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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1557-0251
ICR Reference No:
201510-1557-001
Status:
Historical Active
Previous ICR Reference No:
201407-1557-001
Agency/Subagency:
TREAS/OCC
Agency Tracking No:
Title:
Margin and Capital Requirements for Covered Swap Entities-Final Rule
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
02/18/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/30/2015
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
02/28/2019
36 Months From Approved
Responses
5,200
0
0
Time Burden (Hours)
14,780
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
Sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act require the OCC, FRB, FDIC, FHFA, and FCA to adopt joint rules for swap entities under their jurisdictions imposing capital requirements and initial and variation margin requirements on all non-cleared swaps.
Authorizing Statute(s):
PL:
Pub.L. 111 - 203 731, 764
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Citations for New Statutory Requirements:
Statute at Large: 124 Stat. 1376 Name of Statute: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1557-AD43
Final or interim final rulemaking
80 FR 74840
11/30/2015
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
9
IC Title
Form No.
Form Name
Section 11(b)(1) Posting Initial Margin
Section 2 - Definition of "Eligible Master Netting Agreement"; Section 8(g) Documentation; Section 10 Documentation of Margin Matters
Section 5(c)(2) Required Margin
Section 7(c) Custody Agreement
Section 8(e) Periodic Review; Section 8(f) Control, Oversight, and Validation Mechanisms
Section 8(f)(3) Initial Margin Model Reporting
Section 8(h) Escalation Procedures
Section 9(e) Requests for Determinations
Sections 8(c) and (d) Initial Margin Model
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
5,200
0
5,200
0
0
0
Annual Time Burden (Hours)
14,780
0
14,780
0
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The increase in burden is due to the fact that this is a new collection.
Annual Cost to Federal Government:
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Carl Kaminski 202 649-5869 carl.kaminski@occ.treas.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
11/30/2015
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