CFTC Seeks Public Input on Yet Another Paperwork Collection
Published Date: 10/21/2026
Notice
Summary
The Commodity Futures Trading Commission is asking for public feedback on their plan to collect certain information, as required by law. This affects businesses and individuals who provide data to the agency, with comments due by November 20, 2026. The goal is to keep paperwork manageable while making sure the agency gets what it needs without extra costs or hassle.
Analyzed Economic Effects
6 provisions identified: 3 benefits, 3 costs, 0 mixed.
Daily collateral and customer reporting burden
Under 17 CFR part 22 (sections 22.2(g), 22.11, and 22.12), Futures Commission Merchants (FCMs) and Derivatives Clearing Organizations (DCOs) must perform daily calculations and daily reporting: FCMs must compute daily amounts of Cleared Swaps Customer Collateral, required deposits, and residual interest; FCMs must provide DCOs daily customer identification and each customer's portfolio of rights and obligations; and DCOs and FCMs must daily calculate and record collateral required for each Cleared Swaps Customer. The Commission estimates 95 respondents (71 FCMs and 24 DCOs), an average of 314 burden hours per respondent, and a total annual burden of 29,830 hours.
Depository acknowledgment letter requirement
Section 22.5(a) requires each FCM or DCO to obtain, once, from every depository that holds cleared swaps customer funds a letter acknowledging that such funds belong to Cleared Swaps Customers (not the FCM or another person). The purpose is to confirm the depository's understanding of its responsibilities for protecting those funds.
Customer disclosure of collateral rules
Section 22.16 requires each FCM to disclose to each Cleared Swaps Customer the governing provisions (as set by DCO rules or customer agreements) about use of customer collateral, transfer, neutralization of risks, or liquidation of cleared swaps in the event of a Depositing FCM default. This disclosure is required once to inform customers of procedures that may apply to their collateral.
Notice required for large non-customer withdrawals (25%)
Section 22.17 requires any FCM that makes a withdrawal from a Cleared Swaps Customer Account not for the benefit of Cleared Swaps Customers to produce a written notice explaining the reasons and details if that withdrawal will exceed 25% of the FCM's residual interest in the account. The requirement applies on an occasion-by-occasion basis when the 25% threshold is met or exceeded.
No capital or O&M costs estimated
The Commission states there are no capital costs or operating and maintenance (O&M) costs associated with this information collection (OMB Control No. 3038-0091).
No expansion of public disclosure content
The Commission considered comments asking for standardized public summaries of collateral sufficiency and stronger public disclosures but decided not to expand the content of publicly available information at this time, balancing disclosure benefits against risks to market integrity and customer confidentiality.
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Key Dates
Department and Agencies
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