Federal Register / Vol. 75, No. 208 / Thursday, October 28, 2010 / Notices 66427 

10 7 U.S.C. 1b(b)(2). 

between foreign exchange swaps and/or 

foreign exchange forwards and other 

products not defined as swaps under the 

CEA? 

(2) Are there objective differences 

between swaps and foreign exchange 

swaps and/or foreign exchange forwards 

that warrant an exemption for either or 

both of these instruments? 10

(3) Are there objective differences 

between long-dated and short-dated 

foreign exchange forwards and swaps 

such that one class may be less suited 

to regulation as ‘‘swaps’’ under the CEA 

than the other? Is the same true for 

dealer to dealer transactions versus 

transactions where one counterparty is 

a non-dealer? Similarly, does one or 

more of the above-referenced, five 

statutory factors support the application 

of certain requirements set forth in the 

CEA, but not others (e.g., centralized 

clearing, but not exchange trading), to 

foreign exchange swaps and/or foreign 

exchange forwards? 

(4) What are the primary risks in the 

foreign exchange swaps and forwards 

market, how significant are these risks, 

and how are these risks currently 

managed by market participants? Would 

centralized clearing and exchange 

trading address these risks? To what 

extent do current payment-versuspayment settlement arrangements 

address settlement risk? 

(5) To what extent is counterparty 

credit risk a significant concern in the 

foreign exchange swaps and forwards 

markets? If so, to what extent do current 

market practices (including netting and 

bilateral collateral support 

arrangements) mitigate these risks? 

What evidence, particularly during the 

period between 2007 and present, 

illustrate how current market practices 

have either addressed, or failed to 

respond, to these risks? 

(6) Are there ways to mitigate the 

risks posed by the trading of foreign 

exchange swaps or foreign exchange 

forwards without subjecting these 

instruments to regulation under the 

CEA? 

(7) Are there existing safeguards or 

systems that should be enhanced in 

order to protect against systemic or 

other risks in the foreign exchange 

swaps and forwards markets? What 

considerations are relevant to the 

application of Title VIII of the DoddFrank Act to the foreign exchange swaps 

and forwards markets, specifically to 

enhance supervision, strengthen risk 

management, and lower systemic risk? 

(8) Given that the Dodd-Frank Act 

requires all foreign exchange swaps and 

forwards be reported to a swap data 

repository, what is the current standard 

or practice in the foreign exchange 

market for reporting trades? 

(9) What would be the likely effects of 

mandatory U.S. clearing of foreign 

exchange swaps and/or forwards on 

foreign exchange market liquidity in the 

U.S. dollar? What would be the impact 

on the operations of U.S. end-users and 

U.S. dealers? 

(10) What other factors should the 

Secretary of the Treasury consider in 

determining whether to exempt foreign 

exchange swaps and/or forwards 

pursuant to section 1a(47) of the CEA? 

In addition, commenters are 

encouraged to submit supporting 

materials, including relevant 

transactional data, that would assist the 

Secretary’s consideration of the issues 

relating to an exemption for foreign 

exchange swaps or foreign exchange 

forwards, or both, under section 1a(47) 

of the CEA. 

Dated: October 19, 2010. 

Mary J. Miller, 

Assistant Secretary for Financial Markets. 

[FR Doc. 2010–27274 Filed 10–27–10; 8:45 am] 

BILLING CODE 4810–25–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 13551 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning Form 

13551, Application to Participate in the 

IRS Acceptance Agent Program. 

DATES: Written comments should be 

received on or before December 27, 2010 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields, Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

should be directed to Elaine Christophe, 

(202) 622–3179, or at Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224, 

or through the Internet, at 

Elaine.H.Christophe@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Application to Participate in the 

IRS Acceptance Agent Program. 

OMB Number: 1545–1896. 

Form Number: 13551. 

Abstract: Form 13551 is used to 

gather information to determine 

applicant’s eligibility in the Acceptance 

Agent Program. 

Current Actions: There are no changes 

being made to the form at this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Businesses or other 

for-profit organizations, not-for-profit 

institutions, and Federal, state, local or 

tribal government. 

Estimated Number of Respondents: 

12,825. 

Estimated Time per Respondent: 30 

minutes. 

Estimated Total Annual Burden 

Hours: 6,413. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. All 

comments will become a matter of 

public record. Comments are invited on: 

(a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (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; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 


emcdonald on DSK2BSOYB1PROD with NOTICES
66428 Federal Register / Vol. 75, No. 208 / Thursday, October 28, 2010 / Notices 

Approved: October 21, 2010. 

Gerald Shields, 

IRS Supervisory Tax Analyst. 

[FR Doc. 2010–27223 Filed 10–27–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form CT–2 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning Form 

CT–2, Employee Representative’s 

Quarterly Railroad Tax Return. 

DATES: Written comments should be 

received on or before December 27, 2010 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields, Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

should be directed to Elaine Christophe, 

(202) 622–3179, or at Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224, 

or through the Internet, at 

Elaine.H.Christophe@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Employee Representative’s 

Quarterly Railroad Tax Return. 

OMB Number: 1545–0002. 

Form Number: Form CT–2. 

Abstract: Employee representatives 

file Form CT–2 quarterly to report 

compensation on which railroad 

retirement taxes are due. The IRS uses 

this information to ensure that 

employee representatives have paid the 

correct tax. Form CT–2 also transmits 

the tax payment. 

Current Actions: There are no changes 

being made to the form at this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals or 

households. 

Estimated Number of Respondents: 

112. 

Estimated Time per Respondent: 1 hr., 

8 min. 

Estimated Total Annual Burden 

Hours: 127. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. All 

comments will become a matter of 

public record. Comments are invited on: 

(a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (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; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Approved: October 21, 2010. 

Gerald Shields, 

IRS Supervisory Tax Analyst. 

[FR Doc. 2010–27224 Filed 10–27–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8945 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning the 

PTIN Supplemental Application For 

U.S. Citizens Without A Social Security 

Number Due To Conscientious Reasons. 

DATES: Written comments should be 

received on or before December 27, 2010 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields, Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

should be directed to Elaine Christophe, 

(202) 622–3179, or at Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224, 

or through the Internet, at 

Elaine.H.Christophe@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: PTIN Supplemental Application 

For U.S. Citizens Without A Social 

Security Number Due To Conscientious 

Reasons. 

OMB Number: 1545–2188. 

Form Number: 8945. 

Abstract: Most individuals applying 

for a Preparer Tax Identification 

Number (PTIN) will have a social 

security number, which will be used to 

help establish their identity. However, 

there exists a population of U.S. 

residents that are religious objectors and 

do not have social security numbers. 

Form 8945 is being created to assist that 

population in establishing their identity 

while applying for a PTIN. 

Current Actions: There is no change 

in the paperwork burden previously 

approved by OMB. This form is being 

submitted for renewal purposes only. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Businesses and other 

for-profit organizations. 

Estimated Number of Respondents: 

500. 

Estimated Time per Respondent: 5 

hrs., 43 min. 

Estimated Total Annual Burden 

Hours: 2,860. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a 

collection of information must be 


emcdonald on DSK2BSOYB1PROD with NOTICES