[Federal Register Volume 87, Number 249 (Thursday, December 29, 2022)]
[Notices]
[Pages 80219-80225]
[FR Doc No: 2022-28304]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96575; File No. SR-FICC-2022-009]

Self-Regulatory Organizations; Fixed Income Clearing Corporation;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Certain MBSD Fees

December 22, 2022.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934

(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on December 20, 2022, Fixed Income Clearing Corporation (``FICC'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II and III below, which
Items have been prepared by the clearing agency. FICC filed the
proposed rule change pursuant to Section 19(b)(3)(A) of the Act \3\ and
Rule 19b-4(f)(2) thereunder.\4\ 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)(2).
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    The proposed rule change consists of modifications to FICC's
Mortgage-Backed Securities Division (``MBSD'') Clearing Rules (``MBSD
Rules'') and the MBSD EPN Rules (``EPN Rules'' and together with the
MBSD Rules, the ``Rules'') in order to amend (i) certain Trade Creates
and Trade Processing fees, (ii) the DNA Request fee, (iii) the Matched
Pool Instruct fee, (iv) an Account Maintenance fee, and (v) the Message
Processing fees, as described further below.\5\
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    \5\ Capitalized terms not otherwise defined herein are defined
in the MBSD Rules and the EPN Rules, as applicable, available at
http://www.dtcc.com/legal/rules-and-procedures.
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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, the clearing agency 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. The clearing agency 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

1. Purpose
    FICC is proposing to amend the MBSD Rules and the EPN Rules in
order to amend (i) certain Trade Creates and Trade Processing fees;
(ii) the DNA Request fee, (iii) the Matched Pool Instruct fee, (iv) an
Account Maintenance fee, and (v) the Message Processing fees, as
described in greater detail below.
    FICC operates a cost plus low-margin pricing model and has in place
procedures to control costs and to regularly review pricing levels
against costs of operation. FICC reviews pricing levels against its
costs of operation typically during the annual budget process. The
budget is approved annually by the Board. FICC's fees are cost-based
plus a markup as approved by the Board or management (pursuant to
authority delegated by the Board), as applicable. This markup or ``low
margin'' is applied to recover development costs and operating expenses
and to accumulate capital sufficient to meet regulatory and economic
requirements.
    FICC expects the rising interest rate environment to be a long-term
structural change which will continue to negatively impact MBSD
revenue. Specifically, as a result of the rising interest rate
environment, FICC expects the decrease in transaction volumes for MBSD,
and therefore, the decrease in revenues for MBSD, to continue in 2023.
FICC expects inflationary pressures, and technology and infrastructure
investments related to IT risk mitigation and resiliency initiatives to
contribute to costs in 2023. While overall costs in 2023 are expected
to be lower than forecasted for 2022, FICC believes the proposed
increases in fees, as further described below, would enable FICC to
offset the above-described expected decrease in MBSD revenue due to the
expected decrease in transaction volumes for MBSD because of rising
interest rate environment and would enable FICC to generate sufficient
revenues to cover its operating costs plus generate a low net income
margin (i.e., to be consistent with its pricing model). The net income
margin forecasted for 2022 is lower than the net income margin range
that FICC typically aims to achieve. Transaction volumes for MBSD were
lower than expected in 2022 and as such, revenues for MBSD were lower
than expected in 2022 while technology and infrastructure investments
contributed to increased costs in 2022. As described above, FICC
believes that the rising interest rate environment is a long-term
structural change, which will continue to negatively impact revenues
for MBSD in 2023. As such, the proposed increases in fees described in
detail below are necessary to enable FICC to cover operating costs
while generating a low net income margin. Specifically, these proposed
fee increases would enable FICC to generate a low net income margin
that would be in a range that FICC typically aims to achieve. As
described above, this low margin is applied to recover development
costs and operating expenses and to accumulate capital sufficient to
meet regulatory and economic requirements.
(i) Certain Trade Creates and Trade Processing Fees
(a) Trade Creates Fees
    A trade create is a type of transaction used to identify the
submission and/or subsequent processing of trades as opposed to cancels
or notifications.
Current Fees
    In the MBSD Rules Schedule of Charges Broker Account Group and the
MBSD Rules Schedule of Charges Dealer Account Group, there are fees for
Trade Creates relating to Trade Processing. In the MBSD Rules Schedule
of Charges Dealer Account Group, there are also fees for (i) Trade
Creates relating to Trade-for-Trade Transactions, Specified Pool
Trades, and Stipulated Trades, and (ii) Trade Creates relating to
Options Trades.
    The current fee charged to brokers in the MBSD Rules Schedule of
Charges Broker Account Group for Trade Creates relating to Trade
Processing is $0.20/side.
    In the MBSD Rules Schedule of Charges Dealer Account Group, the
current fee for Trade Creates relating to Trade Processing are as
follows: \6\
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    \6\ Certain fees are based on the par value per million per
month (``MM'').

------------------------------------------------------------------------
                                                            Current fee
            Total par amount traded per month               (par value
                                                          Millions/Mon.)
------------------------------------------------------------------------
01-2,500,000,000........................................           $2.00
2,500,000,001-7,500,000,000.............................            1.58
7,500,000,001-12,500,000,000............................            1.39
12,500,000,001-300,000,000,000..........................            1.19

300,000,000,001 and over................................            1.16
------------------------------------------------------------------------

    In the MBSD Rules Schedule of Charges Dealer Account Group, the
current fees for (i) Trade Creates relating to Trade-for-Trade
Transactions, Specified Pool Trades, and Stipulated Trades is $1.16/MM
and (ii) Trade Creates relating to Option Trades is $1.00/MM.
Proposed Changes
    In the MBSD Rules Schedule of Charges Broker Account Group, FICC is
proposing to revise the fee for Trade Creates relating to Trade
Processing from $0.20/side to $.40/side.
    In the MSBD Rules Schedule of Charges Dealer Account Group, FICC is
proposing to revise the fee for Trade Creates relating to Trade
Processing as follows:

------------------------------------------------------------------------
                                                             Proposed
                                            Current fee     changes to
    Total par amount traded per month       (par value       fees (par
                                          Millions/Mon.)  value Millions/
                                                               Mon.)
------------------------------------------------------------------------
01-2,500,000,000........................            2.00            2.36
2,500,000,001-7,500,000,000.............            1.58            1.86
7,500,000,001-12,500,000,000............            1.39            1.64
12,500,000,001-300,000,000,000..........            1.19            1.40
300,000,000,001 and over................            1.16            1.37
------------------------------------------------------------------------

    In addition, in the MBSD Rules Schedule of Charges Dealer Account
Group, FICC is proposing to revise the fees for (i) Trade Creates
relating to Trade-for-Trade Transactions, Specified Pool Trades, and
Stipulated Trades from $1.16/MM to $1.37/MM, and (ii) Trade Creates
relating to Options Trades from $1.00/MM to $1.18/MM.
    FICC believes that the proposed increases to the above-described
fees for Trade Creates would be consistent with FICC's cost plus low-
margin pricing model and would enable FICC to offset the expected
decrease in MBSD revenue. As described above, FICC regularly reviews
pricing levels against its costs of operation typically during the
annual budget process. FICC determined during the 2023 annual budget
process that the proposed increase in the above-described fees for
Trade Creates would help better align costs to revenue and generate
sufficient revenues to cover its operating costs plus generate a low
net income margin (i.e., to be consistent with its cost plus low-margin
pricing model). As described above, due to the rising interest rate
environment, FICC anticipates that transaction volumes will continue to
decrease, and therefore, MBSD revenue will also continue to decrease in
2023. As such, FICC believes the proposed increases to the above-
described fees for Trade Creates would enable FICC to offset the
expected decrease in MBSD revenue, and enable FICC to continue to
generate sufficient revenues to cover its operating costs plus generate
a low net income margin.
(b) TBA Netting Balance Order (SBON)
    In the Trade Processing section of the Schedule of Charges Dealer
Account Group in the MBSD Rules, there is also a TBA Netting Balance
Order (SBON) fee of $1.00/MM.\7\ The TBA Netting Balance Order (SBON)
fee is the fee for SBON Trades that are generated from the TBA Netting
System.\8\ Pursuant to MBSD Rule 6, Section 1, each Clearing Member's
SBO-Destined Trades in each Account in the TBA Netting System (other
than SBO-Destined Trades that have been converted to Trade-for-Trade
Transactions as provided in the MBSD Rules) will be netted by CUSIP on
a monthly basis, and the TBA Netting System will generate SBON
Trades.\9\
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    \7\ The term ``TBA'' or ``To-Be-Announced'' means a contract for
the purchase or sale of a mortgage-backed security to be delivered
at an agreed-upon future date because as of the transaction date,
the seller has not yet identified certain terms of the contract,
such as the pool number and number of pools, to the buyer. MBSD Rule
1, supra note 5.
    \8\ The term ``SBO'' means the settlement balance orders that
constitute the net positions of a Clearing Member as a result of the
TBA Netting process. The resulting transactions from this TBA
Netting process are identified as SBON Trades. MBSD Rule 1, supra
note 5.
    \9\ Supra note 5.
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    FICC is proposing to revise this trade processing fee from $1.00/MM
to $1.20/MM.
    FICC believes that this proposed increase in the TBA Netting
Balance Order (SBON) fee would be consistent with FICC's cost plus low-
margin pricing model and enable FICC to offset the expected decrease in
MBSD revenue. As described above, FICC regularly reviews pricing levels
against its costs of operation typically during the annual budget
process. FICC determined during the 2023 annual budget process that the
proposed increase in the TBA Netting Balance Order (SBON) fee would
help better align costs to revenue and generate sufficient revenues to
cover its operating costs plus generate a low net income margin (i.e.,
to be consistent with its cost plus low-margin pricing model). As
described above, due to the rising interest rate environment, FICC
anticipates that transaction volumes for MBSD will continue to
decrease, and therefore, MBSD revenue will also continue to decrease in
2023. As such, FICC believes the proposed increase in the TBA Netting
Balance Order (SBON) fee would enable FICC to offset the expected
decrease in MBSD revenue, and enable FICC to continue to generate
sufficient revenues to cover its operating costs plus generate a low
net income margin.
(ii) DNA Request Fee
    The Do Not Allocate (``DNA'') process is the process by which
Clearing Members that have two or more TBA Obligations with the same
Par Amount, CUSIP Number and established date in the settlement cycle,
may offset such transactions against one another.\10\ In order to
initiate the offset, Clearing Members are required to submit a request
(``DNA Request'') to MBSD. Upon FICC's receipt and verification of this
request, the Clearing Member's designated TBA Obligations will be

offset, and as a result, a Clearing Member's overall number of open TBA
Obligations will be reduced.\11\
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    \10\ MBSD Rule 7, Section 3, supra note 5.
    \11\ Id.
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    FICC charges a fee in connection with a Clearing Member's request
to include eligible trades in the above-described DNA process (such
request is referred to as a ``DNA Request''). Currently, in the MBSD
Rules Schedule of Charges Dealer Account Group, the DNA Request fee is
listed as $1.25/MM.
    FICC is proposing to revise this DNA Request fee from $1.25/MM to
$1.50/MM.
    FICC believes that this proposed increase in the DNA Request fee
would be consistent with FICC's cost plus low-margin pricing model and
enable FICC to offset the expected decrease in MBSD revenues. As
described above, FICC regularly reviews pricing levels against its
costs of operation typically during the annual budget process. FICC
determined during the 2023 annual budget process that the proposed
increase in the DNA Request fee would help better align costs to
revenue and enable FICC to generate sufficient revenue to cover its
operating costs plus generate a low net income margin (i.e., to be
consistent with its cost plus low-margin pricing model). As described
above, due to the rising interest rate environment, FICC anticipates
that transaction volumes for MBSD will continue to decrease, and
therefore, MBSD revenue will also continue to decrease in 2023. As
such, FICC believes the proposed increase in the DNA Request fee would
enable FICC to offset the expected decrease in MBSD revenue, and enable
FICC to continue to generate sufficient revenues to cover its operating
costs plus generate a low net income margin.
(iii) Matched Pool Instruct Fee
    Pursuant to MBSD Rule 8, Section 1, Pool Netting is a system for
aggregating and matching offsetting allocated pools submitted by
Clearing Members to satisfy: (i) settlement obligations associated with
Trade-for-Trade Transactions and (ii) settlement obligations resulting
from the TBA Netting system. Each Business Day, FICC will calculate and
report to each Clearing Member each Pool Net Settlement Position of
such Member. With respect to each such Pool Net Settlement Position,
FICC will report to the Member the extent to which the Member is
obligated to deliver Eligible Securities to FICC and/or to receive
Eligible Securities from FICC in accordance with each such Pool Net
Settlement Position.\12\
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    \12\ MBSD Rule 8, supra note 5.
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    In the Pool Netting fees section of the MBSD Rules Schedule of
Charges Dealer Account Group, there is a fee for Matched Pool Instructs
of $1.00 per side. The fee for Matched Pool Instructs is the fee for
pools that are submitted into Pool Netting.
    FICC is proposing to increase this fee for Matched Pool Instructs
from $1.00 per side to $1.20 per side.
    FICC believes that this proposed increase in the Matched Pool
Instruct fee would be consistent with FICC's cost plus low-margin
pricing model and enable FICC to offset the expected decrease in MBSD
revenue. As described above, FICC regularly reviews pricing levels
against its costs of operation typically during the annual budget
process. FICC determined during the 2023 annual budget process that the
proposed increase in the Matched Pool Instruct fee would help better
align costs to revenue and enable FICC to generate sufficient revenue
to cover its operating costs plus generate a low net income margin
(i.e., to be consistent with its cost plus low-margin pricing model).
As described above, due to the rising interest rate environment, FICC
anticipates that transaction volumes for MBSD will continue to
decrease, and therefore, MBSD revenue will also continue to decrease in
2023. As such, FICC believes the proposed increase in the Matched Pool
Instruct fee would enable FICC to offset the expected decrease in MBSD
revenue, and enable FICC to continue to generate sufficient revenues to
cover its operating costs plus generate a low net income margin.
(iv) Account Maintenance Fee
    In the Account Maintenance fees section of the EPN Service Schedule
of Charges in the EPN Rules, the current fee for Direct Accounts is
$1,000.00 per month (per account). FICC is proposing to revise this
Account Maintenance fee for Direct Accounts from $1,000.00 per month
(per account) to $1,200.00 per month (per account). FICC has not
increased the Account Maintenance fee for Direct Accounts since
2014.\13\
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    \13\ See Securities Exchange Act Release No. 72305 (June 4,
2014), 79 FR 33244 (June 10, 2014) (SR-FICC-2014-03).
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    FICC believes that this proposed increase in the Account
Maintenance fee for Direct Accounts would be consistent with FICC's
cost plus low-margin pricing model and enable FICC to offset the
expected decrease in MBSD revenue. As described above, FICC regularly
reviews pricing levels against its costs of operation typically during
the annual budget process. FICC determined during the 2023 annual
budget process that the proposed increase in the Account Maintenance
fee would help better align costs to revenue and enable FICC to
generate sufficient revenue to cover its operating costs plus generate
a low net income margin (i.e., to be consistent with its cost plus low-
margin pricing model). As described above, FICC has not increased the
Account Maintenance fee for Direct Accounts since 2014, and this
proposed increase would enable FICC to offset the expected decrease in
MBSD revenue, and enable FICC to continue to generate sufficient
revenues to cover its operating costs plus generate a low net income
margin.\14\
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    \14\ Id.
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(v) Message Processing Fees
    FICC's electronic pool notification service (the ``EPN Service'')
provides Clearing Members and EPN Users with the ability to
electronically communicate pool information to other EPN Users or FICC.
    In connection with the EPN Service, certain message processing fees
are charged. Specifically, there are fees for the following EPN message
types: (i) Notification Send, (ii) Notification Receive, (iii) Pool
Substitution Cancel/Correct. The Notification Send fee is a fee for
sending an EPN message type that provides MBS pool information and the
Notification Receive fee is the fee for receiving an EPN message type
that contains MBS pool information. Pool Substitution Cancel/Correct is
an EPN message type that supports the simultaneous ``cancel'' of
previously allocated pools and the ``correct'' notification of
substituted pools; this EPN message type provides Clearing Members and
EPN Users with a method of transmitting pool substitutions to their
allocation counterparties. FICC charges a fee for this EPN message
type.
    FICC is also proposing to amend the ``Message Processing Fees'' in
the EPN Service Schedule of Charges in the EPN Rules as described
below:

------------------------------------------------------------------------
                                                     Proposed changes to
   Message processing fees        Current fees              fees
------------------------------------------------------------------------
ON Send:
    Opening of Business to    $.19/million Current  $.20/million Current
     1:00 p.m.                 Face.                 Face.
    1:00 p.m. to 2:00 p.m...  $.95/million Current  $1.00/million
                               Face.                 Current Face.
    2:00 p.m. to 3:00 p.m...  $1.90/million         $2.00/million
                               Current Face.         Current Face.
    3:00 p.m. to Close of     $1.58/million         $1.67/million
     Business.                 Current Face.         Current Face.
ON Receive:
    Opening of Business to    $.51/million Current  $.54/million Current
     1:00 p.m.                 Face.                 Face.
    1:00 p.m. to 2:00 p.m...  $.26/million Current  $.28/million Current
                               Face.                 Face.
    2:00 p.m. to 3:00 p.m...  $.26/million Current  $.28/million Current
                               Face.                 Face.
Pool Substitution Cancel/
 Correct
Cancel/Correct Send:
    Open of Business up to    $0.19/million         $0.20/million
     11:00 a.m.                Current Face.         Current Face.
    11:00 a.m. up to 12:00    $0.95/million         $1.00/million
     p.m.                      Current Face.         Current Face.
    12:00 p.m. up to 12:15    $1.90/million         $2.00/million
     p.m.                      Current Face.         Current Face.
    12:15 p.m. to End of Day  $0.19/million         $0.20/million
                               Current Face.         Current Face.
------------------------------------------------------------------------

    FICC believes that the proposed increases in the above-described
Message Processing fees would be consistent with FICC's cost plus low-
margin pricing model and enable FICC to offset the expected decrease in
MBSD revenue. As described above, FICC regularly reviews pricing levels
against its costs of operation typically during the annual budget
process. FICC determined during the 2023 annual budget process that the
proposed increases in the Message Processing fees would help better
align costs to revenue and enable FICC to generate sufficient revenue
to cover its operating costs plus generate a low net income margin
(i.e., to be consistent with its cost plus low-margin pricing model).
As described above, due to the rising interest rate environment, FICC
anticipates that transaction volumes for MBSD will continue to
decrease, and therefore, MBSD revenue will also continue to decrease in
2023. As such, FICC believes the proposed increases in the Message
Processing fees would enable FICC to offset the expected decrease in
MBSD revenue, and enable FICC to continue to generate sufficient
revenues to cover its operating costs plus generate a low net income
margin.
(vi) Expected Member Impact
    The proposed rule change is expected to increase FICC's annual
revenue by approximately $16.5 million.
    In general, FICC anticipates that the proposal would result in fee
increases for all MBSD Clearing Members and EPN Users. FICC anticipates
that the proposal would result in a fee increase of (i) less than
$10,000 per year for approximately 53% of impacted affiliated MBSD
Clearing Members and EPN Users, (ii) between $10,000 and $100,000 for
approximately 30% of impacted affiliated MSBD Clearing Members and EPN
Users, and (iii) more than $100,000 for approximately 17% of impacted
affiliated MBSD Clearing Members and EPN Users.
(vii) Member Outreach
    FICC has conducted ongoing outreach to each Clearing Member and EPN
User in order to provide them with notice of the proposed changes and
the anticipated impact for the Clearing Members and EPN Users. As of
the date of this filing, no written comments relating to the proposed
changes have been received in response to this outreach. The Commission
will be notified of any written comments received.
Implementation Timeframe
    FICC would implement this proposal on January 1, 2023. As proposed,
a legend would be added to the Schedule of Charges Broker Account Group
in the MBSD Rules, the Schedule of Charges Dealer Account Group in the
MBSD Rules, and the EPN Service Schedule of Charges in the EPN Rules,
as appropriate, stating there are changes that became effective upon
filing with the Commission but have not yet been implemented. The
proposed legend would include the date on which such changes would be
implemented and the file number of this proposal, and state that once
this proposal is implemented, the legend would automatically be
removed.
2. Statutory Basis
    Section 17A(b)(3)(D) of the Act requires that the rules of a
clearing agency, such as FICC, provide for the equitable allocation of
reasonable dues, fees, and other charges among its participants.\15\
FICC believes that the proposed changes to increase (i) certain Trade
Creates and Trade Processing fees, (ii) the DNA Request fee, (iii) the
Matched Pool Instruct fee, (iv) an Account Maintenance fee, and (v) the
Message Processing fees are consistent with this provision of the
Act.\16\
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    \15\ 15 U.S.C. 78q-1(b)(3)(D).
    \16\ Id.
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    FICC believes the proposed changes to increase (i) certain Trade
Creates and Trade Processing fees, (ii) the DNA Request fee, (iii) the
Matched Pool Instruct Fee, and (iv) the Message Processing fees, as
described above, are consistent with Section 17A(b)(3)(D).\17\ The
proposal would provide for the equitable allocation of fees among
participants because the proposal would apply to all participants, such
that all Clearing Members and EPN Users, as applicable, would be
subject to these proposed increases in these fees following the
implementation of the proposed changes. The above-described fees are
and would continue to be charged to all Clearing Members and EPN Users,
as applicable, and are and would continue to be based on each Clearing
Member's and each EPN User's utilization of MBSD's services.
Specifically, each Clearing Member and EPN User would be charged based
on the volume of transactions and/or messages submitted to MBSD.
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    \17\ 15 U.S.C. 78q-1(b)(3)(D).
---------------------------------------------------------------------------

    Similarly, FICC believes the above-described (i) Trade Create and
Trade Processing fees, (ii) DNA Request fee, (iii) Matched Pool
Instruct Fee, and (iv) Message Processing fees would continue to be
reasonable fees under the proposed changes described above. The
proposed changes to increase (i) certain Trade Creates and Trade
Processing fees, (ii) the DNA Request fee, (iii) the Matched Pool
Instruct Fee, and (iv) the Message Processing fees, as described above,
would be consistent with FICC's cost plus low-margin pricing model.
With the proposed changes to these fees, FICC believes it would still
be able to continue to generate sufficient revenues to cover its
operating costs plus generate a low net income margin. Furthermore, the
proposed changes to these fees

would enable FICC to offset the expected decrease in MBSD revenue
attributed to the long-term structural change due to the rising
interest rate environment. As described above, FICC expects the rising
interest rate environment to be a long-term structural change which
will continue to negatively impact MBSD revenue. Specifically, as a
result of the rising interest rate market, FICC expects the decrease in
transaction volumes for MBSD, and therefore, the decrease in revenues
for MBSD, to continue in 2023. As such, FICC believes the proposed
changes to increase (i) certain Trade Creates and Trade Processing
fees, (ii) the DNA Request fee, (iii) the Matched Pool Instruct Fee,
and (iv) the Message Processing fees would enable FICC to offset the
above-described expected decrease in MBSD revenue due to the expected
decrease in transaction volumes for MBSD because of rising interest
rate environment.
    FICC also believes the proposed change to increase the Account
Maintenance fee for Direct Accounts is consistent with Section
17A(b)(3)(D) of the Act.\18\ The proposal would provide for the
equitable allocation of fees among participants because the proposal
would apply to all participants, such that all Clearing Members and EPN
Users with Direct Accounts would be subject to the proposed increase in
the Account Maintenance fee for Direct Accounts.
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78q-1(b)(3)(D).
---------------------------------------------------------------------------

    In addition, FICC believes the Account Maintenance fee for Direct
Accounts would continue to be a reasonable fee under the proposed
change described above. The proposed change to increase the Account
Maintenance fee for Direct Accounts would be consistent with FICC's
cost plus low-margin pricing model, and as described above, FICC has
not increased this fee since 2014. With the proposed change to this
fee, FICC believes it would still be able to continue to generate
sufficient revenues to cover its operating costs plus generate a low
net income margin. FICC believes the proposed increase in the Account
Maintenance fee for Direct Accounts would enable FICC to offset the
expected decrease in MBSD revenue due to the expected decrease in
transaction volumes for MBSD because of the rising interest rate
environment.
    Based on the foregoing, FICC believes the proposed rule change is
consistent with Section 17A(b)(3)(D) of the Act.\19\
---------------------------------------------------------------------------

    \19\ Id.
---------------------------------------------------------------------------

(B) Clearing Agency's Statement on Burden on Competition

    FICC believes that the proposed changes to increase (i) certain
Trade Creates and Trade Processing fees, (ii) the DNA Request fee,
(iii) the Matched Pool Instruct fee, (iv) an Account Maintenance fee,
and (v) the Message Processing fees may impose a burden on competition.
However, FICC believes any burden on competition that may result from
the proposed fee increases would be necessary and appropriate in
furtherance of the purposes of the Act, as permitted by Section
17A(b)(3)(I) of the Act.\20\
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    \20\ 15 U.S.C. 78q-1(b)(3)(I).
---------------------------------------------------------------------------

    FICC believes the proposed changes to increase (i) certain Trade
Creates and Trade Processing fees, (ii) the DNA Request fee, (iii) the
Matched Pool Instruct fee, (iv) an Account Maintenance fee, and (v) the
Message Processing fees are necessary because these proposed fee
increases would provide FICC with the ability to achieve and maintain
its net income margin. In addition, FICC believes these proposed fee
increases are appropriate because these proposed fee increases would
enable FICC to offset the expected decrease in revenue in MBSD due to
the expected decrease in transaction volumes for MBSD because of the
rising interest rate environment (which FICC believes is a long-term
structural change).

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

    FICC reviewed the proposed rule change with Clearing Members and
EPN Users. FICC has not received any written comments relating to this
proposal. If any additional written comments are received, they will be
publicly filed as an Exhibit 2 to this filing, as required by Form 19b-
4 and the General Instructions thereto.
    Persons submitting comments are cautioned that, according to
Section IV (Solicitation of Comments) of the Exhibit 1A in the General
Instructions to Form 19b-4, the Commission does not edit personal
identifying information from comment submissions. Commenters should
submit only information that they wish to make available publicly,
including their name, email address, and any other identifying
information.
    All prospective commenters should follow the Commission's
instructions on how to submit comments, available at https://www.sec.gov/regulatory-actions/how-to-submit-comments. General
questions regarding the rule filing process or logistical questions
regarding this filing should be directed to the Main Office of the
SEC's Division of Trading and Markets at [email protected] or
202-551-5777.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) \21\ of the Act and paragraph (f) \22\ of Rule 19b-4
thereunder. 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.
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78s(b)(3)(A).
    \22\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------

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-FICC-2022-009 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-FICC-2022-009. 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 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 the filing also will be available
for inspection and copying at the principal office of FICC and on
DTCC's website (http://dtcc.com/legal/sec-rule-filings.aspx). 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-FICC-2022-009 and should be
submitted on or before January 19, 2023.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
---------------------------------------------------------------------------

    \23\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2022-28304 Filed 12-28-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 16 (Tuesday, January 26, 2016)]
[Notices]
[Page 4284]
[FR Doc No: 2016-01462]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER10-2331-051; ER14-630-026; ER10-2319-042; ER10-
2317-042; ER13-1351-024; ER10-2330-049.
    Applicants: J.P. Morgan Ventures Energy Corporation, AlphaGen Power
LLC, BE Alabama LLC, BE CA LLC, Florida Power Development LLC, Utility
Contract Funding, L.L.C.
    Description: Non-Material Change in Status of the J.P. Morgan
Sellers.
    Filed Date: 1/19/16.
    Accession Number: 20160119-5403.
    Comments Due: 5 p.m. ET 2/9/16.

    Docket Numbers: ER12-839-002; ER15-1657-002.
    Applicants: Entergy Rhode Island State Energy, L.P., SEPG Energy
Marketing Services, LLC.
    Description: Notice of Non-Material Change in Status of Entergy
Rhode Island State Energy, L.P., et al.
    Filed Date: 1/15/16.
    Accession Number: 20160115-5686.
    Comments Due: 5 p.m. ET 2/5/16.

    Docket Numbers: ER15-793-001.
    Applicants: Southern Indiana Gas and Electric Company.
    Description: Market-Based Triennial Review Filing: Supplement to
SIGECO/Vectren South Triennial MBR Update in ER15-793 to be effective
3/19/2016.
    Filed Date: 1/19/16.
    Accession Number: 20160119-5298.
    Comments Due: 5 p.m. ET 2/9/16.

    Docket Numbers: ER15-1862-000.
    Applicants: Tucson Electric Power Company.
    Description: Report Filing: Response to Deficiency Letter to be
effective N/A.
    Filed Date: 1/19/16.
    Accession Number: 20160119-5258.
    Comments Due: 5 p.m. ET 2/9/16.

    Docket Numbers: ER15-2256-001.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Compliance filing: 2016-01-19 Order 809 Compliance
Filing to be effective 11/5/2016.
    Filed Date: 1/19/16.
    Accession Number: 20160119-5274.
    Comments Due: 5 p.m. ET 2/9/16.

    Docket Numbers: ER15-2615-002.
    Applicants: Goodwell Wind Project, LLC.
    Description: Compliance filing: Goodwell Wind Project, LLC MBR
Tariff to be effective 10/1/2015.
    Filed Date: 1/19/16.
    Accession Number: 20160119-5339.
    Comments Due: 5 p.m. ET 2/9/16.

    Docket Numbers: ER16-139-001.
    Applicants: Southwest Power Pool, Inc.
    Description: Tariff Amendment: Deficiency Response in ER16-139--
Revisions to Attachment W to Update GFAs to be effective 1/1/2016.
    Filed Date: 1/19/16.
    Accession Number: 20160119-5272.
    Comments Due: 5 p.m. ET 2/9/16.

    Docket Numbers: ER16-745-000.
    Applicants: Duke Energy Carolinas, LLC.
    Description: Section 205(d) Rate Filing: NCEMC Energy Exchange
Agreement RS No. 347 to be effective 3/21/2016.
    Filed Date: 1/19/16.
    Accession Number: 20160119-5340.
    Comments Due: 5 p.m. ET 2/9/16.

    Docket Numbers: ER16-746-000.
    Applicants: Constellation Power Source Generation, LLC.
    Description: Section 205(d) Rate Filing: FERC Rate Schedule No. 2
to be effective 2/1/2016.
    Filed Date: 1/19/16.
    Accession Number: 20160119-5341.
    Comments Due: 5 p.m. ET 2/9/16.

    Docket Numbers: ER16-747-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Section 205(d) Rate Filing: Original Service Agreement
No. 4355; Queue Z2-011 (ISA) to be effective 12/21/2015.
    Filed Date: 1/20/16.
    Accession Number: 20160120-5005.
    Comments Due: 5 p.m. ET 2/10/16.

    Docket Numbers: ER16-748-000.
    Applicants: Sentinel Energy Center, LLC.
    Description: Section 205(d) Rate Filing: Notice of Succession to be
effective 12/21/2015.
    Filed Date: 1/20/16.
    Accession Number: 20160120-5016.
    Comments Due: 5 p.m. ET 2/10/16.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: January 20, 2016.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2016-01462 Filed 1-25-16; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register: October 31, 2007 (Volume 72, Number 210)]
[Rules and Regulations]
[Page 61528-61531]
[DOCID:fr31oc07-12]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R02-OAR-2007-0368, FRL-8478-5]

Approval and Promulgation of Implementation Plans; New York
Emission Statement Program

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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

SUMMARY: The Environmental Protection Agency (EPA) is approving the
State Implementation Plan (SIP) revision submitted by the State of New
York on July 7, 2006 for the purpose of enhancing an existing Emission
Statement Program for stationary sources in New York. The SIP revision
consists of amendments to Title 6 of the New York Codes Rules and
Regulations, Chapter III, Part 202, Subpart 202-2, Emission Statements.
The SIP revision was submitted by New York to satisfy the ozone
nonattainment provisions of the Clean Air Act. These provisions require
states in which all or part of any ozone nonattainment area is located
to submit a revision to its SIP which requires owner/operators of
stationary sources of volatile organic compounds (VOC) and oxides of
nitrogen (NOX) to provide the State with a statement, at
least annually, of the source's actual emissions of VOC and
NOX.
    The Emission Statement SIP revision EPA is approving enhances the
reporting requirements for VOC and NOX and expands the
reporting requirement, based on specified emission thresholds, to
include carbon monoxide (CO), sulfur dioxides (SO2),
particulate matter measuring 2.5 microns or less (PM2.5),
particulate matter measuring 10 microns or less (PM10),
ammonia (NH3), lead (Pb) and lead compounds and hazardous
air pollutants (HAPS). The intended effect is to obtain improved
emissions related data from facilities located in New York, allowing
New York to more effectively plan for and attain the national ambient
air quality standards (NAAQS). The Emission Statement rule also
improves EPA's and the public's access to facility-specific emission
related data.

DATES: Effective Date: This rule is effective on November 30, 2007.

ADDRESSES: EPA has established a docket for this action under Docket ID
No. EPA-R02-OAR-2007-0368. All documents in the docket are listed on
the http://www.regulations.gov Web site. Although listed in the index, some

information is not publicly available,

e.g., CBI or other information whose disclosure is restricted by
statute. Certain other material, such as copyrighted material, is not
placed on the Internet and will be publicly available only in hard copy
form. Publicly available docket materials are available either
electronically through http://www.regulations.gov or in hard copy at the

Environmental Protection Agency, Region II Office, Air Programs Branch,
290 Broadway, 25th Floor, New York, New York 10007-1866. This Docket
Facility is open from 8:30 a.m. to 4:30 p.m., Monday through Friday,
excluding legal holidays. The Docket telephone number is<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Raymond K. Forde, Air Programs Branch,
Environmental Protection Agency, 290 Broadway, 25th Floor, New York,
New York 10007-1866,<PHONE_NUMBER><EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:
    The following table of contents describes the format for this
section:
I. What Action Is EPA Taking?
II. What Comments Did EPA Receive in Response to Its Proposal?
III. What Role Does This Action Play in the Ozone SIP?
IV. What Are EPA's Conclusions?
V. Statutory and Executive Order Reviews

I. What Action Is EPA Taking?

    EPA is approving the State Implementation Plan (SIP) revision
submitted by the State of New York on July 7, 2006 for the purpose of
enhancing an existing Emission Statement program for stationary sources
in New York. The SIP revision consists of amendments to Title 6 of the
New York Codes Rules and Regulations (NYCRR), Chapter III, Part 202,
Subpart 202-2, Emission Statements (Emission Statement rule).
    The SIP revision was submitted by New York to satisfy the ozone
nonattainment provisions of the Clean Air Act. These provisions require
states in which all or part of any ozone non-attainment area is located
to submit a revision to its SIP which requires owner/operators of
stationary sources of volatile organic compounds (VOC) and oxides of
nitrogen (NOX) to provide the State with a statement, at
least annually, of the source's actual emissions of VOC and
NOX. On July 7, 2006, New York submitted a SIP revision for
ozone which included an adopted Emission Statement rule. The regulation
amends Title 6 of the NYCRR, Subpart 202-2, Emission Statements, which
was originally adopted on July 13, 2004. On April 12, 2005, the New
York State Department of Environmental Conservation (NYSDEC) adopted
these amendments, which became effective on May 29, 2005. The reader is
referred to the proposed rulemaking (July 20, 2007, 72 FR 39773) for
further details.

II. What Comments Did EPA Receive in Response to Its Proposal?

    EPA received no comments in response to the July 20, 2007 proposed
rulemaking action.

III. What Role Does This Action Play in the Ozone SIP?

Emission Statements (Annual Reporting of VOC and NOX)

    Section 182(a)(3)(B)(i) of the Act requires states in which all or
part of any ozone non-attainment area is located to submit SIP
revisions to EPA by November 15, 1992, which require owner/operators of
stationary sources of VOC and NOX to provide the state with
a statement, at least annually, of the source's actual emissions of VOC
and NOX. Sources were to submit the first emission
statements to their respective states by November 15, 1993. Pursuant to
the Emission Statement Guidance, if the source emits either VOC or
NOX at or above levels for which the State Emission
Statement rule requires reporting, the other pollutant (VOC or
NOX) from the same facility should be included in the
emission statement, even if the pollutant is emitted at levels below
the minimum reporting level.
    Section 182(a)(3)(B)(ii) of the Act allows states to waive, with
EPA approval, the requirement for an emission statement for classes or
categories of sources located in nonattainment areas, which emit less
than 25 tons per year of actual plant-wide VOC and NOX,
provided the class or category is included in the base year and
periodic inventories and emissions are calculated using emission
factors established by EPA (such as those found in EPA publication AP-
42) or other methods acceptable to EPA.

Consolidated Emission Reporting Rule (Annual Reporting for All Criteria
Pollutants)

    In order to consolidate reporting requirements by the states to
EPA, on June 10, 2002 (See 67 FR 39602), EPA published the final
Consolidated Emissions Reporting Rule (CERR). The purpose of the CERR
is to simplify the states' annual reporting, to EPA, of criteria
pollutants (VOC, NOX, SO2, PM10,
PM2.5, CO, Pb) for which National Ambient Air Quality
Standards (NAAQS) have been established, and annual reporting of
NH3, a precursor pollutant. The CERR also provides options
for data collection and exchange, and unified reporting dates for
various categories of criteria pollutant emission inventories. The CERR
requires states to report annually to EPA on emissions of VOC,
NOX, SO2, PM10, CO and Pb, for
industrial point sources, based on specific emission thresholds. The
CERR emissions reports for calendar year 2001 were due on June 1, 2003,
and subsequent reports were due every year thereafter (i.e., calendar
year 2002 emission inventory due June 1, 2004, etc.). Reporting of
PM2.5 and NH3 from point sources was not required
until June 2004, for emissions that occurred during calendar year 2002.

IV. What Are EPA's Conclusions?

    New York's Emission Statement rule, which requires facilities to
report information for the criteria pollutants and the associated
precursors mentioned earlier, satisfies the federal emission statement
and CERR reporting requirements for major sources. In addition, New
York's Emission Statement rule which requires facilities to report
information for HAPs, assists the State in satisfying the HAPs
reporting requirements for major sources. For EPA's detailed evaluation
of New York's Emission Statement rule, the reader is referred to the
proposed rulemaking notice (July 20, 2007, 72 FR 39773).
    It should be noted that the State's Emission Statement program
requires facilities to report individual HAPs that may not be
classified as criteria pollutants or precursors to assist the State in
air quality planning needs. While EPA recognizes the value of this
information, EPA will not take SIP-related enforcement action should a
facility not submit this information to the State in an emissions
statement because these substances do not cause or exacerbate
exceedances of the NAAQS.
    EPA has concluded that the New York Emission Statement rule
contains the necessary applicability, compliance, enforcement and
reporting requirements for an approvable emission statement program.
Accordingly, EPA is approving 6 NYCRR, Chapter III, Part 202, Subpart
202-2, Emission Statements, as part of New York's SIP adopted on April
12, 2005 and effective May 29, 2005.

V. Statutory and Executive Order Reviews

    Under Executive Order 12866 (58 FR 51735, October 4, 1993), this
action is not a ``significant regulatory action'' and therefore is not
subject to review by the Office of Management and Budget. For this
reason, this action is also not subject to Executive Order 13211,

``Actions Concerning Regulations That Significantly Affect Energy
Supply, Distribution, or Use'' (66 FR 28355, May 22, 2001). This action
merely approves state law as meeting Federal requirements and imposes
no additional requirements beyond those imposed by state law.
Accordingly, the Administrator certifies that this rule will not have a
significant economic impact on a substantial number of small entities
under the Regulatory Flexibility Act (5 U.S.C. 601 et seq.). Because
this rule approves pre-existing requirements under state law and does
not impose any additional enforceable duty beyond that required by
state law, it does not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4).
    This rule also does not have tribal implications because it will
not have a substantial direct effect on one or more Indian tribes, on
the relationship between the Federal Government and Indian tribes, or
on the distribution of power and responsibilities between the Federal
Government and Indian tribes, as specified by Executive Order 13175 (65
FR 67249, November 9, 2000). This action also does not have Federalism
implications because it does not have substantial direct effects on the
States, on the relationship between the national government and the
States, or on the distribution of power and responsibilities among the
various levels of government, as specified in Executive Order 13132 (64
FR 43255, August 10, 1999). This action merely approves a state rule
implementing a Federal standard, and does not alter the relationship or
the distribution of power and responsibilities established in the Clean
Air Act. This rule is not subject to Executive Order 13045 ``Protection
of Children from Environmental Health Risks and Safety Risks'' (62 FR
19885, April 23, 1997), because it approves a state program.
    In reviewing SIP submissions, EPA's role is to approve state
choices, provided that they meet the criteria of the Clean Air Act. In
this context, in the absence of a prior existing requirement for the
State to use voluntary consensus standards (VCS), EPA has no authority
to disapprove a SIP submission for failure to use VCS. It would thus be
inconsistent with applicable law for EPA, when it reviews a SIP
submission, to use VCS in place of a SIP submission that otherwise
satisfies the provisions of the Clean Air Act. Thus, the requirements
of section 12(d) of the National Technology Transfer and Advancement
Act of 1995 (15 U.S.C. 272 note) do not apply. This rule does not
impose an information collection burden under the provisions of the
Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.).
    The Congressional Review Act, 5 U.S.C. section 801 et seq., as
added by the Small Business Regulatory Enforcement Fairness Act of
1996, generally provides that before a rule may take effect, the agency
promulgating the rule must submit a rule report, which includes a copy
of the rule, to each House of the Congress and to the Comptroller
General of the United States. EPA will submit a report containing this
rule and other required information to the U.S. Senate, the U.S. House
of Representatives, and the Comptroller General of the United States
prior to publication of the rule in the Federal Register. A major rule
cannot take effect until 60 days after it is published in the Federal
Register. This action is not a ``major rule'' as defined by 5 U.S.C.
section 804(2).
    Under section 307(b)(1) of the Clean Air Act, petitions for
judicial review of this action must be filed in the United States Court
of Appeals for the appropriate circuit by December 31, 2007. Filing a
petition for reconsideration by the Administrator of this final rule
does not affect the finality of this rule for the purposes of judicial
review nor does it extend the time within which a petition for judicial
review may be filed, and shall not postpone the effectiveness of such
rule or action. This action may not be challenged later in proceedings
to enforce its requirements. (See section 307(b)(2).)

List of Subjects in 40 CFR Part 52

    Environmental protection, Air pollution control, Carbon monoxide,
Incorporation by reference, Lead, Nitrogen dioxide, Ozone, Particulate
matter, Reporting and recordkeeping requirements, Sulfur oxides,
Volatile organic compounds.

    Dated: September 26, 2007.
Alan J. Steinberg,
Regional Administrator, Region 2.

0
Part 52, chapter I, title 40 of the Code of Federal Regulations is
amended as follows:

PART 52--[AMENDED]

0
1. The authority citation for part 52 continues to read as follows:

    Authority: 42 U.S.C. 7401 et seq.

Subpart HH--New York

0
2. Section 52.1670 is amended by adding new paragraph (c)(112) to read
as follows:

Sec.  52.1670  Identification of plans.

* * * * *
    (c) * * *
    (112) Revisions to the State Implementation Plan submitted on July
7, 2006 by the New York State Department of Environmental Conservation
for the purpose of enhancing an existing Emission Statement Program for
stationary sources in New York. The SIP revision consists of amendments
to Title 6 of the New York Codes Rules and Regulations, Chapter III,
Part 202, Subpart 202-2, ``Emission Statements.''
    (i) Incorporation by reference:
    (A) Part 202, Subpart 202-2, Emission Statements of Title 6 of the
New York Codes, Rules and Regulations, effective on May 29, 2005.
    (ii) Additional information:
    (A) July 7, 2006, letter from Mr. Carl Johnson, Deputy
Commissioner, OAWM, NYSDEC, to Mr. Alan Steinberg, RA, EPA Region 2,
requesting EPA approval of the amendments to Title 6 of the New York
Codes Rules and Regulations, Chapter III, Part 202, Subpart 202-2,
Emission Statements.
    (B) April 11, 2007, letter from Mr. David Shaw, Director, Division
of Air Resources, NYSDEC, to Mr. Raymond Werner, Chief, Air Programs
Branch, EPA Region 2.

0
3. Section 52.1679 is amended by revising under Title 6 the entry for
part 202 in the table to read as follows:

Sec.  52.1679  EPA-approved New York State regulations.

----------------------------------------------------------------------------------------------------------------
                                             State
       New York State regulation        effective date   Latest EPA approval date             Comments
----------------------------------------------------------------------------------------------------------------
Title 6:

                                                  * * * * * * *
Part 202, Emissions Verification:.....         3/24/79  11/12/81, 46 FR 55690....
Subpart 202-1, ``Emissions Testing,
 Sampling and Analytical
 Determinations''..
    Subpart 202-2, ``Emission                5/29/2005  10/31/07, [Insert FR page  Section 202-2.3(c)(9)
     Statements''.                                       citation].                 requires facilities to
                                                                                report individual HAPs that
                                                                                may not be classified as
                                                                                criteria pollutants or
                                                                                precursors to assist the
                                                                                State in air quality
                                                                                planning needs. EPA will not
                                                                                take SIP-related enforcement
                                                                                action on these pollutants.

                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------

 [FR Doc. E7-21241 Filed 10-30-07; 8:45 am]

BILLING CODE 6560-50-P


[Federal Register: May 8, 2009 (Volume 74, Number 88)]
[Notices]
[Page 21680-21682]
[DOCID:fr08my09-72]

=======================================================================
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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OAR-2003-0162; FRL-8902-8]

Agency Information Collection Activities; Proposed Collection;
Comment Request; Regional Haze Regulations; EPA ICR No. 1813.07, OMB
Control No. 2060-0412

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act (PRA) (44
U.S.C. 3501 et seq.), this document announces that EPA is planning to
submit a request to renew an existing approved Information Collection
Request (ICR) to the Office of Management and Budget (OMB). This ICR is
scheduled to expire on October 31, 2009. Before submitting the ICR to
OMB for review and approval, EPA is soliciting comments on specific
aspects of the proposed information collection as described below.

DATES: Comments must be submitted on or before July 7, 2009.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-HQ-
OAR-2003-0162 by one of the following methods:
     www.regulations.gov: Follow the on-line instructions for
submitting comments.
     Email<EMAIL_ADDRESS>     Fax:<PHONE_NUMBER>.
     Mail: Agency Information Collection Request Activities:
Proposed Collection and Comment Request for the Regional Haze
Regulations Docket, Environmental Protection Agency, Air and Radiation
Docket and Information Center, Mailcode: 2822T, 1200 Pennsylvania Ave.,
NW., Washington, DC 20460. Please include a total of two copies.
     Hand Delivery: EPA Docket Center, Public Reading Room, EPA
West, Room 3334, 1301 Constitution Ave., NW., Washington, DC 20460.
Such deliveries are only accepted during the Docket's normal hours of
operation, and special arrangements should be made for deliveries of
boxed information.
    Instructions: Direct your comments to Docket ID No. EPA-HQ-OAR-
2003-0162. EPA's policy is that all comments received will be included
in the public docket without change and may be made available online at
www.regulations.gov, including any

personal information provided, unless the comment includes information
claimed to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute. Do not submit
information that you consider to be CBI or otherwise protected through
www.regulations.gov or e-mail. The www.regulations.gov Web site is an
``anonymous access'' system, which means EPA will not know your
identity or contact information unless you provide it in the body of
your comment. If you send an e-mail comment directly to EPA without
going through www.regulations.gov, your e-mail address will be
automatically captured and included as part of the comment that is
placed in the public docket and made available on the Internet. If you
submit an electronic comment, EPA recommends that you include your name
and other contact information in the body of your comment and with any
disk or CD-ROM you submit. If EPA cannot read your comment due to
technical difficulties and cannot contact you for clarification, EPA
may not be able to consider your comment. Electronic files should avoid
the use of special characters, any form of encryption, and be free of
any defects or viruses. For additional information about EPA's public
docket visit the EPA Docket Center homepage at http://www.epa.gov/
epahome/dockets.htm.

FOR FURTHER INFORMATION CONTACT: Mr. Todd Hawes, Air Quality Policy
Division, Office of Air Quality Planning and Standards, (C539-04),
Environmental Protection Agency, Research Triangle Park, North Carolina
27711; telephone number:<PHONE_NUMBER>; fax number:<PHONE_NUMBER>; e-
mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

How Can I Access the Docket and/or Submit Comments?

    EPA has established a public docket for this ICR under Docket ID
No. EPA-HQ-OAR-2003-0162, which is available for online viewing at
www.regulations.gov, or in person at the Air Docket in the EPA Docket
Center (EPA/DC), EPA West, Room 3334, 1301 Constitution Ave., NW,
Washington, DC. The EPA/DC Public Reading Room is open from 8:30 a.m.
to 4:30 p.m., Monday through Friday, excluding legal holidays. The
telephone number for the Reading Room is<PHONE_NUMBER>, and the
telephone number for the Air Docket is<PHONE_NUMBER>.
    Use www.regulations.gov to obtain a copy of the draft collection of
information, submit or view public comments, access the index listing
of the contents of the docket, and to access those documents in the
public docket that are available electronically. Once in the system,
select ``search,'' then key in the docket ID number identified in this
document.

What Information is EPA Particularly Interested in?

    Pursuant to section 3506(c)(2)(A) of the Paperwork Reduction Act,
EPA specifically solicits comments and information to enable it to:
    (i) Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the Agency,
including whether the information will have practical utility;
    (ii) Evaluate 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;
    (iii) Enhance the quality, utility, and clarity of the information
to be collected; and
    (iv) Minimize the burden of the collection of information on those
who are to respond, including through the use of appropriate automated
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., permitting electronic
submission of responses. In particular, EPA is requesting comments from
very small businesses (those that employ less than 25) on examples of
specific additional efforts that EPA could make to reduce the paperwork
burden for very small businesses affected by this collection.

What Should I Consider When I Prepare My Comments for EPA?

    You may find the following suggestions helpful for preparing your
comments:
    1. Explain your views as clearly as possible and provide specific
examples.
    2. Describe any assumptions that you used.
    3. Provide copies of any technical information and/or data you used
that support your views.
    4. If you estimate potential burden or costs, explain how you
arrived at the estimate that you provide.
    5. Offer alternative ways to improve the collection activity.
    6. Make sure to submit your comments by the deadline identified
under DATES.
    7. To ensure proper receipt by EPA, be sure to identify the docket
ID number assigned to this action in the subject line on the first page
of your response. You may also provide the name, date, and Federal
Register citation.

What Information Collection Activity or ICR Does this Apply to?

    Affected entities: Entities potentially affected by this action are
state, local and tribal air quality agencies; regional planning
organizations; facilities potentially regulated under the regional haze
rule.
    Title: Regional Haze Regulations; EPA ICR No. 1813.07, OMB Control
No. 2060-0412
    ICR numbers: EPA ICR No. 1813.07, OMB Control No. 2060-0412.
    ICR status: This ICR is currently scheduled to expire on October
31, 2009. An Agency may not conduct or sponsor, and a person is not
required to respond to, a collection of information, unless it displays
a currently valid OMB control number. The OMB control numbers for EPA's
regulations in title 40 of the CFR, after appearing in the Federal
Register when approved, are listed in 40 CFR part 9, and are displayed
either by publication in the Federal Register or by other appropriate
means, such as on the related collection instrument or form, if
applicable. The display of OMB control numbers in certain EPA
regulations is consolidated in 40 CFR part 9.
    Abstract: This ICR is for activities related to the implementation
of EPA's 1999 regional haze rule, for the time period between October
31, 2009 and October 30, 2012, and renews the previous ICR. The
regional haze rule, as authorized by sections 169A and 169B of the
Clean Air Act (CAA), requires states to develop implementation plans to
protect visibility in 156 federally-protected Class I areas. Tribes may
choose to develop implementation plans. For this time period, states
will be completing their implementation plans to comply with the rule.
Before any agency, department, or instrumentality of the federal
government engages in, supports in any way, provides financial
assistance for, licenses, permits, or approves any activity, that
agency has the affirmative responsibility to ensure that such action
conforms to the State Implementation Plan (SIP) required under the
regional haze rule. An agency may not conduct or sponsor, and a person
is not required to respond to, a collection of information request
unless it displays a currently valid OMB control number. The OMB
control numbers for EPA's regulations in 40 CFR are listed in 40 CFR
part 9 and 48 CFR chapter 15. Section 176(c) of the CAA (42 U.S.C. 7401
et seq.) requires that all federal actions conform with the SIP
requirements. Depending on the type of action, the federal entities
must collect

information themselves, hire consultants to collect the information or
require applicants/sponsors of the federal action to provide the
information.
    Burden Statement: The annual public reporting and recordkeeping
burden for this collection of information is estimated to average 37
hours per response. Burden means the total time, effort, or financial
resources expended by persons to generate, maintain, retain, or
disclose or provide information to or for a federal agency. This
includes the time needed to review instructions; develop, acquire,
install, and utilize technology and systems for the purposes of
collecting, validating, and verifying information, processing and
maintaining information, and disclosing and providing information;
adjust the existing ways to comply with any previously applicable
instructions and requirements which have subsequently changed; train
personnel to be able to respond to a collection of information; search
data sources; complete and review the collection of information; and
transmit or otherwise disclose the information.
    The ICR provides a detailed explanation of the Agency's estimate,
which is only briefly summarized here:
    Estimated total number of potential respondents: 859.
    Frequency of response: Annual.
    Estimated total average number of responses for each respondent: 1.
    Estimated total annual burden hours: 31,841 hours.
    Estimated total annual costs: $1,965,000. This includes an
estimated burden cost of $1,965,000 and an estimated cost of $0 for
capital investment or maintenance and operational costs.

Are There Changes in the Estimates From the Last Approval?

    There are only minor revisions to the cost estimates since the last
renewal of this ICR (July 11, 2006; 71 FR 39104). The last collection
request anticipated the program progressing from the planning stages to
implementation. That transition has been somewhat delayed as most
states were late in getting their implementation plans submitted by the
December 2007 deadline. Also, the decision by the U.S. Court of Appeals
for the D.C. Circuit to vacate (on July 11, 2008) and subsequently
remand (on December 23, 2008) the Clean Air Interstate Rule has added
much uncertainty to the implementation phase of the program.
Consequently, the amount of effort anticipated in July 2006 remains the
same today, and burden estimates are essentially unchanged, except for
revised labor and wage rates using 2007 cost estimates. Also, in 2006,
it was estimated that one tribe would submit a SIP; however no tribes
elected to submit SIPs and the number of respondents has been reduced
by one.

What is the Next Step in the Process for This ICR?

    EPA will consider the comments received and amend the ICR as
appropriate. The final ICR package will then be submitted to OMB for
review and approval pursuant to 5 CFR 1320.12. At that time, EPA will
issue another Federal Register notice pursuant to 5 CFR
1320.5(a)(1)(iv) to announce the submission of the ICR to OMB and the
opportunity to submit additional comments to OMB. If you have any
questions about this ICR or the approval process, please contact the
technical person listed under FOR FURTHER INFORMATION CONTACT.

    Dated: April 29, 2009.
Jenny N. Edmonds,
Acting Director, Office of Air Quality Planning and Standards.
[FR Doc. E9-10763 Filed 5-7-09; 8:45 am]

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