[Federal Register: September 12, 2007 (Volume 72, Number 176)]
[Notices]
[Page 52181]
[DOCID:fr12se07-124]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collections; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0123.

Extensions:
    Form 3; OMB Control No. 3235-0104; SEC File No. 270-125.
    Form 4; OMB Control No. 3235-0287; SEC File No. 270-126.
    Form 5; OMB Control No. 3235-0362; SEC File No. 270-323.

    Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the collections
of information summarized below. The Commission plans to submit these
existing collections of information to the Office of Management and
Budget for extension and approval.
    Under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.)
Forms 3, 4 and 5 (17 CFR 249.103, 249.104 and 249.105) are filed by
insiders of public companies that have a class of securities registered
under Section 12 of the Exchange Act (15 U.S.C. 78l). Form 3 is an
initial statement of beneficial ownership of securities, Form 4 is a
statement of changes in beneficial ownership of securities and Form 5
is an annual statement of beneficial ownership of securities.
Approximately 29,000 insiders file Form 3 annually and it takes
approximately .5 hours to prepare for a total of 14,500 annual burden
hours. Approximately 225,000 insiders file Form 4 annually and it takes
approximately .5 hours to prepare for a total of 112,500 annual burden
hours. Approximately 9,000 insiders file Form 5 annually and it takes
approximately one hour to prepare for a total of 9,000 annual burden
hours.
    Written comments are invited on: (a) Whether these proposed
collections of information are necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden imposed by the collections of information; (c) ways to
enhance the quality, utility, and clarity of the information collected;
and (d) ways to minimize the burden of the collections of information
on respondents, including through the use of automated collection
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted in writing within 60
days of this publication.
    Please direct your written comments to R. Corey Booth, Director/
Chief Information Officer, Securities and Exchange Commission, C/O
Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312;
or send an e-mail to<EMAIL_ADDRESS>
     September 5, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-17940 Filed 9-11-07; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 76, Number 153 (Tuesday, August 9, 2011)]
[Notices]
[Pages 48840-48841]
[FR Doc No: 2011-20048]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[ Project No. 739-000]

Appalachian Power Company; Notice of Authorization for Continued
Project Operation

    On June 29 2009, The Appalachian Power Company, licensee for the
Claytor Hydroelectric Project, filed an

Application for a New License pursuant to the Federal Power Act (FPA)
and the Commission's regulations thereunder. The Claytor Hydroelectric
Project is located on the New River in Pulaski County, Virginia.
    The license for Project No. 739 was issued for a period ending June
30, 2011. Section 15(a)(1) of the FPA, 16 U.S.C. 808(a)(1), requires
the Commission, at the expiration of a license term, to issue from
year-to-year an annual license to the then licensee under the terms and
conditions of the prior license until a new license is issued, or the
project is otherwise disposed of as provided in section 15 or any other
applicable section of the FPA. If the project's prior license waived
the applicability of section 15 of the FPA, then, based on section 9(b)
of the Administrative Procedure Act, 5 U.S.C. 558(c), and as set forth
at 18 CFR 16.21(a), if the licensee of such project has filed an
application for a subsequent license, the licensee may continue to
operate the project in accordance with the terms and conditions of the
license after the minor or minor part license expires, until the
Commission acts on its application. If the licensee of such a project
has not filed an application for a subsequent license, then it may be
required, pursuant to 18 CFR 16.21(b), to continue project operations
until the Commission issues someone else a license for the project or
otherwise orders disposition of the project.
    If the project is subject to section 15 of the FPA, notice is
hereby given that an annual license for Project No. 739 is issued to
the Appalachian Power Company for a period effective July 1, 2011
through June 30, 2012, or until the issuance of a new license for the
project or other disposition under the FPA, whichever comes first. If
issuance of a new license (or other disposition) does not take place on
or before June 30, 2012, notice is hereby given that, pursuant to 18
CFR 16.18(c), an annual license under section 15(a)(1) of the FPA is
renewed automatically without further order or notice by the
Commission, unless the Commission orders otherwise.
    If the project is not subject to section 15 of the FPA, notice is
hereby given that the Appalachian Power Company is authorized to
continue operation of the Claytor Hydroelectric Project, until such
time as the Commission acts on its application for a subsequent
license.

    Dated: July 29, 2011.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2011-20048 Filed 8-8-11; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 29 (Thursday, February 12, 2015)]
[Notices]
[Page 7863]
[FR Doc No: 2015-02931]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 14253-003]

Lock+ Hydro Friends Fund IV; Notice of Successive Preliminary
Permit Application Accepted for Filing and Soliciting Comments, Motions
To Intervene, and Competing Applications

    On January 20, 2015, the Lock+ Hydro Friends Fund IV filed an
application for a successive preliminary permit under section 4(f) of
the Federal Power Act proposing to study the feasibility of the
proposed USACE MSR LD 17 Project No. 14253-003, to be located at the
existing Mississippi River Lock and Dam No. 17 on the Mississippi
River, near the city of New Boston, in Mercer County, Illinois and
Louisa County, Iowa. The Mississippi River Lock and Dam No. 17 is owned
by the United States government and operated by the Army Corps of
Engineers. The sole purpose of a preliminary permit, if issued, is to
grant the permit holder priority to file a license application during
the permit term. A preliminary permit does not authorize the permit
holder to perform any land-disturbing activities or otherwise enter
upon lands or waters owned by others without the owners' express
permission.
    The proposed project would consist of: (1) Three new 109-foot-wide
by 40-foot-high steel lock frame modules each containing ten 650-
kilowatt hydropower turbines having a total combined generating
capacity of 19.5 megawatts; (2) one new 109-foot-wide and one new 220-
foot-wide tailrace extending 75-150 feet downstream; (3) a new 25-foot
by 50-foot switchyard; (4) a new intake structure of undetermined size;
(5) a new 6-mile-long, 69-kilovolt transmission line; and (6)
appurtenant facilities. The project would have an estimated annual
generation of 119,655 megawatt-hours.
    Applicant Contact: Mr. Wayne F. Krouse, P.O. Box 43796, Birmingham,
AL 35243;<PHONE_NUMBER>, extension 709.
    FERC Contact: Tyrone A. Williams,<PHONE_NUMBER>.
    Deadline for filing comments, motions to intervene, competing
applications (without notices of intent), or notices of intent to file
competing applications: 60 days from the issuance of this notice.
Competing applications and notices of intent must meet the requirements
of 18 CFR 4.36. The Commission strongly encourages electronic filing.
Please file comments, motions to intervene, notices of intent, and
competing applications using the Commission's eFiling system at http://www.ferc.gov/docs-filing/efiling.asp. Commenters can submit brief
comments up to 6,000 characters, without prior registration, using the
eComment system at http://www.ferc.gov/docs-filing/ecomment.asp. You
must include your name and contact information at the end of your
comments. For assistance, please contact FERC Online Support at
<EMAIL_ADDRESS>(866) 208-3676 (toll free), or (202) 502-
8659 (TTY). In lieu of electronic filing, please send a paper copy to:
Secretary, Federal Energy Regulatory Commission, 888 First Street NE.,
Washington, DC 20426. The first page of any filing should include
docket number P-14253-003.
    More information about this project, including a copy of the
application, can be viewed or printed on the ``eLibrary'' link of
Commission's Web site at http://www.ferc.gov/docs-filing/elibrary.asp.
Enter the docket number (P-14253) in the docket number field to access
the document. For assistance, contact FERC Online Support.

    Dated: February 5, 2015.
 Kimberly D. Bose,
 Secretary.
[FR Doc. 2015-02931 Filed 2-11-15; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 83, Number 104 (Wednesday, May 30, 2018)]
[Notices]
[Page 24781]
[FR Doc No: 2018-11524]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP18-484-000]

Enable Mississippi River Transmission, LLC; Notice of Request
Under Blanket Authorization

    Take notice that on May 14, 2018, Enable Mississippi River
Transmission, LLC (MRT), 1111 Louisiana Street, Houston, Texas 77002,
filed a prior notice application pursuant to sections 157.205, and
157.208(f)(2) of the Federal Energy Regulatory Commission's
(Commission) regulations under the Natural Gas Act (NGA), and MRT's
blanket certificate issued in Docket No. CP82-489-000. MRT requests
authorization to decrease the maximum allowable operating pressure
(MAOP) of its Line A-86 located in Jefferson County, Missouri. The
decrease in the MAOP is required to maintain Department of
Transportation compliance, all as more fully set forth in the
application, which is open to the public for inspection. The filing may
also be viewed on the web at http://www.ferc.gov using the ``eLibrary''
link. Enter the docket number excluding the last three digits in the
docket number field to access the document. For assistance, contact
FERC at [email protected] or call toll-free,<PHONE_NUMBER> or
TTY,<PHONE_NUMBER>.
    Any questions regarding this application should be directed to Lisa
Yoho, Sr. Director Regulatory & FERC Compliance, Enable Mississippi
River Transmission, P.O. Box 1336, Houston, Texas 77251 or phone (346)
701-2539 or fax<PHONE_NUMBER> or by email
[email protected].
    Any person or the Commission's staff may, within 60 days after
issuance of the instant notice by the Commission, file pursuant to Rule
214 of the Commission's Procedural Rules (18 CFR 385.214) a motion to
intervene or notice of intervention and pursuant to Section 157.205 of
the regulations under the NGA (18 CFR 157.205), a protest to the
request. If no protest is filed within the time allowed therefore, the
proposed activity shall be deemed to be authorized effective the day
after the time allowed for filing a protest. If a protest is filed and
not withdrawn within 30 days after the allowed time for filing a
protest, the instant request shall be treated as an application for
authorization pursuant to section 7 of the NGA.
    Pursuant to section 157.9 of the Commission's rules, 18 CFR 157.9,
within 90 days of this Notice the Commission staff will either:
complete its environmental assessment (EA) and place it into the
Commission's public record (eLibrary) for this proceeding, or issue a
Notice of Schedule for Environmental Review. If a Notice of Schedule
for Environmental Review is issued, it will indicate, among other
milestones, the anticipated date for the Commission staff's issuance of
the final environmental impact statement (FEIS) or EA for this
proposal. The filing of the EA in the Commission's public record for
this proceeding or the issuance of a Notice of Schedule for
Environmental Review will serve to notify federal and state agencies of
the timing for the completion of all necessary reviews, and the
subsequent need to complete all federal authorizations within 90 days
of the date of issuance of the Commission staff's FEIS or EA.
    Persons who wish to comment only on the environmental review of
this project should submit an original and two copies of their comments
to the Secretary of the Commission. Environmental commenters will be
placed on the Commission's environmental mailing list, will receive
copies of the environmental documents, and will be notified of meetings
associated with the Commission's environmental review process.
Environmental commenters will not be required to serve copies of filed
documents on all other parties. However, the non-party commenter will
not receive copies of all documents filed by other parties or issued by
the Commission (except for the mailing of environmental documents
issued by the Commission) and will not have the right to seek court
review of the Commission's final order.
    The Commission strongly encourages electronic filings of comments,
protests and interventions in lieu of paper using the ``eFiling'' link
at http://www.ferc.gov. Persons unable to file electronically should
submit an original and 5 copies of the protest or intervention to the
Federal Energy Regulatory Commission, 888 First Street NE, Washington,
DC 20426.

    Dated: May 23, 2018.
Kimberly D. Bose,
Secretary.
[FR Doc. 2018-11524 Filed 5-29-18; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 84, Number 143 (Thursday, July 25, 2019)]
[Notices]
[Pages 35892-35898]
[FR Doc No: 2019-15777]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86413; File No. SR-ICEEU-2019-012]

Self-Regulatory Organizations; ICE Clear Europe Limited; Notice
of Filing of Proposed Rule Change, Security-Based Swap Submission or
Advance Notice Relating to the ICE Clear Europe Treasury and Banking
Services Policy, Liquidity Management Procedures, Investment Management
Procedures and Unsecured Credit Limits Procedures

July 19, 2019.
    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 July 5, 2019, ICE Clear Europe Limited (``ICE Clear Europe'' or the
``Clearing House'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule changes described in Items I, II and
III below, which Items have been prepared by ICE Clear Europe. 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.
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change, Security-Based Swap Submission, or Advance Notice

    ICE Clear Europe proposes to adopt a new Treasury and Banking
Services Policy, new Liquidity Management Procedures and Investment
Management Procedures and revised Unsecured Credit Limits Procedures
(collectively, the ``Treasury Documents''). (The Investment Management
Procedures, Liquidity Management Procedures and Unsecured Credit Limits
Procedures are referred to herein as the ``Procedures Documents''.) The
Treasury Documents would replace the existing Liquidity Risk Management
Framework, Liquidity Plan, Investment Management Policy and Approved
Financial Institutions Policy (the ``Existing Documents''). The
revisions would not involve any changes to the ICE Clear Europe
Clearing Rules or Procedures.\3\
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    \3\ Capitalized terms used but not defined herein have the
meanings specified in the ICE Clear Europe Clearing Rules (the
``Rules'').
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II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change, Security-Based Swap Submission or
Advance Notice

    In its filing with the Commission, ICE Clear Europe included
statements concerning the purpose of and basis for the proposed rule
change and discussed any comments it received on the proposed rule
change. The text of these statements may be examined at the places
specified in Item IV below. ICE Clear Europe has prepared summaries,
set forth in sections (A), (B), and (C) below, of the most significant
aspects of such statements.

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change, Security-Based Swap Submission or
Advance Notice

(a) Purpose
    ICE Clear Europe is proposing to adopt the new Treasury Documents
in order to:
     Simplify and streamline the documentation;
     remove inaccuracies and unused elements;
     remove elements that are documented or managed elsewhere;
     better separate between policy-level documentation
(Policies) and implementation-level documentation (Procedures); and
     improve operational flexibility.
    Generally, other than certain additional liquidity review
procedures as discussed below, the changes would not alter the existing
substantive treasury and banking practices of the Clearing House.
Broadly, the proposed amendments would combine the high level policy
elements of the Existing Documents into the Treasury and Banking
Services Policy. The supporting detail for the policy would be in the
new Procedures Documents. Following adoption of the Treasury Documents,
the Existing Documents would be retired.
Treasury and Banking Services Policy
    The Treasury and Banking Services Policy (the ``Policy'') would set
out the overall principles applied to the ICE Clear Europe cash and
collateral management functions for Clearing Member (``CM'') assets.
The Treasury and Banking Services Policy would replace the existing
Liquidity Risk Management Framework and contain policy-level
information relating to liquidity risk management and investment
management.
a. Treasury and Banking Services
    The proposed Policy would state that the treasury and banking
services (``TBS'') department is responsible for cash and collateral
management functions for CM assets including relating to liquidity and
cash margin investment and that these functions are subject to
applicable regulations and the Rules and Procedures, particularly the
Finance Procedures. The Policy would further outline certain procedures
relating to initial margin (``IM''), guaranty fund (``GF'')
contributions and variation margin (``VM'') and the manner in which CMs
would cover these liabilities.
b. Cash Management
    The proposed Policy would address the manner in which ICE Clear
Europe transfers cash in the relevant currencies intraday through an
Assured Payment System (``APS'') into its `concentration banks' and
invests or secures such cash at end of day. ICE Clear Europe uses
multiple APS banks which are approved financial institutions that have
committed to meet certain technical and operational requirements.
Approved financial institutions are financial service providers that
have been approved by the Credit Risk team and meet eligibility and
monitoring criteria set out in the Unsecured Credit Limits Procedures.
c. Liquidity Risk
    The proposed Policy would describe the sources of liquidity risks
and, at a high level, how liquidity shortfalls may be addressed. It
would further set out ICE Clear Europe's liquidity risk management
objective to maintain sufficient liquid resources in all relevant
currencies to meet its payment obligations as they come due and its
strategy to achieve this objective. Its strategy would entail
structuring and sequencing its cash flows to minimize liquidity risks,
monitoring intraday cash inflows and outflows to ensure payments are
met, and running daily liquidity stress tests (``LSTs'').
    The Policy would set out that ICE Clear Europe runs daily liquidity
monitoring and stress testing to: Measure and monitor its liquidity
position on an ongoing basis and assess its potential immediate and
future liquidity needs across a range of extreme but plausible market
scenarios. The LSTs are set out in the LST Model Documentation and
would be reviewed periodically as would be set out in the Liquidity
Management Procedures. Models underpinning the LSTs would be reviewed
in accordance with ICE Clear Europe's Model Risk Governance Framework.
d. Investment of Cash
    The proposed Policy would set out ICE Clear Europe's investment
management objective to safeguard the principal of its CMs' cash,
maintain sufficient liquidity to cover its payment obligations and
obtain a reasonable rate of return. Its related strategy would be to:
(i) Manage its investment portfolio to ensure it has sufficient
liquidity; (ii) rebalance its investment portfolio as a result of the
LSTs and available liquidity to ensure enough cash is available to meet
daily payment obligations; and (iii) invest or secure cash after the
relevant deadline has passed for CMs to withdraw or exchange excess
cash. The proposed Policy would set out the criteria to determine
whether investment instruments are acceptable, including requiring: (i)
That the market for the instruments have sufficient price history and
be sufficiently liquid and transparent; and (ii) that the instrument
not be issued by a CM or entity that is part of the same group as a CM
and not be issued by a CCP or entity providing services critical to ICE
Clear Europe's functioning. The proposed Policy would further require
that investments are in sufficiently liquid currencies, diversified
across counterparties, subject to credit criteria and, with respect to
reverse repo collateral, subject

to suitable haircuts. Parties and employees involved in the investment
process would be required to refrain from conflicts of interest and ICE
Clear Europe would be required to keep appropriate records.
e. Collateral Management
    Pursuant to the proposed Policy, CMs could substitute cash covering
IM or GF requirements with collateral or cash in a different currency,
subject to constraints set out in the ICE Clear Europe Finance
Procedures. Whenever practicable, ICE Clear Europe would hold accounts
with Central Securities Depositories (``CSDs''). Assets of individual
CMs and, where appropriate, clients with individually segregated
assets, would be required to be readily identifiable in ICE Clear
Europe's systems.
f. Governance
    The Policy would also address procedures for ensuring that the
proposed Treasury Documents remain up-to-date and are reviewed in
accordance with ICE Clear Europe's governance processes, as well as for
handling exceptions. The policy would also address reporting of
material breaches or unapproved deviations from the Policy to the Head
of Department, a senior member of the Risk Oversight Department and a
senior member of the Compliance Department who would together will
determine if further escalation should be made to relevant senior
executives, the Board and/or competent authorities.
Liquidity Management Procedures
(i) Proposed Amendments
    Pursuant to the proposed amendments, the Liquidity Management
Procedures would replace the current Liquidity Plan. The procedures
would provide a number of improvements over existing liquidity risk
management practices and in particular address the issues described
below.
     Pursuant to the proposed amendments, a haircut would be
applied to the liquidation value of securities owned outright as part
of the LSTs.
     ICE Clear Europe would more clearly and concisely document
its liquidity strategy including a clear explanation of how it manages
its so-called ``cover 2'' requirements. Further, the LST scenarios
would no longer be detailed in the Liquidity Management Procedures but
would be moved to LST Model Documentation that can be updated more
flexibly as needed.
     The amendments would clarify the distinction between
liquidity tools used to address a technical obstacle to making payments
and those used to address a default or investment loss.
     Currencies would no longer be distinguished as material or
non-material, and instead ICE Clear Europe would look to the size of
the relevant obligation for LST purposes.
     The Liquidity Management Procedures would explicitly
document ICE Clear Europe's approach to reviewing scenarios and
assumptions underlying its LSTs.
     The Liquidity Management Procedures would address
settlements and deliveries in more detail including how this is
additive to defaulting member exposure and how this risk is managed.
     The Liquidity Management Procedures would explicitly
document periodic reviews on a monthly basis, including consideration
of emerging risks.
     The Liquidity Management Procedures would establish and
document a process for formal governance review and challenge of the
assumptions for the hypothetical LST scenarios (e.g., systemic or
market infrastructure scenarios), with a link to emerging risks.
     The cover 1 liquidity stress scenario required under
Commission rules,\4\ based on qualifying liquid resources under such
rules, would be referenced in the Liquidity Management Procedures and
documented in the LST Model Documentation.
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    \4\ 17 CFR 240.17Ad-22(e)(7).
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     The procedures would recognize that ICE Clear Europe has
determined that `other prearranged funding arrangements' are highly
reliable even in extreme but plausible market conditions.
     The procedures would memorialize the process of conducting
comprehensive periodic reviews to evaluate LSTs and stress scenarios.
(ii) Summary of Other Aspects of Liquidity Management Procedures
(A) Overview
    The proposed Liquidity Management Procedures would generally set
out how ICE Clear Europe would address:
     Monitoring and management of liquidity risks, liquidity
needs and liquidity resources; and
     Access to liquidity resources, including in case of
liquidity shortfalls.
    The procedures would be structured to address:
     ICE Clear Europe's payment obligations;
     Management and monitoring of ICE Clear Europe's liquidity
needs and maintenance of sufficient liquid resources;
     Daily assessment and valuation of liquid assets;
     Sources and mitigations of liquidity risk; timescales of
liquid resources;
     Substitution of cash with non-cash collateral and
withdrawal of excess margin by CMs;
     Liquidity shortfalls;
     Replenishment of liquidity in stress events;
     Periodic reviews of liquidity stress tests and liquidity
providers; and
     Governance, breach management and exception handling (in
the same manner as under the Policy).
(B) Payment Obligations
    This section of the proposed procedures would set out the sources
of payment obligations relevant to liquidity management, which are: (i)
Paying VM to those with positive P&L on their trades, (ii) paying
delivery or settlement monies when trades deliver or settle; and (iii)
returning surplus IM or other margin to individual CMs. ICE Clear
Europe would only have a liquidity need not covered in the ordinary
course where there has been a firm default or a technical issue at a
financial services provider. The proposed procedures would explain the
various structural arrangements that ICE Clear Europe has in place to
minimize liquidity risk.
(C) Management and Monitoring of Liquidity Needs
    The proposed procedures would explain that ICE Clear Europe runs a
range of LSTs each day as set out in the LST Model Documentation, which
covers CM default scenarios as well as defaults of financial service
providers and defaults with other operational outflows. The Clearing
Risk team develops market scenarios and calculates stress losses to set
the required levels of IM and GF for CMs and accounts which the TBS
department then aggregates across different operational scenarios to
set the level of liquid resources ICE Clear Europe must maintain.
Potential investment losses are also calculated should the defaulting
CMs also be investment counterparties, as well as cash outflows due to
deliveries and settlements. Throughout the day, the TBS department
monitors outstanding payment requests to identify failures which could
lead to default using exception-based monitoring tools, as well as the
current level of available liquid resources compared to the level
needed within currency and maturity buckets.

(D) Sources and Mitigation of Liquidity Risk
    The proposed procedures would list specific sources of default
liquidity risk, and the means through which ICE Clear Europe generally
manages such risks.
(E) Timescale of Liquidity Resources
    The proposed procedures note that for liquidity management
monitoring, ICE Clear Europe would only include resources that can be
drawn upon on a same day basis, including cash, investments maturing
that day, sovereigns with different maturities that can be liquidated
that day, highly reliable uncommitted operating lines and committed
repo lines. Treasuries held as collateral against reverse repo
agreements have been determined to be highly reliable, even in extreme
but plausible market conditions, because ICE Clear Europe would only
accept those of high credit quality and subject them to haircuts in its
LSTs which were developed, including stressed market conditions.
(F) Liquidity Shortfalls
    The proposed procedures would describe how in a default situation,
liquidity is generated through the default management waterfall and ICE
Clear Europe could use its existing pool of cash first to cover payment
obligations as this may be more readily available. In a liquidity
shortfall situation due to a technical issue, ICE Clear Europe could
use its uncommitted and committed lines or liquidate non-cash
collateral.
(G) Replenishment of Liquidity in Stress Events
    The procedures would explain that with respect to replenishment,
provided losses would be covered by the default waterfall, (i) if the
losses were covered by the margin and GF contribution of the defaulting
CM, there would be no need for replenishment, and (ii) if part of the
GF contributions of the other CMs or ICE Clear Europe's GF contribution
were used, then after contribution requirements are reassessed, they
would be replenished as set out in the Rules. Where additional
liquidity would be required due to a technical issue, it would
automatically be remedied upon resolution of the issue as it would
involve no overall reduction in liquidity resources.
(H) Liquidity Stress Tests
    The LSTs would assess the impact on sources of liquidity and
liquidity exposures in both currency and time in a broad range of
market and operational scenarios. To assess them, the TBS, Clearing
Risk and Risk Oversight departments would meet monthly to analyze and
discuss: Whether to include any new or emerging risks in the stress
tests, the adequacy and assumptions of LST scenarios, the adequacy of
stress test inputs, acceptance of current LST scenario calibrations,
performance of liquidity providers, annual due diligence reviews of
liquidity providers to assess their ability to perform their role as
such, and annual testing of sources of liquidity. In stressed market
conditions, the TBS, Clearing Risk and Risk Oversight departments would
meet more frequently than monthly to ensure LSTs and stress scenarios
are fit for purpose. The above analysis of LSTs would be periodically
reported to a Board-level committee.
Investment Management Procedures
    Pursuant to the proposed amendments, the Investment Management
Procedures would contain the procedures-level information from the
current Investment Management Policy, setting out the permitted
investments when investing or securing cash received from CMs either as
GF contributions, IM or other types of margin. The proposed procedures
would also set out constraints on these investments, including
concentration limits, credit ratings and maturity limits and any
additional considerations in times of insufficient market supply of
approved investments. The procedures would set out the investment
management objective and investment currencies (EUR, GDP, and USD).
    With respect to authorized investments in times of normal supply,
pursuant to the proposed procedures: (i) Investments could only be made
with approved financial institutions; (ii) at least 50% of the
portfolio in each currency should be invested in overnight reverse
repurchase (``repo'') agreements; (iii) non-overnight investments
should have a variety of maturity dates; (iv) customer funds of FCM/BD
Clearing Members would be required to be segregated from those of other
CMs, to be held in permitted depositories for such customer funds
(consistent with applicable regulations) and to be invested only in
overnight reverse repos and direct purchases of U.S. sovereign
obligations with permitted counterparties for such transactions under
applicable regulations; and (v) purchased securities would be required
to be held until maturity to minimize market risk impact. The proposed
procedures would contain a table setting out the authorized
instruments, concentration limits, maximum maturity and minimum credit
ratings or allowed entities. The TBS department would monitor adherence
to the investment criteria.
    The proposed procedures would set out additional considerations for
reverse repo agreements requiring: (i) At least four investment
counterparties in each currency; (ii) consideration by the Head of the
TBS department, or their delegate, in the event of a counterparty
downgrade, as to whether it may be more prudent to liquidate or hold a
trade until maturity; (iii) deeming repo agreements to have a maturity
equal to the schedule repurchase date of the underlying securities, or
where the agreement is subject to a demand, the applicable notice
period; and (iv) collection of only certain collateral deemed
acceptable and subject to a predetermined haircut.
    In times of insufficient market supply, U.S. government agency
securities and supranational obligations would also be acceptable for
investment and repo agreement collateral. Further, ICE Clear Europe
would no longer need to invest at least 50% in overnight repurchase
agreements and concentration limits would no longer apply. In periods
of lower overnight supply, investments should be allocated to other
investment types according to the order of preference set out in the
procedures.
    Breaches of concentration limits would be escalated to the Risk
Oversight Department and the Compliance team as well as reported to the
relevant regulators through regular reports. The investment portfolio
would be rebalanced to return within the concentration limits. The TBS
department would, in conjunction with the Risk Oversight Department and
Clearing Risk team, review the concentration limits every quarter. The
procedures would also address procedure governance, breach management
and exception handling (in the same manner as under the Policy).
Unsecured Credit Limits Procedures
    The proposed revised Unsecured Credit Limits Procedures would
support aspects of the Policy, the Investment Management Procedures and
the Counterparty Rating Systems. The amendments to the procedures would
address the eligibility requirements for counterparties and monitoring
procedures for unsecured exposure.
(i) Eligibility Methodology
    The proposed amendments to the procedures would require that in
order for a legal entity to be eligible as a counterparty or financial
service provider, it would need to be regulated

by a competent authority and comply with the applicable minimum
external rating and maximum ICE Clear Europe rating for such entity
type as set out in the procedures. If the entity is a repo provider, it
would need to be organized in the US or EU countries satisfying the
minimum external rating.
(ii) Monitoring
    The proposed procedures would require daily monitoring of overnight
unsecured exposure at the legal entity level. Subject to data
availability and technology, overnight unsecured exposures relative to
unsecured limits would also be monitored at least weekly. Other
exposures and aggregation with other Legal Entities of the same group
of companies would be monitored at least monthly. The procedures would
also address procedure governance, breach management and exception
handling (in the same manner as under the Policy).
(b) Statutory Basis
    ICE Clear Europe believes that the proposed amendments are
consistent with the requirements of Section 17A of the Act \5\ and the
regulations thereunder applicable to it. In particular, Section
17A(b)(3)(F) of the Act \6\ requires, among other things, that the
rules of a clearing agency be designed to promote the prompt and
accurate clearance and settlement of securities transactions and, to
the extent applicable, derivative agreements, contracts, and
transactions, the safeguarding of securities and funds in the custody
or control of the clearing agency or for which it is responsible, and
the protection of investors and the public interest. The proposed
Treasury Documents are intended to consolidate and clarify certain
existing policies and procedures relating to treasury operations and
liquidity management. Except as noted above, the amendments would not
generally change existing practices, but in ICE Clear Europe's view the
revised documentation would facilitate ongoing treasury risk and
liquidity risk management by the Clearing House, so that the Clearing
House would be able to meet its short-term financial obligations in the
event of clearing member defaults or other liquidity stress events.
These processes would therefore promote overall Clearing House risk
management and facilitate the prompt and accurate clearing of cleared
contracts and protect investors and the public interest in the sound
operations of the Clearing House, consistent with the requirements of
Section 17A(b)(3)(F).\7\ Through facilitating ongoing treasury risk and
liquidity risk management that enables the Clearing House to meet its
short-term financial obligations in the event of clearing member
defaults or other liquidity stress events, the amendments may also
enhance the safeguarding of securities and funds in the custody or
control of the Clearing House or for which it is responsible.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78q-1.
    \6\ 15 U.S.C. 78q-1(b)(3)(F).
    \7\ 15 U.S.C. 78q-1(b)(3)(F).
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    The proposed Treasury Documents are further consistent with the
requirements of Rule 17Ad-22(e)(3)(i) and (ii) \8\ through generally
strengthening ICE Clear Europe's risk management framework for managing
liquidity risks, including setting out in detail how such risks are
monitored and managed, and addressing the possibility of recovery
should other mechanisms to address liquidity resource shortfalls fail.
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    \8\ 17 CFR 240.17Ad-22(e)(3)(i)-(ii). The rule states that
``[e]ach covered clearing agency shall establish, implement,
maintain and enforce written policies and procedures reasonably
designed to, as applicable: [m]aintain a sound risk management
framework for comprehensively managing legal, credit, liquidity,
operational, general business, investment, custody, and other risks
that arise in or are borne by the covered clearing agency, which:
    (i) Includes risk management policies, procedures, and systems
designed to identify, measure, monitor, and manage the range of
risks that arise in or are borne by the covered clearing agency,
that are subject to review on a specified periodic basis and
approved by the board of directors annually;
    (ii) Includes plans for the recovery and orderly wind-down of
the covered clearing agency necessitated by credit losses, liquidity
shortfalls, losses from general business risk, or any other
losses;''
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    The proposed Treasury Documents are also consistent with the
requirements of Rule 17Ad-22(e)(7)(i) and (ii) and Rule 17Ad-22(a)(14)
\9\ which require ICE Clear Europe to maintain sufficient qualifying
liquid resources. In compliance with this requirement, the proposed
Treasury Documents would document ICE Clear Europe's procedures for
holding liquid resources in the relevant currencies to effect same-day
settlement payment obligations under a wide range of scenarios. As
would be described in the proposed Liquidity Management Procedures, the
LST scenarios used to test resources are designed to cover the default
of at least the two CMs with the largest exposure to ICE Clear Europe,
in extreme but plausible market conditions, together with defaults of
financial service providers and other operational outflows. The
Liquidity Management Procedures would also expressly address the
scenario of the default of the family with the largest aggregate
payment obligation for ICE Clear Europe, in extreme but plausible
market conditions, as required under Commission Rule 17Ad-22(e)(7).\10\
As would be described in the Liquidity Management Procedures, if
necessary, ICE Clear Europe has uncommitted FX lines to enable it to
make the necessary currency conversions and committed and uncommitted
repo facilities to obtain cash from securities positions. It would also
apply haircuts to any non-cash collateral or cash in currencies other
than required currencies in calculating available liquid resources. The
TBS department would monitor liquid resource requirements relative to
exposures throughout the day to further ensure that ICE Clear Europe
would be able to meet its liquidity requirements. In compliance with
the definition of ``qualifying liquid resources,'' the Liquidity
Management Procedures would require that ICE Clear Europe only include
resources which would be cash or which could be transferred into

cash or could be drawn upon on a same day basis, specifically listing
appropriate resources. In further compliance with Rule 17Ad-
22(e)(5),\11\ ICE Clear Europe sets and enforces appropriately
conservative haircuts with respect to the assets it accepts as
collateral as would be described in the Liquidity Management
Procedures.
---------------------------------------------------------------------------

    \9\ 17 CFR 240.17Ad-22(e)(7)(i)-(ii). The rule states that
``[e]ach covered clearing agency shall establish, implement,
maintain and enforce written policies and procedures reasonably
designed to, as applicable: [e]ffectively measure, monitor, and
manage the liquidity risk that arises in or is borne by the covered
clearing agency, including measuring, monitoring, and managing its
settlement and funding flows on an ongoing and timely basis, and its
use of intraday liquidity by, at a minimum, doing the following:
    (i) Maintaining sufficient liquid resources at the minimum in
all relevant currencies to effect same-day and, where appropriate,
intraday and multiday settlement of payment obligations with a high
degree of confidence under a wide range of foreseeable stress
scenarios that includes, but is not limited to, the default of the
participant family that would generate the largest aggregate payment
obligation for the covered clearing agency in extreme but plausible
market conditions;
    (ii) Holding qualifying liquid resources sufficient to meet the
minimum liquidity resource requirement under paragraph (e)(7)(i) of
this section in each relevant currency for which the covered
clearing agency has payment obligations owed to clearing members;
    17 CFR 240.17Ad-22(a)(14) Qualifying liquid resources means, for
any covered clearing agency, the following, in each relevant
currency:
    (i) Cash held either at the central bank of issue or at
creditworthy commercial banks;
    (ii) Assets that are readily available and convertible into cash
through prearranged funding arrangements, such as:
    (A) Committed arrangements without material adverse change
provisions, including:
    (1) Lines of credit;
    (2) Foreign exchange swaps; and
    (3) Repurchase agreements; or
    (B) Other prearranged funding arrangements determined to be
highly reliable even in extreme but plausible market conditions by
the board of directors of the covered clearing agency following a
review conducted for this purpose not less than annually; and
    (iii) Other assets that are readily available and eligible for
pledging to (or conducting other appropriate forms of transactions
with) a relevant central bank, if the covered clearing agency has
access to routine credit at such central bank in a jurisdiction that
permits said pledges or other transactions by the covered clearing
agency.
    \10\ 17 CFR 240.17Ad-22(e)(7).
    \11\ 17 CFR 240.17Ad-22(e)(5). The rule states that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable: [l]imit the assets it accepts as collateral to those
with low credit, liquidity, and market risks, and set and enforce
appropriately conservative haircuts and concentration limits if the
covered clearing agency requires collateral to manage its or its
participants' credit exposure; and require a review of the
sufficiency of its collateral haircuts and concentration limits to
be performed not less than annually.''
---------------------------------------------------------------------------

    The Treasury Documents are similarly compliant with Rule 17Ad-
22(e)(16) \12\ and would require assets be held in a manner that
minimizes risk of loss and invested in assets with minimal liquidity
risk. The Investment Management Procedures would set out detailed
requirements to ensure that investment risks are minimized. Only
certain investments would be permitted and they would be subject to
constraints such as concentration limits, credit ratings, currencies
and maturity limits.
---------------------------------------------------------------------------

    \12\ 17 CFR 240.17Ad-22(e)(16). The rule states that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable: [s]afeguard the covered clearing agency's own and its
participants' assets, minimize the risk of loss and delay in access
to these assets, and invest such assets in instruments with minimal
credit, market, and liquidity risks.''
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    Rules 17Ad-22(e)(7)(iii) and (e)(9) \13\ require clearing agencies,
where possible, to access accounts and services at a central bank. As
would be described in the proposed Treasury Documents, ICE Clear Europe
uses central banks for EUR and GBP deposits, and uses highly rated
commercial banks as concentration banks for USD to minimize the risk of
concentration bank defaults (as it is not eligible to maintain a USD
account with the Federal Reserve). Investments are made as soon as
possible after the deadline for CM withdrawals or exchanges of margin
to further manage custody related risks.
---------------------------------------------------------------------------

    \13\ 17 CFR 240.17Ad-22(e)(7)(iii). The rule states that
``[e]ach covered clearing agency shall establish, implement,
maintain and enforce written policies and procedures reasonably
designed to, as applicable: [e]ffectively measure, monitor, and
manage the liquidity risk that arises in or is borne by the covered
clearing agency, including measuring, monitoring, and managing its
settlement and funding flows on an ongoing and timely basis, and its
use of intraday liquidity by, at a minimum, doing the following:
    (iii) Using the access to accounts and services at a Federal
Reserve Bank, pursuant to Section 806(a) of the Payment, Clearing,
and Settlement Supervision Act of 2010 (12 U.S.C. 5465(a)), or other
relevant central bank, when available and where determined to be
practical by the board of directors of the covered clearing agency,
to enhance its management of liquidity risk;'' maintain and enforce
written policies and procedures reasonably designed to, as
applicable: [c]onduct its money settlements in central bank money,
where available and determined to be practical by the board of
directors of the covered clearing agency, and minimize and manage
credit and liquidity risk arising from conducting its money
settlements in commercial bank money if central bank money is not
used by the covered clearing agency.''
---------------------------------------------------------------------------

    Rule 17Ad-22(e)(7)(iv) \14\ requires clearing agencies to undertake
due diligence to confirm their liquidity providers have sufficient
information to understand the risks and have the capacity to perform
their liquidity commitments. As would be described in the proposed
Treasury Documents, ICE Clear Europe uses multiple APS banks and
ensures that they sign contracts committing to meet certain technical
and operational requirements to confirm that these parties understand
the risks. They must also be financial service providers that have been
approved by the Credit Risk team and meet eligibility, credit limit and
monitoring criteria as would be described in the Unsecured Credit
Limits Procedures.
---------------------------------------------------------------------------

    \14\ 17 CFR 240.17Ad-22(e)(7)(iv). The rule states that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable: [e]ffectively measure, monitor, and manage the liquidity
risk that arises in or is borne by the covered clearing agency,
including measuring, monitoring, and managing its settlement and
funding flows on an ongoing and timely basis, and its use of
intraday liquidity by, at a minimum, doing the following:
    (iv) Undertaking due diligence to confirm that it has a
reasonable basis to believe each of its liquidity providers, whether
or not such liquidity provider is a clearing member, has:
    (A) Sufficient information to understand and manage the
liquidity provider's liquidity risks; and
    (B) The capacity to perform as required under its commitments to
provide liquidity to the covered clearing agency;
---------------------------------------------------------------------------

    In compliance with the liquid resource stress testing requirements
of Rule 17Ad-22(e)(7)(vi),\15\ as would be described in the proposed
Treasury Documents, ICE Clear Europe runs daily liquidity stress
testing to measure and monitor its liquidity position and assess the
impact on sources of liquidity and liquidity exposures in both currency
and time in a broad range of market and operational scenarios. The TBS,
Clearing Risk and Risk Oversight departments would meet monthly to
assess the tests and more frequently in stressed market conditions. The
LSTs are set out in the LST Model Documentation and models underpinning
the LSTs would be reviewed in accordance with ICE Clear Europe's Model
Risk Governance Framework.
---------------------------------------------------------------------------

    \15\ 17 CFR 240.17Ad-22(e)(7)(vi). The rule states that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable: [e]ffectively measure, monitor, and manage the liquidity
risk that arises in or is borne by the covered clearing agency,
including measuring, monitoring, and managing its settlement and
funding flows on an ongoing and timely basis, and its use of
intraday liquidity by, at a minimum, doing the following:
    (vi) Determining the amount and regularly testing the
sufficiency of the liquid resources held for purposes of meeting the
minimum liquid resource requirement under paragraph (e)(7)(i) of
this section by, at a minimum:
    (A) Conducting stress testing of its liquidity resources at
least once each day using standard and predetermined parameters and
assumptions;
    (B) Conducting a comprehensive analysis on at least a monthly
basis of the existing stress testing scenarios, models, and
underlying parameters and assumptions used in evaluating liquidity
needs and resources, and considering modifications to ensure they
are appropriate for determining the clearing agency's identified
liquidity needs and resources in light of current and evolving
market conditions;
    (C) Conducting a comprehensive analysis of the scenarios,
models, and underlying parameters and assumptions used in evaluating
liquidity needs and resources more frequently than monthly when the
products cleared or markets served display high volatility or become
less liquid, when the size or concentration of positions held by the
clearing agency's participants increases significantly, or in other
appropriate circumstances described in such policies and procedures;
and
    (D) Reporting the results of its analyses under paragraphs
(e)(7)(vi)(B) and (C) of this section to appropriate decision makers
at the covered clearing agency, including but not limited to, its
risk management committee or board of directors, and using these
results to evaluate the adequacy of and adjust its liquidity risk
management methodology, model parameters, and any other relevant
aspects of its liquidity risk management framework;''
---------------------------------------------------------------------------

    In compliance with Rule 17Ad-22(e)(7)(ix),\16\ the proposed
Liquidity Management Procedures would set out ICE Clear Europe's
process to replenish liquid resources. Provided losses would be covered
by the default waterfall, (i) if the losses were covered by the margin
and GF contribution of the defaulting CM, there would be no need for
replenishment, and (ii) if part of the GF contributions of the other
CMs or ICE Clear Europe's GF contribution were used, they would be
replenished as set out in the Rules.
---------------------------------------------------------------------------

    \16\ 17 CFR 240.17Ad-22(e)(7)(ix). The rule states that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable: [e]ffectively measure, monitor, and manage the liquidity
risk that arises in or is borne by the covered clearing agency,
including measuring, monitoring, and managing its settlement and
funding flows on an ongoing and timely basis, and its use of
intraday liquidity by, at a minimum, doing the following:
[d]escribing the covered clearing agency's process to replenish any
liquid resources that the clearing agency may employ during a stress
event;''
---------------------------------------------------------------------------

    Rule 17Ad-22(e)(2) \17\ requires that a covered clearing agency
provide for governance arrangements that, among other matters, are
``clear and

transparent'' and ``specify clear and direct lines of responsibility.''
The proposed amendments would ensure that it is clear that material
breaches and unapproved deviations from the Treasury Documents would
need to be reported to certain senior leaders and that those
individuals would determine whether issues should be further escalated.
The amendments therefore enhance the governance arrangements relating
to breaches of the Treasury Documents.
---------------------------------------------------------------------------

    \17\ 17 CFR 240.17Ad-22(e)(2).
---------------------------------------------------------------------------

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

    ICE Clear Europe does not believe the proposed amendments would
have any impact, or impose any burden, on competition not necessary or
appropriate in furtherance of the purposes of the Act. The amendments
would apply uniformly to all CMs, are being adopted to strengthen and
clarify the Clearing House's liquidity risk management processes and
should not affect the rights or obligations of CMs. Further, the
amendments are generally intended to simplify and streamline
documentation and reflect current practices, rather than substantially
alter existing practices. As a result, ICE Clear Europe does not
believe the amendments would affect the cost of clearing for CMs or
other market participants, the market for cleared services generally or
access to clearing by CMs or other market participants, or otherwise
affect competition among CMs or market participants in a manner not
necessary or appropriate in furtherance of the purposes of the Act.

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

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

III. Date of Effectiveness of the Proposed Rule Change, Security-Based
Swap Submission and Advance Notice and Timing for Commission Action

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve or disapprove the proposed rule change or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.
    The proposal shall not take effect until all regulatory actions
required with respect to the proposal are completed.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml) or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-ICEEU-2019-012 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-ICEEU-2019-012. 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, security-based
swap submission or advance notice that are filed with the Commission,
and all written communications relating to the proposed rule change,
security-based swap submission or advance notice 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 such filings
will also be available for inspection and copying at the principal
office of ICE Clear Europe and on ICE Clear Europe's website at https://www.theice.com/clear-europe/regulation. All comments received will be
posted without change. Persons submitting comments are cautioned that
we do not redact or edit personal identifying information from comment
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number SR-
ICEEU-2019-012 and should be submitted on or before August 15, 2019.
---------------------------------------------------------------------------

    \18\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-15777 Filed 7-24-19; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 82, Number 191 (Wednesday, October 4, 2017)]
[Notices]
[Page 46234]
[FR Doc No: 2017-21270]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

San Diego Gas & Electric Company v. Sellers of Energy and
Ancillary Services Into Markets Operated by the California Independent
System Operator Corporation and the California Power Exchange,
Investigation of Practices of the California Independent System
Operator and the California Power Exchange Corporation, Investigation
of Wholesale Rates of Public Utility Sellers of Energy and Ancillary
Services in the Western Systems Coordinating Council, State of
California, ex rel. Bill Lockyer, Attorney General of the State of
California v. British Columbia Power Exchange Corp., Fact-Finding
Investigation nto Possible Manipulation of Electric and Natural Gas
Prices, Aquila, Inc., Aquila, Inc., California Independent System
Operator Corporation, Investigation of Anomalous Bidding Behavior and
Practices in the Western Markets, Notice of Filing

[Docket Nos. EL00-95-304], [EL00-98-276], [EL01-68-055], [EL02-71-062],
[PA02-2-104], [EL03-138-011], [EL03-181-012], [ER03-746-057], [IN03-10-
089]

    Take notice that on September 26, 2017, MPS Merchant Services,
Inc., Aquila Power Corporation and the California Parties filed a Joint
Compliance Filing in Support of a Settlement.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date. On or
before the comment date, it is not necessary to serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the eFiling link at http://www.ferc.gov. Persons unable to file electronically should submit an
original and 5 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
eLibrary link and is 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
(866) 208-3676 (toll free). For TTY, call<PHONE_NUMBER>.
    Comment Date: 5:00 p.m. Eastern Time on October 17, 2017.

    Dated: September 27, 2017.
Kimberly D. Bose,
Secretary.
[FR Doc. 2017-21270 Filed 10-3-17; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 85, Number 204 (Wednesday, October 21, 2020)]
[Notices]
[Pages 67013-67015]
[FR Doc No: 2020-23266]

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DEPARTMENT OF LABOR

Occupational Safety and Health Administration

[Docket No. OSHA-2011-0057]

Excavations (Design of Cave-in Protection Systems); Extension of
the Office of Management and Budget's (OMB) Approval of Information
Collection (Paperwork) Requirements

AGENCY: Occupational Safety and Health Administration (OSHA), Labor.

ACTION: Request for public comments.

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SUMMARY: OSHA solicits public comments concerning the proposal to
extend the Office of Management and Budget's (OMB) approval of the
collection of information contained in the Standard on Excavations
(Design of Cave-in Protection Systems).

DATES: Comments must be submitted (postmarked, sent, or received) by
December 21, 2020.

ADDRESSES:
    Electronically: You may submit comments and attachments

electronically at http://www.regulations.gov, which is the Federal
eRulemaking Portal. Follow the instructions online for submitting
comments.
    Facsimile: If your comments, including attachments, are not longer
than 10 pages, you may fax them to the OSHA Docket Office at (202) 693-
1648.
    Mail, hand delivery, express mail, messenger, or courier service:
When using this method, you must submit a copy of your comments and
attachments to the OSHA Docket Office, Docket No. OSHA-2011-0057,
Occupational Safety and Health Administration, U.S. Department of
Labor, Room N-3653, 200 Constitution Avenue NW, Washington, DC 20210.
Please note: While OSHA's Docket Office is continuing to accept and
process submissions by regular mail, due to the COVID-19 pandemic, the
Docket Office is closed to the public and not able to receive
submissions to the docket by hand, express mail, messenger, and courier
service.
    Instructions: All submissions must include the agency name and the
OSHA docket number (OSHA-2011-0057) for the Information Collection
Request (ICR). All comments, including any personal information you
provide, such as social security number and date of birth, are placed
in the public docket without change, and may be made available online
at http://www.regulations.gov. For further information on submitting
comments, see the ``Public Participation'' heading in the section of
this notice titled SUPPLEMENTARY INFORMATION.
    Docket: To read or download comments or other material in the
docket, go to http://www.regulations.gov or the OSHA Docket Office at
the above address. All documents in the docket (including this Federal
Register notice) are listed in the http://www.regulations.gov index;
however, some information (e.g., copyrighted material) is not publicly
available to read or download through the website. All submissions,
including copyrighted material, are available for inspection and
copying at the OSHA Docket Office. You may also contact Theda Kenney at
(202) 693-2222 to obtain a copy of the ICR.

FOR FURTHER INFORMATION CONTACT: Theda Kenney or Seleda Perryman,
Directorate of Standards and Guidance, OSHA, U.S. Department of Labor,
telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Background

    The Department of Labor, as part of the continuing effort to reduce
paperwork and respondent (i.e., employer) burden, conducts a
preclearance consultation program to provide the public with an
opportunity to comment on proposed and continuing collection of
information in accordance with the Paperwork Reduction Act (PRA) (44
U.S.C. 3506(c)(2)(A)). This program ensures that information is in the
desired format, reporting burden (time and costs) is minimal,
collection instruments are clearly understood, and OSHA's estimate of
the information collection burden is accurate. The Occupational Safety
and Health Act of 1970 (OSH Act) (29 U.S.C. 651 et seq.) authorizes
information collection by employers as necessary or appropriate for
enforcement of the OSH Act or for developing information regarding the
causes and prevention of occupational injuries, illnesses, and
accidents (29 U.S.C. 657). The OSH Act also requires that OSHA to
obtain such information with minimum burden upon employers, especially
those operating small businesses, and to reduce to the maximum extent
feasible, unnecessary duplication of efforts in obtaining information
(29 U.S.C. 657).
    Paragraphs (b) and (c) of Sec.  1926.652 (``Requirements for
Protective Systems''; the ``Standard'') contain paperwork requirements
that impose burden hours or costs on employers. These paragraphs
require employers to use protective systems to prevent cave-ins during
excavation work; these systems include sloping the side of the trench,
benching the soil away from the excavation, or using a trench shielding
system (such as a trench box). The Standard specifies allowable
configurations and slopes for excavations, and provides appendices to
assist employers in designing protective systems. However, paragraphs
(b)(3) and (b)(4) of the Standard permit employers to design sloping or
benching systems based on tabulated data (Option 3), or to use a design
approved by a registered professional engineer (Option 4).
    Under Option 3, employers must provide the tabulated data in a
written form that also identifies the registered professional engineer
who approved the data and the parameters used to select the sloping or
benching system drawn from the data, as well as the limitations of the
data (including the magnitude and configuration of slopes determined to
be safe). The document must also provide any explanatory information
necessary to select the correct benching system based on the data.
Option 2 requires employers to develop a written design approved by a
registered professional engineer. The design information must include
the magnitude and configuration of the slopes determined to be safe,
and the identity of the registered professional engineer who approved
the design.
    Paragraph (c)(2)(iii) allows employers to use manufacturer's
tabulated data or to deviate from the data provided. The manufacturer's
specification, recommendations and limitations as well as the
manufacturer's approval to deviate from these items shall be in
writing. Paragraphs (c)(3) and (c)(4) allow employers to design support
systems, shield systems, and other protective systems based on
tabulated data provided by a system manufacturer (Option 3) or obtained
from other sources including a registered professional engineer and
approved by a registered professional engineer (Option 4).
    Each of these provisions requires employers to maintain a copy of
the documents described in these options at the jobsite during
construction. After construction is completed, employers may store the
documents off-site provided they make them available to an OSHA
compliance officer on request. These documents provide both the
employer and the compliance officer with information needed to
determine if the selection and design of a protective system are
appropriate to the excavation work, thereby assuring workers of maximum
protection against cave-ins.

II. Special Issues for Comment

    OSHA has a particular interest in comments on the following issues:
     Whether the proposed information collection requirements
are necessary for the proper performance of the agency's functions,
including whether the information is useful;
     The accuracy of OSHA's estimate of the burden (time and
costs) of the information collection requirements, including the
validity of the methodology and assumptions used;
     The quality, utility, and clarity of the information
collected; and
     Ways to minimize the burden on employers who must comply;
for example, by using automated or other technological information
collection and transmission techniques.

III. Proposed Actions

    The agency is requesting that OMB extend the approval of the
information collection requirements contained in the Standard on
Excavations (Design of Cave-in Protection Systems). An increase in the
number of construction projects/sites from 768,278 in 2013 to 1,010,188
in 2019 has resulted in an adjustment increase in burden hours from
17,262 to 19,402, a total increase

of 2,140 burden hours. OSHA reduced the number of apartment and non-
residential construction sites that would use outside contractor
engineering services for the required protective system design from
2,466 to 2,038. There was also a decrease in overall cost from $311,505
to $269,138, a difference of $42,367.
    The agency will summarize any comments submitted in response to
this notice and will include this summary in the request to OMB to
extend the approval of the information collection requirements
contained in the Standard.
    Type of Review: Extension of a currently approved collection.
    Title: Excavations (Design of Cave-in Protection Systems) (29 CFR
part 1926, subpart P).
    OMB Control Number: 1218-0137.
    Affected Public: Business or other for-profits.
    Number of Respondents: 8,152.
    Number of Responses: 19,402.
    Frequency of Responses: On occasion.
    Average Time per Response: Varies.
    Estimated Total Burden Hours: 19,402 hours.
    Estimated Cost (Operation and Maintenance): $269,138.

IV. Public Participation--Submission of Comments on This Notice and
Internet Access to Comments and Submissions

    You may submit comments in response to this document as follows:
(1) Electronically at http://www.regulations.gov, which is the Federal
eRulemaking Portal; (2) by facsimile (fax); or (3) by hard copy. All
comments, attachments, and other material must identify the agency name
and the OSHA docket number (Docket No. OSHA-2011-0057) for the ICR. You
may supplement electronic submissions by uploading document files
electronically. If you wish to mail additional materials in reference
to an electronic or facsimile submission, you must submit them to the
OSHA Docket Office (see the section of this notice titled ADDRESSES).
The additional materials must clearly identify your electronic comments
by your name, date, and the docket number so the agency can attach them
to your comments.
    Due to security procedures, the use of regular mail may cause a
significant delay in the receipt of comments. For information about
security procedures concerning the delivery of materials by hand,
express delivery, messenger, or courier service, please contact the
OSHA Docket Office at<PHONE_NUMBER>, (TTY<PHONE_NUMBER>).
    Comments and submissions are posted without change at http://www.regulations.gov. Therefore, OSHA cautions commenters about
submitting personal information such as social security numbers and
dates of birth. Although all submissions are listed in the http://www.regulations.gov index, some information (e.g., copyrighted
material) is not publicly available to read or download through this
website. All submissions, including copyrighted material, are available
for inspection and copying at the OSHA Docket Office. Information on
using the http://www.regulations.gov website to submit comments and
access the docket is available at the website's ``User Tips'' link.
Contact the OSHA Docket Office for information about materials not
available through the website, and for assistance in using the internet
to locate docket submissions.

V. Authority and Signature

    Loren Sweatt, Principal Deputy Assistant Secretary of Labor for
Occupational Safety and Health, directed the preparation of this
notice. The authority for this notice is the Paperwork Reduction Act of
1995 (44 U.S.C. 3506 et seq.) and Secretary of Labor's Order No. 1-2012
(77 FR 3912).

    Signed at Washington, DC, on October 15, 2020.
Loren Sweatt,
Principal Deputy Assistant Secretary of Labor for Occupational Safety
and Health.
[FR Doc. 2020-23266 Filed 10-20-20; 8:45 am]
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