[Federal Register Volume 83, Number 213 (Friday, November 2, 2018)]
[Notices]
[Pages 55219-55221]
[FR Doc No: 2018-23968]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84498; File No. SR-ICEEU-2018-014]

Self-Regulatory Organizations; ICE Clear Europe Limited; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change
Relating to Amendments to the Recovery Plan and Wind-Down Plan

October 29, 2018.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of
1934, as amended (``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is
hereby given that on October 16, 2018, ICE Clear Europe Limited (``ICE
Clear Europe'' or the ``Clearing House'') filed with the Securities and
Exchange Commission (``Commission'') the proposed rule changes
described in Items I and II below, which Items have been prepared
primarily by ICE Clear Europe. ICE Clear Europe filed the proposed rule
change pursuant to Section 19(b)(3)(A) \3\ of the Act and Rule 19b-
4(f)(6) thereunder,\4\ so that the proposal was immediately effective
upon filing with the Commission. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    ICE Clear Europe proposes to make certain updates to its Recovery
Plan and Wind-Down Plan. The revisions do not involve any changes to
the ICE Clear Europe Clearing Rules or Procedures.\5\
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    \5\ Capitalized terms used but not defined herein have the
meanings specified in the ICE Clear Europe Clearing Rules (the
``Rules'').
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II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    In its filing with the Commission, ICE Clear Europe 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 these statements may be examined at
the places specified in Item IV below. ICE Clear Europe has prepared
summaries, set forth in sections (A), (B), and (C) below, of the most
significant aspects of such statements.

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

(a) Purpose
    ICE Clear Europe is proposing to make certain updates and
amendments to its Recovery Plan and Wind-Down Plan. The amendments
principally reflect certain changes in the Clearing House's treasury
arrangements and related service providers, such as custody banks,
investment agents and settlement banks, that are described in the
current Recovery Plan and Wind-Down Plan.
Recovery Plan
    Specifically, the discussion of Treasury Services in the Recovery
Plan has been revised to reflect that ICE Clear Europe has appointed a
number of concentration banks, custodians and APS banks to support the
treasury function, and to reflect that the current list of such persons
from time to time is made available on the Clearing House website. The
amendments accordingly remove from the Recovery Plan certain references
to specific banks.
    Similarly, lists of key service providers have been updated to
refer to the general categories of investment agents, custodians,
custody agents, APS banks and central banks, to avoid the need to
mention specific institutions in these categories and accordingly
facilitate keeping the plan up to date. Corresponding changes have been
made in appendices to the Recovery Plan to update references to various
institutions that provide treasury services to ICE Clear Europe,
including an additional investment agent. In ICE Clear Europe's view,
the amendments will facilitate use by the Clearing House of additional
service providers, consistent with other ICE Clear Europe policies and
procedures, which will help the Clearing House appropriately manage
credit, operational and other risks from treasury operations.
Wind-Down Plan
    Similar updates are proposed to be made to the Wind-Down Plan. The
discussion concerning termination of various service agreements during
wind-down has been revised to refer more generally to the appointed
investment agents, custodians, custody agents and settlement banks that
may be used by the Clearing House at the time (rather than referring to
specific institutions). The revisions also refer to the termination
provisions (including notice requirements) of the particular agreements
between ICE Clear Europe and those institutions. These amendments will
facilitate keeping the Wind-Down Plan up to date as treasury service
providers change from time to time. The amendments also add references
to the Dutch National Bank as an additional central bank used as a
concentration bank.
(b) Statutory Basis
    ICEU believes that the proposed amendments are consistent with the
requirements of Section 17A of the Act \6\ and the regulations
thereunder applicable to it, including the standards under Rule 17Ad-
22.\7\ Section 17A(b)(3)(F) of the Act \8\ requires, among other
things, that the rules of a clearing agency be designed to promote the
prompt and accurate clearance and settlement of securities transactions
and, to the extent applicable, derivative agreements, contracts, and
transactions, the safeguarding of securities and funds in the custody
or control of the clearing agency or for which it is responsible, and
the protection of investors and the public interest. In addition, Rule
17Ad-22(e)(3)(ii) \9\ requires that each covered clearing agency shall
establish, implement, maintain and enforce written policies and
procedures reasonably designed to, as applicable, maintain a sound risk
management framework for comprehensively managing legal, credit,
liquidity, operational, general business, investment, custody, and
other risks that arise in or are borne by the covered clearing agency,
which includes plans for the recovery and orderly wind-down of the
covered clearing agency necessitated by credit losses, liquidity
shortfalls, losses from general business risk, or any other losses.
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    \6\ 15 U.S.C. 78q-1.
    \7\ 17 CFR 240.17Ad-22.
    \8\ 15 U.S.C. 78q-1(b)(3)(F).
    \9\ 17 CFR 240.17Ad-22(e)(3)(ii).
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    The amendments to the Recovery Plan and Wind-Down Plan are designed
to update certain provisions relating to treasury arrangements of the
Clearing House, principally to address changes in treasury service
providers (such as custody banks, settlement banks and investment
agents) currently referred to in the plans. The changes will also
facilitate keeping the Recovery and Wind-Down Plan up to date as
certain treasury service providers change from time to time, and
facilitate use by the Clearing House of additional service providers to
manage risks from treasury operations. The amendments do not otherwise
affect the substantive provisions and procedures detailed in the
Recovery Plan or the Wind-Down Plan for addressing recovery or wind-
down as a result of credit losses, liquidity shortfalls, losses from
general business risk or other losses, including the triggers for
invoking recovery or wind-down procedures. The amendments also do not
affect the recovery and wind-down tools and options available to the
Clearing House to address severe loss events, or the planned sequence
or scope of recovery or wind-down actions that ICE Clear Europe may
take in a loss scenario. As a result, in ICE Clear Europe's view, the
amended Recovery Plan and Wind-Down Plan will continue to satisfy the
requirements of Section 17A(b)(3)(F) of the Act \10\ and Rule 17Ad-
22(e)(3)(ii).\11\ In addition, ICE Clear Europe does not believe the
amendments will affect the costs of recovery or wind-down, and
therefore is of the view that its equity capital remains sufficient to
satisfy the requirements of Rule 17Ad-22(e)(15) under the revised
plans.\12\
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    \10\ 15 U.S.C. 78q-1(b)(3)(F).
    \11\ 17 CFR 270.17Ad-22(e)(3)(ii).
    \12\ 17 CFR 270.17Ad-22(e)(15). Rule 17Ad-22(e)(15) requires the
covered clearing agency to hold sufficient liquid net assets funded
by equity to cover potential general business losses so that the
covered clearing agency can continue operations and services as a
going concern if those losses materialize, including by (i)
determining the amount of liquid net assets funded by equity based
upon its general business risk profile and the length of time
required to achieve a recovery or orderly wind-down, as appropriate,
of its critical operations and services if such action is taken, and
(ii) holding liquid net assets funded by equity equal to the greater
of either (x) six months of the covered clearing agency's current
operating expenses, or (y) the amount determined by the board of
directors to be sufficient to ensure a recovery or orderly wind-down
of critical operations and services of the covered clearing agency,
as contemplated by the recovery and wind-down plans established
under Rule 17Ad-22(e)(3)(ii).
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(B) Clearing Agency's Statement on Burden on Competition

    ICE Clear Europe does not believe the proposed amendments would
have any impact, or impose any burden, on competition not necessary or
appropriate in furtherance of the purposes of the Act. The amendments
update certain provisions relating to service providers for Clearing
House treasury operations, and do not otherwise change the substantive
provisions of the Recovery Plan or the Wind-Down Plan. The amendments
do not change the rights or obligations of

the Clearing House or Clearing Members under the Rules and Procedures.
As a result, ICE Clear Europe does not believe the amendments will
impact competition among Clearing Members or other market participants,
affect the cost of clearing or affect the ability of market
participants to access clearing generally.

(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants or Others

    Written comments relating to the proposed amendments have not been
solicited or received by ICE Clear Europe. ICE Clear Europe will notify
the Commission of any comments received with respect to the proposed
rule change.

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

    Because the foregoing proposed rule change does not:
    (i) Significantly affect the protection of investors or the public
interest;
    (ii) impose any significant burden on competition; and
    (iii) become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, it has
become effective pursuant to Section 19(b)(3)(A)(iii) of the Act \13\
and Rule 19b-4(f)(6) thereunder.\14\
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    \13\ 15 U.S.C. 78s19(b)(3)(A)(iii).
    \14\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
ICE Clear Europe has satisfied this requirement.
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.

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 protected]. Please include
File Number SR-ICEEU-2018-014 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-ICEEU-2018-014. 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 website (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 website viewing and printing in
the Commission's Public Reference Section, 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 filings will also be available for inspection
and copying at the principal office of ICE Clear Europe and on ICE
Clear Europe's website at https://www.theice.com/notices/Notices.shtml?regulatoryFilings. All comments received will be posted
without change. Persons submitting comments are cautioned that we do
not redact or edit personal identifying information from comment
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number SR-
ICEEU-2018-014 and should be submitted on or before November 23, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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    \15\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-23968 Filed 11-1-18; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: April 6, 2009 (Volume 74, Number 64)]
[Notices]
[Page 15474-15475]
[DOCID:fr06ap09-61]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. IC09-915-000]

Commission Information Collection Activities (FERC-915); Comment
Request; Extension

March 30, 2009.
AGENCY: Federal Energy Regulatory Commission.

ACTION: Notice of proposed information collection and request for
comments.

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SUMMARY: In compliance with the requirements of section 3506(c)(2)(a)
of the Paperwork Reduction Act of 1995 (Pub. L. 104-13), the Federal
Energy Regulatory Commission (Commission or FERC) is soliciting public
comment on the specific aspects of the information collection described
below.

DATES: Comments in consideration of the collection of information are
due June 1, 2009.

ADDRESSES: Comments may be filed either electronically or in paper
format, and should refer to Docket No. IC09-915-000. Documents must be
prepared in an acceptable filing format and in compliance with the
Federal Energy Regulatory Commission submission guidelines at http://
www.ferc.gov/help/submission-guide.asp.
    Comments may be eFiled. The eFiling option, under the Documents &
Filings tab on the Commission's home Web page (http://www.ferc.gov),
directs users to the eFiling Web page. First-time users follow the
eRegister instructions on the eFiling Web page to establish a user name
and password before eFiling. Filers will receive an e-mailed
confirmation of their filed comments. Commenters filing electronically
should not make a paper filing. If electronic filing is not possible,
deliver original and 14 paper copies of the filing to: Federal Energy
Regulatory Commission, Secretary of the Commission, 888 First Street,
NE., Washington, DC 20426.
    Parties interested in receiving automatic notification of activity
in this docket may do so through eSubscription. The eSubscription
option under the Documents & Filings tab on the Commission's home Web
page directs users to the eSubscription Web page. Users submit the
docket numbers of the filings they wish to track and will subsequently
receive an e-mail notification each time a filing is made under the
submitted docket numbers. First-time users will need to establish a
user name and password before eSubscribing.
    Filed comments and FERC issuances may be viewed, printed and
downloaded remotely from the Commission's Web site. The eLibrary link
found at the top of most of the Commission's Web pages directs users to
FERC's eLibrary. From the eLibrary Web page, choose General Search, and
in the Docket Number space provided, enter IC09-915, then click the
Submit button at the bottom of the page. For help with any of the
Commission's electronic submission or retrieval systems, e-mail FERC
Online Support<EMAIL_ADDRESS>or telephone toll-free:
(866) 208-3676 (TTY<PHONE_NUMBER>).

FOR FURTHER INFORMATION CONTACT: Ellen Brown may be reached by
telephone at<PHONE_NUMBER>, by fax at<PHONE_NUMBER>, and by e-mail at
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: FERC is requesting comments on the record
retention requirement FERC-915,\1\ ``Public Utility Market-Based Rate
Authorization Holders--Records Retention Requirement,'' OMB Control No.
1902-0223.
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    \1\ The FERC-915 requirements (formerly labeled ``FERC-
915(516)'') are contained in 18 CFR 35.41(d)).
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    In accordance with the Federal Power Act, the Department of Energy
Organization Act (DOE Act), and the Energy Policy Act of 2005 (EPAct
2005), the Commission regulates the transmission and wholesale sales of
electricity in interstate commerce, monitors and investigates energy
markets, uses civil penalties and other means against energy
organizations and individuals who violate FERC rules in the energy
markets, and administers accounting and financial reporting regulations
and oversees conduct of regulated companies.
    The Commission imposes the FERC-915 record retention requirement,
in 18 CFR 35.41(d), on applicable sellers to retain, for a period of
five years, all data and information upon which they bill the prices
charged for ``electric energy or electric energy products it sold
pursuant to Seller's market-based rate tariff, and the prices it
reported for use in price indices.''
    The record retention period of five years is necessary due to the
importance of records related to any investigation of possible
wrongdoing and related to assuring compliance with the codes of conduct
and the integrity of the market. The requirement is necessary to ensure
consistency with the rule prohibiting market manipulation (adopted in
Order No. 670) and the generally applicable five-year statute of
limitations where the Commission seeks civil penalties for violations
of the anti-manipulation rules or other rules, regulations, or orders
to which the price data may be relevant.
    Action: The Commission is requesting a three-year extension of the
current expiration date for the FERC-915,\1\ with no changes to the
requirements.

    Burden Statement: Public reporting burden for this collection is
estimated at:

----------------------------------------------------------------------------------------------------------------
                                                 Number of        Number of     Average  burden
              FERC requirements                 respondents     responses per      hours per       Total annual
                                                  annually        respondent        response       burden hours
                                                         (1)              (2)              (3)   (1) x (2) x (3)
----------------------------------------------------------------------------------------------------------------
FERC-915....................................           1,150                1                1            1,150
----------------------------------------------------------------------------------------------------------------

    The estimated total annual cost to respondents includes hours for
labor (1,150 hrs. at $17 per hour, for a labor cost of $19,550) and
storage costs (using an estimated 65,000 cu. ft of records in off-site
storage, for a total storage cost of $419,858). The total annual cost
(labor plus off-site storage) is $439,408; the total annual cost per
respondent is $382.
    The reporting burden includes the total time, effort, or financial
resources expended to generate, maintain, retain, disclose, or provide
the information including: (1) Reviewing instructions; (2) developing,
acquiring, installing, and utilizing technology and systems for the
purposes of collecting, validating, verifying, processing, maintaining,
disclosing and providing information; (3) adjusting the existing ways
to comply with any previously applicable instructions and requirements;
(4) training personnel to respond to a collection of information; (5)
searching data sources; (6) completing and reviewing the collection of
information; and (7) transmitting, or otherwise disclosing the
information.
    The estimate of cost for respondents is based upon salaries for
professional and clerical support, as well as direct and indirect
overhead costs. Direct costs include all costs directly attributable to
providing this information, such as administrative costs and the cost
for information technology. Indirect or overhead costs are costs
incurred by an organization in support of its mission. These costs
apply to activities which benefit the whole organization rather than
any one particular function or activity.
    Comments are invited on: (1) Whether the proposed collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information will have practical
utility; (2) the accuracy of the agency's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility and clarity of the information to be collected; and (4) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of appropriate automated, electronic,
mechanical, or other technological collection techniques or other forms
of information technology, e.g., permitting electronic submission of
responses.

Kimberly D. Bose,
Secretary.
[FR Doc. E9-7575 Filed 4-3-09; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 77, Number 153 (Wednesday, August 8, 2012)]
[Rules and Regulations]
[Page 47282]
[FR Doc No: 2012-19393]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 117

[Docket No. USCG-2012-0708]

Drawbridge Operation Regulation; Lewis and Clark River, Astoria,
OR

AGENCY: Coast Guard, DHS.

ACTION: Notice of temporary deviation from regulations.

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SUMMARY: The Coast Guard has issued a temporary deviation from the
operating schedule that governs the Lewis and Clark Bridge which
crosses the Lewis and Clark River, mile 1.0, at Astoria, OR. This
deviation is necessary to accommodate major roadway maintenance on the
bridge. This deviation allows the bridge to remain in the closed
position to allow milling and repaving of the roadway surface on the
lift span.

DATES: This deviation is effective from 7 a.m. on August 29, 2012
through 5 p.m. August 30, 2012.

ADDRESSES: Documents mentioned in this preamble as being available in
the docket are part of docket USCG-2012-0708 and are available online
by going to http://www.regulations.gov, inserting USCG-2012-0708 in the
``Keyword'' box and then clicking ``Search''. They are also available
for inspection or copying at the Docket Management Facility (M-30),
U.S. Department of Transportation, West Building Ground Floor, Room
W12-140, 1200 New Jersey Avenue SE., Washington, DC 20590, between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: If you have questions on this rule,
call or email the Bridge Administrator, Coast Guard Thirteenth
District; telephone<PHONE_NUMBER> email<EMAIL_ADDRESS>If
you have questions on viewing the docket, call Renee V. Wright, Program
Manager, Docket Operations, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The Oregon Department of Transportation has
requested that the Lewis and Clark Drawbridge, mile 1.0, remain closed
to vessel traffic to facilitate the milling and repaving of the roadway
surface on the lift span. The bridge provides a vertical clearance of
25 feet above mean high water when in the closed position. Vessels that
do not require a bridge opening to safely pass beneath the bridge may
continue to do so during this closure period. Under normal operations
this bridge opens on signal with advance notification as required by 33
CFR 117.899(c). This deviation allows the Lewis and Clark Drawbridge
across the Lewis and Clark River in Astoria, OR to remain in the closed
position and need not open for maritime traffic from 7 a.m. August 29,
2012 through 5 p.m. on August 30, 2012. The bridge shall operate in
accordance to 33 CFR 117.899(c) at all other times. Waterway usage on
the Lewis and Clark River is primarily recreational boaters. Mariners
will be notified and kept informed of the bridge's operational status
via the Coast Guard Notice to Mariners publication and Broadcast Notice
to Mariners as appropriate. The draw span will be required to open, if
needed, for vessels engaged in emergency response operations during
this closure period.
    In accordance with 33 CFR 117.35(e), the drawbridge must return to
its regular operating schedule immediately at the end of the designated
time period. This deviation from the operating regulations is
authorized under 33 CFR 117.35.

    Dated: July 27, 2012.
Randall D. Overton,
Bridge Administrator.
[FR Doc. 2012-19393 Filed 8-7-12; 8:45 am]
BILLING CODE 9110-04-P