA’’) provides that one of the
(‘‘PRA’’), this notice announces that the Each of these items has been observed
purposes of the Act is to ensure the
Information Collection Request (‘‘ICR’’) by Commission staff as an element of an
financial integrity of all transactions
abstracted below has been forwarded to existing sound risk management
subject to the Act and to avoid systemic
the Office of Management and Budget program at an SD, MSP, or FCM. The
risk. Section 8a(5) authorizes the
(‘‘OMB’’) for review and comment. The Commission regulations require each
Commission to promulgate such
ICR describes the nature of the clearing member to establish written
regulations that it believes are
information collection and its expected procedures to comply with this
reasonably necessary to effectuate any of
costs and burden. regulation and to keep records
the provisions or to accomplish any of
DATES: Comments must be submitted on documenting its compliance. The
the purposes of the Act. Risk
or before February 8, 2016. information collection obligations
management systems are critical to the
ADDRESSES: Comments regarding the imposed by the regulations are
avoidance of systemic risks.
burden estimated or any other aspect of Section 4s(j)(2) requires each Swap necessary to implement certain
the information collection, including Dealer (‘‘SD’’) and Major Swap provisions of the CEA, including
suggestions for reducing the burden, Participant (‘‘MSP’’) to have risk ensuring that registrants exercise
may be submitted directly to the Office management systems adequate for effective risk management and for the
of Information and Regulatory Affairs managing its business. Section 4s(j)(4) efficient operation of trading venues
(‘‘OIRA)’’ in OMB, within 30 days of the requires each SD and MSP to have among SDs, MSPs, and FCMs. An
notice’s publication, by email at internal systems and procedures to agency may not conduct or sponsor, and
OIRAsubmissions@omb.eop.gov. Please perform any of the functions set forth in a person is not required to respond to,
identify the comments by OMB Control Section 4s. a collection of information unless it
No. 3038–0094. Please provide the Section 4d requires FCMs to register displays a currently valid OMB control
Commission with a copy of all with the Commodity Futures Trading number. The Commission did not
submitted comments at the address Commission (‘‘Commission’’). It further receive any comments on the 60-day
listed below. Please refer to OMB requires Futures Commission Merchants Federal Register notice, 80 FR 65217,
Reference No. 3038–0094, found on (‘‘FCMs’’) to segregate customer funds. dated October 26, 2015.
http://reginfo.gov. Comments may also Section 4f requires FCMs to maintain Burden Statement: The respondent
be mailed to the Office of Information certain levels of capital. Section 4g burden for this collection is estimated to
and Regulatory Affairs, Office of establishes reporting and recordkeeping average 2 hours per response for an
Management and Budget, Attention: requirements for FCMs. estimated annual burden of 504 hours
Desk Officer for the Commodity Futures Pursuant to these provisions, the per respondent. This estimate includes
Trading Commission, 725 17th Street Commission adopted § 1.73 which the total time, effort, or financial
NW., Washington, DC 20503, or through applies to clearing members that are resources expended by persons to
the Agency’s Web site at http:// FCMs and § 23.609 which applies to generate, maintain, retain, disclose, or
rmajette on DSK2TPTVN1PROD with NOTICES

comments.cftc.gov. Follow the clearing members that are SDs or MSPs. provide information to or for a federal
instructions for submitting comments These provisions require these clearing agency.
through the Web site. members to have procedures to limit the Respondents/Affected Entities: Swap
Comments may also be mailed to: financial risks they incur as a result of Dealers, Major Swap Participants, and
Christopher Kirkpatrick, Secretary of the clearing trades and liquid resources to Futures Commission Merchants.
Commission, Commodity Futures meet the obligations that arise. The Estimated number of respondents:
Trading Commission, Three Lafayette regulations require clearing members to: 240 (106 Swap Dealers and Major Swap

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Federal Register / Vol. 81, No. 4 / Thursday, January 7, 2016 / Notices 759

Participants and 134 Futures areas of laser communication, beam Technology Transfer and Outreach
Commission Merchants).1 aberration correction, Light Detection Office, RDRL–DPT/Thomas Mulkern,
Estimated number of responses per and Ranging (LIDAR/LADAR), beam Building 321 Room 110, Aberdeen
respondent: 252.2 steering (random access) and precision Proving Ground, MD 21005–5425.
Estimated total annual burden on pointing and tracking. The proposed FOR FURTHER INFORMATION CONTACT:
respondents: 120,960 hours. license would be relative to the Thomas Mulkern, (410) 278–0889,
Frequency of collection: As needed. following: EMail: ORTA@arl.army.mil
There are no capital costs or operating • U.S Patent Application Number
2014/0231618 entitled ‘‘Apparatus for SUPPLEMENTARY INFORMATION: None.
and maintenance costs associated with
this collection. Coherent Beam Combining in an Array Brenda S. Bowen,
of Laser Collimators’’, Inventors Army Federal Register Liaison Officer.
Authority: 44 U.S.C. 3501 et seq. Beresnev et al, Filing date September [FR Doc. 2016–00024 Filed 1–6–16; 8:45 am]
Dated: January 4, 2016. 27, 2013.
• U.S Patent Application Number
BILLING CODE 3710–08–P
Robert N. Sidman,
Deputy Secretary of the Commission. 2014/0241665 entitled ‘‘Light Beam
[FR Doc. 2016–00058 Filed 1–6–16; 8:45 am]
Collimator Particularly Suitable for a DEPARTMENT OF DEFENSE
Densely Packed Array’’, Inventor
BILLING CODE 6351–01–P
Beresnev, Filing date February 28, 2013. Office of the Secretary
• U.S Patent Application Number
2013/0342078 entitled ‘‘Apparatus and
DEPARTMENT OF DEFENSE [Transmittal No. 16–11]
Method of Making a Multi-Layered
Piezoelectric Actuator’’, Inventor 36(b)(1) Arms Sales Notification
Department of the Army Beresnev, Filing Date August 27, 2013.
Notice of Intent To Grant Exclusive DATES: The prospective exclusive AGENCY: Defense Security Cooperation
Patent License to Schafer Aerospace; license may be granted unless within Agency, Department of Defense.
Albuquerque, NM fifteen (15) days from the date of this ACTION: Notice.
published notice, the U.S. Army
AGENCY: Department of the Army, DoD. Research Laboratory receives written SUMMARY: The Department of Defense is
ACTION: Notice of Intent. objections including evidence and publishing the unclassified text of a
argument that establish that the grant of section 36(b)(1) arms sales notification.
SUMMARY: In compliance with 35 U.S.C. the license would not be consistent with This is published to fulfill the
209(e) and 37 CFR 404.7(a)(1)(i), the the requirements of 35 U.S.C. 209 and requirements of section 155 of Public
Department of the Army hereby gives 37 CFR 404.7. Competing applications Law 104–164 dated July 21, 1996.
notice of its intent to grant to Schafer completed and received by the U.S. FOR FURTHER INFORMATION CONTACT:
Aerospace; a corporation having its Army Research Laboratory within Sarah A. Ragan or Heather N. Harwell,
principle place of business at 2309 fifteen (15) days from the date of this DSCA/LMO, (703) 604–1546/(703) 607–
Renard Place SE., Suite 300, published notice will also be treated as
5339.
Albuquerque, NM 87106, exclusive objections to the grant of the
The following is a copy of a letter to
license in the field of fiber laser array contemplated exclusive license.
Objections submitted in response to the Speaker of the House of
systems with specific application in the Representatives, Transmittal 16–11 with
this notice will not be made available to
1 The 60-day notice indicated that there were 105 the public for inspection and, to the attached Policy Justification.
Swap Dealers and Major Swap Participants. There extent permitted by law, will not be Dated: January 4, 2016.
are 106 Swap Dealers and Major Swap Participants released under the Freedom of Aaron Siegel,
currently registered with the Commission.
2 The 60-day contained a typographical error,
Information Act, 5 U.S.C. 552. Alternate OSD Federal Register Liaison
providing for 253 estimated number of responses, ADDRESSES: Send written objections to Officer, Department of Defense.
instead of the correct figure of 252. U.S. Army Research Laboratory BILLING CODE 5001–06–P
rmajette on DSK2TPTVN1PROD with NOTICES

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Document Created: 2016-01-07 00:12:56
Document Modified: 2016-01-07 00:12:56

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.
Dates		Comments must be submitted on or before February 8, 2016.
Contact		Christopher Hower, Special Counsel, Division of Clearing and Risk, Commodity Futures Trading Commission, (202) 418-6703; email: [email protected], and refer to OMB Control No. 3038-0094.
FR Citation		81 FR 758