40512 Federal Register / Vol. 87, No. 129 / Thursday, July 7, 2022 / Notices 

7The Commission did not include any burden 

estimates in the Final Rule related to the 

modification or maintenance of systems in order to 

be in compliance with the amendments to Sec. 43.4. 

To avoid double-counting, the Commission 

included the costs associated with updates to Sec. 

43.4 in the estimates for Sec. 43.3, as they would 

be captured in the costs of updating systems based 

on the list of swap data elements in part 43. 

8Based on the Commission’s eight years of 

experience in administering the existing-real time 

reporting regulation, the Commission believes that 

the costs to reporting entities to implement the 

Final Rule will be on the lower end of the range, 

closer to $24,000 than to $74,000. 

9As described in the Final Rule, the estimated 

cost ranges are based on a number of assumptions 

that cover the set of tasks required for the SDR to 

design, test, and implement an updated data system 

based on the new swap data elements contained in 

part 43. 

10 In the Proposal, the Commission omitted the 

aggregate reporting burden for proposed Sec. 43.3 

and Sec. 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 Sec. 43.3 and Sec. 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 Sec. 

43.3 and Sec. 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.) 

the changes to Sec. 43.3 7 in the Final 

Rule, as explained below. 

In the Final Rule, the Commission 

estimated the cost for a reporting entity, 

including designated contracts markets 

(‘‘DCMs’’), derivatives clearing 

organizations (‘‘DCOs’’), major swap 

participants (‘‘MSPs’’), swap dealers 

(‘‘SDs’’), non-SD/MSP/DCO 

counterparties, and swap execution 

facilities (‘‘SEFs’’), to modify their 

systems and maintain those 

modifications going forward to adopt 

the Final Rule could range from $24,000 

to $74,000 per entity. There are an 

estimated 1,732 reporting entities, for a 

total estimated cost of $84,868,000.8 As 

described in the Final Rule, the 

estimated cost range is based on a 

number of assumptions that cover tasks 

required to design, test, and implement 

an updated data system based on the 

new swap data elements contained in 

part 43. 

In the Final Rule, the Commission 

further estimated that the cost for an 

SDR to modify their systems, including 

their data reporting, ingestion, and 

validation systems, and maintain those 

modifications going forward may range 

from $144,000 to $510,000 per SDR. 

There are three SDRs that would be 

required to modify their existing 

systems, for an estimated total cost of 

$981,000.9

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 Sec. 

43.4, as adjusted for the reduction in 

reporting by SDRs of mirror swaps, is as 

follows: 

Estimated Number of Respondents: 4. 

Estimated Number of Reports per 

Respondent: 1,499,900. 

Average Number of Hours per Report: 

0.0067. 

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 Sec. 

43.4. To avoid double-counting, the 

Commission included the costs 

associated with updates to Sec. 43.4 in 

the estimates for Sec. 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: $85,849,000.10

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

Dated: July 1, 2022. 

Robert Sidman, 

Deputy Secretary of the Commission. 

[FR Doc. 2022–14506 Filed 7–6–22; 8:45 am] 

BILLING CODE 6351–01–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

[Docket No. CFPB–2022–0043] 

Agency Information Collection 

Activities: Comment Request 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for comment. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995 

(PRA), the Consumer Financial 

Protection Bureau (CFPB or Bureau) 

requests the extension of the Office of 

Management and Budget’s (OMB’s) 

approval of the existing information 

collection titled ‘‘Consumer Leasing Act 

(Regulation M),’’ approved under OMB 

Control Number 3170–0006. 

DATES: Written comments are 

encouraged and must be received on or 

before August 8, 2022 to be assured of 

consideration. 

ADDRESSES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. In general, all 

comments received will become public 

records, including any personal 

information provided. Sensitive 

personal information, such as account 

numbers or Social Security numbers, 

should not be included. 

FOR FURTHER INFORMATION CONTACT: 

Documentation prepared in support of 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 129 / Thursday, July 7, 2022 / Notices 40513 

this information collection request is 

available at www.regulations.gov. 

Requests for additional information 

should be directed to Anthony May, 

Paperwork Reduction Act Officer, at 

(202) 841–0544, or email: CFPB_PRA@

cfpb.gov. If you require this document 

in an alternative electronic format, 

please contact CFPB_Accessibility@

cfpb.gov. Please do not submit 

comments to these email boxes. 

SUPPLEMENTARY INFORMATION:

Title of Collection: Consumer Leasing 

Act (Regulation M). 

OMB Control Number: 3170–0006. 

Type of review: Extension of a 

currently approved information 

collection. 

Affected Public: Businesses and other 

for-profit institutions. 

Estimated Number of Respondents: 

13,718. 

Estimated Total Annual Burden 

Hours: 2,126. 

Abstract: Consumers rely on the 

disclosures required by the Consumer 

Leasing Act, 15 U.S.C. 1667 et seq. 

(CLA) and Regulation M, 12 CFR 1013, 

for information to comparison shop 

among leases as well as to ascertain the 

true costs and terms of lease offers. 

Federal/State enforcement and private 

litigants use the records to ascertain 

whether accurate and complete 

disclosures of the cost of leases have 

been provided to consumers prior to 

consummation of the lease. This 

information provides the primary 

evidence of law violations in CLA 

enforcement actions brought by Federal 

agencies. The agency’s ability to enforce 

the CLA would be significantly 

impaired without Regulation M’s 

recordkeeping requirements. 

Request for Comments: The Bureau 

published a 60-day Federal Register 

notice on 4/7/2022 (87 FR 20394) under 

Docket Number: CFPB–2022–0021. The 

Bureau is soliciting comments on: (a) 

Whether the collection of information is 

necessary for the proper performance of 

the functions of the Bureau, including 

whether the information will have 

practical utility; (b) The accuracy of the 

Bureau’s estimate of the burden of the 

collection of information, including the 

validity of the methods and the 

assumptions used; (c) Ways to enhance 

the quality, utility, and clarity of the 

information to be collected; and (d) 

Ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology. 

Comments submitted in response to this 

notice will be submitted to OMB as part 

of its review of this request. All 

comments will become a matter of 

public record. 

Anthony May, 

Paperwork Reduction Act Officer, Consumer 

Financial Protection Bureau. 

[FR Doc. 2022–14471 Filed 7–6–22; 8:45 am] 

BILLING CODE 4810–AM–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

[Docket No. CFPB–2022–0044] 

Agency Information Collection 

Activities: Comment Request 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for comment. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995 

(PRA), the Consumer Financial 

Protection Bureau (CFPB or Bureau) 

requests the extension of the Office of 

Management and Budget’s (OMB’s) 

approval of the existing information 

collection titled ‘‘Mortgage Acts and 

Practices—Advertising (Regulation N)’’ 

approved under OMB Control Number 

3170–0009. 

DATES: Written comments are 

encouraged and must be received on or 

before August 8, 2022 to be assured of 

consideration. 

ADDRESSES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. In general, all 

comments received will become public 

records, including any personal 

information provided. Sensitive 

personal information, such as account 

numbers or Social Security numbers, 

should not be included. 

FOR FURTHER INFORMATION CONTACT: 

Documentation prepared in support of 

this information collection request is 

available at www.regulations.gov. 

Requests for additional information 

should be directed to Anthony May, 

Paperwork Reduction Act Officer, at 

(202) 841–0544, or email: CFPB_PRA@

cfpb.gov. If you require this document 

in an alternative electronic format, 

please contact CFPB_Accessibility@

cfpb.gov. Please do not submit 

comments to these email boxes. 

SUPPLEMENTARY INFORMATION:

Title of Collection: Mortgage Acts and 

Practices—Advertising (Regulation N). 

OMB Control Number: 3170–0009. 

Type of review: Extension of a 

currently approved information 

collection. 

Affected Public: Businesses and other 

for-profit institutions. 

Estimated Number of Respondents: 

506. 

Estimated Total Annual Burden 

Hours: 253. 

Abstract: Regulation N (12 CFR part 

1014) prohibits misrepresentations 

about the terms of mortgage credit 

products in commercial 

communications and requires that 

covered persons keep certain related 

records for a period of twenty-four (24) 

months from last dissemination. The 

information that Regulation N requires 

covered persons to retain is necessary to 

ensure efficient and effective law 

enforcement to address deceptive 

practices that occur in the mortgage 

advertising area. 

Request for Comments: The Bureau 

published a 60-day Federal Register 

notice on 2/25/2022 (87 FR 10776) 

under Docket Number: CFPB–2022– 

0012. The Bureau is soliciting 

comments on: (a) Whether the collection 

of information is necessary for the 

proper performance of the functions of 

the Bureau, including whether the 

information will have practical utility; 

(b) The accuracy of the Bureau’s 

estimate of the burden of the collection 

of information, including the validity of 

the methods and the assumptions used; 

(c) Ways to enhance the quality, utility, 

and clarity of the information to be 

collected; and (d) Ways to minimize the 

burden of the collection of information 

on respondents, including through the 

use of automated collection techniques 

or other forms of information 

technology. Comments submitted in 

response to this notice will be submitted 

to OMB as part of its review of this 

request. All comments will become a 

matter of public record. 

Anthony May, 

Paperwork Reduction Act Officer, Consumer 

Financial Protection Bureau. 

[FR Doc. 2022–14472 Filed 7–6–22; 8:45 am] 

BILLING CODE 4810–AM–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

[Docket No. CFPB–2022–0045] 

Agency Information Collection 

Activities: Comment Request 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Notice and request for comment. 


khammond on DSKJM1Z7X2PROD with NOTICES