[Federal Register Volume 83, Number 240 (Friday, December 14, 2018)]
[Notices]
[Page 64381]
[FR Doc No: 2018-27082]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84772; File No. SR-NYSEArca-2018-77]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of
Designation of a Longer Period for Commission Action on Proposed Rule
Change To Amend Rule 7.44-E, the Exchange's Retail Liquidity Program

December 10, 2018.
    On October 26, 2018, NYSE Arca, Inc. (``NYSE Arca'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to amend Exchange Rule 7.44-E, which sets forth
the Exchange's Retail Liquidity Program. The proposed rule change was
published for comment in the Federal Register on November 14, 2018.\3\
The Commission has received no comment letters on the proposed rule
change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 84547 (Nov. 7,
2018), 83 FR 56890.
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    Section 19(b)(2) of the Act \4\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding, or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day after publication of the notice for this proposed rule change
is December 29, 2018. The Commission is extending this 45-day time
period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period
within which to take action on the proposed rule change so that it has
sufficient time to consider this proposed rule change. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates
February 12, 2019, as the date by which the Commission shall either
approve or disapprove, or institute proceedings to determine whether to
disapprove, the proposed rule change (File No. SR-NYSEArca-2018-77).
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    \5\ Id.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2018-27082 Filed 12-13-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: September 15, 2009 (Volume 74, Number 177)]
[Proposed Rules]
[Page 47148-47150]
[DOCID:fr15se09-24]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2009-0788; Directorate Identifier 2009-NM-193-AD]
RIN 2120-AA64

Airworthiness Directives; Boeing Model 737-300, -400, and -500
Series Airplanes

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: We propose to adopt a new airworthiness directive (AD) for
certain Boeing Model 737-300, -400, and -500 series airplanes. This
proposed AD would require repetitive external non-destructive
inspections to detect cracks in the fuselage skin along the chem-mill
step at stringers S-1 and S-2 right, between station (STA) 827 and STA
847, and repair if necessary. This proposed AD results from a report of
a hole in the fuselage skin common to stringer S-1 and S-2 left,
between STA 827 and STA 847 on an airplane that diverted to an
alternate airport due to cabin depressurization. We are proposing this
AD to detect and correct fatigue cracking of the fuselage skin panels
at the chem-milled steps, which could result in sudden fracture and
failure of the fuselage skin panels, and consequent rapid decompression
of the airplane.

DATES: We must receive comments on this proposed AD by October 30,
2009.

ADDRESSES: You may send comments by any of the following methods:
     Federal eRulemaking Portal: Go to http://
www.regulations.gov. Follow the instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue, SE., Washington, DC 20590.
     Hand Delivery: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue, SE., Washington, DC 20590, between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays.
    For service information identified in this proposed AD, contact
Boeing Commercial Airplanes, Attention: Data & Services Management,
P.O. Box 3707, MC 2H-65, Seattle, Washington 98124-2207; telephone 206-
544-5000, extension 1; fax<PHONE_NUMBER>; e-mail<EMAIL_ADDRESS>
Internet https://www.myboeingfleet.com. You may review copies of the
referenced service information at the FAA, Transport Airplane
Directorate, 1601 Lind Avenue, SW., Renton, Washington. For information
on the availability of this material at the FAA, call<PHONE_NUMBER> or
425-227-1152.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://
www.regulations.gov; or in person at the Docket Management Facility
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains this proposed AD, the regulatory
evaluation, any comments received, and other information. The street
address for the Docket Office (telephone<PHONE_NUMBER>) is in the
ADDRESSES section. Comments will be available in the AD docket shortly
after receipt.

FOR FURTHER INFORMATION CONTACT: Wayne Lockett, Aerospace Engineer,
Airframe Branch, ANM-120S, FAA, Seattle Aircraft Certification Office,
1601 Lind Avenue, SW., Renton, Washington 98057-3356; telephone (425)
917-6447; fax<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Comments Invited

    We invite you to send any written relevant data, views, or
arguments about this proposed AD. Send your comments to an address
listed under the ADDRESSES section. Include ``Docket No. FAA-2009-0788;
Directorate Identifier 2009-NM-193-AD'' at the beginning of your
comments. We specifically invite comments on the overall regulatory,
economic, environmental, and energy aspects of this proposed AD. We
will consider all comments received by the closing date and may amend
this proposed AD because of those comments.
    We will post all comments we receive, without change, to http://
www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact we
receive about this proposed AD.

Discussion

    We have received one report from an operator of a hole in the
fuselage skin common to stringer S-1 and S-2 left, between station
(STA) 827 and STA 847. The crack started along the chem-mill edge along
stringer S-1. The airplane skin in the area had 20-inch tear strap
bays, and a structural full pad up doubler provision for an emergency
locator transmitter (ELT) antenna at this location. The airplane
diverted to an alternate airport due to cabin depressurization and
subsequent deployment of the oxygen masks. The airplane had accumulated
42,569 total flight cycles. The cause of the fatigue cracking is under
investigation. Airplanes with 10-inch tear strap bays are also
susceptible to cracks at this location. This condition, if not
corrected, could result in sudden fracture and failure of the fuselage
skin panels, and consequent rapid decompression of the airplane.

Relevant Service Information

    We have reviewed Boeing Alert Service Bulletin 737-53A1301, dated
September 3, 2009. The service bulletin describes procedures for
repetitive external non-destructive inspections (NDI) to detect cracks
in the fuselage skin along the chem-mill step at stringers S-1 and S-2
right, between STA 827 and STA 847, and contacting Boeing for repair
instructions. The NDI inspections that can be used are medium frequency
eddy current, magneto optical imaging, or c-scan. The service bulletin
specifies that it is not necessary to inspect the chem-mill steps under
an existing repair doubler provided all of the following apply:
     The repair was installed after the release date of the
service bulletin;
     The repair was approved by the FAA or by a Boeing Company
Authorized Representative who was authorized by the FAA to make such
findings; and
     The repair extends a minimum of three rows of fasteners on
each side of the chem-mill line in the circumferential direction.

FAA's Determination and Requirements of This Proposed AD

    We are proposing this AD because we evaluated all relevant
information and determined the unsafe condition described previously is
likely to exist or develop in other products of the same type design.
This proposed AD would require accomplishing the actions specified in
the service information described previously, except as discussed under
``Differences Between the Proposed AD and the Service Bulletin.''
    Operators should note that paragraph (i) of this AD specifies
certain conditions for terminating the repetitive

inspections required by this AD for a repaired area only. One of those
conditions is that the external repair doubler be installed after
September 3, 2009. This is the date Boeing Service Bulletin 737-53A1301
became available to operators to address the identified unsafe
condition. In any case, an initial inspection, as required by paragraph
(g) of this AD, must still be accomplished.

Differences Between the Proposed AD and the Service Bulletin

    Boeing Alert Service Bulletin 737-53A1301, dated September 3, 2009,
specifies to contact the manufacturer for instructions on how to repair
certain conditions, but this proposed AD would require repairing those
conditions in one of the following ways:
     Using a method that we approve; or
     Using data that meet the certification basis of the
airplane, and that have been approved by an Authorized Representative
for the Boeing Commercial Airplanes Delegation Option Authorization
Organization whom we have authorized to make those findings.

Interim Action

    We consider this proposed AD interim action. If final action is
later identified, we might consider further rulemaking then.

Costs of Compliance

    We estimate that this proposed AD would affect 135 airplanes of
U.S. registry. The following table provides the estimated costs for
U.S. operators to comply with this proposed AD.

                                                                 Table--Estimated Costs
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                       Average                                Number of  U.S.-
                Action                   Work hours   labor rate       Cost per product          registered                    Fleet cost
                                                       per hour                                  airplanes
--------------------------------------------------------------------------------------------------------------------------------------------------------
Inspection............................            2          $80  $160, per inspection                     135  $21,600, per inspection cycle.
                                                                   cycle.
--------------------------------------------------------------------------------------------------------------------------------------------------------

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. ``Subtitle VII: Aviation
Programs,'' describes in more detail the scope of the Agency's
authority.
    We are issuing this rulemaking under the authority described in
``Subtitle VII, Part A, Subpart III, Section 44701: General
requirements.'' Under that section, Congress charges the FAA with
promoting safe flight of civil aircraft in air commerce by prescribing
regulations for practices, methods, and procedures the Administrator
finds necessary for safety in air commerce. This regulation is within
the scope of that authority because it addresses an unsafe condition
that is likely to exist or develop on products identified in this
rulemaking action.

Regulatory Findings

    We determined that this proposed AD would not have federalism
implications under Executive Order 13132. This proposed AD would not
have a substantial direct effect on the States, on the relationship
between the national Government and the States, or on the distribution
of power and responsibilities among the various levels of government.
    For the reasons discussed above, I certify this proposed
regulation:
    1. Is not a ``significant regulatory action'' under Executive Order
12866,
    2. Is not a ``significant rule'' under the DOT Regulatory Policies
and Procedures (44 FR 11034, February 26, 1979), and
    3. Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.
    You can find our regulatory evaluation and the estimated costs of
compliance in the AD Docket.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

The Proposed Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA proposes to amend 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

    1. The authority citation for part 39 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13  [Amended]

    2. The FAA amends Sec.  39.13 by adding the following new AD:

Boeing: Docket No. FAA-2009-0788; Directorate Identifier 2009-NM-
193-AD.

Comments Due Date

    (a) We must receive comments by October 30, 2009.

Affected ADs

    (b) None.

Applicability

    (c) This AD applies to Boeing Model 737-300, -400, and -500
series airplanes, certificated in any category; as identified in
Boeing Alert Service Bulletin 737-53A1301, dated September 3, 2009.

Subject

    (d) Air Transport Association (ATA) of America Code 53:
Fuselage.

Unsafe Condition

    (e) This AD results from a report of a hole in the fuselage skin
common to stringer S-1 and S-2 left, between STA 827 and STA 847 on
an airplane that diverted to an alternate airport due to cabin
depressurization and subsequent deployment of the oxygen masks. We
are issuing this AD to detect and correct fatigue cracking of the
fuselage skin panels at the chem-milled steps, which could result in
sudden fracture and failure of the fuselage skin panels, and
consequent rapid decompression of the airplane.

Compliance

    (f) You are responsible for having the actions required by this
AD performed within the compliance times specified, unless the
actions have already been done.

Initial and Repetitive Inspections

    (g) Before the accumulation of 35,000 total flight cycles, or
within 500 flight cycles after the effective date of this AD,
whichever occurs later: Except as provided by paragraph (i) of this
AD, do an external non-destructive inspection (NDI) to detect cracks
in the fuselage skin along the chem-mill steps at stringers S-1 and
S-2 right, between STA 827 and STA 847, in accordance with the
Accomplishment Instructions of Boeing Alert Service Bulletin 737-
53A1301, dated September 3, 2009. If no cracking is found, repeat
the inspection thereafter at intervals not to exceed 500 flight
cycles, except as provided by paragraph (i) of this AD.

Repair

    (h) If any crack is found during any inspection required by this
AD, and Boeing Alert Service Bulletin 737-53A1301, dated September
3, 2009, specifies to contact Boeing for repair instructions: Before
further flight, repair the crack using a method

approved in accordance with the procedures specified in paragraph
(j) of this AD.

Optional Terminating Action for Repetitive Inspections

    (i) Installing an external repair doubler along the chem-milled
steps at stringers S-1 and S-2 right, between STA 827 and STA 847,
constitutes terminating action for the repetitive inspections
required by paragraph (g) of this AD for the repaired area only,
provided all of the conditions specified in paragraphs (i)(1),
(i)(2), and (i)(3) of this AD are met. The initial inspection
required by paragraph (g) of this AD must be accomplished.
    (1) The repair is installed after September 3, 2009;
    (2) The repair was approved by the FAA or by a Boeing Company
Authorized Representative who was authorized by the FAA to make such
findings; and
    (3) The repair extends a minimum of three rows of fasteners on
each side of the chem-mill line in the circumferential direction.

Alternative Methods of Compliance (AMOCs)

    (j)(1) The Manager, Seattle Aircraft Certification Office (ACO),
FAA, has the authority to approve AMOCs for this AD, if requested
using the procedures found in 14 CFR 39.19. Send information to
ATTN: Wayne Lockett, Aerospace Engineer, Airframe Branch, ANM-120S,
FAA, Seattle Aircraft Certification Office, 1601 Lind Avenue, SW.,
Renton, Washington 98057-3356; telephone<PHONE_NUMBER>; fax (425)
917-6590. Or, e-mail information to 9-ANM-Seattle-ACO-AMOC-
<EMAIL_ADDRESS>    (2) To request a different method of compliance or a different
compliance time for this AD, follow the procedures in 14 CFR 39.19.
Before using any approved AMOC on any airplane to which the AMOC
applies, notify your principal maintenance inspector (PMI) or
principal avionics inspector (PAI), as appropriate, or lacking a
principal inspector, your local Flight Standards District Office.
The AMOC approval letter must specifically reference this AD.
    (3) An AMOC that provides an acceptable level of safety may be
used for any repair required by this AD, if it is approved by an
Authorized Representative for the Boeing Commercial Airplanes
Delegation Option Authorization Organization who has been authorized
by the Manager, Seattle ACO, to make those findings. For a repair
method to be approved, the repair must meet the certification basis
of the airplane and the approval must specifically refer to this AD.

    Issued in Renton, Washington, on September 4, 2009.
Stephen P. Boyd,
Acting Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. E9-22081 Filed 9-14-09; 8:45 am]

BILLING CODE 4910-13-P


[Federal Register Volume 83, Number 42 (Friday, March 2, 2018)]
[Notices]
[Pages 9009-9010]
[FR Doc No: 2018-04272]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

[Docket No. USCG-2017-0952]

Collection of Information Under Review by Office of Management
and Budget; OMB Control Number: 1625-0011

AGENCY: Coast Guard, DHS.

ACTION: Thirty-day notice requesting comments.

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SUMMARY: In compliance with the Paperwork Reduction Act of 1995 the
U.S. Coast Guard is forwarding an Information Collection Request (ICR),
abstracted below, to the Office of Management and Budget (OMB), Office
of Information and Regulatory Affairs (OIRA), requesting approval for
reinstatement, without change, of the following collection of
information: 1625-0011, Applications for Private Aids to Navigation and
for Class I Private Aids to Navigation on Artificial Islands and Fixed
Structures. Our ICR describes the information we seek to collect from
the public. Review and comments by OIRA ensure we only impose paperwork
burdens commensurate with our performance of duties.

DATES: Comments must reach the Coast Guard and OIRA on or before April
2, 2018.

ADDRESSES: You may submit comments identified by Coast Guard docket
number [USCG-2017-0952] to the Coast Guard using the Federal
eRulemaking Portal at http://www.regulations.gov. Alternatively, you
may submit comments to OIRA using one of the following means:
    (1) Email: [email protected].
    (2) Mail: OIRA, 725 17th Street NW, Washington, DC 20503, attention
Desk Officer for the Coast Guard.
    A copy of the ICR is available through the docket on the internet
at http://www.regulations.gov. Additionally, copies are available from:
Commandant (CG-612), ATTN: Paperwork Reduction Act Manager, U.S. Coast
Guard, 2703 Martin Luther King Jr. Ave. SE, STOP 7710, Washington, DC
20593-7710.

FOR FURTHER INFORMATION CONTACT: Mr. Anthony Smith, Office of
Information Management, telephone<PHONE_NUMBER>, or fax<PHONE_NUMBER>,
for questions on these documents.

SUPPLEMENTARY INFORMATION:

Public Participation and Request for Comments

    This Notice relies on the authority of the Paperwork Reduction Act
of 1995; 44 U.S.C. chapter 35, as amended. An ICR is an application to
OIRA seeking the approval, extension, or renewal of a Coast Guard
collection of information (Collection). The ICR contains information
describing the Collection's purpose, the Collection's likely burden on
the affected public, an explanation of the necessity of the Collection,
and other important information describing the Collection. There is one
ICR for each Collection. The Coast Guard invites comments on whether
this ICR should be granted based on the Collection being necessary for
the proper performance of Departmental functions. In particular, the
Coast Guard would appreciate comments addressing: (1) The practical
utility of the Collection; (2) the accuracy of the estimated burden of
the Collection; (3) ways to enhance the quality, utility, and clarity
of information subject to the Collection; and (4) ways to minimize the
burden of the Collection on respondents, including the use of automated
collection techniques or other forms of information technology. These
comments will help OIRA determine whether to approve the ICR referred
to in this Notice.
    We encourage you to respond to this request by submitting comments
and related materials. Comments to Coast Guard or OIRA must contain the
OMB Control Number of the ICR. They must also contain the docket number
of this request, [USCG-2017-0952], and must be received by April 2,
2018.

Submitting Comments

    We encourage you to submit comments through the Federal eRulemaking
Portal at http://www.regulations.gov. If your material cannot be
submitted using http://www.regulations.gov, contact the person in the
FOR FURTHER INFORMATION CONTACT section of this document for alternate
instructions. Documents mentioned in this notice, and all public
comments, are in our online docket at http://www.regulations.gov and
can be viewed by following that website's instructions. Additionally,
if you go to the online docket and sign up for email alerts, you will
be notified when comments are posted.
    We accept anonymous comments. All comments received will be posted
without change to http://www.regulations.gov and will include any
personal information you have provided. For more about privacy and the
docket, you may review a Privacy Act notice regarding the Federal
Docket Management System in the March 24, 2005, issue of the Federal
Register (70 FR 15086).
    OIRA posts its decisions on ICRs online at http://www.reginfo.gov/public/do/PRAMain after the comment period for each ICR. An OMB Notice
of Action on each ICR will become available via a hyperlink in the OMB
Control Number: 1625-0011.

Previous Request for Comments

    This request provides a 30-day comment period required by OIRA. The
Coast Guard published the 60-day notice (82 FR 58819, December 14,
2017) required by 44 U.S.C. 3506(c)(2). That Notice elicited one
comment. The commenter stated that it's their belief that the current
system of the Coast Guard with respect to the new owner or

transfer of ownership, should be at the discretion of the system that
has always been in place. Coast Guard response: Nothing about the
private aid to navigation process is changing and therefore we have not
revised this information collection request in response to the comment.
Accordingly, no changes have been made to the Collections.

Information Collection Request

    Title: Applications for Private Aids to Navigation and for Class I
Private Aids to Navigation on Artificial Islands and Fixed Structures.
    OMB Control Number: 1625-0011.
    Summary: Under the provision of 14 U.S.C. 81, the Coast Guard is
authorized to establish aids to navigation. 14 U.S.C. 83 prohibits
establishment of aids to navigation without permission of the Coast
Guard. 33 CFR 66.01-5 provides a means for private individuals to
establish privately maintained aids to navigation. Under 43 U.S.C.
1333, the Coast Guard has the authority to promulgate and enforce
regulations concerning lights and other warning devices relating to the
promotion of safety of life and property on artificial islands,
installations, and other devices on the outer continental shelf
involved in the exploration, development, removal, or transportation of
resources there from. 33 CFR 67.35-1 prescribes the type of aids to
navigation that must be installed on artificial islands and fixed
structures. Under the provision of 33 U.S.C. 409, the Secretary of
Homeland Security is mandated to prescribe rules and regulations for
governing the marking of sunken vessels. This authorization was
delegated to the Commandant of the Coast Guard under Department of
Homeland Security Delegation number 0170 and the marking of sunken
vessels are set out in 33 CFR part 64.11. To change any regulation, 5
U.S.C. 553 requires rule making to be published in the Federal Register
and that the notice shall include a statement of time, place, and
nature of public rule making proceedings. The information collected for
the rule can only be obtained from the owners of sunken vessels. The
information collection requirements are contained in 33 CFR 66.01-5,
and 67.35-5.
    Need: The information on these private aid applications (CG-2554
and CG-4143) provides the Coast Guard with vital information about
private aids to navigation and is essential for safe marine navigation.
These forms are required under 33 CFR 66 & 67. The information is
processed to ensure the private aid is in compliance with current
regulations. Additionally, these forms provide the Coast Guard with
information which can be distributed to the public to advise of new, or
changes to private aids to navigation. In addition, collecting the
applicant's contact information is important because it allows the
Coast Guard to contact the applicant should there be a discrepancy or
mishap involving the permitted private aid to navigation. Certain
discrepancies create hazards to navigation and must be responded to and
immediately corrected or repaired.
    Forms: CG-2554, Private Aids to Navigation Application, and CG-
4143, Application for Class I Private Aids to Navigation on Artificial
Islands and Fixed Structures.
    Respondents: Owners of private aids to navigation.
    Frequency: On occasion.
    Hour Burden Estimate: The estimated burden has decreased from 2,000
hours to 1,709 hours a year due to a decrease in the number of
respondents.

    Authority: The Paperwork Reduction Act of 1995; 44 U.S.C.
Chapter 35, as amended.

    Dated: February 26, 2018.
James D. Roppel,
U.S. Coast Guard, Acting Chief, Office of Information Management.
[FR Doc. 2018-04272 Filed 3-1-18; 8:45 am]
 BILLING CODE 9110-04-P


[Federal Register: April 21, 2008 (Volume 73, Number 77)]
[Notices]
[Page 21341]
[DOCID:fr21ap08-74]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EC08-66-000]

JP Morgan Chase & Co., The Bear Stearns Companies Inc.; Notice of
Filing

April 11, 2008.
    Take notice that on April 10, 2008, JP Morgan Chase & Co., The Bear
Stearns Companies Inc., and Bear Stearns' public utility subsidiaries
(collectively, Applicants), submitted an application for authorization
under section 203 of the Federal Power Act. The Applicants state that
the transaction as defined in the application will not have any effect
on the limited sales of reactive power at cost-based rates.
    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 14 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 e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m. Eastern Time on April 18, 2008.

Kimberly D. Bose,
Secretary.
 [FR Doc. E8-8487 Filed 4-18-08; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register: November 26, 2008 (Volume 73, Number 229)]
[Proposed Rules]
[Page 71951-71952]
[DOCID:fr26no08-27]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2008-1245; Directorate Identifier 2008-NE-27-AD]
RIN 2120-AA64

Airworthiness Directives; CFM International S.A. Model CFM56
Turbofan Engines

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

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: The FAA proposes to adopt a new airworthiness directive (AD)
for CFM International S.A. CFM56-2, CFM56-3, CFM56-5A, CFM56-5B, CFM56-
5C, and CFM56-7B series turbofan engines with certain part number (P/N)
and serial number (SN) high-pressure compressor (HPC) 4-9 spools
installed. This proposed AD would require removing certain HPC 4-9
spools listed by P/N and SN in this proposed AD. This proposed AD
results from reports of certain HPC 4-9 spools that Propulsion
Technology LLC (PTLLC) improperly repaired and returned to service. We
are proposing this AD to prevent cracking of the HPC 4-9 spool, which
could result in possible uncontained failure of the spool and damage to
the airplane.

DATES: We must receive any comments on this proposed AD by January 26,
2009.

ADDRESSES: Use one of the following addresses to comment on this
proposed AD.
     Federal eRulemaking Portal: Go to http://
www.regulations.gov and follow the instructions for sending your
comments electronically.
     Mail: Docket Management Facility, U.S. Department of
Transportation, 1200 New Jersey Avenue, SE., West Building Ground
Floor, Room W12-140, Washington, DC 20590-0001.
     Hand Delivery: Deliver to Mail address above between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays.
     Fax:<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Stephen K. Sheely, Aerospace Engineer,
Engine Certification Office, FAA, Engine & Propeller Directorate, 12
New England Executive Park, Burlington, MA 01803; e-mail:
<EMAIL_ADDRESS>telephone<PHONE_NUMBER>; fax<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Comments Invited

    We invite you to send us any written relevant data, views, or
arguments regarding this proposal. Send your comments to an address
listed under ADDRESSES. Include ``Docket No. FAA-2008-1245; Directorate
Identifier 2008-NE-27-AD'' in the subject line of your comments. We
specifically invite comments on the overall regulatory, economic,
environmental, and energy aspects of the proposed AD. We will consider
all comments received by the closing date and may amend the proposed AD
in light of those comments.
    We will post all comments we receive, without change, to http://
www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact
with FAA personnel concerning this proposed AD. Using the search
function of the Web site, anyone can find and read the comments in any
of our dockets, including, if provided, the name of the individual who
sent the comment (or signed the comment on behalf of an association,
business, labor union, etc.). You may review the DOT's complete Privacy
Act Statement in the Federal Register published on April 11, 2000 (65
FR 19477-78).

Examining the AD Docket

    You may examine the AD docket on the Internet at http://
www.regulations.gov; or in person at the Docket Operations office
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains this proposed AD, the regulatory
evaluation, any comments received, and other information. The street
address for the Docket Operations office (telephone<PHONE_NUMBER>) is
the same as the Mail address provided in the ADDRESSES section.
Comments will be available in the AD docket shortly after receipt.

Discussion

    We have received reports of life-limited parts (LLPs) HPC 4-9
spools that PTLLC, repair station certificate No. XZ4R084M, improperly
repaired and returned to service. Our investigation found some areas of
the seal tooth plasma coating that were thicker than allowed by the
CFM56 engine overhaul limits. The investigation also found:
     Seal tooth plasma overspray between the seal teeth, which
is not permitted by the engine overhaul manual, and
     Cracks that were missed during the fluorescent penetrant
inspection.
    These conditions, if not corrected, could cause cracking of the HPC
4-9 spool, which could result in possible uncontained failure of the
spool and damage to the airplane.

FAA's Determination and Requirements of the Proposed AD

    We have evaluated all pertinent information and identified an
unsafe condition that is likely to exist or develop on other products
of this same type design. We are proposing this AD, which would require
removing certain HPC 4-9 spools that have a P/N and SN listed in Table
1 of this proposed AD before accumulating 8,900 cycles since repair at
PTLLC or within 1,100 cycles from the effective date of this AD,
whichever occurs later.

Costs of Compliance

    We estimate that this proposed AD would affect 26 engines installed
on airplanes of U.S. registry. We also estimate that it would take
about 410 work-hours per engine to perform the proposed actions, and
that the average labor rate is $80 per work-hour. Required parts would
cost about $227,500 per engine. Based on these figures, we estimate the
total cost of the proposed AD to U.S. operators to be $6,767,800.

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, Section 106, describes the
authority of the FAA Administrator. Subtitle VII, Aviation Programs,
describes in more detail the scope of the Agency's authority.
    We are issuing this rulemaking under the authority described in
Subtitle VII, Part A, Subpart III, Section 44701, ``General
requirements.'' Under that section, Congress charges the FAA with
promoting safe flight of civil aircraft in air commerce by prescribing
regulations for practices, methods, and procedures the Administrator
finds necessary for safety in air commerce. This regulation is within
the scope of that authority because it addresses an unsafe condition
that is likely to exist or develop on products identified in this
rulemaking action.

Regulatory Findings

    We have determined that this proposed AD would not have federalism
implications under Executive Order 13132. This proposed AD would not
have a substantial direct effect on the States, on the relationship
between the national Government and the States, or on the distribution
of power and responsibilities among the various levels of government.
    For the reasons discussed above, I certify that the proposed AD:
    1. Is not a ``significant regulatory action'' under Executive Order
12866;
    2. Is not a ``significant rule'' under the DOT Regulatory Policies
and Procedures (44 FR 11034, February 26, 1979); and
    3. Would not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.
    We prepared a regulatory evaluation of the estimated costs to
comply with this proposed AD. You may get a copy of this summary at the
address listed under ADDRESSES.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Safety.

The Proposed Amendment

    Under the authority delegated to me by the Administrator, the
Federal Aviation Administration proposes to amend 14 CFR part 39 as
follows:

PART 39--AIRWORTHINESS DIRECTIVES

    1. The authority citation for part 39 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13  [Amended]

    2. The FAA amends Sec.  39.13 by adding the following new
airworthiness directive:

CFM International S.A.: Docket No. FAA-2008-1245; Directorate
Identifier 2008-NE-27-AD.

Comments Due Date

    (a) The Federal Aviation Administration (FAA) must receive
comments on this airworthiness directive (AD) action by January 26,
2009.

Affected ADs

    (b) None.

Applicability

    (c) This AD applies to CFM International S.A. CFM56-2, CFM56-3,
CFM56-5A, CFM56-5B, CFM56-5C, and CFM56-7B series turbofan engines
with a high-pressure compressor (HPC) 4-9 spool that has a part
number (P/N) and serial number (SN) specified in Table 1 of this AD,
installed. These engines are installed on, but not limited to,
Airbus A319, A320, and A340 airplanes and Boeing 737 airplanes.

                  Table 1--HPC 4-9 Spools by P/N and SN
------------------------------------------------------------------------
             HPC 4-9 Spool P/N                    HPC 4-9 Spool SN
------------------------------------------------------------------------
9513M93G08................................  MPON1641
1590M29G01................................  GWN0087D
1590M29G01................................  GWN00MG2
1590M29G01................................  GWN011LG
1590M29G01................................  GWN01285
1590M29G01................................  GWN021JC
1590M29G01................................  GWNFY923
1590M29G01................................  GWNFY824
1590M29G01................................  GWNPA756
1590M29G01................................  GWNPG015
1590M29G01................................  GWNWC515
1590M29G01................................  GWNWR523
1590M29G01................................  GWNWT631
1590M29G01................................  GWNYC495
1588M89G03................................  GWN03K1R
1588M89G03................................  GWN03N61
1588M89G03................................  GWN03N6C
1588M89G03................................  GWN040L9
1588M89G03................................  GWN0468N
1588M89G03................................  GWN05AMO
1277M97G02................................  GWNE1298
1277M97G02................................  GWNE1564
1277M97G02................................  GWNJ7891
1277M97G02................................  GWNT4187
9513M93G11................................  GWNB3373
1358M94G01................................  GWNU0169
------------------------------------------------------------------------

Unsafe Condition

    (d) This AD results from reports of certain HPC 4-9 spools that
Propulsion Technology LLC (PTLLC) improperly repaired and returned
to service. We are issuing this AD to prevent cracking of the HPC 4-
9 spool, which could result in possible uncontained failure of the
spool and damage to the airplane.

Compliance

    (e) You are responsible for having the actions required by this
AD performed within the compliance times specified unless the
actions have already been done.

Removing the HPC 4-9 Spool

    (f) Remove HPC 4-9 spools from service that have a P/N and S/N
listed in Table 1 of this AD before accumulating 8,900 cycles since
repair at PTLLC or within 1,100 cycles from the effective date of
this AD, whichever occurs later.

Installation Prohibition

    (g) After the effective date of this AD, do not install any
engine with an HPC 4-9 spool that has a P/N and SN specified in
Table 1 of this AD.

Alternative Methods of Compliance

    (h) The Manager, Engine Certification Office, has the authority
to approve alternative methods of compliance for this AD if
requested using the procedures found in 14 CFR 39.19.

Related Information

    (i) Contact Stephen K. Sheely, Aerospace Engineer, Engine
Certification Office, FAA, Engine & Propeller Directorate, 12 New
England Executive Park, Burlington, MA 01803; e-mail:
<EMAIL_ADDRESS>telephone<PHONE_NUMBER>; fax (781) 238-
7199, for more information about this AD.

    Issued in Burlington, Massachusetts, on November 18, 2008.
Peter A. White,
Assistant Manager, Engine and Propeller Directorate, Aircraft
Certification Service.
[FR Doc. E8-28055 Filed 11-25-08; 8:45 am]

BILLING CODE 4910-13-P


[Federal Register Volume 78, Number 69 (Wednesday, April 10, 2013)]
[Notices]
[Pages 21487-21491]
[FR Doc No: 2013-08332]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69313; File No. SR-NSCC-2013-02]

Self-Regulatory Organizations; National Securities Clearing
Corporation; Notice of Filing of Proposed Rule Change To Institute
Supplemental Liquidity Deposits to Its Clearing Fund Designed To
Increase Liquidity Resources To Meet Its Liquidity Needs

April 4, 2013.
    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 March 21, 2013, National Securities Clearing Corporation (``NSCC'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II and III below, which
Items have been prepared primarily by NSCC. 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). Defined terms that are not defined in
this notice are defined in Exhibit 5 of the proposed rule change
filing, available at http://www.sec.gov/rules/sro/nscc.shtml under
File No. SR-NSCC-2013-02, Additional Materials.
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    To enhance its ability to meet its liquidity requirements, NSCC is
proposing to amend its Rules & Procedures (``Rules'') to provide for a
supplemental liquidity funding obligation, as described below.

II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of these
statements.\3\
---------------------------------------------------------------------------

    \3\ The Commission has modified the text of the summaries
prepared by NSCC.
---------------------------------------------------------------------------

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

Proposal Overview
    As a central counterparty (``CCP''), NSCC occupies an important
role in the securities settlement system by interposing itself between
counterparties to financial transactions, thereby reducing the risk
faced by its Members and contributing to global financial stability.
Further, pursuant to the Payment, Clearing, and Settlement Supervision
Act of 2010 (``Clearing Supervision Act''),\4\ NSCC has been designated
a systemically important financial market utility (``SFMU'') by the
Financial Stability Oversight Council, obliging NSCC to meet certain
risk management regulatory standards related to, among other things,
maintaining adequate financial resources to meet its obligations to its
Members in the event of the default of the Member or family of
affiliated Members (``Affiliated Family'') that would generate the
largest aggregate payment obligation to NSCC in stressed conditions. In
this regard and to enhance its ability to meet its liquidity
requirements, NSCC is proposing to amend its Rules to provide for a

supplemental liquidity funding obligation.
---------------------------------------------------------------------------

    \4\ 12 U.S.C. 5465(e)(1).
---------------------------------------------------------------------------

    A substantial proportion of the liquidity needed by NSCC is
attributable to the exposure presented by those unaffiliated Members
and Affiliated Families that regularly incur the largest gross
settlement debits over a settlement cycle during trading activity on
business days other than periods coinciding with quarterly triple
options expiration dates (``Regular Activity Periods''), as well as
during times of increased trading activity that arise around quarterly
triple options expiration dates (``Options Expiration Activity
Periods'').
    With the goal of ensuring that NSCC has sufficient liquidity to
meet its obligations during Regular Activity Periods, as well as during
Options Expiration Activity Periods, it is appropriate that those
unaffiliated Members and Affiliated Families provide additional
liquidity to NSCC. Under proposed Rule 4(A), this will take the form of
supplemental liquidity deposits to the Clearing Fund (i) in an amount
based on the largest liquidity need NSCC would have in the event of the
default of an unaffiliated Member or Affiliated Family during a Regular
Activity Period (``Regular Activity Supplemental Deposit''), and (ii)
an additional amount to cover the largest liquidity need NSCC would
have in the event of the default of an unaffiliated Member or
Affiliated Family during an Options Expiration Activity Period
(``Special Activity Supplemental Deposit'') (collectively with Regular
Activity Supplemental Deposit, ``Supplemental Deposit'').
    The obligation of an unaffiliated Member or the Members of an
Affiliated Family to make a Regular Activity Supplemental Deposit
(``Regular Activity Liquidity Obligation'') or a Special Activity
Supplemental Deposit (``Special Activity Liquidity Obligation'') would
be imposed on the thirty (30) unaffiliated Members and/or Affiliated
Families who generate the largest aggregate liquidity needs over a
settlement cycle that would apply in the event of a closeout (i.e.,
over a period from date of default through the following three (3)
settlement days), based upon a lookback period. The Regular Activity
Liquidity Obligation of an unaffiliated Member or the Members of an
Affiliated Family to make a Regular Activity Supplemental Deposit will
be reduced by any liquidity such Members or their affiliates may
provide in the form of commitments under NSCC's committed liquidity
facility (``Credit Facility'').
    The calculations for both the Regular Activity Liquidity Obligation
and the Special Activity Liquidity Obligation are designed so that NSCC
has adequate liquidity resources to enable it to settle transactions,
notwithstanding the default of an unaffiliated Member and/or Affiliated
Family during Regular Activity Periods, as well as during Options
Expiration Activity Periods. The Liquidity Obligations imposed on
Affiliated Families would be allocated among the Family Members in
proportion to the liquidity risk (or peak exposure) they present to
NSCC.
Regulatory Background
    As both a CCP and a designated SFMU, NSCC adheres to strict risk
management processes that are regularly reviewed against applicable
regulatory and industry standards. This includes the securities laws
and rulemaking promulgated by the Commission, such as Rule 17Ad-
22(b)(3), which requires registered clearing agencies to maintain
sufficient financial resources to withstand, at a minimum, a default by
the participant (defined in Rule 17Ad-22(a)(3) to include a participant
family) to which it has the largest exposure.
    NSCC is also mindful of the standards set forth in the Principles
for Financial Market Infrastructures (``PFMI'') of the Committee on
Payment and Settlement Systems and the Technical Committee of the
International Organization of Securities Commissions. Key Consideration
4 of PFMI Principle 7, addressing liquidity risk, provides that a CCP
should maintain sufficient liquidity resources to meet its payment
obligations under a wide range of stress scenarios including the
default of the participant and its affiliates that would generate the
largest aggregate payment obligation to the CCP.
    NSCC believes the proposed rule change should assist NSCC in
securing adequate liquidity resources to meet its settlement
obligations during both Regular Activity Periods and Options Expiration
Activity Periods, notwithstanding the default of one of its
unaffiliated Members and/or Affiliated Families that pose the largest
aggregate liquidity need over the four day settlement cycle.
Supplemental Liquidity Providers
    Every business day NSCC measures the liquidity obligations of its
unaffiliated Members and Affiliated Families by taking the sum of their
purchase obligations on that day in securities that are eligible for
processing in NSCC's Continuous Net Settlement (``CNS'') system and for
the following three (3) settlement days (which equates to the period
from the date of default through the remaining settlement cycle). NSCC
then takes into account certain adjustments, assumptions and offsets,
and assumes the occurrence of certain stressed conditions.
    The stressed market conditions NSCC assumes in this calculation
include, but are not limited to, (i) the simultaneous default, without
prior warning, of all Members of the Affiliated Family with the largest
aggregate four (4) day settlement obligations; (ii) that on the day of
such default, the Members of such Affiliated Family are trading at peak
historical trading levels and no market participants curtail their
activity with any Members of the Family; and (iii) leading up to or
after the default, there is no increased volatility in the market that
would result in a significant increase in Clearing Fund requirements,
mark-to-market collections, or other risk-based premiums that would
have the result of increasing NSCC's liquidity resources. NSCC believes
that these conditions simulate the impact of significant credit risk
and market risk stresses on NSCC's liquidity need across both Regular
Activity Periods and Options Expiration Activity Periods.
    NSCC then identifies the largest Member liquidity need on each day
and determines if the available liquidity resources, consisting of the
aggregate Required Deposits, any Supplemental Deposits, and any Prefund
Deposits in the Clearing Fund on the day the liquidity need was
observed, are adequate to cover that liquidity need, or if there is a
calculated liquidity shortfall under the assumed stressed market
conditions described above.
    The Regular Activity Supplemental Deposits will be calculated to
address those daily liquidity shortfalls that fall on any business day
included in a Regular Activity Period (``Regular Activity Supplemental
Liquidity Need''), and the Special Activity Supplemental Deposits will
be calculated to address those additional daily liquidity shortfalls
that fall on any business day included in an Options Expiration
Activity Period (``Special Activity Supplemental Liquidity Need'').
Regular Activity Supplemental Deposits
    Under this proposal, every six (6) months, NSCC will determine (i)
its largest Regular Activity Supplemental Liquidity Need (``Regular
Activity Peak Liquidity Need'') over the preceding twelve (12) month
period and (ii) those unaffiliated Members and Affiliated Families that
presented the largest aggregate liquidity exposures to NSCC over the
preceding six-month period. NSCC will then rank the aggregate liquidity
exposures presented by the

unaffiliated Members and/or Affiliated Families (``Regular Activity
Peak Liquidity Exposures'') during the lookback period to determine
which thirty (30) such unaffiliated Members and Affiliated Families
presented the largest respective Regular Activity Peak Liquidity
Exposures within the lookback period. NSCC's Regular Activity Peak
Liquidity Need will then be allocated to these thirty (30) unaffiliated
Members and Affiliated Families (``Regular Activity Liquidity
Providers''), in proportion to the Regular Activity Peak Liquidity
Exposures they presented to NSCC during the lookback period.
    The first of these semi-annual calculations of the Regular Activity
Liquidity Obligations will be made to coincide with NSCC's annual
renewal of the Credit Facility each year (``Regular Activity First
Tranche Liquidity Obligations'') and the second calculation each year
will be made six (6) months thereafter (``Regular Activity Second
Tranche Liquidity Obligations'').
Special Activity Supplemental Deposits
    Special Activity Supplemental Deposits are deposits made in
addition to Regular Activity Supplemental Deposits, designed to cover
the additional liquidity exposure that occurs over an Options
Expiration Activity Period. Each calendar quarter, on a day that is no
later than the fifth business day preceding any Options Expiration
Activity Period, NSCC will also determine (i) its largest Special
Activity Supplemental Liquidity Need (``Special Activity Peak Liquidity
Need'') over the preceding twenty-four (24) months (i.e., the eight
prior Options Expiration Activity Periods, or a longer lookback period
as determined by NSCC) and (ii) those unaffiliated Members and
Affiliated Families that presented the largest aggregate Special
Activity liquidity exposures to NSCC over the same period. NSCC will
then rank the aggregate Special Activity liquidity exposures presented
by such unaffiliated Members and/or Affiliated Families (referred to as
their respective ``Special Activity Peak Liquidity Exposures'') during
the lookback period to determine which thirty (30) such unaffiliated
Members and Affiliated Families presented the largest respective
Special Activity Peak Liquidity Exposures within the lookback period.
NSCC's Special Activity Supplemental Peak Need will then be allocated
to these thirty (30) Members and Affiliated Families (``Special
Activity Liquidity Providers''), in proportion to the Special Activity
Peak Liquidity Exposures they presented to NSCC during the lookback
period.
Interim Adjustments and Calls
    With the goal of ensuring that NSCC's liquidity resources remain
adequate between the specified calculation dates, if either current
liquidity needs increase significantly over those liquidity needs used
for the regular calculations (or Special Activity Calculations), or the
amount of liquidity resources is significantly reduced, the proposal
permits NSCC to make interim recalibrations and liquidity calls: if
between the semi-annual calculations of the Regular Activity Liquidity
Obligations, the aggregate amount of Regular Activity Supplemental
Deposits decreases by an amount that exceeds a threshold as determined
by NSCC (whether as a result of the retirement of Members, a cease to
act, or otherwise), then NSCC will recalculate its Regular Activity
Peak Liquidity Need and allocate it among the unaffiliated Members and
Affiliated Families that then comprise the applicable thirty (30)
largest Regular Activity Liquidity Providers, in the same manner such
calculations and allocations would be made at each semi-annual
calculation of Regular Activity Liquidity Obligations.\5\
---------------------------------------------------------------------------

    \5\ NSCC plans to use an interim date calculation as the first
calculation under the proposed rule, should it become effective on a
date after the effective date of the 2013 renewal of its Credit
Facility.
---------------------------------------------------------------------------

    Conversely, if on any business day between regular semi-annual
calculation dates NSCC observes an increase in its Regular Activity
Liquidity Needs that exceeds a predetermined threshold amount, or
between the dates on which it calculates Special Activity Liquidity
Obligations it observes an increase in its Special Activity Liquidity
Needs that exceeds a predetermined threshold amount, NSCC shall be
entitled to call for an additional deposit from the Member whose
increase in activity levels caused (or was the primary cause of) such
increased liquidity need (``Liquidity Call''). Liquidity Call amounts
will be treated as a part of that Member's Regular Activity
Supplemental Deposit or Special Activity Supplemental Deposit, as
applicable.
Operation of the Funding Obligation
    Each Regular Activity Liquidity Provider will be obligated to
contribute to the Clearing Fund, no later than five (5) business days
following the effective date of the renewal of the Credit Facility, the
amount of its Regular Activity Liquidity Obligation, reduced (i) dollar
for dollar by amounts committed to the Credit Facility by that Regular
Activity Liquidity Provider or its affiliates, and (ii) ratably (among
all Regular Activity Liquidity Providers) by amounts committed to the
Credit Facility by the lenders party thereto which are not Members or
their affiliates.
    If the amount of the Regular Activity Second Tranche Liquidity
Obligation of an unaffiliated Member or Affiliated Family exceeds its
Regular Activity First Tranche Liquidity Obligation (including because
the unaffiliated Member or Affiliated Family had no Regular Activity
First Tranche Liquidity Obligation), such Regular Activity Liquidity
Provider will be obligated to contribute its calculated amount within
three (3) business days following the final notice of such amount. If
the Regular Activity Second Tranche Liquidity Obligation of an
unaffiliated Member or Affiliated Family is less than its Regular
Activity First Tranche Liquidity Obligation, then it shall be entitled
to a refund of the amount of the difference, provided, that nothing
shall reduce or in any way affect any commitment or other obligation of
any Member or its affiliate under the Credit Facility.
    Promptly after calculation of the Special Activity Liquidity
Obligations, NSCC will inform Special Activity Liquidity Providers of
their Special Activity Liquidity Obligations, and those Special
Activity Liquidity Providers must make their Special Activity
Supplemental Deposits to the Clearing Fund in cash no later than the
close of business on the second business day preceding the applicable
Options Expiration Activity Period (i.e., generally the Wednesday
before the options expiration date).
    However, if a Special Activity Liquidity Provider anticipates that
its Special Activity Peak Liquidity Exposure at any time during an
Options Expiration Activity Period will be greater than the amount
calculated by NSCC, it may, no later than the first business day of
that Options Expiration Activity Period, make an additional cash
deposit to the Clearing Fund that is in excess of its Required Deposit
and is designated as a ``Special Activity Prefund Deposit.'' Members
may also, at their discretion, deposit to the Clearing Fund amounts in
excess of their Required Deposit that are designated ``Regular Activity
Prefund Deposits.'' Because Prefund Deposits are included in
calculating available liquidity resources, they thus reduce NSCC's
Supplemental Liquidity Needs, as well as the depositing Member's
Regular

Activity (or Special Activity) Peak Liquidity Exposure.
    As noted above under ``Interim Adjustments and Calls,'' to the
extent that NSCC observes a peak shortfall that breaches predetermined
thresholds at any time throughout the year, the amount of the shortfall
will be allocated solely to the Member responsible for the activity
that caused the shortfall. The liquidity called as a result of that
shortfall will be held until the next applicable reset period. This is
intended to incentivize Members to make Prefund Deposits to avoid
Liquidity Calls, since Prefund Deposits are refunded after the period
of activity for which they were made, while Liquidity Calls are
retained until the next regular calculation of the applicable
supplemental deposit.
Treatment and Use of the Supplemental Deposits
    All Regular Activity Supplemental Deposits (other than Regular
Activity Prefund Deposits), as adjusted semi-annually, shall remain on
deposit in the Clearing Fund, and may not be withdrawn by the
applicable Member until five (5) business days after the next following
maturity date of the Credit Facility (generally, for a period of 364
days). Regular Activity Prefund Deposits shall remain on deposit in the
Clearing Fund and may not be withdrawn by the applicable Member until
seven (7) days after they are deposited. All Special Activity
Supplemental Deposits (including Special Activity Prefund Deposits) may
be refunded to the Special Activity Liquidity Providers seven (7)
business days after the end of the applicable Options Expiration
Activity Period.
    Any amounts deposited in response to a Liquidity Call for an
additional Regular Activity Supplemental Deposit must remain in the
Clearing Fund until the next semi-annual calculations of the Regular
Activity Liquidity Obligations, and any amounts deposited in response
to a Liquidity Call for an additional Special Activity Supplemental
Deposit must remain in the Clearing Fund until two (2) business days
preceding the next Options Expiration Activity Period.
    A Member's Supplemental Deposit will be made in addition to its
Required Deposit to the Clearing Fund, and any other deposit of any
such Member to the Clearing Fund.
    A Member's Supplemental Deposit will be considered part of that
Member's actual deposit to the Clearing Fund, and, as such, may be used
to satisfy obligations of that Member to NSCC, in the same manner as
provided in Section 3 of Rule 4. Therefore, if the Member who
contributed the Supplemental Deposit defaults, NSCC will be permitted
to use its entire actual deposit, which will include the amount of its
Supplemental Deposit, to satisfy any loss resulting from closing out
that Member's open positions.
    A Member's Supplemental Deposit will not, however, constitute part
of its Required Deposit under NSCC's Rule 4, and, as such, will not be
used, pursuant to Section 4 of Rule 4, to satisfy the obligations of
any other Member of NSCC that has defaulted in the performance of its
obligations to NSCC. A Member's Supplemental Deposit, therefore, will
not be used in calculating any pro rata charge (i.e., loss assessment)
due from that Member in the event of the default of another Member
under Rule 4. Supplemental Deposits will also not be subject to the
provisions of Section 6 of Rule 4 when a Member ceases to be a
participant.
    Pending any permitted use described in NSCC's Rules, the aggregate
of all Supplemental Deposits on deposit at NSCC may be invested by NSCC
as permitted pursuant to the investment policy adopted by NSCC and as
in effect from time to time, and in the same manner the Clearing Fund
is invested pursuant to such investment policy. Any interest earned on
investment of a Supplemental Deposit, as a part of a Member's actual
deposit, will be payable at the rate that NSCC earns on the investment
of such funds, credited monthly and paid on demand.
Implementation Timeframe
    Pending Commission approval, Members will be advised of the
implementation date of this proposal through issuance of an NSCC
Important Notice. Members will be provided not less than ten (10) days'
notice of the first date on which Supplemental Deposits will be
payable.
Proposed Rule Changes
    NSCC proposes to amend its Rules to create a new Rule 4A to reflect
the changes as described above. For both the Regular Activity
Supplemental Deposits and the Special Activity Supplemental Deposits,
the new Rule 4A will provide: (i) A general description of the relevant
Supplemental Deposit, (ii) a provision describing the calculation and
operation of the funding obligation, and (iii) a description of the
treatment and permitted uses of the Supplemental Deposit by NSCC. NSCC
believes that this proposed rule change contributes to NSCC's goal of
assuring that NSCC has adequate liquidity resources to meet its
settlement obligations during both Regular Activity Periods and Options
Expiration Activity Periods, notwithstanding the default of its
unaffiliated Members and/or Affiliated Families that pose the largest
aggregate liquidity exposure over the relevant settlement cycle. As
such, NSCC believes that the proposal is consistent with the
requirements of the Act, as amended, and the rules and regulations
thereunder applicable to NSCC.

(B) Self-Regulatory Organization's Statement on Burden on Competition

    NSCC believes that the proposed rule change will not impose any
burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act. By calculating an unaffiliated
Member's or Affiliated Family's Supplemental Deposit funding obligation
in proportion to the liquidity needs that such unaffiliated Member or
Affiliated Family presents to NSCC, NSCC believes that the proposed
rule change will ensure that NSCC's Members fairly and equitably
contribute to NSCC's liquidity resources for settlement. Further, NSCC
believes that the proposed rule change contributes to the goal of
financial stability in the event of Member default, rendering not
unreasonable or inappropriate any burden on competition that the
changes could be regarded as imposing.

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

    Written comments relating to the proposed rule change have not yet
been solicited or received. NSCC will notify the Commission of any
written comments received by NSCC.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve or disapprove such proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.
    The proposal shall not take effect until all regulatory actions
required with respect to the proposal are completed.\6\ The clearing
agency shall

post notice on its Web site of proposed changes that are implemented.
---------------------------------------------------------------------------

    \6\ NSCC also filed the proposals contained in this proposed
rule change as an advance notice Pursuant to Section 806(e)(1) of
the Clearing Supervision Act and Rule 19b-4(n)(1)(i) thereunder. 12
U.S.C. 5465(e)(1); 17 CFR 240.19b-4(n)(i). Proposed changes filed
under the Clearing Supervision Act may be implemented either: at the
time the Commission notifies the clearing agency that it does not
object to the proposed change and authorizes its implementation, or,
if the Commission does not object to the proposed change, within 60
days of the later of (i) the date that the advance notice was filed
with the Commission or (ii) the date that any additional information
requested by the Commission is received. 12 U.S.C. 5465(e)(1)(G).
---------------------------------------------------------------------------

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-NSCC-2013-02 on the subject line.

Paper Comments

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

All submissions should refer to File No. SR-NSCC-2013-02. 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 filings also will be available
for inspection and copying at the principal office of NSCC and on
NSCC's Web site at http://dtcc.com/downloads/legal/rule_filings/2013/nscc/SR-NSCC-2013-02.pdf.
    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 No. SR-NSCC-2013-02 and
should be submitted on or before May 1, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-08332 Filed 4-9-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 77, Number 68 (Monday, April 9, 2012)]
[Notices]
[Page 21094]
[FR Doc No: 2012-8442]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL12-54-000]

Viridity Energy, Inc. v. PJM Interconnection, L.L.C.; Notice of
Complaint

    Take notice that on March 29, 2012, pursuant to section 206 of the
Rules and Practice and Procedure of the Federal Energy Regulatory
Commission (Commission), 18 CFR 385.206 and section 206 of the Federal
Power Act, 16 U.S.C. 824(e), Viridity Energy, Inc. (Complainant) filed
a formal complaint against PJM Interconnection, L.L.C. (Respondent)
alleging that a portion of a provision in the Respondent's Open Access
Transmission Tariff, Emergency Load Response Program, is unjust,
unreasonable, and unduly discriminatory.
    The Complainant states that copies of the complaint were served on
representatives of the Respondent.
    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. The Respondent's
answer and all interventions, or protests must be filed on or before
the comment date. The Respondent's answer, motions to intervene, and
protests must be served on the Complainants.
    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 14 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<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m. Eastern Time on April 18, 2012.

    Dated: April 3, 2012.
Kimberly D. Bose,
Secretary.
[FR Doc. 2012-8442 Filed 4-6-12; 8:45 am]
BILLING CODE 6717-01-P