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OMB Control No: 3064-0204	ICR Reference No: 201608-3064-001
Status: Historical Active	Previous ICR Reference No: 201602-3064-004
Agency/Subagency: FDIC	Agency Tracking No:
Title: Margin and Capital Requirements for Swap Entities [Interagency] IFR
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/13/2017
	Date Received in OIRA: 08/30/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2020	36 Months From Approved	01/31/2017
Responses	1	0	1
Time Burden (Hours)	1,000	0	1,000
Cost Burden (Dollars)	0	0	0

Abstract: This final rule implements Title III of the Terrorism Risk Insurance Program Reauthorization Act of 2015 (‘‘TRIPRA’’), which exempts from the Agencies’ swap margin rules non-cleared swaps and non-cleared security-based swaps in which a counterparty qualifies for an exemption or exception from clearing under the Dodd-Frank Act. This final rule is a companion rule to the joint final rule adopted by the Agencies to implement section 731 and 764 of the Dodd-Frank Act. The final rule implements statutory language that requires certain swaps and security-based swaps of certain counterparties to qualify for a statutory exemption or exception from clearing in order to not be subject to the initial and variation margin requirements of the joint final rule. The reporting requirements are found in § 349.1(d) pursuant to cross-references to other statutory provisions that set forth the conditions for an exemption from clearing. For example, TRIPRA provides that the initial and variation margin requirements of the joint final rule shall not apply to a non-cleared swap or non-cleared security-based swap in which a counterparty qualifies for an exception under section 2(h)(7)(A) of the Commodity Exchange Act or section 3C(g)(1) of the Securities Exchange Act, which includes certain reporting requirements established by the CFTC or the SEC.39 Certain other counterparties that are exempt from clearing pursuant to other provisions are also required to meet these reporting requirements to notify the CFTC or the SEC.40 Thus, in certain cases, the statutory exemption from clearing requires a notification to the CFTC or SEC. These counterparties may be required to meet the same notification requirements that are required for an exception or exemption from clearing in order to qualify for an exception or exemption pursuant to § 349.1(d) from the initial and variation margin requirements established by the Agencies under sections 731 and 764 of the Dodd-Frank Act. Since this final rule serves to implement exemptions and exceptions by reference to existing statutory provisions, § 349.1(d) imposes new reporting requirements that are required under the relevant statutory provisions.

Authorizing Statute(s): PL: Pub.L. 111 - 203 100000 Name of Law: Dodd-Frank Act

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 100000 Name of Law: Dodd-Frank Act

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3064-AE21	Final or interim final rulemaking	81 FR 50605	08/02/2016

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 74916	11/30/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 50605	08/02/2016
Did the Agency receive public comments on this ICR? No

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Margin and Capital Requirements for Covered Swap Entities; Interim Final Rule

ICR Summary of Burden

	Total Approved	Previously Approved
Annual Number of Responses	1	1
Annual Time Burden (Hours)	1,000	1,000
Annual Cost Burden (Dollars)	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:

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: Gary Kuiper 202 898-3877 gkuiper@fdic.gov

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