Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices 13343 

based on the new swap data elements contained in 

part 43. 

9 In the Proposal, the Commission omitted the 

aggregate reporting burden for proposed § 43.3 and 

§ 43.4 in the preamble and instead provided PRA 

estimates for all of part 43 (excluding estimates 

related to the Commission’s block trade regulation, 

which is not affected by the final rulemaking). In 

the Final Rule, the Commission included PRA 

estimates for final § 43.3 and § 43.4 in the preamble 

because these are the only sections of part 43 

affected by the final rulemaking. Attachment A to 

the supporting statement for the Proposal only 

showed the changes in the burden estimates for 

§ 43.3 and § 43.4 for the Proposal. For the Final 

Rule, the Commission revised Attachment A to the 

supporting statement that was filed with OMB to 

include aggregate burden estimates for all 

requirements in the collection (excluding estimates 

related to the Commission’s block trade regulation, 

as the burden estimates for the block trade 

regulation are not affected by the final rulemaking). 

In addition, in the Final Rule, the Commission 

revised the information collection to include 

burden estimates for one-time costs that SDRs, 

SEFs, DCMs, and reporting counterparties could 

incur to modify their systems to adopt the changes 

to part 43, as well as burden estimates for these 

entities to perform any annual maintenance or 

adjustments to reporting systems related to the 

changes. The estimates in the supporting statements 

for the Final Rule are consistent with the estimates 

shown in the Burden Statement above (e.g., the 

supporting statement for the Final Rule reflects that 

there are 1,732 respondents and that the total 

annual number of burden hours across all 

respondents is 771,831.) 1 17 CFR 145.9. 

2. Amendments to Regulation 43.4 

In the Final Rule, the Commission 

estimated that the amendments would 

reduce the number of mirror swaps 

SDRs would need to publicly 

disseminate by 100 reports per each 

SDR, for an aggregate burden hour 

reduction of 20.10 hours. In addition, 

the Commission estimated that the 

aggregate reporting burden total for 

§ 43.4, as adjusted for the reduction in 

reporting by SDRs of mirror swaps, is as 

follows: 

Estimated Number of Respondents: 3. 

Estimated Number of Reports per 

Respondent: 1,499,900. 

Average Number of Hours per Report: 

0.009. 

Estimated Gross Annual Reporting 

Burden: 40,497. 

The Commission did not include any 

burden estimates in the Proposal related 

to the modification or maintenance of 

systems in order to be in compliance 

with the proposed amendments to 

§ 43.4. To avoid double-counting, the 

Commission included the costs 

associated with updates to § 43.4 in the 

estimates for § 43.3 discussed above, as 

they would be captured in the costs of 

updating systems based on the list of 

swap data elements in part 43. 

Burden Statement: Provisions of 

CFTC Regulations 43.3, 43.4, and 43.6 

result in information collection 

requirements within the meaning of the 

PRA. With respect to the ongoing 

reporting and recordkeeping burdens 

associated with swaps, the CFTC is 

revising its estimate of the burden of 

this collection (excluding estimates 

related to the Commission’s block trade 

regulation, which is not affected by the 

final rulemaking). The Commission 

believes that SDs, MSPs, SEFs, DCMs, 

DCOs, and non-SD/MSP/DCO 

counterparties incur an annual timeburden of 771,831 hours. This timeburden represents a proportion of the 

burden respondents incur to operate 

and maintain their swap data 

recordkeeping and reporting systems. 

The respondent burden for this 

collection (excluding estimates related 

to the Commission’s block trade 

regulation) is estimated to be as follows: 

Respondents/Affected Entities: SDs, 

MSPs, and other counterparties to a 

swap transaction (i.e., non-SD/MSP/ 

DCO counterparties). 

Estimated Number of Respondents: 

1,732. 

Estimated Average Burden Hours per 

Respondent: 445. 

Estimated Total Annual Burden 

Hours: 771,831 hours. 

Frequency of Collection: Ongoing. 

Capital or Operating and 

Maintenance Costs: $85,849,000.9

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

Dated: March 2, 2021. 

Robert Sidman, 

Deputy Secretary of the Commission. 

[FR Doc. 2021–04667 Filed 3–5–21; 8:45 am] 

BILLING CODE 6351–01–P 

COMMODITY FUTURES TRADING 

COMMISSION 

Agency Information Collection 

Activities Under OMB Review 

AGENCY: Commodity Futures Trading 

Commission. 

ACTION: Notice. 

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 Information and Regulatory 

Affairs (‘‘OIRA’’), of 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 April 7, 2021. 

ADDRESSES: Written comments and 

recommendations for the information 

collection should be submitted within 

30 days of this notice’s publication to 

OIRA, at https://www.reginfo.gov/ 

public/do/PRAMain. Please find this 

particular information collection by 

selecting ‘‘Currently under 30-day 

Review—Open for Public Comments’’ or 

by using the website’s search function. 

Comments can be entered electronically 

by clicking on the ‘‘comment’’ button 

next to the information collection on the 

‘‘OIRA Information Collections Under 

Review’’ page, or the ‘‘View ICR— 

Agency Submission’’ page. A copy of 

the supporting statement for the 

collection of information discussed 

herein may be obtained by visiting 

https://www.reginfo.gov/public/do/ 

PRAMain. 

In addition to the submission of 

comments to https://Reginfo.gov as 

indicated above, a copy of all comments 

submitted to OIRA may also be 

submitted to the Commodity Futures 

Trading Commission (the 

‘‘Commission’’ or ‘‘CFTC’’) by clicking 

on the ‘‘Submit Comment’’ box next to 

the descriptive entry for OMB Control 

No. 3038–0096, at https://

comments.cftc.gov/FederalRegister/ 

PublicInfo.aspx. 

Or by either of the following methods: 

• 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. 

All comments must be submitted in 

English, or if not, accompanied by an 

English translation. Comments 

submitted to the Commission should 

include 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 § 145.9 

of the Commission’s regulations.1 The 

Commission reserves the right, but shall 

have no obligation, to review, prescreen, filter, redact, refuse or remove 

any or all of your submission from 

https://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 

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. 


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13344 Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices 

2Public Law 111–203, 124 Stat. 1376 (2010). 

3The Commission proposed the amendments to 

Part 45 in February 2020. Swap Data Recordkeeping 

and Reporting Requirements, 75 FR 21578 (Apr. 17, 

2020) (the ‘‘Proposal’’). The final rule was 

published in the Federal Register, 85 FR 75503 

(Nov. 25, 2020). 

4The PRA section of the Proposal included onetime and ongoing burden hour estimates for entities 

to modify their systems. The associated cost 

estimates referenced above were included in the 

related Supporting Statement filed with OMB for 

the Proposal. 

5Hourly wage rates for this aspect came from the 

Software Developers and Programmers category of 

the May 2019 National Occupational Employment 

and Wage Estimates Report produced by the U.S. 

Bureau of Labor Statistics, available at https://

www.bls.gov/oes/current/oes_nat.htm. The 25th 

percentile was used for the low range and the 90th 

percentile was used for the upper range ($36.89 and 

$78.06, respectively). Each number was multiplied 

by an adjustment factor of 1.3 for overhead and 

benefits (rounded to the nearest whole dollar) 

which is in line with adjustment factors the CFTC 

has used for similar purposes in other final rules 

adopted under the Dodd-Frank Act. See, e.g., 77 FR 

at 2173 (using an adjustment factor of 1.3 for 

overhead and other benefits). These estimates are 

intended to capture and reflect U.S. developer 

hourly rates market participants are likely to pay 

when complying with the changes. Individual 

entities may, based on their circumstances, incur 

costs substantially greater or less than the estimated 

averages. 

6The lower estimate of $144,000 represents 3,000 

working hours at the $48 rate. The higher estimate 

of $1,010,000 represents 10,000 working hours at 

the $101 rate. The PRA section of the final rule 

incorrectly stated that the $1,010,000 estimate at the 

higher end of the range was based on 5,000 working 

hours. However, in response to a comment 

indicating that the commenter expected its costs to 

be 8,000 to 10,000 developer hours, the 

Commission expanded the range of potential costs 

per SDR to between $144,000 and $1,010,000 for 

PRA purposes. 

7The lower estimate of $24,000 represents 500 

working hours at the $48 rate. The higher estimate 

of $73,225 represents 725 working hours at the $101 

rate. 

FOR FURTHER INFORMATION CONTACT: 

Meghan Tente, Division of Data, 

Commodity Futures Trading 

Commission, (202) 418–5785, email: 

mtente@cftc.gov, and refer to OMB 

Control No. 3038–0096. 

SUPPLEMENTARY INFORMATION: 

Title: Swap Data Recordkeeping and 

Reporting Requirements (OMB Control 

No. 3038–0096). This is a request for 

comment on revision of a currently 

approved information collection. 

Abstract: The collection of 

information is needed to ensure that the 

CFTC and other regulators have access 

to swap data as required by the 

Commodity Exchange Act, as amended 

by the Dodd-Frank Wall Street Reform 

and Consumer Protection Act (‘‘DoddFrank Act’’).2 The Dodd-Frank Act 

directed the CFTC to adopt rules 

providing for the reporting of data 

relating to swaps. 

On September 17, 2020, the 

Commission adopted a rulemaking 

amending its part 45 regulations.3 In the 

release accompanying the final rule, the 

Commission included some estimated 

costs and burdens that were not 

included in the Proposal and made 

corrections to some of its previous 

estimates. The Commission explains 

these cost and burden estimates below. 

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. On December 2, 2020, 

the Commission published in the 

Federal Register notice of the proposed 

revision of this information collection 

and provided 60 days for public 

comment on the proposed revision, 85 

FR 77435 (‘‘60-Day Notice’’). The 

Commission did not receive any 

comments on the 60-Day Notice. 

1. Amendments to Regulation 45.3 

Amended § 45.3 creates costs for swap 

data repositories (‘‘SDRs’’), swap 

execution facilities (‘‘SEFs’’), designated 

contract markets (‘‘DCMs’’), and 

reporting counterparties to update 

systems for reporting required swap 

creation data reports. For the Proposal, 

the Commission estimated SDRs, SEFs, 

DCMs, and reporting counterparties 

would incur a one-time initial burden of 

10 hours per entity to modify their 

systems to adopt the changes, for a total 

estimated hours burden of 17,320 hours. 

The cost per entity was estimated to be 

$722.30 for a total cost across entities of 

$1,251,024. The Commission 

additionally estimated 5 hours per 

entity annually to perform any needed 

maintenance or adjustments to reporting 

systems, at a cost of $361.15 per entity 

and $625,512 across entities.4 The 

Commission re-evaluated the analysis in 

the final rule and instead used a wage 

estimate of between $48 and $101 5 per 

hour and revised its estimate of the onetime initial cost per SDR to be in a range 

of $144,000 to $1,010,000 for PRA 

purposes, based on 3,000 to 10,000 

hours of work per SDR.6 Using these 

revised estimates, the Commission 

estimated an average estimated cost of 

$577,000 per SDR to update their 

systems, or estimated capital/start-up 

costs of $1,731,000 across all 3 SDRs. 

With regard to reporting entities, the 

PRA section of the Proposal 

inadvertently did not include any 

estimates of initial costs to update 

systems for SEFs, DCMs, and reporting 

counterparties. In the final rule, the 

Commission estimated that SEFs, DCMs, 

and reporting counterparties will incur 

a one-time initial cost per reporting 

entity in a range of $24,000 to $73,225 

per reporting entity, with each reporting 

entity spending approximately 500 to 

725 hours on the updates.7 Rather than 

base the Commission’s PRA estimates of 

the total upfront implementation cost 

for reporting entities on arithmetic 

averages, the Commission recognized 

that reporting entities are already 

subject to existing swaps data reporting 

and recordkeeping obligations pursuant 

to Part 45, so it is likely that reporting 

entities will only need to reprogram 

their existing reporting systems, instead 

of building new reporting systems, to 

comply with the final rule. Furthermore, 

through the Commission’s eight years of 

experience in administering Part 45, the 

Commission believes that the 1,732 

reporting entities are a relatively 

consistent group, such that most entities 

that are currently reporting entities 

under Part 45 will continue to be 

reporting entities under the final rule, 

and few entities that are not currently 

reporting entities under Part 45 will 

become reporting entities under the 

final rule. Because most reporting 

entities will only need to reprogram 

their existing reporting systems, the 

Commission believes that the upfront 

cost to reporting entities to implement 

the final rule will be on the lower end 

of the range, closer to $24,000 than to 

$73,225. Therefore, the Commission 

based its PRA estimates on a more 

realistic split of 90%/10% between 

existing reporting entities and new 

reporting entities, which resulted in a 

weighted average cost of $28,923 per 

reporting entity ($24,000 * 0.9 + $73,225 

* 0.1), or a total upfront implementation 

cost of $50,094,636 for the 1,732 

reporting entities. 

Together, the Commission estimated 

the total aggregate upfront 

implementation cost in the final rule to 

be $51,825,636 ($50,094,636 for 

reporting entities and $1,731,000 for 

SDRs). The Commission does not expect 

any ongoing costs for SDRs or reporting 

entities after the initial builds. 

2. Amendments to Regulation 45.4 

The Commission amended § 45.4, 

which requires reporting counterparties 

to report data to SDRs when swap terms 

change and daily swap valuation data. 

The PRA section of the Proposal 

estimated that proposed § 45.4 would 

apply to 1,705 respondents, with 97,341 

reports per respondent, .004 average 

hours per report, and a gross annual 

reporting burden of 664,479 hours. In 

the final rule, the Commission 

expanded the daily valuation data 

reporting requirement for SD/MSP 

reporting counterparties to report 

margin and collateral data in addition to 

valuation data. This is a change from the 


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Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices 13345 

Proposal, in which the Commission 

proposed requiring derivatives clearing 

organization (‘‘DCO’’) counterparties to 

report the information as well. The 

frequency of the report will not change 

for SD/MSP reporting counterparties, 

but the Commission estimated SD/MSP/ 

DCO reporting counterparties would 

require more time to prepare each 

report. However, since all of this 

information is reported electronically, 

the Commission expected the increase 

per report to be small, from .003 to .004 

hours per report. Since the Commission 

is not requiring DCO reporting 

counterparties to report the information, 

the Commission revised its estimate to 

.0035 hours per report. As a result, in 

the final rule the aggregate burden 

under § 45.4 was estimated to apply to 

1,705 respondents, with 97,341 reports 

per respondent, .0035 average hours per 

report, and a gross annual reporting 

burden of 581,419 hours. 

Amended § 45.4 creates costs for 

SDRs and reporting counterparties to 

update systems for reporting required 

swap continuation data. For the 

Proposal, the Commission estimated 

SDRs and reporting counterparties 

would incur a one-time initial burden of 

10 hours per entity to modify their 

systems to adopt the changes to § 45.4, 

for a total estimated hours burden of 

17,050 hours. The cost per entity was 

estimated to be $722.30 for a total cost 

across entities of $1,231,522. The 

Commission additionally estimated 5 

hours per entity annually to perform 

any needed maintenance or adjustments 

to reporting systems, at a cost of $361.15 

per entity and $615,761 across entities. 

However, the Commission re-evaluated 

the analysis for the final rule and 

realized that since the costs relate to 

reporting certain swap data elements, 

they are covered in the start-up and 

initial costs for § 45.3 described above. 

To avoid double-counting, the 

Commission removed the estimates for 

§ 45.4. 

3. Amendments to Regulation 45.5 

Amended § 45.5 creates costs for 

entities that were previously required to 

generate Unique Swap Identifiers 

(‘‘USIs’’) to update their systems to 

generate Uniform Transaction 

Identifiers (‘‘UTIs’’). The PRA section of 

the Proposal estimated that SDRs and 

reporting counterparties required to 

generate UTIs would incur a one-time 

initial burden of 1 hour per entity to 

modify their systems to adopt the 

changes to § 45.5, for a total estimated 

hours burden of 940 hours. The 

Commission additionally estimated 1 

hour per entity annually to perform any 

needed maintenance or adjustments to 

reporting systems. The related 

Supporting Statement filed with OMB 

for the Proposal estimated that the cost 

per entity for the one-time initial burden 

would be $72.23 for a total cost across 

entities of $67,896, and an additional 

cost of $72 per entity and $67,680 across 

entities annually to perform any needed 

maintenance or adjustments to reporting 

systems. The PRA section of the final 

rule did not make any changes to the 

Commission’s burden hour estimates for 

SDRs and reporting counterparties to 

modify their systems to adopt the 

changes to final § 45.5 in connection 

with either its estimates of either the 

one-time initial burden estimate or the 

burden of ongoing maintenance or 

adjustments to reporting systems. The 

final rule also did not change the 

estimated cost per entity of $72.23 per 

entity or a total cost across entities of 

$67,896 in connection with the 

Commission’s estimate of the one-time 

initial burden costs for SDRs and 

reporting counterparties required to 

generate UTIs. However, the PRA 

section of the final rule corrected the 

estimated cost per entity for ongoing 

maintenance or adjustment to reporting 

systems in the supporting statement for 

the Proposal from a cost of $72 per 

entity and $67,680 across entities to a 

cost of $72.23 per entity and $67,896 

across entities for final § 45.5. 

Burden Statement: Provisions of 

CFTC Regulations 45.2, 45.3, 45.4, 45.5, 

45.6, 45.10 and 45.14 result in 

information collection requirements 

within the meaning of the PRA. With 

respect to the ongoing reporting and 

recordkeeping burdens associated with 

swaps, the CFTC is revising its estimate 

of the burden of this collection. The 

Commission believes that SEFs, DCMs, 

DCOs, SDRs, swap dealers (‘‘SDs’’), 

major swap participants (‘‘MSPs’’), and 

non-SD/MSP/DCO counterparties incur 

an annual time-burden of 1,226,021 

hours. This time-burden represents a 

proportion of the burden respondents 

incur to operate and maintain their 

swap data recordkeeping and reporting 

systems. The respondent burden for this 

collection is estimated to be as follows: 

Respondents/Affected Entities: SDs, 

MSPs, SDRs, DCMs, SEFs, and other 

counterparties to a swap transaction 

(i.e., non-SD/MSP/DCO counterparties). 

Estimated Number of Respondents: 

1,732. 

Estimated Average Burden Hours per 

Respondent: 708. 

Estimated Total Annual Burden 

Hours: 1,226,021 hours. 

Frequency of Collection: Ongoing. 

Capital or Operating and 

Maintenance Costs: $51,961,428. 

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

Dated: March, 2, 2021. 

Robert Sidman, 

Deputy Secretary of the Commission. 

[FR Doc. 2021–04666 Filed 3–5–21; 8:45 am] 

BILLING CODE 6351–01–P 

CONSUMER PRODUCT SAFETY 

COMMISSION 

Sunshine Act Meeting Notice 

TIME AND DATE: Friday, March 5, 2021; 

10 a.m. 

PLACE: This meeting will be conducted 

by remote means. 

STATUS: Commission Meeting—Closed 

to the Public. 

MATTER TO BE CONSIDERED: Staff will 

brief the Commission on a compliance 

matter. 

CONTACT PERSON FOR MORE INFORMATION: 

Alberta E. Mills, Secretary, Division of 

the Secretariat, Office of the General 

Counsel, U.S. Consumer Product Safety 

Commission, 4330 East-West Highway, 

Bethesda, MD 20814, (301) 504–7479 

(Office) or 240–863–8938 (cell). 

Dated: March 3, 2021. 

Alberta E. Mills, 

Secretary. 

[FR Doc. 2021–04801 Filed 3–4–21; 11:15 am] 

BILLING CODE 6355–01–P 

DEPARTMENT OF DEFENSE 

Notice To Reopen Public Scoping for 

the Homeland Defense Radar-Hawaii 

Environmental Impact Statement; 

Correction 

AGENCY: Missile Defense Agency, 

Department of Defense (DoD). 

ACTION: Notice of intent; correction. 

SUMMARY: The Department of Defense 

published a document in the Federal 

Register of February 26, 2021, 

concerning a public scoping period for 

the Homeland Defense Radar-Hawaii 

(HDR–H) Environmental Impact 

Statement (EIS). The document 

contained an incorrect web address. 

FOR FURTHER INFORMATION CONTACT: 

Patricia Toppings, 571–372–0485. 

SUPPLEMENTARY INFORMATION: 

Correction 

In the Federal Register of Friday, 

February 26, 2021, in FR Doc. 2021– 

03449, on page 11735, in the first 

column, correct the sixth line of the 

‘‘For Further Information Contact’’ 

section to read: ‘‘https://www.mda.mil/ 

hdrh.html.’’ 

On page 11735, in the second column, 

correct the 19th line of the 


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