CFTC Proposes to Renew Information Collection on Swap Data Reporting
CFTC proposed renewal of an information collection on the swap data recordkeeping and reporting requirements related to pre-enactment and transition swaps. The regulation imposes recordkeeping and reporting requirements on swap dealers, major swap participants, and swap counterparties that are neither swap dealers nor major swap participants. Comments must be submitted on or before June 11, 2019.
The collection of information is needed to ensure that CFTC and other regulators have access to data regarding pre-enactment and transition swaps, as required by the Commodity Exchange Act and amended by the Dodd-Frank Act. The Dodd-Frank Act directed CFTC to adopt rules providing for the reporting of data related to swaps entered into before the date of enactment of the Dodd-Frank Act, the terms of which had not expired as of the date of enactment of the Dodd-Frank Act (pre-enactment swaps). The Act also required CFTC to adopt rules providing for the reporting of data related to swaps entered into on or after the date of enactment of the Dodd-Frank Act and prior to the compliance date specified in CFTC's final swap data reporting rules (transition swaps). On June 12, 2012, CFTC adopted regulation 46, which imposes recordkeeping and reporting requirements relating to pre-enactment and historical swaps. With respect to the collection of information, CFTC invites comments on:
- Whether the proposed collection of information is necessary for the proper performance of the functions of CFTC, including whether the information will have a practical use
- The accuracy of CFTC'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
- 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.
Related Link: Federal Register Notice
Comment Due Date: June 11, 2019
Keywords: Americas, US, Banking, Securities, Transition Swaps, Reporting, Swap Data, Dodd-Frank Act, Information Collection, Swap Dealers, Major Swap Participants, CFTC
Featured Experts

Laurent Birade
Advises U.S. and Canadian financial institutions on risk and finance integration, CCAR/DFAST stress testing, IFRS9 and CECL credit loss reserving, and credit risk practices.

María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer

Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Previous Article
Bank of Italy Updates List of Institutions for AnaCredit ReportingRelated Articles
EC Adopts Financial Reporting Changes Arising from Benchmark Reforms
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HMT Updates List of Post-Brexit Equivalence Decisions in UK
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA Issues Erratum for Technical Package on Reporting Framework 3.0
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA Publishes Risk Dashboard for Third Quarter of 2020
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB Finalizes Guide on Supervisory Approach to Bank Consolidation
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.
SRB Chair Outlines Work Priorities for 2021
The SRB Chair Elke König published an article setting out work priorities for 2021.
FDIC Selects Companies to Compete in Final Phase of Tech Sprint
FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.