[Federal Register Volume 86, Number 179 (Monday, September 20, 2021)]
[Proposed Rules]
[Pages 52114-52120]
[FR Doc No: 2021-20400]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 93

[Docket No. FAA-2020-0862]

COVID-19 Related Relief Concerning Operations at Chicago O'Hare
International Airport, John F. Kennedy International Airport, Los
Angeles International Airport, Newark Liberty International Airport,
New York LaGuardia Airport, Ronald Reagan Washington National Airport,
and San Francisco International Airport for the Winter 2021/2022
Scheduling Season

AGENCY: Federal Aviation Administration (FAA), Department of
Transportation (DOT).

ACTION: Notice of proposed extension of a limited, conditional waiver
of the minimum slot usage requirement for all international operations.

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SUMMARY: The FAA proposes to extend through March 26, 2022, the
Coronavirus (COVID-19)-related limited, conditional waiver of the
minimum slot usage requirement at John F. Kennedy International Airport
(JFK), New York LaGuardia Airport (LGA), and Ronald Reagan Washington
National Airport (DCA) that the FAA has already made available through
October 30, 2021, for all international operations. Similarly, the FAA
proposes to extend through March 26, 2022, its COVID-19-related
limited, conditional policy for prioritizing flights canceled at
designated International Air Transport Association (IATA) Level 2
airports in the United States, for purposes of establishing a carrier's
operational baseline in the next corresponding season, for all
international operations. These IATA Level 2 airports include Chicago
O'Hare International Airport (ORD), Newark Liberty International
Airport (EWR), Los Angeles International Airport (LAX), and San
Francisco International Airport (SFO). This relief would be limited to
slots and approved operating times used by any carrier for
international operations only, through March 26, 2022, and would be
subject to the same terms and conditions, with minor modifications,
that the FAA has already applied to the relief that remains available
through October 30, 2021. This notice invites stakeholders to submit
comments with detailed supporting information relevant to FAA making a
final decision. The FAA anticipates subsequently providing notice of
its final decision.

DATES: Submit comments on or before September 27, 2021.

ADDRESSES: Submit written views and supporting data by email to the
Slot Administration Office at<EMAIL_ADDRESS>
FOR FURTHER INFORMATION CONTACT: Al Meilus, Manager, Slot
Administration, AJR-G, Federal Aviation Administration, 800
Independence Avenue SW, Washington, DC 20591; telephone<PHONE_NUMBER>;
email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    On March 16, 2020, the FAA granted a limited waiver of the minimum
slot usage requirements \1\ to carriers operating at all slot-
controlled airports in the United States (DCA, JFK, and LGA) \2\ and
related relief to carriers operating at designated IATA Level 2
airports in the United States (EWR, LAX, ORD, SFO) due to the
extraordinary impacts on the demand for air travel resulting from the
COVID-19 pandemic.\3\ Since the initial slot usage waiver and related
relief was provided, the FAA has taken action to extend the relief
provided on three occasions subject to certain substantive changes,
including the addition of conditions, as the COVID-19 situation
continued to evolve.\4\ The most recent limited, conditional extension
of COVID-19 related relief was issued by the FAA on January 13, 2021,
and is due to expire on October 31, 2021.\5\
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    \1\ The FAA has authority for developing ``plans and policy for
the use of the navigable airspace'' and for assigning ``by
regulation or order the use of the airspace necessary to ensure the
safety of aircraft and the efficient use of airspace.'' 49 U.S.C.
40103(b)(1). The FAA manages slot usage requirements under the
authority of 14 CFR 93.227 at DCA and under the authority of Orders
at JFK and LGA. See Operating Limitations at John F. Kennedy
International Airport, 85 FR 58258 (Sep. 18, 2020); Operating
Limitations at New York LaGuardia Airport, 85 FR 58255 (Sep. 18,
2020).
    \2\ Although DCA and LGA are not designated as IATA Level 3
slot-controlled airports given that these airports primarily serve
domestic destinations, the FAA limits operations at these airports
via rules at DCA and an Order at LGA that are equivalent to IATA
Level 3. See FN 1. The FAA reiterates that the relief provided in
the March 16, 2020, notice (85 FR 15018), the April 17, 2020, notice
(85 FR 21500), the October 7, 2020, notice (85 FR 63335), and this
policy statement, extends to all allocated slots, including slots
allocated by exemption.
    \3\ Notice of Limited Waiver of the Slot Usage Requirement, 85
FR 15,018 (Mar. 16, 2020).
    \4\ Notice of Extension of Limited Waiver of the Minimum Slot
Usage Requirement, 85 FR 21,500 (Apr. 17, 2020); Extension of
Limited Waiver of the Minimum Slot Usage Requirement, 85 FR 63,335
(Oct. 7, 2020); and FAA Policy Statement: Limited, Conditional
Extension of COVID-19 Related Relief for the Summer 2021 Scheduling
Season (Docket No. FAA-2020-0862-0302).
    \5\ FAA Policy Statement: Limited, Conditional Extension of
COVID-19 Related Relief for the Summer 2021 Scheduling Season
(Docket No. FAA-2020-0862-0302).
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Current COVID-19 Situation

    Since the FAA's January 13, 2021, policy statement granting a
limited, conditional extension of COVID-19-related relief at slot-
controlled airports and IATA Level 2 airports in the United States,
COVID-19 has continued to cause disruption globally and the timeline
for recovery from this global pandemic remains uncertain. The World
Health Organization (WHO) reports COVID-19 cases in more than 200
countries, areas, and territories worldwide.\6\ For the week ending
September 12, 2021, the WHO reported nearly 4 million new COVID-19
cases and just over 62,000 new deaths, bringing the cumulative total to
more than 224 million reported COVID-19 cases and more than 4.6 million
deaths globally since the start of the COVID-19 pandemic.\7\
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    \6\ https://covid19.who.int/table.
    \7\ COVID-19 weekly epidemiological update, September 14, 2021,
available at: https://www.who.int/emergencies/diseases/novel-coronavirus-2019/situation-reports See also https://covid19.who.int/
for WHO COVID-19 Dashboard with the most current number of cases
reported.
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    The WHO reports that it is monitoring multiple variants globally;
currently the WHO has classified four different variants as ``variants
of concern'' and five different variants as ``variants of interest.''
\8\ The Center for Disease Control (CDC) is monitoring four variants of
COVID-19 in the United States.\9\ These variants include: The B.1.1.7
(Alpha), B.1.351 (Beta), P.1 (Gamma), and B.1.617.2 (Delta).\10\ The
CDC has stated that these variants of concern--including the current
dominant Delta variant--spread more easily and quickly. However, the
CDC reports that so far, studies suggest that the current Food and Drug
Administration (FDA)-approved or authorized vaccines do work against
the circulating variants.\11\
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    \8\ https://www.who.int/en/activities/tracking-SARS-CoV-2-variants/.
    \9\ Center for Disease Control (CDC), About Variants of the
Virus that Causes COVID-19, available at: https://www.cdc.gov/coronavirus/2019-ncov/variants/variant.html.
    \10\ Id.
    \11\ Id. See also https://www.cdc.gov/coronavirus/2019-ncov/vaccines/effectiveness/work.html.
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    On January 21, 2021, President Biden announced the National
Strategy for the COVID-19 Response and Pandemic Preparedness, a
national strategy to beat the COVID-19 pandemic.\12\ The strategy is a
comprehensive plan that starts with restoring public trust and mounting
an aggressive, safe, and effective vaccination campaign while
continuing with the steps that stop the spread like expanded masking,
testing, and social distancing. On September 9, 2021, President Biden
announced a six-pronged approach to expand vaccinations, provide
booster shots, keep schools safely open, increase testing and masking,
protect the economic recovery, and improve care for those with COVID-
19.\13\
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    \12\ https://www.whitehouse.gov/wp-content/uploads/2021/01/National-Strategy-for-the-COVID-19-Response-and-Pandemic-Preparedness.pdf.
    \13\ President Biden's COVID-19 Plan [bond] The White House.
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    Currently three COVID-19 vaccines have been authorized for
emergency use or approved by the FDA.\14\ As of September 13, 2021,
53.9% of Americans are fully vaccinated and 63.2% of Americans have
received at least one dose.\15\ Increased rates of vaccination in the
U.S., along with other measures to stop the spread have resulted in an
overall decline of the U.S. COVID-19 infection rate since the previous
COVID-19 waiver proceeding. However, cases increased again following
the U.S. reaching its lowest rates of infection experienced since the
week of March 16, 2020 (79,358 confirmed new cases for the week of June
14 reflected the lowest rate of infection since the week of March, 16,
2020).\16\ When the FAA extended COVID-19-related relief on January 13,
2021, the number of confirmed cases of COVID-19 in the U.S. for the
week of January 11, 2021, based on WHO data, was 1,580,016.\17\ For the
week ending September 12, 2021, which is the most recent week for which
data is available, the WHO reports 1,034,836 confirmed cases in the
United States.\18\
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    \14\ https://www.fda.gov/emergency-preparedness-and-response/coronavirus-disease-2019-covid-19/covid-19-vaccines.
    \15\ CDC, COVID-19 Vaccinations in the United States, updated
September 13, 2021, available at: https://covid.cdc.gov/covid-data-tracker/#vaccinations.
    \16\ https://covid19.who.int/region/amro/country/us.
    \17\ FAA Policy Statement: Limited, Conditional Extension of
COVID-19 Related Relief for the Summer 2021 Scheduling Season.
(Docket No. FAA-2020-0862-0302). See also https://covid19.who.int/region/amro/country/us.
    \18\ COVID-19 weekly epidemiological update, September 14, 2021,
available at: https://www.who.int/emergencies/diseases/novel-coronavirus-2019/situation-reports. See also https://covid19.who.int/region/amro/country/us.
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    The U.S. is attempting to distribute vaccines globally to help
vaccination numbers improve.\19\ On August 18, 2021, President Biden
announced that in the months of June and July the United States had
donated 100 million doses and that in the coming months of fall and
early winter another 100 million boosters and 200 million

additional doses will be donated to other countries.\20\
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    \19\ https://www.whitehouse.gov/briefing-room/statements-releases/2021/06/03/statement-by-president-joe-biden-on-global-vaccine-distribution/.
    \20\ https://www.whitehouse.gov/briefing-room/speeches-remarks/2021/08/18/remarks-by-president-biden-on-fighting-the-covid-19-pandemic-2/.
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    The President has placed a suspension and limitation on entry into
the United States for non-U.S. citizens or permanent residents who have
been present in, several foreign countries within the preceding 14
days.\21\ International travel advisories issued by the U.S. Department
of State's Global Health Advisory remain in effect worldwide, including
designations ranging from Level 1--Exercise Normal Precautions to Level
4--Do Not Travel for more than 200 destinations.\22\ A majority of
countries are designated either Level 3 of Level 4--where COVID-19
numbers are classified as high and very high, respectively.\23\ The
U.S. Department of State advises that challenges to any international
travel at this time may include mandatory quarantines, travel
restrictions, and closed borders. The U.S. Department of State has
noted further that foreign governments may implement restrictions with
little notice, even in destinations that were previously low risk.
Accordingly, the U.S. Department of State has warned Americans choosing
to travel internationally that their trip may be disrupted severely and
it may be difficult to arrange travel back to the United States. The
CDC advises prospective domestic travelers to consider whether their
destination has requirements or restrictions for travelers, and notes
that State, local, and territorial governments may have travel
restrictions in place, including testing requirements, stay-at-home
orders, and quarantine requirements upon arrival.\24\
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    \21\ https://www.whitehouse.gov/briefing-room/presidential-actions/2021/01/25/proclamation-on-the-suspension-of-entry-as-immigrants-and-non-immigrants-of-certain-additional-persons-who-pose-a-risk-of-transmitting-coronavirus-disease/.
    \22\ https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories.html/.
    \23\ https://www.cdc.gov/coronavirus/2019-ncov/travelers/map-and-travel-notices.html#travel-4.
    \24\ https://www.cdc.gov/coronavirus/2019-ncov/travelers/travel-during-covid19.html.
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Standard Applicable to This Waiver Proceeding

    The FAA reiterates the standards applicable to petitions for
waivers of the minimum slot usage requirements in effect at DCA, JFK,
and LGA, as discussed in the FAA's initial decision granting relief due
to COVID-19 impacts.\25\ At JFK and LGA, each slot must be used at
least 80 percent of the time.\26\ Slots not meeting the minimum usage
requirements will be withdrawn. The FAA may waive the 80 percent usage
requirement in the event of a highly unusual and unpredictable
condition that is beyond the control of the slot-holding air carrier
and which affects carrier operations for a period of five consecutive
days or more.\27\
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    \25\ See 85 FR 15018 (Mar. 16, 2020).
    \26\ Operating Limitations at John F. Kennedy International
Airport, 85 FR 58258 (Sep. 18, 2020); Operating Limitations at New
York LaGuardia Airport, 85 FR 47065 at 58255 (Sep. 18, 2020).
    \27\ At JFK, historical rights to operating authorizations and
withdrawal of those rights due to insufficient usage will be
determined on a seasonal basis and in accordance with the schedule
approved by the FAA prior to the commencement of the applicable
season. See JFK Order, 85 FR at 58260. At LGA, any operating
authorization not used at least 80 percent of the time over a two-
month period will be withdrawn by the FAA. See LGA Order, 85 FR at
58257.
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    At DCA, any slot not used at least 80 percent of the time over a
two-month period also will be recalled by the FAA.\28\ The FAA may
waive this minimum usage requirement in the event of a highly unusual
and unpredictable condition that is beyond the control of the slot-
holding carrier and which exists for a period of nine or more days.\29\
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    \28\ See 14 CFR 93.227(a).
    \29\ See 14 CFR 93.227(j).
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    When making decisions concerning historical rights to allocated
slots, including whether to grant a waiver of the usage requirement,
the FAA seeks to ensure the efficient use of valuable aviation
infrastructure while maximizing the benefits to airport users and the
traveling public. This minimum usage requirement is expected to
accommodate routine cancelations under all but the most unusual
circumstances. Carriers proceed at risk if, at any time prior to a
final decision, they make decisions in anticipation of the FAA granting
a slot usage waiver.

Summary of Petitions From Stakeholders Concerning Continued COVID-19
Relief

    The FAA has received nine petitions regarding COVID-19-related
relief for the Winter 2021/2022 season to date. Five petitioners,
including the International Air Transport Association (IATA), Avianca
Airlines, All Nippon Airways (ANA), Lufthansa Group, and Airlines for
America (A4A) \30\ seek further relief through the end of the Winter
2021/2022 scheduling season due to ongoing COVID-19 impacts on demand
for air travel. These petitioners emphasize the critical importance of
an expedient decision to provide the industry with stability and
certainty during the ongoing COVID-19 pandemic. Three petitioners,
including JetBlue Airways (JetBlue), Southwest Airlines Co.
(Southwest), and Airports Council International-North America (ACI-NA),
oppose further extension of the limited, conditional relief FAA has
made available through October 30, 2021. ACI-NA and JetBlue oppose any
further relief due to COVID-19; however, JetBlue recognizes the
potential need for relief for international operations and urges FAA to
adopt a case-by-case approach to evaluating petitions for relief.
Southwest specifically opposes any further relief at U.S. domestic
airports, DCA and LGA. One petitioner submitted a petition marked
privileged and confidential.
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    \30\ All petitions and other submissions related to COVID-19
relief beyond the Summer 2021 season received by the FAA, with
exception of one petition which was marked privileged and
confidential, have been included in the docket for this proceeding.
The FAA notes that two submissions were received from IATA, dated
June 4 and June 25, 2021, respectively.
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    IATA, Avianca, ANA, and Lufthansa Group support continued relief
for international operations at U.S. slot-controlled and IATA Level 2
airports and would prefer the FAA adopt the Worldwide Airport Slot
Board's (WASB) slot relief package.\31\ The FAA has previously
described the provisions of the WASB slot relief package and explained
how the provisions would be applied in the United States, if adopted,
in a notice of proposed extension of a limited, conditional waiver of
minimum slot usage requirement beyond March 27, 2021, which was
published in the Federal Register on December 22, 2020 (85 FR 83672).
The WASB slot relief package remains unchanged from the prior slot
relief proceeding.
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    \31\ A summary of the WASB proposal for Winter 2021/2022 was
included in an annex to IATA's June 4, 2021 petition, which has been
placed in the docket for this proceeding.
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    IATA believes ``the situation remains critically desperate and
recovery slow'' highlighting the ``uncertainty around the need for
booster vaccinations this fall, the impact of variants and government
management of restrictions related to these outbreaks, lack of
significant corporate demand until at least 2022, significant new
outbreaks in Asia and Latin American and the related government
retraction from reopening, as well as the disparity between countries
approaches to managing the risk'' as justification for continued slot
relief for international operations. IATA states that flexibility from
continued slot usage relief ``enables airlines to focus flying where
there is demand and not purely to satisfy slot use rules'' and that
``worsening the competitive position of U.S. aviation as it emerges

from the crisis only serves to jeopardize more jobs and further risks
U.S. international connectivity.''
    A4A supports a waiver of minimum slot usage requirements for
international operations at U.S. slot-controlled airports and IATA
Level 2 airports. A4A believes a waiver of minimum slot usage
requirements for international operations is needed because
``international demand remains repressed and to ensure a level playing
field.'' A4A states that international operations ``remain
significantly deterred as a result of COVID-19 and direct government
actions.'' Further A4A highlights that ``many countries have included
reciprocity requirements previously and will likely wait until the U.S.
acts before providing relief to ensure foreign carrier access to slots
and gates in the U.S. when they resume operations.'' A4A asserts,
``without reciprocity U.S. carriers will lose slots in key
international markets and be put at a significant competitive
disadvantage relative to foreign competitors.''
    JetBlue and ACI-NA oppose continued slot usage relief and support a
return to usual 80/20 minimum slot usage requirements. ACI-NA believes
that ``the U.S. is turning the corner in our battle against
Coronavirus'' and that ``there are beginning to be opportunities for
international travel.'' ACI-NA states that ending slot usage waivers
``will allow affected airports to begin piecing together their future
air services portfolios that enable airports to drive sustainable
economic growth for the communities they serve.'' Likewise, JetBlue
believes that ``demand has returned and is growing and the U.S. airline
industry will not be able to recover with full haste if competition-
altering slot waivers continue without restriction.'' In addition,
JetBlue believes that international flying levels may never return and
broad waivers discourage the repurposing of slots previously used for
international service. However, JetBlue states that it ``appreciates
the complexities in international markets that were raised in the IATA
letter'' and urges that ``DOT/FAA enable a case-by-case evaluation for
limited exemptions based on extreme circumstances such as border
closure or conditions of entry that represent de facto border
closure.''
    Southwest opposes continued slot usage relief at domestic-focused
airports. Southwest specifically requests that the FAA ``reject any
further requests for waivers of slot usage requirements for DCA and
LGA, considering (a) the resurgence in the demand for domestic airline
travel since March 2021, and (b) that DCA and LGA have perimeter
restrictions that ensures the vast majority of flights from these
airports are domestic.'' In addition, Southwest states, ``reopening
these two predominately domestic airports would reflect the reality
that domestic traffic is far more robust than international markets.''
Further, Southwest requests the FAA reduce barriers to competition at
DCA and LGA and believes returning to normal slot usage requirements
will ``clear the way for such competition to resume.''

Discussion of Proposal

Continued Relief for International Operations Through March 26, 2022

    In consideration of the foregoing information, the petitions that
the FAA has received, and the evolving and highly unpredictable
situation globally with respect to ongoing impacts from COVID-19 at the
current moment, the FAA proposes to extend, for all international
operations, the current limited, conditional relief that FAA has
already made available through October 30, 2021, through the end of the
Winter 2021/2022 season on March 26, 2022.\32\ This relief would be
limited to slots and approved operating times used by carriers for
international operations, through March 26, 2022, and would be subject
to the same terms and conditions, with minor modifications, that the
FAA has applied to the relief already made available through October
30, 2021, which the FAA reiterates in this notice. International
operations, for purpose of this notice, are flights intended for
operation between one of the U.S. slot-controlled or IATA Level 2
airports and any point in a foreign jurisdiction.
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    \32\ The FAA notes that for purposes of the relief proposed in
this proceeding, Canadian carriers would be treated as foreign
carriers.
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    It is not the policy of the Department of Transportation (DOT) to
use slot and Level 2 rules to reserve capacity for historic incumbent
carriers until demand returns to predetermined levels. Instead, it is
the policy of the Department to encourage high utilization of scarce
public infrastructure. Under the established standard, slot usage
waivers are generally used to address short-term, unpredictable shocks
to demand or capacity that are beyond carriers' control. After 19
months of experience, the DOT believes it is becoming apparent that
COVID-19 is causing structural and operational changes to the airline
industry; the industry is adapting; and the issuance of waivers should
not hinder that adaptation. As previously stated, at some point in
time, repeated waivers to preserve pre-COVID slot holdings will impede
the ability of airports and airlines to provide services that benefit
the overall national economy and make appropriate use of scarce public
assets. Therefore, the FAA emphasizes that operators should not assume
further relief on the basis of COVID-19 will be forthcoming beyond the
end of the Winter 2021/22 scheduling season.
    IATA reports that international flights globally are operating
around 88% below 2019 levels, with only slight recovery in
international traffic forecast by the end of 2021 to about 66% below
2019 levels. As indicated by IATA, ``[t]he situation remains critically
desperate and recovery slow with low advance bookings and many more
last-minute bookings (and cancellations) on most routes projected for
the foreseeable future. Uncertainty around the need for booster
vaccinations this fall, the impact of variants and government
management of restrictions related to these outbreaks, lack of
significant corporate demand until at least 2022, significant new
outbreaks in Asia and Latin America and the related government
retraction from reopening, as well as the disparity between countries
approaches to managing the risk justifies continued slot relief at this
time. Without any stability and planning still at a 6-8 week horizon,
airlines will continue to need maximum flexibility.''
    FAA agrees with these petitioners and believes, based on global
vaccination rates, changing infection rates and the threat of new virus
strains, continued unpredictability of international travel
restrictions, and the disparity between demand for domestic air travel
and demand for international air travel, that extending the current
limited, conditional waiver for international operations by all
carriers, is reasonable. The FAA believes that extending the limited,
conditional slot usage waiver, for international operations only,
through the Winter 2021/2022 season would provide carriers with
flexibility to operate in the unpredictable international market and
would support long term viability of carrier operations at slot-
controlled and IATA Level 2 airports in the United States.
    The FAA recognizes that domestic carriers have a mix of both
domestic and international operations and therefore the agency intends
to make this relief available for international operations that would
have been operated in the Winter 2021/2022 season, but for COVID-19
impacts. In other words, the FAA intends to provide this conditional
relief to domestic carriers on a scale that

is comparable to each carrier's pre-COVID level of international
service. The FAA would generally evaluate any request for relief from
U.S. carriers for the Winter 2021/2022 scheduling season based on
historical levels of operations to foreign points as demonstrated in
published schedules. Domestic carriers seeking relief for a particular
operation under the waiver will need to provide the FAA, if not readily
apparent from FAA records and historic published schedule data,
alternative supplemental information that predates this notice to
demonstrate intent to use a slot or approved operating time for an
international destination. The FAA would not accept evidence of intent
to use a particular slot or approved operating time for an
international flight during the Winter 2021/2022 season, if the
information is dated after this notice is issued.
    International operations eligible for a waiver under this proposal
would be subject to all of the same conditions and policies, with minor
modifications, described in FAA's January 13, 2021 policy statement,
which remains in effect at slot-controlled and IATA Level 2 airports in
the United States for the Summer 2021 season.\33\ The FAA believes the
conditions associated with the relief provided to date are generally
comparable to the WASB package and remain necessary to strike a balance
between competing interests of incumbent carriers and those carriers
seeking new or increased access at these historically-constrained
airports, as well as to ensure the relief is appropriately tailored to
reduce the potential to suppress flight operations for which demand
exists. The conditions for relief at slot-controlled airports, which
the FAA would apply to the relief proposed in this notice, include:
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    \33\ FAA Policy Statement: Limited, Conditional Extension of
COVID-19 Related Relief for the Summer 2021 Scheduling Season.
(Docket No. FAA-2020-0862-0302).
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    (1) All slots not intended to be operated must be returned at least
four weeks prior to the date of the FAA-approved operation to allow
other carriers an opportunity to operate these slots on an ad hoc basis
without historic precedence. Compliance with this condition is required
for operations scheduled from October 31, 2021 through the duration of
this relief; therefore, carriers should begin notifying the FAA of
Winter returns by October 4, 2021. Slots operated as approved on a non-
historic basis in Winter 2021/2022 will be given priority over new
demands for the same timings in the next equivalent season (Winter
2022/23) for use on a non-historic basis, subject to capacity
availability and consistent with established rules and policies in
effect in the United States.34 35 Foreign carriers seeking
priority under this provision will be required to represent that their
home jurisdiction will provide reciprocal priority to U.S. carrier
requests of this nature.
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    \34\ Consistent with the FAA's final policy statement issued
January 13, 2021, this priority would apply to slot or schedule
requests for Winter 2022/2023, which are comparable in timing,
frequency, and duration to the non-historic ad hoc approvals made by
the FAA for Winter 2021/2022. This priority does not affect the
historic precedence or priority of slot holders and carriers with
schedule approvals, respectively, which meet the conditions of the
waiver during Winter 2021/2022 and seek to resume operating in
Winter 2022/2023. The FAA may consider this priority in the event
that slots with historic precedence become available for permanent
allocation by the FAA.
    \35\ Although the FAA is proposing to extend the four-week
rolling return policy consistent with the Summer 2021 waiver, any
carrier returning full-season slots or schedule approvals at an
airport outside the United States and associated with a route to the
United States will generally be expected to similarly return the
complementary full-season U.S. slot or schedule approval to the FAA
for re-allocation on a non-historic or ad hoc basis.
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    (2) The waiver does not apply to slots newly allocated for initial
use during the Winter 2021/2022 season. New allocations meeting minimum
usage requirements remain eligible for historic precedence. The waiver
does not apply to historic in-kind slots within any 30-minute or 60-
minute time period, as applicable, in which a carrier seeks and obtains
a similar new allocation (i.e., arrival or departure, air carrier or
commuter, if applicable); and,
    (3) the waiver does not apply to slots newly transferred on an
uneven basis (i.e., via one-way slot transaction/lease) since October
15, 2020, for the duration of the transfer.\36\ Slots transferred prior
to this date may benefit from the waiver if all other conditions are
met. Slots granted historic precedence for subsequent seasons based on
this relief are not eligible for transfer if the slot holder ceases all
operations at the airport.
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    \36\ As previously explained, the FAA has determined not to
revise this condition to include a buffer period for new transfers
to be completed and still benefit from this waiver. Therefore, this
policy will remain in effect continuously from the initial effective
date of October 16, 2020.
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    In addition, as proposed, an exception may be granted to these
conditions based on any government restriction that prevents or
severely restricts international travel to specific airports,
destinations (including intermediate points) or countries for which the
slot was held. This exception applies under extraordinary circumstances
only in which a carrier is able to demonstrate that the ability to
operate a particular flight or comply with the conditions of the
proposed waiver is prevented or severely restricted due to an
unpredictable official governmental action related to COVID-19. This
proposed exception includes minor modifications compared to the
exception currently in effect for the Summer 2021 season.\37\ The FAA
seeks to provide greater flexibility in allowing exceptions under
certain circumstances based on issues that have arisen in the course of
implementing the relief currently available. Official government
actions that may qualify for this exception, include--
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    \37\ See FAA Policy Statement: Limited, Conditional Extension of
COVID-19 Related Relief for the Summer 2021 Scheduling Season
(Docket No. FAA-2020-0862-0302).
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     Government travel restrictions based on nationality,
closed borders, government advisories related to COVID-19 that warn
against all but essential travel, or complete bans on flights from/to
certain countries or geographic areas.
     Government restrictions related to COVID-19 on the maximum
number of arriving or departing flights and/or the number of passengers
on a specific flight or through a specific airport.
     Government restrictions on movement or quarantine/
isolation measures within the country or region where the airport or
destination (including intermediate points) is located.
     Government-imposed closure of businesses essential to
support aviation activities (e.g., closure of hotels, ground handling
suppliers, etc.).
     Governmental restrictions on airline crew, including
unreasonable entry requirements or unreasonable testing and/or
quarantine measures.
    This exception is being administered by the FAA in coordination
with the Office of the Secretary of Transportation (OST). The
extraordinary circumstances exception in this slot usage relief would
only apply within the scope of the relief otherwise provided by the
waiver; U.S. carriers should not expect to rely on the extraordinary
circumstances exception for relief for domestic operations.
    The conditions for COVID-19-related relief for prioritizing flights
canceled at IATA Level 2 airports, for purposes of establishing a
carrier's operational baseline in the next corresponding season, which
the FAA would apply to the relief proposed in this notice include:
    (1) All schedules as initially submitted by carriers and approved
by

the FAA and not intended to be operated must be returned at least four
weeks prior to the date of the FAA-approved operation to allow other
carriers an opportunity to operate these times on an ad hoc basis
without historic precedence. Schedules operated as approved on an ad
hoc basis in Winter 2021/2022 will be given priority over new demands
for the same timings in the next equivalent season (Winter 2022/2023)
for use on an ad hoc basis, subject to capacity availability and
consistent with established rules and policies in effect in the United
States. Foreign carriers seeking priority under this provision would be
required to represent that their home jurisdiction will provide
reciprocal priority to U.S. carrier requests of this nature; and,
    (2) The priority for FAA schedules approved for Winter 2021/2022
does not apply to net-newly approved operations for initial use during
the Winter 2021/2022 season. New approved times will remain eligible
for priority consideration in Winter 2022/2023 if actually operated in
Winter 2021/2022 according to established processes.
    Consistent with the proposal for slot-controlled airports, limited
exceptions may be granted from either or both of these conditions at
Level 2 airports under extraordinary circumstances due to any
government restriction that prevents or severely restricts travel to
specific airports, destinations (including intermediate points), or
countries for which the slot was held, as discussed previously with
respect to slot-controlled airports. If the exception is determined not
to apply, carriers are expected to meet the conditions for relief or
operate consistent with standard expectations for the Level 2
environment. The extraordinary circumstances exception in this slot
usage relief would only apply within the scope of the relief otherwise
provided by the waiver, carriers should not expect to rely on the
extraordinary circumstances exception for relief related to domestic
operations.
    The FAA believes an extension of relief for all international
operations, through March 26, 2022, is reasonable due to fluctuating
travel restrictions and ongoing economic and health impacts of COVID-19
internationally. The proposed relief is expected to provide carriers
with flexibility during this unprecedented situation and to support the
long-term viability of international operations at slot-controlled and
IATA Level 2 airports in the United States.\38\ Continuing relief for
this additional period is reasonable to mitigate the impacts on
passenger demand for international air travel resulting from the spread
of COVID-19 worldwide.
---------------------------------------------------------------------------

    \38\ The FAA is responsible to develop plans and policy for the
use of navigable airspace and assign by regulation or order the use
of the airspace necessary to ensure the safety of aircraft and the
efficient use of airspace. See 49 U.S.C. 40103(b)(1). The FAA
manages slot usage requirements under the authority of 14 CFR 93.227
at DCA and under the authority of Orders at LGA and JFK. See
Operating Limitations at John F. Kennedy International Airport, 85
FR 58258 (Sep. 18, 2020); Operating Limitations at New York
LaGuardia Airport, 85 FR 58255 (Sep. 18, 2020).
---------------------------------------------------------------------------

    As of the date of issuance of this notice, U.S. domestic air travel
demand and vaccination rates have reached a level that the FAA believes
no longer necessarily justifies COVID-19-related slot usage relief
domestically. However, COVID-19 continues to present a highly unusual
and unpredictable condition for international operations that is beyond
the control of carriers. Indeed, foreign carriers in many parts of the
world are prevented from operating to the United States due to
governmental restrictions resulting from COVID-19. The continuing
impacts of COVID-19 on global aviation are dramatic and extraordinary,
with an unprecedented decrease in passenger demand for international
air travel globally. The ultimate duration and severity of COVID-19
impacts on passenger demand for international air travel remains
unclear. Even after the pandemic is contained, impacts on passenger
demand for international air travel are likely to continue for some
time.
    If the FAA extends relief for international operations through
March 26, 2022, as proposed, the FAA expects that foreign slot
coordinators will provide reciprocal relief to U.S. carriers. To the
extent that U.S. carriers fly to a foreign carrier's home jurisdiction
and that home jurisdiction does not offer reciprocal relief to U.S.
carriers, the FAA may determine not to grant a waiver to that foreign
carrier. A foreign carrier seeking a waiver may wish to ensure that the
responsible authority of the foreign carrier's home jurisdiction
submits a statement by email to<EMAIL_ADDRESS>confirming
reciprocal treatment of the slot holdings of U.S. carriers.

Invitation for Comment and Submission of Supporting Information

    The FAA seeks views and information regarding this proposal.
Interested persons are invited to submit comments and supporting
information to demonstrate why the FAA should or should not finalize
this decision, and to submit any information relevant to making this
decision. The FAA has received multiple formal petitions advocating on
behalf of U.S. carriers that seek continued relief for international
operations. However, the FAA has not received formal, individualized
requests from U.S. carriers explaining the need for continued relief
for international operations despite the early signs of recovery of air
travel demand in the United States and certain parts of the world and
the potential for U.S. carriers to utilize slots for operations on
alternative routes--domestic or international. In particular, U.S.
carriers are invited to provide individualized responses to the
following--
     What is the basis with supporting rationale under which a
U.S. carrier may necessitate continued relief for international
operations in light of increasing demand for air travel domestically
and for some international destinations? To what extent do carriers
anticipate being unable to meet minimum slot usage requirements and/or
operate consistent with approvals at Level 2 airports?
     What is the particularized relief requested for the Winter
2021/2022 season? In other words, each U.S. carrier seeking relief for
international operations this Winter is invited to provide a detailed
accounting of which operations in its portfolio have historically been
used for international service versus domestic as well as any
differences for the upcoming Winter 2021/2022 season, with an
explanation regarding what extent (such, as percentage) of the
carriers' international portfolio cannot be repurposed for alternate
operations?
     What sources of information, other than historic published
schedules, would U.S. carriers make available to FAA to demonstrate
intent to use specific slots or approved timing for international
operations versus domestic?
     To what extent have U.S. carriers relied upon the relief
provided for the Summer 2021 season for international operations?
    Information submitted to the FAA may be subject to disclosure under
the Freedom of Information Act. The FAA recognizes that commenters may
seek to submit business information that is both customarily and
actually treated as confidential. Persons that submit such confidential
business information should clearly mark the information as ``PROPIN''.
The FAA will take the necessary steps to protect properly designated
information to the extent allowable by law.

    After receiving and reviewing comments, the FAA anticipates
subsequently providing notice of its final decision.

    Issued in Washington, DC, on September 16, 2021.
Lorelei Dinges Peter,
Assistant Chief Counsel for Regulations.
Virginia T. Boyle,
Vice President, System Operations Services.
[FR Doc. 2021-20400 Filed 9-16-21; 4:15 pm]
BILLING CODE 4910-13-P


[Federal Register Volume 80, Number 46 (Tuesday, March 10, 2015)]
[Notices]
[Pages 12675-12680]
[FR Doc No: 2015-05477]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74430; File No. SR-CBOE-2015-023]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing of Proposed Rule Change To List and
Trade Options on the MSCI EAFE Index and on the MSCI Emerging Markets
Index

March 4, 2015.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act'' or ``Exchange Act''),\1\ and Rule 19b-4 thereunder,\2\
notice is hereby given that on February 26, 2015, the Chicago Board
Options Exchange, Incorporated (the ``Exchange'' or ``CBOE'') filed
with the Securities and Exchange Commission (the ``Commission'') the
proposed rule change as described in Items I, II, and III below, which
Items have been prepared by the Exchange. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    CBOE proposes to list and trade options that overlie the MSCI EAFE
Index and the MSCI Emerging Markets Index (``EAFE options'' and ``EM
options''). EAFE and EM options would be P.M., cash-settled contracts
with European-style exercise. The text of the proposed rule change is
available on the Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the
Secretary, and at the Commission.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of and basis for the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this proposed rule change is to permit the Exchange
to list and trade options that overlie the MSCI EAFE Index and the MSCI
Emerging Markets Index (``EAFE options'' and ``EM options''). EAFE and
EM options would be P.M., cash-settled contracts with European-style
exercise.\3\
---------------------------------------------------------------------------

    \3\ CBOE's proposed rule change is substantially similar to
approved filings made by NASDAQ OMX Phlx (``Phlx'') in 2011 and 2012
to list and trade EM and EAFE options, respectively. See Securities
Exchange Act Release Nos. 66420 (February 17, 2012), 77 FR 11177
(February 24, 2012) (approving SR-Phlx-2011-179 to list EM options)
and 66861 (April 26, 2012), 77 FR 26056 (May 2, 2012) (approving SR-
Phlx-2012-28 to list EAFE options).
---------------------------------------------------------------------------

MSCI EAFE Index Design, Methodology and Dissemination
    The MSCI EAFE Index (Europe, Australasia, Far East) is a free,
[sic] float-adjusted market capitalization index that is designed to
measure the equity market performance of developed markets, excluding
the U.S. & Canada. The MSCI EAFE Index consists of the following 21
developed market country indexes: Australia, Austria, Belgium, Denmark,
Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the
Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden,
Switzerland, and the United Kingdom. The MSCI EAFE Index consists of
large and midcap components, has 910 constituents and ``covers
approximately 85% of the free float-adjusted market capitalization in
each country.'' \4\
---------------------------------------------------------------------------

    \4\ See MSCI EAFE Index fact sheet (dated December 31, 2014)
located at: http://www.msci.com/resources/factsheets/index_fact_sheet/msci-eafe-index-usd-price.pdf.
---------------------------------------------------------------------------

    The MSCI EAFE Index was launched on December 31, 1969 and is
calculated by MSCI Inc. (``MSCI''), which is a provider of investment
support tools. The MSCI EAFE Index is calculated in U.S. dollars on a
real-time basis from the open of the first market on which the
components are traded to the closing of the last marked [sic] on which
the components are traded. The methodology used to calculate the MSCI
EAFE Index is similar to the methodology used to calculate the value of
other benchmark market-capitalization weighted indexes. Specifically,
the MSCI EAFE Index is based on the MSCI Global Investable Market
Indexes (``GIMI'') Methodology.\5\ The level of the MSCI EAFE Index
reflects the free float-adjusted market value of the component stocks
relative to a particular base date and is computed by dividing the
total market value of the companies in the MSCI EAFE Index by the index
divisor.
---------------------------------------------------------------------------

    \5\ Summary and comprehensive information about the GIMI
methodology may be reviewed at: http://www.msci.com/products/indexes/size/all_cap/methodology.html.
---------------------------------------------------------------------------

    The MSCI EAFE Index is monitored and maintained by MSCI.
Adjustments to the MSCI EAFE Index are made on a daily basis with
respect to corporate events and dividends. MSCI reviews the MSCI EAFE
Index quarterly (February, May, August and November) ``with the
objective of reflecting change in the underlying equity markets in a
timely manner, while limiting undue index turnover. During the May and
November reviews, the [MSCI EAFE Index] is rebalanced and the large and
mid capitalization cutoff points are recalculated.'' \6\
---------------------------------------------------------------------------

    \6\ See MSCI EAFE Index fact sheet (dated December 31, 2014)
located at: http://www.msci.com/resources/factsheets/index_fact_sheet/msci-eafe-index-usd-price.pdf.
---------------------------------------------------------------------------

    Real-time data is distributed approximately every 15 seconds while
the index is being calculated using MSCI's real-time calculation engine
to Bloomberg L.P. (``Bloomberg''), FactSet Research Systems, Inc.
(``FactSet'') and Thomson Reuters (``Reuters''). End of day data is
distributed daily to clients through MSCI as well as through major
quotation vendors, including Bloomberg, FactSet, and Reuters.
    The Exchange notes that the iShares MSCI EAFE exchange traded fund
(``ETF'') is an actively traded product. CBOE also lists options
overlying that ETF (``EFA options'') and those options are actively
traded as well. MSCI EAFE Mini Index (``EAFE'') futures contracts are
listed for trading on the Intercontinental Exchange, Inc. (``ICE'') \7\
and other derivatives contracts on the MSCI EAFE Index are listed for
trading in Europe.
---------------------------------------------------------------------------

    \7\ See EAFE futures contract specifications located at: https://globalderivatives.nyx.com/node/10864.
---------------------------------------------------------------------------

EM Index Design and Calculation
    The MSCI EM Index is a free float-adjusted market capitalization
index that is designed to measure equity market performance of emerging
markets. The MSCI EM Index consists of the following 23 emerging market
country indexes: Brazil, Chile, China, Colombia, Czech Republic, Egypt,
Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru,
Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand,
Turkey and United Arab Emirates. The MSCI EM Index consists of large
and midcap components, has 834 constituents and ``covers approximately
85% of the free float-adjusted market capitalization in each country.''
\8\
---------------------------------------------------------------------------

    \8\ See MSCI EM Index fact sheet (dated December 31, 2014)
located at: http://www.msci.com/resources/factsheets/index_fact_sheet/msci-emerging-markets-index-usd-price.pdf.
---------------------------------------------------------------------------

    The MSCI EM Index was launched on June 30, 1988 and is calculated
by MSCI. The MSCI EM Index is calculated in U.S. dollars on a real-time
basis from the open of the first market on which the components are
traded to the closing of the last marked [sic] on which the components
are traded. The methodology used to calculate the MSCI EM Index is
similar to the methodology used to calculate the value of other
benchmark market-capitalization weighted indexes. Specifically, the
MSCI EM Index is based on the MSCI GIMI Methodology.\9\ The level of
the MSCI EM Index reflects the free float-adjusted market value of the
component stocks relative to a particular base date and is computed by
dividing the total market value of the companies in the MSCI EM Index
by the index divisor.
---------------------------------------------------------------------------

    \9\ Summary and comprehensive information about the GIMI
methodology may be reviewed at: http://www.msci.com/products/indexes/size/all_cap/methodology.html.
---------------------------------------------------------------------------

    The MSCI EM Index is monitored and maintained by MSCI. Adjustments
to the MSCI EM Index are made on a daily basis with respect to
corporate events and dividends. MSCI reviews the MSCI EM Index
quarterly (February, May, August and November) ``with the objective of
reflecting change in the underlying equity markets in a timely manner,
while limiting undue index turnover. During the May and November
reviews, the [MSCI EM Index] is rebalanced and the large and mid
capitalization cutoff points are recalculated.'' \10\
---------------------------------------------------------------------------

    \10\ See MSCI EM Index fact sheet (dated December 31, 2014)
located at: http://www.msci.com/resources/factsheets/index_fact_sheet/msci-emerging-markets-index-usd-price.pdf.
---------------------------------------------------------------------------

    Real-time data is distributed approximately every 15 seconds using
MSCI's real-time calculation engine to Bloomberg, FactSet and Reuters.
End of day data is distributed daily to clients through MSCI as well as
through major quotation vendors, including Bloomberg, FactSet, and
Reuters.
    The Exchange notes that the iShares MSCI Emerging Markets ETF is an
actively traded product. CBOE also lists options overlying that ETF
(``EEM options'') and those options are actively traded as well. MSCI
Emerging Markets Mini Index (``EM'') futures contracts are listed for
trading on ICE \11\ and other

derivatives contracts on the MSCI EM Index are listed for trading in
Europe.
---------------------------------------------------------------------------

    \11\ See EM futures contract specifications located at: https://globalderivatives.nyx.com/node/10846.
---------------------------------------------------------------------------

Initial and Maintenance Listing Criteria
    The MSCI EAFE Index and MSCI EM Index each meet the definition of a
broad-based index as set forth in Rule 24.1(i)(1).\12\ In addition, the
Exchange proposes to create specific initial and maintenance listing
criteria for options on the MSCI EAFE Index and on the MSCI EM Index.
Specifically, the Exchange proposes to add new Interpretation and
Policy .01(a) to Rule 24.2, Designation of the Index, to provide that
he [sic] Exchange may trade EAFE and EM options if each of the
following conditions is satisfied: (1) The index is broad-based, as
defined in Rule 24.1(i)(1); (2) Options on the index are designated as
P.M.-settled index options; (3) The index is capitalization-weighted,
price-weighted, modified capitalization-weighted or equal dollar-
weighted; (4) The index consists of 500 or more component securities;
(5) All of the component securities of the index will have a market
capitalization of greater than $100 million; (6) No single component
security accounts for more than fifteen percent (15%) of the weight of
the index, and the five highest weighted component securities in the
index do not, in the aggregate, account for more than fifty percent
(50%) of the weight of the index; (7) Non-U.S. component securities
(stocks or ADRs) that are not subject to comprehensive surveillance
agreements do not, in the aggregate, represent more than: (i) Twenty
percent (20%) of the weight of the EAFE Index, and (ii) twenty-two and
a half percent (22.5%) of the weight of the EM Index; (8) During the
time options on the index are traded on the Exchange, the current index
value is widely disseminated at least once every fifteen (15) seconds
by one or more major market data vendors. However, the Exchange may
continue to trade EAFE options after trading in all component
securities has closed for the day and the index level is no longer
widely disseminated at least once every fifteen (15) seconds by one or
more major market data vendors, provided that EAFE futures contracts
are trading and prices for those contracts may be used as a proxy for
the current index value; (9) The Exchange reasonably believes it has
adequate system capacity to support the trading of options on the
index, based on a calculation of the Exchange's current Independent
System Capacity Advisor (ISCA) allocation and the number of new
messages per second expected to be generated by options on such index;
and (10) The Exchange has written surveillance procedures in place with
respect to surveillance of trading of options on the index.
---------------------------------------------------------------------------

    \12\ Rule 24.2(i)(1) [sic] defines a broad-based index to mean
an index designed to representative [sic] of a stock market as a
whole or of a range of companies in unrelated industries.
---------------------------------------------------------------------------

    Additionally, the Exchange proposes to add new Interpretation and
Policy .01(b) to Rule 24.2, Designation of the Index, to set forth the
following maintenance listing standards for options on the MSCI EAFE
Index and on the MSCI EM Index: (1) The conditions set forth in
subparagraphs .01(a)(1), (2), (3), (4), (7), (8), (9) and (10) must
continue to be satisfied. The conditions set forth in subparagraphs
.01(a)(5) and (6) must be satisfied only as of the first day of January
and July in each year; and (2) the total number of component securities
in the index may not increase or decrease by more than thirty-five
percent (35%) from the number of component securities in the index at
the time of its initial listing. In the event a class of index options
listed on the Exchange fails to satisfy the maintenance listing
standards set forth herein, the Exchange shall not open for trading any
additional series of options of that class unless the continued listing
of that class of index options has been approved by the Commission
under Section 19(b)(2) of the Exchange Act.
    The Exchange believes that P.M. settlement is appropriate for EAFE
and EM options due to the natures of these indexes that encompass
multiple markets around the world. As to the MSCI EAFE Index, the
components open with the start of trading in certain parts of Asia at
approximately 5:00 p.m. (Chicago time) (prior day) and close with the
end of trading in Europe at approximately 11:30 a.m. (Chicago time)
(next day) as closing prices from Ireland are accounting [sic] for in
the closing calculation. The closing MSCI EAFE Index level is
distributed by MSCI between approximately 1:00 p.m. and 2:00 p.m.
(Chicago time) each trading day.
    As a result, there will not be a current MSCI EAFE Index level
calculated and disseminated during a portion of the time during which
EAFE options would be traded (from approximately 11:30 a.m. (Chicago
time) to 3:15 p.m. (Chicago time)).\13\ However, the EAFE futures
contract that trades on ICE will be trading during this time
period.\14\ The Exchange believes that the EAFE futures prices would be
a proxy for the current MSCI EAFE Index level. Therefore, the Exchange
believes that EAFE options should be permitted to trade after trading
in all component securities has closed for the day and the index level
is no longer widely disseminated at least once every fifteen (15)
seconds by one or more major market data vendors, provided that EAFE
futures contracts are trading and prices for those contracts may be
used as a proxy for the current index value.
---------------------------------------------------------------------------

    \13\ The trading hours for multiply listed EFA options are from
8:30 a.m. (Chicago time) to 3:15 p.m. (Chicago time). See EFA
Options Product Specifications located at: http://www.cboe.com/micro/efa/specifications.aspx.
    \14\ The trading hours for EAFE futures are from 6:16 p.m.
(Chicago time) to 4:00 p.m. (Chicago time) the following day, Sunday
through Friday. See MSCI EAFE Mini Index Future Contract
specifications located at: https://globalderivatives.nyx.com/node/10864.
---------------------------------------------------------------------------

    As to the MSCI EM index, the components open with the start of
trading in certain parts of Asia at approximately 6:00 p.m. (Chicago
time) (prior day) and close with the end of trading in Mexico and Peru
at approximately 3:30 p.m. (Chicago time) (next day) as closing prices
from Brazil, Chile, Peru and Mexico, including late prices, are
accounted for in the closing calculation. The closing MSCI EM Index
level is distributed at approximately 5:00 p.m. (Chicago time) each
trading day.\15\
---------------------------------------------------------------------------

    \15\ Late prices indicate that while the last real-time stock
tick come [sic] in at approximately 3:00 p.m. (Chicago time), the
MSCI EM Index will stay open for a few minutes longer to allow any
late price information to be obtained. At approximately 3:30 p.m.
(Chicago time), the final foreign currency rates are applied and the
last real-time MSCI EM Index value is disseminated.
---------------------------------------------------------------------------

    Because the MSCI EAFE Index and on [sic] the MSCI EM Index each has
a large number of component securities, representative of many
countries, the Exchange believes that the initial listing requirements
are appropriate to trade options on this index [sic]. In addition,
similar to other broad based indexes, the Exchange proposes various
maintenance requirements, which require continual compliance and
periodic compliance.
Options Trading
    Generally, the proposed trading rules for EAFE and EM options would
be the same except for their respective trading hours, which the
Exchange will describe separately below. Exhibit 3 presents contract
specifications for EAFE and EM options.
    The contract multiplier for EAFE and EM options would be $100. EAFE
and EM options would be quoted in index points and one point would
equal $100. The minimum tick size for series trading below $3 would be
0.05 ($5.00) and above $3 will be 0.10 ($10.00).
    Initially, the Exchange would initially list in-, at- and out-of-
the-money strike prices. Additional series may be opened

for trading as the underlying index level moves up or down.\16\ The
minimum strike price interval for EAFE and EM series would be 2.5
points if the strike price is less than 200. When the strike price is
200 or above, strike price intervals would be no less than 5
points.\17\ New series would be permitted to be added up to the fifth
business day prior to expiration.\18\
---------------------------------------------------------------------------

    \16\ See Rules 24.9(c) [sic] and 24.9.04. These rules set forth
the criteria for listing additional series of the same class as the
current value of the underlying index moves. Generally, additional
series must be ``reasonably related'' to the current index value,
which means that strike prices must be within 30% of the current
index value. Series exceeding the 30% range may be listed based on
demonstrated customer interest.
    \17\ See proposed amendments to Rule 24.9.01(a) adding EAFE and
EM as classes eligible for 2.5 point minimum strikes if the strike
price is below 200.
    \18\ See Rule 24.9.01(c).
---------------------------------------------------------------------------

    The Exchange would be permitted to list up to twelve near-term
expiration months.\19\ The Exchange would also be permitted to list up
to ten expirations in Long-Term Index Option Series (``LEAPS'') on the
EAFE and EM indexes and those indexes would be eligible for all other
expirations permitted for other broad-based indexes, e.g., End of Week/
End of Month Expirations, Short Term Option Series and Quarterly Option
Series.\20\
---------------------------------------------------------------------------

    \19\ See proposed amendments to Rule 24.9(a)(2). The Exchange is
proposing to allow the listing of up to twelve expiration months at
any one time for EAFE and EM options.
    \20\ See, e.g., Rules 24.9(b) (LEAPS), 24.9(e) (End of Week/End
of Month Expirations), 24.9(a)(2)(A) (Short Term Option Series) and
24.9(a)(2)(B) (Quarterly Option Series).
---------------------------------------------------------------------------

    The trading hours for EAFE options would be from 8:30 a.m. (Chicago
time) to 3:15 p.m. (Chicago time), except that trading in expiring EAFE
options would end at 10:00 a.m. (Chicago time) on their expiration
date. The Exchange is proposing that EAFE options trade only during a
portion of the day on their expiration date to align the trading hours
of expiring EAFE options with expiring EAFE futures. EAFE futures trade
on ICE and stop trading at 10:00 a.m. (Chicago time) on the third
Friday of the futures contract month.\21\
---------------------------------------------------------------------------

    \21\ See EAFE futures contract specifications located at:
https://globalderivatives.nyx.com/node/10864. See also Securities
Exchange Act Release No. 67070 [sic] (May 29, 2012), 77 FR 33013
(June 4, 2012) (Notice of SR-Phlx-2012-67 to close the trading of
expiring EAFE options at 10:00 a.m. (Chicago time) on their
expiration date).
---------------------------------------------------------------------------

    The trading hours for EM options would be from 8:30 a.m. to 3:15
p.m. (Chicago time).
Exercise and Settlement
    The proposed EAFE and EM options would expire on the third Friday
of the expiring month. Trading in expiring EAFE options would cease at
10:00 a.m. (Chicago time) on their expiration date and trading in
expiring EM options would cease at 3:15 p.m. (Chicago time) on their
expiration date. When the last trading day/expiration date is moved
because of an Exchange holiday or closure, the last trading day/
expiration date for expiring options would be the immediately preceding
business day.
    Exercise would result in delivery of cash on the business day
following expiration. EAFE and EM options would be P.M.-settled. The
exercise settlement value would be the official closing values of the
MSCI EAFE Index and the MSCI EM Index as reported by MSCI on the last
trading day of the expiring contract.\22\
---------------------------------------------------------------------------

    \22\ See proposed amendment to Rule 24.1.01(a) [sic] to identify
MSCI Inc. as the Reporting Authority for the MSCI EAFE Index (EAFE)
and the MSCI Emerging Markets Index (EM). As the designated
Reporting Authority for each of these indexes, the disclaimers set
forth in Rule 24.14 (Disclaimers) would apply to MSCI Inc.
---------------------------------------------------------------------------

    The exercise settlement amount would be equal to the difference
between the exercise-settlement value and the exercise price of the
option, multiplied by the contract multiplier ($100).
    If the exercise settlement value is not available or the normal
settlement procedure cannot be utilized due to a trading disruption or
other unusual circumstance, the settlement value would be determined in
accordance with the rules and bylaws of The Options Clearing
Corporation (``OCC'').\23\
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    \23\ See Rule 24.7.
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Position and Exercise Limits
    The Exchange proposes to apply the default position limits for
broad-based index options to EAFE and EM options. Specifically, the
chart set forth in Rule 24.4(a), Position Limits for Broad-Based Index
Options, provides that the positions limits applicable to ``other
broad-based indexes'' is 25,000 contracts (standard limit/on the same
side of the market) and 15,000 contracts (near-term limit). Pursuant to
Rule 24.5, Exercise Limits, the exercise limits for EAFE and EM options
would be equivalent to the position limits for EAFE and EM options. All
position limit hedge exemptions would apply.
Margin
    The Exchange proposes that EAFE and EM options be margined as
``broad-based index'' options, and under CBOE rules, especially, Rule
12.3(c)(5)(A), the margin requirement for a short put or call shall be
100% of the current market value of the contract plus 15% of the
``product of the current index group value and the applicable index
multiplier,'' reduced by any out-of-the-money amount. There would be a
minimum margin requirement of 100% of the current market value of the
contract plus: 10% of the aggregate put exercise price amount in the
case of puts, and 10% of the product of the current index group value
and the applicable index multiplier in the case of calls. Additional
margin may be required pursuant to Rules 12.3(h) and 12.10 (Margin
Required is Minimum).
Exchange Rules Applicable
    Except as modified herein, the rules in Chapters I through XIX,
XXIV, XXIVA, and XXIVB would equally apply to EAFE and EM options. EAFE
and EM options would be subject to the same rules that currently govern
other CBOE index options, including sales practice rules,\24\ margin
requirements \25\ and trading rules.\26\
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    \24\ See Chapter IX (Doing Business with the Public).
    \25\ See Chapter XII (Margins).
    \26\ See, e.g., Chapters IV (Business Conduct), VI (Doing
Business on the Trading Floor), Chapter VIII (Market-Makers, Trading
Crowds and Modified Trading Systems) and Chapter XXIV (Index
Options).
---------------------------------------------------------------------------

    The Exchange hereby designates EAFE and EM options as eligible for
trading as Flexible Exchange Options as provided for in Chapters XXIVA
(Flexible Exchange Options) and XXIVB (FLEX Hybrid Trading System).\27\
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    \27\ See proposed amendments to Rules 24A.7, Position Limits and
Reporting Requirements, and 24B.7, Position Limits and Reporting
Requirements, providing that the position limits for FLEX Index
options on the MSCI EAFE Index and on the MSCI Emerging Market [sic]
Index would be equal to the position limits for Non-FLEX options on
those indexes. Per existing Rules 24A.8, Exercise Limits, and 24B.8,
Exercise Limits, the exercise limits for FLEX EAFE and EM option
would be equivalent to the position limits for FLEX EAFE and EM
options.
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Surveillance and Capacity
    The Exchange represents that is [sic] has an adequate surveillance
program in place for EAFE and EM options and intends to use the same
surveillance procedures currently utilized for each of the Exchange's
other index options to monitor trading in EAFE and EM options.
    The Exchange is a member of the Intermarket Surveillance Group
(``ISG''), which ``covers major self-regulatory bodies across the
world.'' ``The purpose of the ISG is to provide a framework for the
sharing of information and the coordination of regulatory efforts among
exchanges trading securities and related products to address potential
intermarket manipulations and trading abuses. The ISG plays a crucial
role in

information sharing among markets that trade securities, options on
securities, security futures products, and futures and options on
broad-based security indexes.'' A list identifying the current ISG
members is available at: https://www.isgportal.org/home.html.
    The Exchange is also an affiliate member of the International
Organization of Securities Commissions (``IOSCO''), which has members
from over 100 different countries. Each of the countries from which
there is a component security in the [sic] both the MSCI EAFE and MSCI
EM Indexes is a member of IOSCO.\28\ A list identifying the current
ordinary IOSCO members is available at: http://www.iosco.org/about/?subsection=membership&memid=1. Finally, the Exchange has entered into
various comprehensive surveillance agreements (``CSAs'') and/or
Memoranda of Understanding with various stock exchanges. Given the
capitalization of the EAFE and EM Indexes and the deep and liquid
markets for the securities underlying these Indexes, the concerns for
market manipulation and/or disruption in the underlying markets are
greatly reduced.
---------------------------------------------------------------------------

    \28\ There are three categories of IOSCO members: ordinary,
associate and affiliate. In general, the ordinary members (124) are
the national securities commissions in their respective
jurisdictions. Associate members (12) are usually agencies or
branches of government, other than the principal national securities
regulator in their respective jurisdictions that have some
regulatory competence over securities markets, or intergovernmental
international organizations and other international standard-setting
bodies, such as the IMF and the World Bank, with a mission related
to either the development or the regulation of securities markets.
Affiliate members (62) are self-regulatory organizations, stock
exchanges, financial market infrastructures, investor protection
funds and compensation funds, and other bodies with an appropriate
interest in securities regulation. See IOSCO Fact Sheet located at:
http://www.iosco.org/about/pdf/IOSCO-Fact-Sheet.pdf.
---------------------------------------------------------------------------

    The Exchange notes that the EFA and EM ETFs are actively traded
products. CBOE also lists options overlying those ETFS (EFA and EEM
options) and those options are actively traded as well.
    CBOE has analyzed its capacity and represents that it believes the
Exchange and the Options Price Reporting Authority (``OPRA'') have the
necessary systems capacity to handle the additional traffic associated
with the listing of new series that would result from the introduction
of EAFE and EM options. Because the proposal is limited to two new
classes, the Exchange believes that the additional traffic that would
be generated from the introduction of EAFE and EM options would be
manageable.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\29\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \30\ requirements that the rules of an exchange be
designed to promote just and equitable principles of trade, to prevent
fraudulent and manipulative acts, to remove impediments to and to
perfect the mechanism for a free and open market and a national market
system, and, in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \29\ 15 U.S.C. 78f(b).
    \30\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change will further
the Exchange's goal of introducing new and innovative products to the
marketplace. Currently, the Exchange believes that there is unmet
market demand for exchange-listed security options listed on these two
popular cash indexes. (CBOE understands that Phlx no longer lists EAFE
and EM options). As described above, the iShares MSCI EAFE ETF and
iShares MSCI Emerging Markets ETF are actively traded products, as are
the options on those ETFs. EAFE and EM futures are listed for trading
on ICE. In addition, other derivatives contracts on the MSCI EAFE Index
and the MSCI EM Index are listed for trading in Europe. As a result,
CBOE believes that EAFE and EM options are designed to provide
different and additional opportunities for investors to hedge or
speculate on the market risk on the MSCI EAFE Index and the MSCI EM
Index by listing an option directly on these indexes.
    The Exchanges believes that both the MSCI EAFE Index and the MSCI
EM Index are not easily susceptible to manipulation. Both indexes are
broad-based indexes and have high market capitalizations. The MSCI EAFE
Index is comprised of 910 component stocks and no single component
comprises more than 5% of the index, making it not easily subject to
market manipulation. Similarly, the MSCI EM Index is comprised of 834
components stocks and no single component comprises more than 3% to 5%
of the index, making it not easily subject to market manipulation.
    Additionally, the iShares MSCI EAFE and iShares MSCI Emerging
Markets ETFs are actively traded products, as are options on those
ETFs. Because both indexes have large numbers of component securities,
are representative of many countries and trade a large volume with
respect to ETFs and options on those ETFs, the Exchange believes that
the initial listing requirements are appropriate to trade options on
these indexes. In addition, similar to other broad-based indexes, the
Exchange proposes to adopt various maintenance criteria, which would
require continual compliance and periodic compliance.
    EAFE and EM options would be subject to the same rules that
currently govern other CBOE index options, including sales practice
rules,\31\ margin requirements \32\ and trading rules.\33\ The Exchange
would apply the same default position limits for broad-based index
options to EAFE and EM options. Specifically, the applicable position
limits would be 25,000 contracts (standard limit/on the same side of
the market) and 15,000 contracts (near-term limit). The exercise limits
for EAFE and EM options would be equivalent to the position limits for
EAFE and EM options. These same position and exercise limits would
apply to FLEX trading. All position limit hedge exemptions would apply.
The Exchange would apply existing index option margin requirements for
the purchase and sale of EAFE and EM options.
---------------------------------------------------------------------------

    \31\ See Chapter IX (Doing Business with the Public).
    \32\ See Chapter XII (Margins).
    \33\ See, e.g., Chapters IV (Business Conduct), VI (Doing
Business on the Trading Floor), Chapter VIII (Market-Makers, Trading
Crowds and Modified Trading Systems) and Chapter XXIV (Index
Options).
---------------------------------------------------------------------------

    The Exchange represents that is [sic] has an adequate surveillance
program in place for EAFE and EM options. The Exchange also represents
that it has the necessary systems capacity to support the new option
series.

B. Self-Regulatory Organization's Statement on Burden on Competition

    CBOE does not believe that the proposed rule change will impose any
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act. Specifically, CBOE believes that the
introduction of new cash index options will enhance competition among
market participants and will provide a new type of options to compete
with domestic products such as EFA and EEM options, EAFE and EM futures
and European-traded derivatives on the MSCI EAFE Index and the MSCI EM
Index to the benefit of investors and the marketplace.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the Exchange consents, the Commission will:
    A. by order approve or disapprove such proposed rule change, or
    B. institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-CBOE-2015-023 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-CBOE-2015-023. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the CBOE. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-CBOE-2015-023 and should be
submitted on or before March 31, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\34\
---------------------------------------------------------------------------

    \34\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2015-05477 Filed 3-9-15; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 83, Number 10 (Tuesday, January 16, 2018)]
[Notices]
[Pages 2291-2292]
[FR Doc No: 2018-00560]

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DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2017-0116]

Qualification of Drivers; Exemption Applications; Implantable
Cardioverter Defibrillator (ICD)

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.

ACTION: Notice of denials.

-----------------------------------------------------------------------

SUMMARY: FMCSA announces its decision to deny applications from two
individuals treated with Implantable Cardioverter Defibrillators (ICDs)
who requested an exemption from the Federal Motor Carrier Safety
Regulations (FMCSRs) prohibiting operation of a commercial motor
vehicle (CMV) in interstate commerce by persons with a current clinical
diagnosis of myocardial infarction, angina pectoris, coronary
insufficiency, thrombosis, or any other cardiovascular disease of a
variety known to be accompanied by syncope, dyspnea, collapse, or
congestive heart failure.

FOR FURTHER INFORMATION CONTACT: Ms. Christine A. Hydock, Chief,
Medical Programs Division,<PHONE_NUMBER>, [email protected], FMCSA,
Department of Transportation, 1200 New Jersey Avenue SE, Room W64-224,
Washington, DC 20590-0001. Office hours are from 8:30 a.m. to 5 p.m.,
ET, Monday through Friday, except Federal holidays. If you have
questions regarding viewing or submitting material to the docket,
contact Docket Services, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Electronic Access

    You may see all the comments online through the Federal Document
Management System (FDMS) at: http://www.regulations.gov.
    Docket: For access to the docket to read background documents or
comments, go to http://www.regulations.gov and/or Room W12-140 on the
ground level of the West Building, 1200 New Jersey Avenue SE,
Washington, DC, between 9 a.m. and 5 p.m., ET, Monday through Friday,
except Federal holidays.
    Privacy Act: In accordance with 5 U.S.C. 553(c), DOT solicits
comments from the public to better inform its rulemaking process. DOT
posts these comments, without edit, including any personal information
the commenter provides, to http://www.regulations.gov, as described in
the system of records notice (DOT/ALL-14 FDMS), which can be reviewed
at http://www.dot.gov/privacy.

II. Background

    On May 4, 2017, FMCSA published a FR notice (82 FR 20961)
announcing receipt of applications from two individuals treated with
ICDs and requested comments from the public. These two individuals
requested an exemption from 49 CFR 391.41(b)(4) which prohibits
operation of a CMV in interstate commerce by persons with a current
clinical diagnosis of myocardial infarction, angina pectoris, coronary
insufficiency, thrombosis, or any other cardiovascular disease of a
variety known to be accompanied by syncope, dyspnea, collapse, or
congestive heart failure. The public comment period closed on June 5,
2017, and two comments were received.
    FMCSA has evaluated the eligibility of these applicants and
concluded that granting these exemptions would not provide a level of
safety that would be equivalent to or greater than, the level of safety
that would be obtained by complying with the regulation 49 CFR
391.41(b)(4). A summary of each applicant's medical history related to
their ICD exemption request was discussed in the May 4, 2017, Federal
Register notice and will not be repeated in this notice.
    In reaching the decision to deny these exemption requests, the
Agency considered information from the Cardiovascular Medical Advisory
Criteria, the April 2007 Evidence Report ``Cardiovascular Disease and
Commercial Motor Vehicle Driver Safety, a December 2014 focused
research report ``Implantable Cardioverter Defibrillators and the
Impact of a Shock in a Patient When Deployed.'' Copies of the reports
are included in the docket.
    FMCSA has published advisory criteria to assist medical examiners
in determining whether drivers with certain medical conditions are
qualified to operate a CMV in interstate commerce. [Appendix A to Part
391--Medical Advisory Criteria, section D, paragraph 4.] The advisory
criteria for 49 CFR 391.41(b)(4) indicates that coronary artery bypass
surgery and pacemaker implantation are remedial procedures and thus,
not medically disqualifying. Implantable cardioverter defibrillators
are disqualifying due to risk of syncope.

III. Discussion of Comments

    FMCSA received two comments in this proceeding. Each of the
comments was favorable towards the applicants continuing to drive CMV's
with ICD's citing their ICDs have not deployed and their medical and
physical conditions are stable. FMCSA acknowledges the commenters'
responses concerning stable medical histories with ICDs. Based on the
available medical literature cited above, however, FMCSA believes that
a driver with an ICD is at risk for incapacitation if the device
discharges. This risk is combined with the risks associated with the
underlying cardiovascular condition for which the

ICD has been implanted as a primary or secondary preventive measure.

IV. Basis for Exemption Determination

    Under 49 U.S.C.31136(e) and 31315, FMCSA may grant an exemption if
it finds such an exemption would likely achieve a level of safety that
is equivalent to, or greater then, the level that would be achieved
absent such an exemption.
    The Agency's decision regarding these exemption applications is
based on an individualized assessment of each applicant's medical
information provided by the applicant, available medical and scientific
data concerning ICDs, and public comments received.
    In the case of persons with ICDs, the underlying condition for
which the ICD was implanted places the individual at high risk for
syncope (a transient loss of consciousness) or other unpredictable
events known to result in gradual or sudden incapacitation. ICDs may
discharge, which could result in loss of ability to safely control a
CMV. See the April 2007 Evidence Report on Cardiovascular Disease and
Commercial Motor vehicle Driver Safety, April 2007.\1\ A focused
research report on Implantable Cardioverter Defibrillators and the
Impact of a Shock on a Patient When Deployed completed for the FMCSA
December 2014 indicates that the available scientific data on persons
with ICDs and CMV driving does not support that persons with ICDs who
operate CMVs are able to meet an equal or greater level of safety and
upholds the findings of the April 2007 report.
---------------------------------------------------------------------------

    \1\ Now available at http://ntl.bts.gov/lib/30000/30100/30123/Final_CVD_Evidence_Report_v2.pdf.
---------------------------------------------------------------------------

V. Conclusion

    The Agency has determined that the available medical and scientific
literature and research provides insufficient data to enable the Agency
to conclude that granting these exemptions would achieve a level of
safety equivalent to, or greater than, the level of safety maintained
without the exemption. Therefore, the following two applicants have
been denied exemptions from the physical qualification standards in 49
CFR 391.41(b)(4):

Justin D. Dale (IA)
Raymond M. Loffredo (PA)

    Each applicant has, prior to this notice, received a letter of
final disposition regarding his/her exemption request. Those decision
letters fully outlined the basis for the denial and constitutes final
action by the Agency. The list published today summarizes the Agency's
recent denials as required under 49 U.S.C. 31315(b)(4).

    Issued on: January 5, 2018.
Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2018-00560 Filed 1-12-18; 8:45 am]
 BILLING CODE 4910-EX-P


[Federal Register Volume 80, Number 69 (Friday, April 10, 2015)]
[Notices]
[Page 19310]
[FR Doc No: 2015-08225]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER15-1442-000]

Municipal Energy of PA, LLC; Supplemental Notice That Initial
Market-Based Rate Filing Includes Request for Blanket Section 204
Authorization

    This is a supplemental notice in the above-referenced proceeding,
of Municipal Energy of PA, LLC's application for market-based rate
authority, with an accompanying rate schedule, noting that such
application includes a request for blanket authorization, under 18 CFR
part 34, of future issuances of securities and assumptions of
liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street NE., Washington,
DC 20426, in accordance with Rules 211 and 214 of the Commission's
Rules of Practice and Procedure (18 CFR Sec.  385.211 and Sec.
385.214). Anyone filing a motion to intervene or protest must serve a
copy of that document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability is April 23, 2015.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with Internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
5 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First Street NE., Washington, DC 20426.
    The filings in the above-referenced proceeding(s) are accessible in
the Commission's eLibrary system by clicking on the appropriate link in
the above list. They are also available for review in the Commission's
Public Reference Room in Washington, DC. There is an eSubscription link
on the Web site that enables subscribers to receive email notification
when a document is added to a subscribed docket(s). For assistance with
any FERC Online service, please email<EMAIL_ADDRESS>or
call<PHONE_NUMBER> (toll free). For TTY, call<PHONE_NUMBER>.

    Dated: April 3, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-08225 Filed 4-9-15; 8:45 am]
 BILLING CODE 6717-01-P