[Federal Register Volume 88, Number 148 (Thursday, August 3, 2023)]
[Notices]
[Pages 51326-51328]
[FR Doc No: 2023-16568]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2023-N-0465]

Agency Information Collection Activities; Submission for Office
of Management and Budget Review; Comment Request; Prior Notice of
Imported Food Under the Public Health Security and Bioterrorism
Preparedness and Response Act of 2002

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA, Agency, or we) is
announcing that a proposed collection of information has been submitted
to the Office of Management and Budget (OMB) for review and clearance
under the Paperwork Reduction Act of 1995.

DATES: Submit written comments (including recommendations) on the
collection of information by September 5, 2023.

ADDRESSES: To ensure that comments on the information collection are
received, OMB recommends that written comments be submitted to https://www.reginfo.gov/public/do/PRAMain. Find this particular information
collection by selecting ``Currently under Review--Open for Public
Comments'' or by using the search function. The OMB control number for
this information collection is 0910-0520. Also include the FDA docket
number found in brackets in the heading of this document.

FOR FURTHER INFORMATION CONTACT: Amber Sanford, Office of Operations,
Food and Drug Administration, Three White Flint North, 10A-12M, 11601
Landsdown St., North Bethesda, MD 20852,<PHONE_NUMBER>,
[email protected].

SUPPLEMENTARY INFORMATION: In compliance with 44 U.S.C. 3507, FDA has
submitted the following proposed collection of information to OMB for
review and clearance.

Prior Notice of Imported Food Under the Public Health Security and
Bioterrorism Preparedness and Response Act of 2002--21 CFR 1.278 to
1.285

OMB Control Number 0910-0520--Extension

    The Public Health Security and Bioterrorism Preparedness and
Response Act of 2002 (Bioterrorism Act) added section 801(m) of the
Federal Food, Drug, and Cosmetic Act (FD&C Act) (21 U.S.C. 381(m)),
which requires that FDA receive prior notice for food, including food
for animals, that is imported or offered for import into the United
States. Sections 1.278 to 1.282 of FDA regulations (21 CFR 1.278 to
1.282) set forth the requirements for submitting prior notice;
Sec. Sec.  1.283(d) and 1.285(j) (21 CFR 1.283(d) and 1.285(j)) set
forth the procedure for requesting Agency review after FDA has refused
admission of an article of food under section 801(m)(1) of the FD&C Act
or placed an article of food under hold under section 801(l) of the
FD&C Act; and Sec.  1.285(i) sets forth the procedure for post-hold
submissions.
    Section 304 of the FDA Food Safety Modernization Act (Pub. L. 111-
353) amended section 801(m) of the FD&C Act to require a person
submitting prior notice of imported food, including food for animals,
to report, in addition to other information already required, ``any
country to which the article has been refused entry.'' Advance notice
of imported food allows FDA, with the support of the U.S. Customs and
Border Protection (CBP), to target import inspections more effectively
and help protect the nation's food supply against terrorist acts and
other public health emergencies. By requiring that a prior notice
contain specific information that indicates prior refusals by any
country and identifies the country or countries, the Agency may better
identify imported food shipments that may pose safety and security
risks to U.S. consumers.
    This information collection enables FDA to make better informed
decisions in managing the potential risks of imported food shipments
into the United States. Any person with knowledge of the required
information may submit prior notice for an article of food. Thus, the
respondents to this information collection may include importers,
owners, ultimate consignees, shippers, and carriers.
    FDA regulations require that prior notice of imported food be
submitted electronically using CBP's Automated Broker Interface of the
Automated Commercial Environment (ABI/ACE) (Sec.  1.280(a)(1)) or the
FDA Prior Notice System Interface (PNSI) (Form FDA 3540) (Sec.
1.280(a)(2)). PNSI is an electronic submission system available on the
FDA Industry Systems page at https://www.access.fda.gov. Information
the Agency collects in the prior notice submission includes: (1) the
submitter and transmitter (if different from the submitter); (2) entry
type and CBP identifier; (3) the article of food, including complete
FDA product code; (4) the manufacturer, for an article of food no
longer in its natural state; (5) the grower, if known, for an article
of food that is in its natural state; (6) the FDA Country of
Production; (7) the name of any country that has refused entry of the
article of food; (8) the shipper, except for food imported by
international mail; (9) the country from which the article of food is
shipped or, if the food is imported by international mail, the
anticipated date of mailing and country from which the food is mailed;
(10) the anticipated arrival information or, if the food is imported by
international mail, the U.S. recipient; (11) the importer, owner, and
ultimate consignee, except for food imported by international mail or
transshipped through the United States; (12) the carrier and mode of
transportation, except for food imported by international mail; and
(13) planned shipment information, except for food imported by
international mail (Sec.  1.281).
    Much of the information collected for prior notice is identical to
the information collected for FDA importer's entry notice, which has
been approved under OMB control number 0910-0046. The information in an
importer's entry notice is collected electronically via CBP's ABI/ACE
at the same time the respondent files an entry for import with CBP. To
avoid double-counting the burden hours already counted in the
importer's entry notice information collection, the burden hour
analysis in table 1 reflects FDA's estimate of the reduced burden for
prior notice submitted through ABI/ACE in column 6 entitled ``Average
Burden per Response.''
    In addition to submitting a prior notice, a submitter should cancel
a prior notice and must resubmit the information to FDA if information
changes after the Agency has confirmed a prior notice submission for
review (e.g., if the identity of the manufacturer changes) (Sec.
1.282). However, changes in the estimated quantity, anticipated arrival
information, or planned shipment information do not require
resubmission of prior notice after the Agency has confirmed a prior
notice submission for review (Sec.  1.282(a)(1)(i) to (iii)). In the
event that FDA refuses admission to an article of food under section
801(m)(1) or the Agency places it under hold under section 801(l) of
the FD&C Act, Sec. Sec.  1.283(d) and 1.285(j) set forth the procedure
for requesting FDA's review and the information required in a request
for review. In the event that the Agency places an article of food
under hold under Sec.  801(l) of the FD&C Act, Sec.  1.285(i) sets
forth the procedure for, and the information to be included in, a post-
hold submission.
    In the Federal Register of February 27, 2023 (88 FR 12366), FDA
published a 60-day notice requesting public comment on the proposed
collection of information. No comments were received.
    We estimate the burden of this collection of information as
follows:

                                                      Table 1--Estimated Annual Reporting Burden 1
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                             Number of
             21 CFR section                FDA form No.      Number of     responses per   Total annual     Average burden per response     Total hours
                                                            respondents     respondent       responses
--------------------------------------------------------------------------------------------------------------------------------------------------------
Prior Notice Submissions:
    Through ABI/ACE.....................
    1.280 through 1.281.................             N/A           1,900           7,895      15,000,500  0.167 (10 minutes)............   \2\ 2,505,084
    Through PNSI........................

    1.280 through 1.281.................        \3\ 3540          13,000             231       3,003,000  0.384 (23 minutes)............       1,153,152
        Subtotal........................  ..............  ..............  ..............  ..............  ..............................       3,658,236
Cancellations:
    Through ABI/ACE.....................
    1.282...............................             N/A          25,000               1          25,000  0.25 (15 minutes).............           6,250
    Through PNSI........................
    1.282 and 1.283(a)(5)...............            3540          50,000               1          50,000  0.25 (15 minutes).............          12,500
        Subtotal........................  ..............  ..............  ..............  ..............  ..............................          18,750
Requests for Review and Post-hold
 Submissions:
    1.283(d) and 1.285(j)...............             N/A               1               1               1  8.............................               8
    1.285(i)............................             N/A             500               1             500  1.............................             500
        Subtotal:.......................  ..............  ..............  ..............  ..............  ..............................             508
                                         ---------------------------------------------------------------------------------------------------------------
            Total.......................  ..............  ..............  ..............      18,079,001  ..............................       3,677,494
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ There are no capital costs or operating and maintenance costs associated with this collection of information.
\2\ To avoid double counting, an estimated 396,416 burden hours already accounted for in the importer's entry notice information collection approved
  under OMB control number 0910-0046 are not included in the total.
\3\ The term ``Form FDA 3540'' refers to the electronic submission system known as PNSI, which is available at https://www.access.fda.gov.

    Table 1 reflects the annual estimated reporting burden associated
with the information collection. During the next 3 years, we estimate
each respondent will need approximately 10 minutes per submission for a
total of 15,000,500 annual submissions and 2,505,083.5 rounded up to
2,505,084 annual hours of burden. Similarly, we estimate 13,000 users
submitting an average of 231 notices annually, requiring approximately
23 minutes per submission. Cumulatively, this totals 3,003,000 annual
responses and 1,153,152 annual hours of burden.
    Regarding cancellations of prior notices, we estimate 25,000
respondents averaging 1 cancellation annually and requiring 15 minutes
to do so. Cumulatively, this totals 25,000 annual submissions and 6,250
annual hours of burden. Similarly, we estimate 50,000 registered users
submitting an average of 1 cancellation annually and requiring 15
minutes to do so. Cumulatively, this totals 50,000 annual responses and
12,500 annual hours of burden.
    We estimate that we will receive one submission annually under
Sec.  1.283(d) or Sec.  1.285(j) over the next 3 years. It takes
approximately 8 hours to prepare a submission, which results in 8 hours
of burden.
    Finally, for an average of 500 post-hold submissions annually, we
estimate it will take respondents 1 hour to prepare the written
notification described in Sec.  1.285(i)(2)(i), for a total of 500
annual burden hours.
    Based on our experience and the average number of prior notice
submissions, cancellations, and requests for review received in the
past 3 years, we are adjusting our burden estimate for this information
collection by increasing the number of responses and total burden. The
number of responses has increased by 3,146,589 responses (from
14,932,412 to 18,079,001). The total burden has increased by 769,918
hours (from 2,907,576 to 3,677,494). We attribute the adjustment to an
increase in the number of responses.

    Dated: July 31, 2023.
Lauren K. Roth,
Associate Commissioner for Policy.
[FR Doc. 2023-16568 Filed 8-2-23; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register Volume 79, Number 10 (Wednesday, January 15, 2014)]
[Notices]
[Page 2653]
[FR Doc No: 2014-00545]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. OR14-13-000]

Enbridge Energy, Limited Partnership; Notice of Supplement to
Facilities Surcharge Settlement

    Take notice that on December 13, 2013, in accordance with Rule
602(f) of the Commission's Rules of Practice and Procedure, 18 CFR
385.602(f), Enbridge Energy, Limited Partnership (Enbridge Energy),
with the support of the Canadian Association of Petroleum Producers
(CAPP), submitted a Supplement to the Facilities Surcharge Settlement
approved by the Commission on June 30, 2004, in Docket No. OR04-2-000.
    Initial comments and reply comments on the Settlement Supplement
should be submitted on or before the dates indicated below.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with Internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
14 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First St. NE., Washington, DC 20426.
    The filings in the above proceeding are accessible in the
Commission's eLibrary system by clicking on the appropriate link in the
above list. They are also available for review in the Commission's
Public Reference Room in Washington, DC. There is an eSubscription link
on the Web site that enables subscribers to receive email notification
when a document is added to a subscribed docket(s). For assistance with
any FERC Online service, please email<EMAIL_ADDRESS>or
call<PHONE_NUMBER> (toll free). For TTY, call<PHONE_NUMBER>.
    Comment Date: 5:00 p.m. Eastern time on January 15, 2014.
    Reply Comments: 5:00 p.m. Eastern time on January 21, 2014.

    Dated: January 8, 2014.
Kimberly D. Bose,
Secretary.
[FR Doc. 2014-00545 Filed 1-14-14; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 76, Number 111 (Thursday, June 9, 2011)]
[Notices]
[Page 33774]
[FR Doc No: 2011-14321]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-1979-DR; Docket ID FEMA-2011-0001]

Tennessee; Amendment No. 2 to Notice of a Major Disaster
Declaration

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: This notice amends the notice of a major disaster declaration
for the State of Tennessee (FEMA-1979-DR), dated May 9, 2011, and
related determinations.

DATES: Effective Date: June 1, 2011.

FOR FURTHER INFORMATION CONTACT: Peggy Miller, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street, SW.,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The notice of a major disaster declaration
for the State of Tennessee is hereby amended to include the following
areas among those areas determined to have been adversely affected by
the event declared a major disaster by the President in his declaration
of May 9, 2011.

    Lincoln County for Individual Assistance.

    Tipton County for Individual Assistance and Public Assistance,
including direct Federal assistance.

    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households In Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050 Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

W. Craig Fugate,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2011-14321 Filed 6-8-11; 8:45 am]
BILLING CODE 9111-23-P


[Federal Register Volume 79, Number 107 (Wednesday, June 4, 2014)]
[Notices]
[Pages 32340-32342]
[FR Doc No: 2014-12885]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72272; File No. SR-CME-2014-21]

Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to IRS Coupon Blending

May 29, 2014.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Exchange Act'' or ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on May 16, 2014, Chicago Mercantile Exchange Inc.
(``CME'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change described in Items I and II
below, which Items have been prepared primarily by CME. CME filed the
proposal pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-
4(f)(4)(ii) \4\ thereunder so that the proposal was effective upon
filing with the Commission. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(4)(ii).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    CME is filing the proposed rule change that is limited to its
business as a derivatives clearing organization. More specifically, the
proposed rule change would adopt new CME Rule 90008 to allow market
participants the

ability to reduce the number of open positions and/or the gross
notional of their interest rate swap (``IRS'') positions through
compression by coupon blending.

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

    In its filing with the Commission, CME included statements
concerning the purpose 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. CME has prepared summaries, set forth in sections A, B,
and C below, of the most significant aspects of such statements.

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

    CME is registered as a DCO with the Commodity Futures Trading
Commission (``CFTC'') and offers clearing services for many different
futures and swaps products. The proposed rule change that is the
subject of this filing is limited to CME's business as a DCO offering
clearing services for CFTC-regulated swaps products.
    CME is proposing to adopt new CME Rule 90008 to allow market
participants the ability to reduce the number of open positions and/or
the gross notional of their interest rate swap (``IRS'') positions
through compression by coupon blending. CME is offering coupon blending
for market participants interested in reducing the number of IRS
contracts cleared at CME.
    Under the new rule, a market participant interested in coupon
blending would inform CME or its IRS Clearing Member that it wishes to
exercise coupon blending and then CME would conduct a process that
would take IRS contracts executed at the same or different fixed rates
and replace them with zero or more IRS Contracts that have Fixed
Rate(s) equal to the blended rate(s) determined through the coupon
blending process. The process would result in either a reduction in the
number of transactions, a reduction in the aggregate gross notional of
the combined IRS Contracts or both. Coupon blending would be available
to all participants on a voluntary basis and could be automated at a
market participant's request.
    The change that is described in this filing is limited to CME's
business as a DCO clearing products under the exclusive jurisdiction of
the CFTC and does not materially impact CME's security-based swap
clearing business in any way. CME notes that it has also certified the
proposed rule change that is the subject of this filing to its primary
regulator, the CFTC, in a separate filing, CME Submission No. 14-157.
This change will be effective on filing.
    CME believes the proposed rule change is consistent with the
requirements of the Exchange Act including Section 17A of the Exchange
Act.\5\ The proposed change would allow market participants the ability
to reduce the number of open positions and/or the gross notional of
their IRS positions through compression by coupon blending. This new
process will result in either a reduction in the number of
transactions, a reduction in the aggregate gross notional of the
combined IRS Contracts or both. This tool will be available to all
market participants for cleared OTC IRS trades and these processes will
enhance the risk management tools available in connection with CME's
OTC IRS offering. These risk management enhancements promote the prompt
and accurate clearance and settlement of securities transactions and,
to the extent applicable, derivatives agreements, contracts, and
transactions, to assure the safeguarding of securities and funds which
are in the custody or control of the clearing agency or for which it is
responsible, and, in general, to protect investors and the public
interest consistent with Section 17A(b)(3)(F) of the Exchange Act.\6\
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    \5\ 15 U.S.C. 78q-1.
    \6\ 15 U.S.C. 78q-1(b)(3)(F).
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    Furthermore, the proposed change is limited in its effect to
products offered under CME's authority to act as a DCO. The products
that are the subject of this filing are under the exclusive
jurisdiction of the CFTC. As such, the proposed change is limited to
CME's activities as a DCO clearing swaps that are not security-based
swaps; CME notes that the policies of the CFTC with respect to
administering the Commodity Exchange Act are comparable to a number of
the policies underlying the Exchange Act, such as promoting market
transparency for over-the-counter derivatives markets, promoting the
prompt and accurate clearance of transactions and protecting investors
and the public interest.
    Because the proposed change is limited in its effect to IRS
products offered under CME's authority to act as a DCO, the proposed
change is properly classified as effecting a change in an existing
service of CME that:
    (a) Primarily affects the clearing operations of CME with respect
to products that are not securities, including futures that are not
security futures, swaps that are not security-based swaps or mixed
swaps; and forwards that are not security forwards; and
    (b) Does not significantly affect any securities clearing
operations of CME or any rights or obligations of CME with respect to
securities clearing or persons using such securities-clearing service.

As such, the change is therefore consistent with the requirements of
Section 17A of the Exchange Act \7\ and are properly filed under
Section 19(b)(3)(A) \8\ and Rule 19b-4(f)(4)(ii) \9\ thereunder.
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    \7\ 15 U.S.C. 78q-1.
    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(4)(ii).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    CME does not believe that the proposed rule change will have any
impact, or impose any burden, on competition. The proposed rule would
provide market participants with the ability to reduce the number of
open positions and/or the gross notional of their IRS positions through
compression by coupon blending. This new process will enhance risk
management in connection with CME's IRS clearing offering and could
result in either a reduction in the number of already effected
transactions, a reduction in the aggregate gross notional of the
combined IRS Contracts or both, but should not be seen to impact
competition.

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

    CME has not solicited, and does not intend to solicit, comments
regarding this proposed rule change. CME has not received any
unsolicited written comments from interested parties.

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) \10\ of the Act and Rule 19b-4(f)(4)(ii) \11\ 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.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(4)(ii).
---------------------------------------------------------------------------

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml), or
     Send an email to<EMAIL_ADDRESS>Please include
File No. SR-CME-2014-21 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-CME-2014-21. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of CME and on CME's
Web site at http://www.cmegroup.com/market-regulation/rule-filings.html.
    All comments received will be posted without change; the Commission
does not edit personal identifying information from submissions. You
should submit only information that you wish to make available
publicly.
    All submissions should refer to File Number SR-CME-2014-21 and
should be submitted on or before June 25, 2014.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

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

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-12885 Filed 6-3-14; 8:45 am]
BILLING CODE 8011-01-P


Meeting with the National Association of Home Builders

Tuesday, August 29, 2006

Location: U.S. EPA - 1201 Constitution Avenue, Room 4353CC

In July, 2006 the National Association for Home Builders (NAHB)
contacted EPA to discuss the interim results of their Renovation and
Repair (R&R) Study, and ask for information on EPA’s Dust Containment
Study.   On August 29, 2006, at 11:00AM NAHB met with EPA to discuss the
studies.    The meeting attendees were Gary Suskauer, Therese Crahan,
and AJ Holliday from NAHB, and Maria Doa, Mike Wilson, Jackie Mosby,
Samuel Brown, and John Schwemberger from EPA.

The purpose of the meeting was to discuss NAHB’s R & R Study, and for
EPA to share currently available information on EPA’s R&R Dust Study.

EPA informed NAHB that we would be taking notes from the meeting and the
notes would be included in the docket since EPA is currently in the
proposed rulemaking process for the Renovation, Repair, and Painting
Program.

AJ Holiday, legal counsel for NAHB said because EPA would be docketing
the meeting, there were aspects of their study that they would not be
able to share since their study is currently draft, and had not been
peer reviewed.

Gary Suskauer of NAHB provided information on their study, and said it
was designed to better understand typical renovation and remodeling
activities being done by workers.   Their study modeled R&R activities
using routine work practices, using modified lead safe work practices,
documented lead safe work practices, and evaluated the amount of time it
took to complete an R& R activity.   They also looked at whether R&R
activities create lead hazards, whether levels of lead dust go in the
air, and if the different work practices matter in controlling lead
hazards.

NAHB began their study in January, 2006 in three cities, at five
different sites.  The cities were Hartford, CT, Milwaukee, WI, and
Chicago, IL, and the study was conducted in Jan, April, and May 2006,
and was done in unoccupied structures on the interior only.

NAHB sent the results from their study to their peer reviewers, and as
soon the peer review is completed, NAHB will finalize the study report
and submit EPA a copy.   NAHB expects to have a final report by the end
of October, 2006.

EPA discussed its dust study, and provided everyone with a copy of the
attached fact sheet on EPA’s Study on Reducing Lead Levels from
Renovation, Repair, and Painting activities.   Jackie Mosby went over
the fact sheet, and said EPA is conducting research to evaluate
environmental lead levels at appropriate stages after renovation,
repair, and painting (RRP) activities, and that the research supports
the risk assessment and cost/benefit analyses associated with EPA’s
proposed rule for Renovation, Repair, and Painting published in the
Federal Register on January 10, 1006.   She also informed them that EPA
plans is to have the study completed by the end of the year, and the
study addresses interior and exterior work.  John Schwemberger, the lead
statistician for the dust study, then discussed the dust study protocol.
  The attached summary from the EPA Science Inventory web site was also
provided to NAHB, and Jackie Mosby discussed the summary at the meeting.

The meeting ended at 12:00PM.


U.S. DEPARTMENT OF TRANSPORTATION

NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION

1200 NEW JERSEY AVENUE SE.

WASHINGTON DC, 20590	UNITED STATES ENVIRONMENTAL PROTECTION AGENCY

OFFICE OF AIR AND RADIATION

NATIONAL VEHICLE AND FUEL EMISSIONS LABORATORY

2000 TRAVERWOOD DRIVE

ANN ARBOR, MI  48105-2498

July 18, 2016

MEMORANDUM

SUBJECT:	Comparison of GEM Drive Cycle Weightings and Fleet Data
Provided by Utility Trailer Manufacturing Co. in Public Comments

FROM:	Jessica Brakora, Engineer, Assessment and Standards Division

Office of Transportation and Air Quality

TO:	Greenhouse Gas Emissions Standards and Fuel Efficiency Standards for
Medium- and Heavy-Duty Engines and Vehicles - Phase 2 - Dockets
NHTSA-2014-0132 and EPA-HQ-OAR-2014-0827

The agencies received public comments from Utility Trailer Manufacturing
Co. (Utility) that suggested the speed distribution used to evaluate
trailer performance in GEM is not representative of real-world
operation.  Utility obtained “real-world speed data from four
fleets” and noted that two were “long-haul, nationwide carriers”
and two were “regional fleets for food-service customers”.  Utility
provided detailed speed data including percent of time spent at idle and
18 speed increments for three fleets and a general description of the
fourth fleet.  This memo includes our evaluation of the speed data
provided for the three fleets.  We are unable to address the more
general information provided for the fourth fleet.   Utility claims that
this fleet’s data confirms only small gains are achieved at high
speeds, but the comment simply noted the total mileage and indicated
that about 94% of the fuel was consumed at speeds below 55 mph, without
any additional details.

The first four columns of   REF _Ref455477832 \h  Table 1  (light gray)
reproduce the three fleets’ speed data provided by Utility in its
comments.  Note that these data include time at idle.  However, the
trailer does not impact CO2 or fuel consumption when the vehicle is in
idle.  No additional energy is required to pull the payload, or overcome
drag and rolling resistance when the vehicle is not in motion.  With the
exception of technologies related to the transport refrigeration unit
(TRU) of refrigerated trailers, which is out of scope of this
rulemaking, the agencies are not aware of any trailer technologies that
increase or reduce fuel use when the vehicle is idling.  Therefore, we
do not consider idle when we estimate our per-vehicle performance for
compliance using GEM.  Additionally, the data was provided as percent
time at a given speed.  GEM’s drive cycle weightings are
distance-based, and considers the amount of distance traveled at each
speed instead of time at each speed.  To ensure we are making an
appropriate apples-to-apples comparison between the data provided and
our current GEM drive cycle weightings, we converted Utility’s data to
reflect the format required by GEM.  The results are shown in the last
three columns of   REF _Ref455477832 \h  Table 1  and the intermediate
calculations are available in the attached Excel spreadsheet.

Table   SEQ Table \* ARABIC  1   Speed Data for Three 53-Foot Box Van
Fleets

Cruising Speed

(mph)	% Time at Speed*	% Distance at Speed**

	Fleet 1	Fleet 2	Fleet 3	Fleet 1	Fleet 2	Fleet 3

0.0	38.57%	14.70%	20.26%	0.0%	0.0%	0.0%

2.5	2.37%	1.76%	2.33%	0.2%	0.1%	0.1%

7.5	2.38%	2.39%	3.60%	0.6%	0.4%	0.6%

12.5	1.53%	1.48%	2.80%	0.6%	0.4%	0.8%

17.5	1.13%	1.05%	1.81%	0.6%	0.4%	0.8%

22.5	1.03%	1.04%	1.50%	0.8%	0.5%	0.8%

27.5	1.13%	1.13%	1.07%	1.0%	0.7%	0.7%

32.5	1.23%	1.18%	2.80%	1.3%	0.8%	2.2%

37.5	1.47%	1.29%	1.38%	1.8%	1.1%	1.2%

42.5	2.35%	1.71%	1.60%	3.2%	1.6%	1.6%

47.5	1.78%	2.50%	1.14%	2.7%	2.6%	1.3%

52.5	4.35%	6.37%	1.50%	7.4%	7.3%	1.9%

55.0	3.15%	6.78%	4.05%	5.6%	8.2%	5.4%

57.5	4.25%	10.29%	3.74%	7.9%	12.9%	5.2%

59.5	10.62%	12.41%	3.74%	20.5%	16.1%	5.3%

61.5	19.63%	12.10%	5.00%	39.2%	16.3%	7.4%

63.5	1.68%	11.64%	15.60%	3.5%	16.2%	23.8%

65.0	1.35%	10.19%	25.71%	2.9%	14.5%	40.1%

70.0	0.00%	0.00%	0.38%	0.0%	0.0%	0.6%

*    Speed data provided by Utility in public comments

**  Utility’s speed data converted to GEM’s distance-based format

Utility’s comment also included a graph that compared the three fleets
speed to the three drive cycles in GEM that is copied in   REF
_Ref455481260 \h  Figure 1 .  Utility cited a disconnect between the GEM
drive cycles and the real-world data provided.  However, as mentioned
previously, the data provided in the comment was time-based and it is
not appropriate to compare time-based data to GEM’s distance-based
drive cycle weightings.  In   REF _Ref455481739 \h  Figure 2 , the
agencies used the converted “% Distance at Speed” data from   REF
_Ref455477832 \h  Table 1  and recreated the comparison of   REF
_Ref455481260 \h  Figure 1  with consistent units for the data.

While Utility’s comment suggested that GEM “dramatically exceeds
what the real-world data shows”,   REF _Ref455481739 \h  Figure 2
shows that the difference is not as drastic when consistent units are
used.  In fact, the GEM model appears to overestimate the distance
traveled at speeds lower than 30 mph compared to the real-world data
provided.  Utility also noted that the weighted average speed for GEM is
62 mph, but the fleet data was between 30 mph and 45 mph.  However, when
considering distance-based speeds, the average speed for the three
fleets is actually 58 mph.

Figure   SEQ Figure \* ARABIC  1   Percent of Time at Speed Figure
Copied Directly from Utility’s Public Comments

Figure   SEQ Figure \* ARABIC  2   Percent of Distance at Speed
Comparison of GEM’s Long Haul Drive Cycle Weightings and Utility’s
Fleet Data from Public Comments Converted to Distance-Based Units

The agencies acknowledge that the current GEM weighting for percent of
distance at 65 mph is greater than is seen in these three fleets and
that devices evaluated at 65 mph would not perform as well for these
fleets.  However, GEM’s fraction of 55 mph is lower, yet aerodynamic
devices are nearly as effective at 55 mph compared to 65 mph (about a
20% difference).  It may be more effective to consider low and high
speed operation to evaluate whether the GEM drive cycle weightings are
appropriate.  If we create two bins of speed with 55 mph as the
demarcation,   REF _Ref455491937 \h  Figure 3  shows that the three
fleet’s data provided by Utility, which includes at least one regional
food service fleet, is much more similar to the GEM drive cycles.

Figure   SEQ Figure \* ARABIC  3   Percent of Distance at Speed when
Speed Data is Combined into Low and High Speed Bins

These results suggest that the fleet data provided by Utility is not
substantially different than the current GEM drive cycle weightings.
The results indicate that the fleets are not traveling a majority of
their miles at speeds that would have minimal benefit from the
technologies that are the basis of the Phase 2 trailer program; the data
generally indicates the reverse. Additionally, while there are some
differences in the fraction of distance at 65-mph, there is no
indication that the data from these three fleets is representative of
nationwide tractor-trailer operation.  Therefore, the agencies do not
believe that these limited data justify new drive cycle weightings for
the Phase 2 trailer program.

Attachment:  MemoAttachment_DriveCycleComparison_Utility.xlsx

Comparison of GEM Drive Cycle Weightings and Fleet Data Provided in
Public Comments, Page   PAGE  4  of   NUMPAGES   4


[Federal Register Volume 84, Number 27 (Friday, February 8, 2019)]
[Notices]
[Pages 2937-2938]
[FR Doc No: 2019-01531]

=======================================================================
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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 33367; File No. 812-14937]

Special Opportunities Fund, Inc. and Bulldog Investors, LLC

February 4, 2019.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice.

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    Notice of an application under section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from section 19(b) of
the Act and rule 19b-1 under the Act to permit a registered closed-end
investment company to make periodic distributions of long-term capital
gains more frequently than permitted by section 19(b) or rule 19b-1.

Applicants: Special Opportunities Fund, Inc. (``SPE''), a diversified
closed-end investment company registered under the Act and organized as
a corporation under the laws of Maryland, and Bulldog Investors, LLC
(``Bulldog'') (together with SPE, the ``Applicants''), registered under
the Investment Advisers Act of 1940, organized as a limited liability
company under the laws of Delaware, and serving as investment adviser
to the Fund.\1\
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    \1\ Applicants request that the order also apply to each other
registered closed-end investment company advised or to be advised in
the future by Bulldog or by an entity controlling, controlled by, or
under common control (within the meaning of section 2(a)(9) of the
Act) with Bulldog (including any successor in interest) (each such
entity, including Bulldog, the ``Adviser'') that in the future seeks
to rely on the order (such investment companies, together with SPE,
are collectively the ``Funds'' and, individually, a ``Fund''). A
successor in interest is limited to entities that result from a
reorganization into another jurisdiction or a change in the type of
business organization.

Filing Dates:  The application was filed on August 3, 2018, and amended
---------------------------------------------------------------------------
on November 14, 2018.

Hearing or Notification of Hearing:  An order granting the application
will be issued unless the Commission orders a hearing. Interested
persons may request a hearing by writing to the Commission's Secretary
and serving applicants with a copy of the request, personally or by
mail. Hearing requests should be received by the Commission by 5:30
p.m. on March 1, 2019, and should be accompanied by proof of service on
applicants, in the form of an affidavit or, for lawyers, a certificate
of service. Pursuant to Rule 0-5 under the Act, hearing requests should
state the nature of the writer's interest, any facts bearing upon the
desirability of a hearing on the matter, the reason for the request,
and the issues contested. Persons who wish to be notified of a hearing
may request notification by writing to the Commission's Secretary.

ADDRESSES: The Commission: Secretary, U.S. Securities and Exchange
Commission, 100 F Street NE, Washington, DC 20549-1090. Applicants:
Phillip Goldstein, Chairman, Special Opportunities Fund, Inc. c/o U.S.
Bancorp Fund Services, LLC, 615 East Michigan Street, Milwaukee, WI
53202, and Andrew Dakos, Managing Member, Bulldog Investors, LLC, Park
80 West, 250 Pehle Avenue, Suite 708, Saddle Brook, NJ 07663.

FOR FURTHER INFORMATION CONTACT:  Laura L. Solomon, Senior Counsel at
(202) 551-6915, or Kaitlin C. Bottock, Branch Chief, at<PHONE_NUMBER>
(Division of Investment Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's website by searching for the file number, or for an
applicant using the Company name box, at http://www.sec.gov/search/search.htm, or by calling<PHONE_NUMBER>.

Summary of the Application:
    1. Section 19(b) of the Act generally makes it unlawful for any
registered investment company to make long-term capital gains
distributions more than once every twelve months. Rule 19b-1 under the
Act limits to one the number of capital gain dividends, as defined in
section 852(b)(3)(C) of the Internal Revenue Code of 1986 (``Code,''
and such dividends, ``distributions''), that a registered investment
company may make with respect to any one taxable year, plus a
supplemental distribution made pursuant to section 855 of the Code not
exceeding 10% of the total amount distributed for the year, plus one
additional capital gain dividend made in whole or in part to avoid the
excise tax under section 4982 of the Code.
    2. Applicants believe that investors in certain closed-end funds
may prefer an investment vehicle that provides regular current income
through a fixed distribution policy (``Distribution Policy'').
Applicants propose that the

Fund be permitted to adopt a Distribution Policy, pursuant to which the
Fund would distribute periodically to its stockholders a fixed
percentage of the market price of the Fund's common stock at a
particular point in time or a fixed percentage of net asset value
(``NAV'') at a particular time or a fixed amount per share of common
stock, any of which may be adjusted from time to time.
    3. Applicants request an order under section 6(c) of the Act
granting an exemption from section 19(b) of the Act and rule 19b-1 to
permit a Fund to distribute periodic capital gain dividends (as defined
in section 852(b)(3)(C) of the Code) as frequently as twelve times in
any one taxable year in respect of its common stock (and as often as
specified by, or determined in accordance with the terms of, any
preferred stock issued by the Fund). Section 6(c) of the Act provides,
in relevant part, that the Commission may exempt any person or
transaction from any provision of the Act to the extent that such
exemption is necessary or appropriate in the public interest and
consistent with the protection of investors and the purposes fairly
intended by the policy and provisions of the Act.
    4. Applicants state that any order granting the requested relief
will be subject to the terms and conditions stated in the application,
which generally are designed to address the concerns underlying section
19(b) and rule 19b-1, including concerns about proper disclosures and
shareholders' understanding of the source(s) of a Fund's distributions
and concerns about improper sales practices. Among other things, such
terms and conditions require that (1) the board of directors or
trustees of the Fund (the ``Board'') review such information as is
reasonably necessary to make an informed determination of whether to
adopt the proposed Distribution Policy and that the Board periodically
review the amount of the distributions in light of the investment
experience of the Fund, and (2) that the Fund's shareholders receive
appropriate disclosures concerning the distributions.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-01531 Filed 2-7-19; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 179 (Tuesday, September 15, 2020)]
[Notices]
[Pages 57276-57279]
[FR Doc No: 2020-20252]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89792; File No. SR-OCC-2020-805]

Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of No Objection To Advance Notice Concerning Proposed Changes To
Enhance OCC's Stock Loan Close-Out Process

September 9, 2020.

I. Introduction

    On July 14, 2020, The Options Clearing Corporation (``OCC'') filed
with the Securities and Exchange Commission (``Commission'') advance
notice SR-OCC-2020-805 (``Advance Notice'') pursuant to Section
806(e)(1) of Title VIII of the Dodd-Frank Wall Street Reform and
Consumer Protection Act, entitled Payment, Clearing and Settlement
Supervision Act of 2010 (``Clearing Supervision Act'') \1\ and Rule
19b-4(n)(1)(i) \2\ under the Securities Exchange Act of 1934
(``Exchange Act'') \3\ to require Clearing Members that OCC instructs
to buy-in or sell-out securities to execute such transactions and
provide OCC notice of such action by the settlement time on the
business day after OCC gives the instruction.\4\ The Advance Notice was
published for public comment in the Federal Register on August 14,
2020,\5\ and the Commission has received no comments regarding the
changes proposed in the Advance Notice.\6\ The Commission is hereby
providing notice of no objection to the Advance Notice.
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    \1\ 12 U.S.C. 5465(e)(1).
    \2\ 17 CFR 240.19b-4(n)(1)(i).
    \3\ 15 U.S.C. 78a et seq.
    \4\ See Notice of Filing infra note 5, at 85 FR 49697.
    \5\ Securities Exchange Act Release No. 89515 (Aug. 10, 2020),
85 FR 49697 (Aug. 14, 2020) (File No. SR-OCC-2020-805) (``Notice of
Filing''). On July 14, 2020, OCC also filed a related proposed rule
change (SR-OCC-2020-008) with the Commission pursuant to Section
19(b)(1) of the Exchange Act and Rule 19b-4 thereunder (``Proposed
Rule Change''). 15 U.S.C. 78s(b)(1) and 17 CFR 240.19b-4,
respectively. In the Proposed Rule Change, which was published in
the Federal Register on July 30, 2020, OCC seeks approval of
proposed changes to its rules necessary to implement the Advance
Notice. Securities Exchange Act Release No. 89393 (Jul. 24, 2020),
85 FR 45943 (Jul. 30, 2020) (File No. SR-OCC-2020-008). The comment
period for the related Proposed Rule Change filing closed on August
20, 2020.
    \6\ Since the proposal contained in the Advance Notice was also
filed as a proposed rule change, all public comments received on the
proposal are considered regardless of whether the comments are
submitted on the Proposed Rule Change or the Advance Notice.

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II. Background 7
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    \7\ Capitalized terms used but not defined herein have the
meanings specified in OCC's Rules and By-Laws, available at https://www.theocc.com/about/publications/bylaws.jsp.
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    OCC serves as the sole clearing agency for standardized U.S.
securities options listed on Commission-registered national securities
exchanges (``listed options'').\8\ OCC also operates two programs under
which it clears stock loan transactions (the ``Stock Loan
Programs'').\9\ As described in more detail below, OCC proposes to
align the timeframes for closing out the open stock loan and non-stock
loan positions of a defaulting Clearing Member.
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    \8\ See Securities Exchange Act Release No. 85121 (Feb. 13,
2019), 84 FR 5157 (Feb. 20, 2019) (File No. SR-OCC-2015-02).
    \9\ OCC's two Stock Loan Programs are the ``Stock Loan/Hedge
Program'' and the ``Market Loan Program.'' Under its Stock Loan/
Hedge Program, OCC clears transactions initiated directly between
Clearing Members on a bilateral basis. Under its Market Loan
Program, OCC clears transactions initiated on either a broker-to-
broker basis or anonymously through the matching of bids and offers.
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    In the event of a Clearing Member default, OCC would close out the
defaulting Clearing Member's open positions, liquidate collateral, and
deposit the proceeds from such a close-out into a Liquidating
Settlement Account.\10\ Generally, OCC would seek to close out the
defaulting Clearing Member's open positions through an auction
conducted, before market open, on the day after a default occurs. Under
its rules, however, OCC may also seek to close out open positions
cleared under its Stock Loan Programs by instructing non-defaulting
Clearing Member counterparties to the open position to execute buy-in
or sell-out transactions by the end of the business day following the
default.\11\ In the event that a Clearing Member counterparty fails to
execute buy-in or sell-out transactions as instructed, OCC would
terminate the relevant stock loan positions based on end of day prices
from the business day following the default. Pursuant to the Advance
Notice, OCC proposes to change (1) the time by which buy-in or sell-out
transactions for defaulted open stock loan positions must be executed
and (2) the price at which OCC would terminate positions not closed out
through the execution of buy-in or sell-out transactions.
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    \10\ See OCC Rule 1104; available at https://www.theocc.com/getmedia/9d3854cd-b782-450f-bcf7-33169b0576ce/occ_rules.pdf. See
also Notice of Filing, 85 FR at 49698.
    \11\ ``Buy-in'' refers to a non-defaulting lender purchasing
replacement stock. ``Sell-out'' refers to a non-defaulting borrower
selling the loaned securities in order to recoup its collateral. See
Notice of Filing, 85 FR at 49697, n. 4.
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    Current rules. Under its Rule 2211 and Rule 2211A, OCC may instruct
a Clearing Member who is a party to stock loan transactions with a
defaulting Clearing Member to execute buy-in or sell-out transactions,
as applicable, with respect to each open stock borrow or loan position
of the defaulting Clearing Member.\12\ Currently, a Clearing Member so
instructed is obligated to execute the required transactions and
provide notice of such execution to OCC by the close of the business on
the day following receipt of such an instruction. If a Clearing Member
fails to execute buy-in or sell-out transactions as instructed, OCC may
terminate the relevant stock loan transactions. OCC would terminate
such transactions based on prices from the end of the day after OCC
issued buy-in or sell-out instructions (i.e., the same day by which the
Clearing Member was obligated to execute the buy-in or sell-out
transactions).
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    \12\ See OCC Rules 2211 and 2211A. Typically, OCC issues such
instructions on the day of default. See Notice of Filing, 85 FR at
49698.
---------------------------------------------------------------------------

    Proposed change to execution time. OCC proposes to amend its Rules
2211 and 2211A with regard to the time by which a Clearing Member must
execute buy-in or sell-out transactions and provide notice to OCC of
such transactions. OCC would continue to require that such transactions
be executed by or before the business day following receipt of the
instruction to execute such transaction. OCC proposes, however, to move
up the time by which the transaction must be executed from the close of
business to ``settlement time,'' which OCC's current rules define as
9:00 a.m. Central Time.\13\
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    \13\ See By-Law Article I, Section 1.S.(16); available at
https://www.theocc.com/getmedia/3309eceb-56cf-48fc-b3b3-498669a24572/occ_bylaws.pdf.
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    OCC considered requiring the execution of buy-in or sell-out
transaction by the close of business on the day it instructed a
Clearing Member to execute such transactions; however, Clearing Members
expressed a preference for setting the deadline at 9:00 a.m. Central
Time the following business day because doing so would allow a non-
defaulting Clearing Member the opportunity to trade at market
opening.\14\ Because OCC typically issues buy-in or sell-out
instructions on the day of default, the proposed rule would require
such transactions to be executed by 9:00 a.m. Central Time on the
business day following the default. The required transactions would,
therefore, be executed on the same day on which OCC seeks to close out
a defaulting Clearing Member's other positions through its auction
procedures. OCC believes allowing non-defaulting Clearing Members to
trade at market opening on the morning following default would provide
additional time to execute the buy-in and sell-out transactions in a
manner consistent with OCC's two-day liquidation assumption.\15\ The
proposed change would provide OCC with authority under its rules to
compel execution of buy-in or sell out transactions designed to close
out a defaulting Clearing Member's stock loan positions at a point in
time closer to OCC's other default management processes (i.e.,
auctions) than is currently permitted under OCC's rules.
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    \14\ See Notice of Filing, 85 FR at 49698-99.
    \15\ See Notice of Filing, 85 FR at 49699.
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    Proposed change to termination price. OCC also proposes to amend
its Rules 2211 and 2211A with regard to the price on which termination
of stock loan positions would be based if a Clearing Member fails to
execute buy-in or sell-out transactions within the required timeframes.
Under the proposal, OCC would close out such positions based on end-of-
day prices from the same day on which OCC instructed the Clearing
Member to execute buy-in or sell-out transactions (i.e., the day before
the Clearing Member was obligated to execute the buy-in or sell-out
transactions).\16\ Such a price would be the last settlement price
captured in OCC's systems prior to the time by which the non-defaulting
Clearing Member was required to execute buy-in or sell-out
transactions.\17\ OCC believes that using such a price, already
available in its system, would be superior to other options because it
would allow for an automated process not susceptible to the delays and
errors of manually pulling price information.\18\
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    \16\ For example, OCC might rely on such end-of-day prices if
Clearing Members were unable to execute buy-in or sell-out
transactions to terminate open stock loan positions during the
morning of the business day following the default because of circuit
breaker activity. The use of the end-of-day prices from the day of
default, as opposed to end-of-day prices following a full day of
trading, would provide closer alignment of market conditions for
OCC's auction and stock loan terminations than the current rules.
    \17\ See Notice of Filing, 85 FR at 49698.
    \18\ See id.
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III. Commission Findings and Notice of No Objection

    Although the Clearing Supervision Act does not specify a standard
of review for an advance notice, the stated purpose of the Clearing
Supervision Act is instructive: To mitigate systemic risk in the
financial system and promote financial stability by, among other
things, promoting uniform risk

management standards for SIFMUs and strengthening the liquidity of
SIFMUs.\19\
---------------------------------------------------------------------------

    \19\ See 12 U.S.C. 5461(b).
---------------------------------------------------------------------------

    Section 805(a)(2) of the Clearing Supervision Act authorizes the
Commission to prescribe regulations containing risk management
standards for the payment, clearing, and settlement activities of
designated clearing entities engaged in designated activities for which
the Commission is the supervisory agency.\20\ Section 805(b) of the
Clearing Supervision Act provides the following objectives and
principles for the Commission's risk management standards prescribed
under Section 805(a): \21\
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    \20\ 12 U.S.C. 5464(a)(2).
    \21\ 12 U.S.C. 5464(b).
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     To promote robust risk management;
     to promote safety and soundness;
     to reduce systemic risks; and
     to support the stability of the broader financial system.
    Section 805(c) provides, in addition, that the Commission's risk
management standards may address such areas as risk management and
default policies and procedures, among other areas.\22\
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    \22\ 12 U.S.C. 5464(c).
---------------------------------------------------------------------------

    The Commission has adopted risk management standards under Section
805(a)(2) of the Clearing Supervision Act and Section 17A of the
Exchange Act (the ``Clearing Agency Rules'').\23\ The Clearing Agency
Rules require, among other things, each covered clearing agency to
establish, implement, maintain, and enforce written policies and
procedures that are reasonably designed to meet certain minimum
requirements for its operations and risk management practices on an
ongoing basis.\24\ As such, it is appropriate for the Commission to
review advance notices against the Clearing Agency Rules and the
objectives and principles of these risk management standards as
described in Section 805(b) of the Clearing Supervision Act. As
discussed below, the Commission believes the changes proposed in the
Advance Notice are consistent with the objectives and principles
described in Section 805(b) of the Clearing Supervision Act,\25\ and in
the Clearing Agency Rules, in particular Rule 17Ad-22(e)(13).\26\
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    \23\ 17 CFR 240.17Ad-22. See Securities Exchange Act Release No.
68080 (Oct. 22, 2012), 77 FR 66220 (Nov. 2, 2012) (S7-08-11). See
also Covered Clearing Agency Standards, 81 FR 70786. The Commission
established an effective date of December 12, 2016 and a compliance
date of April 11, 2017 for the Covered Clearing Agency Standards.
OCC is a ``covered clearing agency'' as defined in Rule 17Ad-
22(a)(5).
    \24\ 17 CFR 240.17Ad-22.
    \25\ 12 U.S.C. 5464(b).
    \26\ 17 CFR 240.17Ad-22(e)(13).
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A. Consistency With Section 805(b) of the Clearing Supervision Act

    The Commission believes that the proposal contained in OCC's
Advance Notice is consistent with the stated objectives and principles
of Section 805(b) of the Clearing Supervision Act. Specifically, as
discussed below, the Commission believes that the changes proposed in
the Advance Notice are consistent with promoting robust risk
management, promoting safety and soundness, reducing systemic risks,
and supporting the stability of the broader financial system.\27\
---------------------------------------------------------------------------

    \27\ 12 U.S.C. 5464(b).
---------------------------------------------------------------------------

    The Commission believes that the proposed changes are consistent
with promoting robust risk management, in particular the management of
risks arising out of a Clearing Member default, as well as promoting
safety and soundness. As a central counterparty and SIFMU,\28\ it is
imperative that OCC maintain default management processes designed to
contain losses. As described above, OCC may, in the event of a Clearing
Member default, seek to close out stock loan positions by requiring
Clearing Members to execute buy-in or sell-out transactions while
closing out non-stock loan positions and liquidating collateral via an
auction. Pursuant to the Advance Notice, OCC proposes to more closely
align the timeframe within which buy-in and sell-out transactions would
occur with the timeframe of a default auction. In the event that such
transactions do not occur within the required timeframes, OCC further
proposes to terminate such stock loan transactions based on end of day
prices from the same day on which OCC instructed the Clearing Member to
execute buy-in or sell-out transactions. Such prices would likely
represent the last market price received before OCC would auction off
the rest of the defaulting Clearing Member's portfolio prior to the
market open on the following morning. Aligning the timeframes for
closing out stock loan positions and non-stock loan positions and
collateral would reduce the potential for significant market movements
occurring between the time by which OCC closes out positions and
liquidates collateral related to such positions. Avoiding the potential
for such market movements would, in turn, increase the likelihood that
such collateral would be sufficient to mitigate losses arising out of
the close out of stock loan positions. As such, the Commission believes
that the proposal would promote robust risk management practices at,
and the safety and soundness of, OCC, consistent with Section 805(b) of
the Clearing Supervision Act.\29\
---------------------------------------------------------------------------

    \28\ See Financial Stability Oversight Council (``FSOC'') 2012
Annual Report, Appendix A, available at https://www.treasury.gov/initiatives/fsoc/Documents/2012%20Annual%20Report.pdf.
    \29\ 12 U.S.C. 5464(b).
---------------------------------------------------------------------------

    The Commission also believes that the changes proposed in the
Advance Notice are consistent with reducing systemic risks and
promoting the stability of the broader financial system. As noted
above, OCC is the sole registered clearing agency for the U.S. listed
options markets and a SIFMU. By aligning OCC's default management
practices, the Commission believes that the proposed changes would
enhance OCC's ability to address events of Clearing Member default,
thereby increasing the likelihood that OCC could liquidate a defaulting
Clearing Member's portfolio without realizing severe credit losses.
Such losses, if realized, could be mutualized through OCC's Clearing
Fund, potentially during a period of market stress. While unavoidable
under certain circumstances, reducing the probability of loss
mutualization during periods of market stress could reduce the
transmission of financial risks arising from a Clearing Member default
to non-defaulting Clearing Members, their customers, and the broader
options market. The Commission believes that the potential to avoid
such severe credit losses would, therefore, reduce systemic risk and
support the broader financial system. As such, the Commission believes
the proposed changes are consistent with reducing systemic risks and
promoting the stability of the broader financial system as contemplated
in Section 805(b) of the Clearing Supervision Act.\30\
---------------------------------------------------------------------------

    \30\ 12 U.S.C. 5464(b).
---------------------------------------------------------------------------

    Accordingly, and for the reasons stated above, the Commission
believes the changes proposed in the Advance Notice are consistent with
Section 805(b) of the Clearing Supervision Act.\31\
---------------------------------------------------------------------------

    \31\ 12 U.S.C. 5464(b).
---------------------------------------------------------------------------

B. Consistency With Rule 17Ad-22(e)(13) Under the Exchange Act

    Rule 17Ad-22(e)(13) under the Exchange Act requires that a covered
clearing agency establish, implement, maintain, and enforce written
policies and procedures reasonably designed to ensure the covered
clearing agency has the authority and operational capacity to take
timely action to contain losses and liquidity demands and continue to
meets its obligations.\32\
---------------------------------------------------------------------------

    \32\ 17 CFR 240.17Ad-22(e)(13).

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

    As described above OCC, proposes to use its authority to alter the
time when OCC will close out a defaulting Clearing Member's open stock
loan positions. The proposed change would move the point in time by
which OCC can close out open stock loan positions closer to the point
in time by which OCC would seek to close the defaulting Clearing
Member's non-stock loan positions and liquidate the defaulting Clearing
Member's collateral via an auction. Aligning the timeframes for closing
out stock loan positions and non-stock loan positions and collateral
would reduce the potential for significant market movements occurring
between the time by which OCC closes out positions and liquidates
collateral related to such positions. Avoiding the potential for such
market movements would, in turn, increase the likelihood that such
collateral would be sufficient to mitigate losses arising out of the
close out of stock loan positions.
    OCC also proposes to terminate stock loan positions not closed out
through buy-in or sell-out transactions based on end of day prices from
the same day on which OCC instructed the Clearing Member to execute
buy-in or sell-out transactions. As described above, such prices would
likely represent the last market price received before OCC would
auction off the rest of the defaulting Clearing Member's portfolio
prior to the market open on the following morning. Similar to the
change in the time by which Clearing Members would be instructed to
execute buy-in or sell-out transactions, the proposed change in
termination price would mitigate losses arising out of the close out of
open stock loan positions by reducing the potential for significant
market movements between the close out of positions and liquidation of
related collateral. Taken together, the Commission believes that
proposed changes regarding the close out a defaulting Clearing Member's
open stock loan positions would enhance OCC's authority to take timely
action to contain losses.
    Accordingly, the Commission believes that Advance Notice would be
consistent with Rule 17Ad-22(e)(13) under the Exchange Act.\33\
---------------------------------------------------------------------------

    \33\ 17 CFR 240.17Ad-22(e)(13).
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IV. Conclusion

    It is therefore noticed, pursuant to Section 806(e)(1)(I) of the
Clearing Supervision Act, that the Commission does not object to
Advance Notice (SR-OCC-2020-805) and that OCC is authorized to
implement the proposed change as of the date of this notice or the date
of an order by the Commission approving proposed rule change SR-OCC-
2020-008 whichever is later.

    By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-20252 Filed 9-14-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: November 17, 2006 (Volume 71, Number 222)]
[Notices]
[Page 66993]
[DOCID:fr17no06-89]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

Federal Register Citation of Previous Announcement: [71 FR 66352,
November 14, 2006].

Status: Closed Meeting.

Place: 100 F Street, NE., Washington, DC.

Date and Time of Previously Announced Meeting: Monday, November 20,
2006 at 2 p.m.

Change in the Meeting: Time Change.
    The Closed Meeting scheduled for Monday, November 20, 2006 at 2
p.m. has been changed to Monday, November 20, 2006 at 10 a.m.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items. For further information and to
ascertain what, if any, matters have been added, deleted or postponed,
please contact the Office of the Secretary at<PHONE_NUMBER>.

    Dated: November 15, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. 06-9269 Filed 11-15-06; 11:00 am]

BILLING CODE 8011-01-P


[Federal Register Volume 79, Number 102 (Wednesday, May 28, 2014)]
[Notices]
[Pages 30633-30634]
[FR Doc No: 2014-12329]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Docket ID FEMA-2014-0020; OMB No. 1660-0058]

Agency Information Collection Activities: Proposed Collection;
Comment Request; Fire Management Assistance Grant Program

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: The Federal Emergency Management Agency (FEMA), as part of its
continuing effort to reduce paperwork and respondent burden, invites
the general public and other Federal agencies to take this opportunity
to comment on an extension, without change, of a currently approved
information collection. In accordance with the Paperwork Reduction Act
of 1995, this notice seeks comments concerning the Fire Management
Assistance Grant Program.

DATES: Comments must be submitted on or before July 28, 2014.

ADDRESSES: To avoid duplicate submissions to the docket, please use
only one of the following means to submit comments:
    (1) Online. Submit comments at http://www.regulations.gov under
Docket ID FEMA-2014-0020. Follow the instructions for submitting
comments.
    (2) Mail. Submit written comments to Docket Manager, Office of
Chief Counsel, DHS/FEMA, 500 C Street SW., Room 8NE, Washington, DC
20472-3100.
    All submissions received must include the agency name and Docket
ID. Regardless of the method used for submitting comments or material,
all submissions will be posted, without change, to the Federal
eRulemaking Portal at http://www.regulations.gov, and will include any
personal information you provide. Therefore, submitting this
information makes it public. You may wish to read the Privacy Act
notice that is available via the link in the footer of http://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Allen Wineland, FMAG Program Manager,
Office of Response & Recovery, FEMA,<PHONE_NUMBER> for additional
information. You may contact the Records Management Division for copies
of the proposed collection of information at facsimile number (202)
646-3347 or email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The information collection is required for
Fire Management Assistance Grant Program (FMAGP) eligibility
determinations, grants management, and compliance with other federal
laws and regulations. FEMA's regulations, at 44 CFR Part 204, specify
the information collections necessary to facilitate the provision of
assistance under the FMAGP. FMAGP was established under Section 420 of
the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42
U.S.C. 5187, as amended by section 303 of the Disaster Mitigation Act
of 2000, and authorizes the President to provide assistance to any
State or local government for the mitigation, management, and control
of

any fire on public or private forest land or grassland that threatens
such destruction as would constitute a major disaster.

Collection of Information

    Title: Fire Management Assistance Grant Program.
    Type of Information Collection: Extension, without change, of a
currently approved information collection.
    OMB Number: 1660-0058.
    FEMA Forms: FEMA Form 078-0-1, Request for Fire Management
Assistance Declaration; FEMA Form 089-0-24, Request for Fire Management
Sub-grant; FEMA Form 078-0-2, Principal Advisor's Report.
    Abstract: The information collection is required to make grant
eligibility determinations for the Fire Management Assistance Grant
Program (FMAGP). These eligibility-based grants and subgrants provide
assistance to any eligible State, Indian tribal government, or local
government for the mitigation, management, and control of a fire on
public or private forest land or grassland that is threatening such
destruction as would constitute a major disaster. The data/information
gathered in the forms is used to determine the severity of the
threatening fire, current and forecast weather conditions, and
associated factors related to the fire and its potential threat as a
major disaster.
    Affected Public: State, local, or Tribal Government.
    Number of Respondents: 178.
    Number of Responses: 553.
    Estimated Total Annual Burden Hours: 811 hours.

                                                       Estimated Annualized Burden Hours and Costs
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                     Number of                                        Total                     Total
                                     Form name/form     Number of    responses      Total      Average burden per     annual      Average       annual
       Type of respondent                number        respondents      per       Number of      response  (in     burden  (in  hourly wage   respondent
                                                                     respondent   responses          hours)           hours)        rate         cost
--------------------------------------------------------------------------------------------------------------------------------------------------------
State, Local or Indian tribal     FEMA-State                    25            4          100  0.4 hours..........           40       $52.56    $2,102.40
 government.                       Agreement and                                              (24 minutes).......
                                   Amendment.
State, Local or Indian tribal     State                         25            1           25  8 hours............          200        52.56    10,512.00
 government.                       Administrative
                                   Plan for FMAG.
State, Local or Indian tribal     Request for FMAG              25            4          100  1 hour.............          100        52.56     5,256.00
 government.                       Declaration, FEMA
                                   Form 078-0-1.
State, Local or Indian tribal     Request for FMAG              25            4          100  0.3 hours..........           30        52.56     1,576.80
 government.                       Sub-grant, FEMA                                            (18 minutes).......
                                   Form 089-0-24.
State, Local or Indian tribal     Principal Advisor's           25            4          100  3 hours............          300        52.56       15,768
 government.                       Report, FEMA Form
                                   078-0-2.
State, Local or Indian tribal     Appeal Letter......            3            1            3  1 hour.............            3        52.56       157.68
 government.
State, Local or Indian tribal     Duplication of                25            4          100  1 hour.............          100        52.56     5,256.00
 government.                       Benefits Letter.
State, Local or Indian tribal     Training Sessions..           25            1           25  1.5 hours..........           38        52.56     1,997.28
 government.                                                                                (90 minutes).......
                                                      --------------------------------------------------------------------------------------------------
    Total.......................  ...................          178  ...........          553  ...................          811  ...........    42,626.16
--------------------------------------------------------------------------------------------------------------------------------------------------------
 Note: The ``Avg. Hourly Wage Rate'' for each respondent includes a 1.4 multiplier to reflect a fully-loaded wage rate.

    Estimated Cost: The estimated annual cost to respondents for the
hour burden is $42,626.16. There are no annual costs to respondents
operations and maintenance costs for technical services. There is no
annual start-up or capital costs. The cost to the Federal Government is
$532,814.00.

Comments

    Comments may be submitted as indicated in the ADDRESSES caption
above. Comments are solicited to (a) evaluate whether the proposed data
collection is necessary for the proper performance of the agency,
including whether the information shall have practical utility; (b)
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; (c) enhance the quality, utility, and
clarity of the information to be collected; and (d) 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.

    Dated: May 21, 2014.
Charlene D. Myrthil
Director, Records Management Division, Mission Support Bureau, Federal
Emergency Management Agency, Department of Homeland Security.
[FR Doc. 2014-12329 Filed 5-27-14; 8:45 am]
BILLING CODE 9111-23-P