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[Federal Register Volume 89, Number 227 (Monday, November 25, 2024)]
[Notices]
[Pages 92908-92909]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-27550]

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COMMODITY FUTURES TRADING COMMISSION

Agency Information Collection Activities: Notice of Intent To 
Extend Collection 3038-0104: Clearing Exemption for Swaps Between 
Certain Affiliated Entities

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.

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SUMMARY: The Commodity Futures Trading Commission (``Commission'' or 
``CFTC'') is announcing an opportunity for public comment on the 
proposed renewal of a collection 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, including each proposed extension 
of an existing collection of information, and to allow 60 days for 
public comment. This notice solicits comments on reporting requirements 
relating to uncleared swaps between certain affiliated entities 
electing the exemption under Commission regulation 50.52 (Exemption for 
swaps between affiliates).

DATES: Comments must be submitted on or before January 24, 2025.

[[Page 92909]]

ADDRESSES: You may submit comments, identified by ``OMB Control No. 
3038-0104'' by any of the following methods:
     The Agency's website, at https://comments.cftc.gov/. 
Follow the instructions for submitting comments through the website.
     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.
    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 https://www.cftc.gov.

FOR FURTHER INFORMATION CONTACT: Daniel O'Connell, Special Counsel, 
Division of Clearing and Risk, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581; 
(202) 418-5583; email: [email protected].

SUPPLEMENTARY INFORMATION: Under the PRA, 44 U.S.C. 3501 et seq., 
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, including each proposed extension of an existing 
collection of information, before submitting the collection to OMB for 
approval. To comply with this requirement, the Commission is publishing 
notice of the proposed extension of the existing collection of 
information listed 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.\1\
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    \1\ 44 U.S.C. 3512, 5 CFR 1320.5(b)(2)(i) and 1320.8(b)(3)(vi). 
The OMB control numbers for the CFTC regulations were published on 
December 30, 1981. See 46 FR 63035 (Dec. 30, 1981).
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    Title: Clearing Exemption for Swaps Between Certain Affiliated 
Entities (OMB Control No. 3038-0104). 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 certain swaps if they are 
required to be cleared by the Commission. Commission regulation 50.52 
permits certain affiliated entities to elect not to clear inter-
affiliate 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 inter-affiliate exemption 
from clearing is elected. The Commission will use the information 
described in this collection and reported pursuant to Commission 
regulation 50.52 to monitor the use of the inter-affiliate exemption 
from the Commission's swap clearing requirement and to assess any 
potential market risks associated with such exemption.
    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 for 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.\2\
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    \2\ 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 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 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 for counterparties to swaps between certain 
affiliated entities that elect the inter-affiliate exemption under 
Commission regulation 50.52. The respondent burden for this collection 
is estimated to be as follows:
    Estimated Number of Respondents: 478.
    Estimated Average Burden Hours per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 478 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: November 20, 2024.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2024-27550 Filed 11-22-24; 8:45 am]
BILLING CODE 6351-01-P
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