[Federal Register Volume 84, Number 71 (Friday, April 12, 2019)]
[Notices]
[Pages 14928-14932]
[FR Doc No: 2019-07313]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket Nos. CP17-495-000 and CP17-494-000]

Notice of Availability of the Draft Environmental Impact
Statement for the Proposed Jordan Cove Energy Project, Correction

AGENCY: Federal Energy Regulatory Commission, Department of Energy.

ACTION: Notice of availability; correction.

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SUMMARY: This document corrects the Notice of Availability of the Draft
Environmental Impact Statement for the proposed Jordan Cove Energy
Project (CP17-495-000 and CP17-494-000) which published in the Federal
Register on Friday, April 5, 2019. The attachment to the Notice, which
contained the Forest Service Planning Rule Requirements, was
inadvertently omitted. This corrects the omission by republishing the
Notice in its entirety with the attachment.

DATES: Comments are due July 5, 2019.

Kimberly D. Bose,
Secretary.

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

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                                                           Docket Nos.
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Jordan Cove Energy Project LP..........................     CP17-495-000
Pacific Connector Gas Pipeline L.P.....................     CP17-494-000
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Notice of Availability of the Draft Environmental Impact Statement for
the Proposed Jordan Cove Energy Project

    The staff of the Federal Energy Regulatory Commission (FERC or
Commission) with the participation of the cooperating agencies listed
below, has prepared a draft environmental impact statement (EIS) for
the Jordan Cove Liquefied Natural Gas Project proposed by Jordan Cove
Energy Project LP (Jordan Cove) and the Pacific Connector Gas Pipeline
Project proposed by Pacific Connector Gas Pipeline L.P. (Pacific
Connector) (collectively referred to as the Jordan Cove Energy Project
or Project). Under Section 3 of the Natural Gas Act (NGA), Jordan Cove
requests authorization to liquefy at a terminal in Coos Bay, Oregon up
to 1.04 billion cubic feet of natural gas per day for export for to
overseas markets. Pacific Connector seeks a Certificate of Public
Convenience and Necessity under Section 7 of the NGA to construct and
operate an interstate natural gas transmission pipeline providing about
1.2 billion cubic feet per day of natural gas from the Malin hub to the
Jordan Cove terminal, crossing portions of Klamath, Jackson, Douglas,
and Coos Counties, Oregon.
    The draft EIS assesses the potential environmental effects of the
construction and operation of the Project in accordance with the
requirements of the National Environmental Policy Act (NEPA). As
described in the draft EIS, the FERC staff concludes that approval of
the Project would result in a number of significant environmental
impacts; however, the majority of impacts would be less than
significant because of the impact avoidance, minimization, and
mitigation measures proposed by Jordan Cove and Pacific Connector and
those recommended by staff in the draft EIS.
    The United States Department of the Interior Bureau of Land
Management (BLM); U.S. Department of Agriculture Forest Service (Forest
Service); Bureau of Reclamation (Reclamation); U.S. Department of
Energy; U.S. Army Corps of Engineers; U.S. Environmental Protection
Agency; U.S. Department of the Interior Fish and Wildlife Service; U.S.
Department of Commerce National Oceanic and Atmospheric
Administration's National Marine Fisheries Service; U.S. Department of
Homeland Security Coast Guard; the Coquille Indian Tribe; and the
Pipeline and Hazardous Materials Safety Administration within the U.S.
Department of Transportation

participated as cooperating agencies in preparation of this EIS.
Cooperating agencies have jurisdiction by law or special expertise with
respect to resources potentially affected by the proposal and
participate in the NEPA analysis. The cooperating agencies provided
input into the conclusions and recommendations presented in the draft
EIS. Following issuance of the final EIS, the cooperating agencies will
issue subsequent decisions, determinations, permits or authorizations
for the Project in accordance with each individual agency's regulatory
requirements.
    The BLM, with the concurrence of the Forest Service and
Reclamation, would adopt and use the EIS to consider issuing a right-
of-way grant for the portion of the Project on federal lands. Other
cooperating agencies would use this EIS in their regulatory process,
and to satisfy compliance with NEPA and other related federal
environmental laws (e.g., the National Historic Preservation Act).
    The BLM and the Forest Service would also use this EIS to evaluate
proposed amendments to their District or National Forest land
management plans that would make provision for the Pacific Connector
pipeline. In order to consider the Pacific Connector right-of-way
grant, the BLM must amend the affected Resource Management Plans
(RMPs). The BLM therefore proposes to amend the RMPs to re-allocate all
lands within the proposed temporary use area and right-of-way to a
District-Designated Reserve, with management direction to manage the
lands for the purposes of the Pacific Connector right-of-way.
Approximately 885 acres would be re-allocated. District-Designated
Reserve allocations establish specific management for a specific use or
to protect specific values and resources. In accordance with Code of
Federal Regulations (CFR) part 36 CFR 219.16, the Forest Service gives
notice of its intent to consider amendments of Land and Resource
Management Plans (LRMP) for the Umpqua, Rogue River and Winema National
Forests. Proposed amendments of LRMPs include reallocation of matrix
lands to Late Successional Reserves and site-specific exemptions from
standards and guidelines and other LRMP requirements to allow
construction of the Pacific Connector pipeline. Exemptions from
standards and guidelines include requirements to protect known sites of
Survey and Manage species, changes in visual quality objectives at
specific locations, limitations on detrimental soil conditions, removal
of effective shade at perennial stream crossings and the construction
of utility corridors in riparian areas. Further information on Forest
Service LRMP amendments is included below.
    The Commission mailed a copy of the Notice of Availability of the
draft EIS to federal, state, and local government representatives and
agencies; elected officials; environmental and public interest groups;
Indian Tribes; potentially affected landowners and other interested
individuals and groups; and newspapers and libraries in the Project
area. The draft EIS is only available in electronic format. It may be
viewed and downloaded from the FERC's website (www.ferc.gov), on the
Environmental Documents page (https://www.ferc.gov/industries/gas/enviro/eis.asp). In addition, the draft EIS may be accessed by using
the eLibrary link on the FERC's website. Click on the eLibrary link
(https://www.ferc.gov/docs-filing/elibrary.asp), click on General
Search, and enter the docket number in the ``Docket Number'' field,
excluding the last three digits (i.e., CP17-494 or CP17-495). Be sure
you have selected an appropriate date range. For assistance, please
contact FERC Online Support at [email protected] or toll free
at<PHONE_NUMBER>, or for TTY, contact<PHONE_NUMBER>.
    Any person wishing to comment on the draft EIS may do so. Your
comments should focus on the draft EIS's disclosure and discussion of
potential environmental effects, reasonable alternatives, and measures
to avoid or lessen environmental impacts. To ensure consideration of
your comments on the proposal in the final EIS, it is important that
the Commission receive your comments on or before 5:00 p.m. Eastern
Time on July 5, 2019.
    For your convenience, there are four methods you can use to submit
your comments to the Commission.\1\ The Commission will provide equal
consideration to all comments received, whether filed in written form
or provided verbally. The Commission encourages electronic filing of
comments and has staff available to assist you at<PHONE_NUMBER> or
[email protected]. Please carefully follow these instructions
so that your comments are properly recorded.
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    \1\ The contents of your comment including your address, phone
number, email address, or other personal identifying information may
be made available to the public. While you may request that your
personal identifying information be withheld from public view, we
cannot guarantee that we will be able to do so.
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    (1) You can file your comments electronically using the eComment
feature on the Commission's website (www.ferc.gov) under the link to
Documents and Filings. This is an easy method for submitting brief,
text-only comments on a project;
    (2) You can file your comments electronically by using the eFiling
feature on the Commission's website (www.ferc.gov) under the link to
Documents and Filings. With eFiling, you can provide comments in a
variety of formats by attaching them as a file with your submission.
New eFiling users must first create an account by clicking on
``eRegister.'' If you are filing a comment on a particular project,
please select ``Comment on a Filing'' as the filing type; or
    (3) You can file a paper copy of your comments by mailing them to
the following address. Be sure to reference the Project docket numbers
(CP17-494-000 and CP17-495-000) with your submission: Kimberly D. Bose,
Secretary, Federal Energy Regulatory Commission, 888 First Street NE,
Room 1A, Washington, DC 20426.
    (4) In lieu of sending written or electronic comments, the
Commission invites you to attend a public comment session that will be
held in the Project area to receive comments on the draft EIS. The
dates, locations, and times of these sessions will be provided in a
supplemental notice.
    Any person seeking to become a party to the proceeding must file a
motion to intervene pursuant to Rule 214 of the Commission's Rules of
Practice and Procedures (18 CFR 385.214). Motions to intervene are more
fully described at http://www.ferc.gov/resources/guides/how-to/intervene.asp. Only intervenors have the right to seek rehearing or
judicial review of the Commission's decision. The Commission grants
affected landowners and others with environmental concerns intervenor
status upon showing good cause by stating that they have a clear and
direct interest in this proceeding which no other party can adequately
represent. Simply filing environmental comments will not give you
intervenor status, but you do not need intervenor status to have your
comments considered. Subsequent decisions, determination, permits, and
authorization by the cooperating agencies are subject to the
administrative procedures of each respective agency.

Questions?

    Additional information about the Project is available from the
Commission's Office of External Affairs, at (866) 208-FERC, or on the
FERC website (www.ferc.gov) using the eLibrary link. The eLibrary link
also provides access to the texts of all formal

documents issued by the Commission, such as orders, notices, and
rulemakings.
    In addition, the Commission offers a free service called
eSubscription that allows you to keep track of all formal issuances and
submittals in specific dockets. This can reduce the amount of time you
spend researching proceedings by automatically providing you with
notification of these filings, document summaries, and direct links to
the documents. Go to www.ferc.gov/docs-filing/esubscription.asp.

    Dated: March 29, 2019.

Kimberly D. Bose,

Secretary.

Forest Service Planning Rule Requirements

Proposed Actions of the Forest Service

    The purpose of and need for the proposed action by the Forest
Service is to consider amending affected National Forest land and
resource management plans to make provision for the Pacific Connector
right-of-way.

Responsible Official for the Forest Service Amendments

    The Forest Supervisor of the Umpqua National Forest is responsible
for all LRMP amendments. If the Forest Service adopts the FERC EIS for
the Pacific Connector Pipeline Project, the Forest Supervisor of the
Umpqua National Forest will decide whether to amend the LRMPs of the
Umpqua, Rogue River, and Winema National Forests as proposed or as
described in an alternative.
    Pursuant to Title 40 of the Code of Federal Regulations, Part
1506.3(c) (40 CFR 1506.3(c)), the Forest Service may adopt and use the
EIS developed by FERC to consider amendments to the LRMPs that would be
required for the proposed crossings of the three National Forests
affected. The Forest Service will prepare a final Record of Decision
for the plan amendments decisions, after issuance of the FERC final
EIS.
    The following amendments have been proposed by the Forest Service
as part of the proposed action in the FERC draft EIS:
Amendment of Forest Service Land Management Plans
    Forest Service-1--Project-Specific Amendment to Exempt Management
Recommendations for Survey and Manage Species on the Umpqua National
Forest, Rogue River National Forest, and Winema National Forest LRMPs:
    Applicable National Forest LRMPs would be amended to exempt certain
known sites within the area of the proposed Pacific Connector right-of-
way grant from the Management Recommendations required by the 2001
``Record of Decision and Standards and Guidelines for Amendments to the
Survey and Manage, Protection Buffer, and other Mitigation Measures
Standards and Guidelines. This is a project-specific plan amendment
applicable only to the Pacific Connector Pipeline Project and would not
change future management direction for any other project. The amendment
would provide an exception from these standards for the Pacific
Connector Project and include specific mitigation measures and project
design requirements for the project.
Amendment of the Umpqua National Forest LRMP
    UNF-1--Project-Specific Amendment to Allow Removal of Effective
Shade on Perennial Streams:
    The Umpqua National Forest LRMP would be amended to exempt the
Standards and Guidelines for Fisheries (Umpqua National Forest LRMP,
page IV-33, Forest-Wide) to allow the removal of effective shading
vegetation where perennial streams are crossed by the Pacific Connector
right-of-way. The amendment would provide an exception from these
standards for the Pacific Connector Pipeline Project and include
specific mitigation measures and project design requirements for the
project. This is a project-specific plan amendment applicable only to
the Pacific Connector Pipeline Project and would not change future
management direction for any other project.
    UNF-2--Project-Specific Amendment to Allow the Pacific Connector
Pipeline Project in Riparian Areas:
    The Umpqua National Forest LRMP would be amended to change
prescriptions C2-II (LRMP IV-173) and C2-IV (LRMP IV-177) to allow the
Pacific Connector pipeline route to run parallel to the East Fork of
Cow Creek for approximately 0.1 mile. The amendment would provide an
exception from these standards for the Pacific Connector Pipeline
Project and include specific mitigation measures and project design
requirements for the project. This is a project-specific plan amendment
applicable only to the Pacific Connector Pipeline Project and would not
change future management direction for any other project.
    UNF-3--Project-Specific Amendment to Exempt Limitations on
Detrimental Soil Conditions within the Pacific Connector Right-of-Way
in All Management Areas:
    The Umpqua National Forest LRMP would be amended to exempt
limitations on the area affected by detrimental soil conditions from
displacement and compaction within the Pacific Connector right-of-way.
The amendment would provide an exception from these standards for the
Pacific Connector Pipeline Project and include specific mitigation
measures and project design requirements for the project. This is a
project-specific plan amendment applicable only to the Pacific
Connector Pipeline Project and would not change future management
direction for any other project.
    UNF-4--Reallocation of Matrix Lands to LSR:
    The Umpqua National Forest LRMP would be amended to change the
designation of approximately 588 acres from Matrix land allocations to
the LSR land allocation. This change in land allocation is proposed to
partially mitigate the potential adverse impact of the Pacific
Connector Pipeline Project on LSR 223 on the Umpqua National Forest.
This is a plan level amendment that would change future management
direction for the lands reallocated from Matrix to LSR.
Amendment of the Rogue River National Forest LRMP
    RRNF-2--Project Specific Amendment of Visual Quality Objectives
(VQO) on the Big Elk Road:
    The Rogue River National Forest LRMP would be amended to change the
VQO where the Pacific Connector pipeline route crosses the Big Elk
Road. The amendment would provide an exception from these standards for
the Pacific Connector Pipeline Project and include specific mitigation
measures and project design requirements for the project. This is a
project-specific plan amendment that would apply only to the Pacific
Connector Pipeline Project in the vicinity of Big Elk Road and would
not change future management direction for any other project.
    RRNF-3--Project-Specific Amendment of VQO on the Pacific Crest
Trail:
    The Rogue River National Forest LRMP would be amended to change the
VQO where the Pacific Connector pipeline route crosses the Pacific
Crest Trail. The amendment would provide an exception from these
standards for the Pacific Connector Pipeline Project and include
specific mitigation measures and project design requirements for the
project. This is a project-specific plan amendment that would apply
only to the Pacific Connector Pipeline Project in the vicinity of the
Pacific Crest Trail and

would not change future management direction for any other project.
    RRNF-4--Project-Specific Amendment of Visual Quality Objectives
Adjacent to Highway 140:
    The Rogue River National Forest LRMP would be amended to allow 10-
15 years to meet the VQO of Middleground Partial Retention. The
amendment would provide an exception from these standards for the
Pacific Connector Pipeline Project and include specific mitigation
measures and project design requirements for the project. This is a
project-specific plan amendment that would apply only to the Pacific
Connector Pipeline Project in Sections 11 and 12, T.37S., R.3E., W.M.,
OR, and would not change future management direction for any other
project.
    RRNF-5--Project-Specific Amendment to Allow the Pacific Connector
Pipeline Project in Management Strategy 26, Restricted Riparian Areas:
    The Rogue River National Forest LRMP would be amended to allow the
Pacific Connector right-of-way to cross the Restricted Riparian land
allocation. The amendment would provide an exception from these
standards for the Pacific Connector Pipeline Project and include
specific mitigation measures and project design requirements for the
project. This is a site-specific amendment applicable only to the
Pacific Connector Pipeline Project and would not change future
management direction for any other project.
    RRNF-6--Project-Specific Amendment to Exempt Limitations on
Detrimental Soil Conditions within the Pacific Connector Right-of-Way
in All Management Areas:
    The Rogue River National Forest LRMP would be amended to exempt
limitations on areas affected by detrimental soil conditions from
displacement and compaction within the Pacific Connector right-of-way
in all affected Management Strategies. The amendment would provide an
exception from these standards for the Pacific Connector Pipeline
Project and include specific mitigation measures and project design
requirements for the project. This is a project-specific plan amendment
applicable only to the Pacific Connector Pipeline Project and would not
change future management direction for any other project.
    RRNF-7--Reallocation of Matrix Lands to LSR:
    The Rogue River National Forest LRMP would be amended to change the
designation of approximately 512 acres from Matrix land allocations to
the LSR. This is a plan level amendment that would change future
management direction for the lands reallocated from Matrix to LSR.
Amendment of the Winema National Forest LRMP
    WNF-1--Project -Specific Amendment to Allow Pacific Connector
Pipeline Project in Management Area 3:
    The Winema National Forest LRMP would be amended to change the
Standards and Guidelines for Management Area 3 (MA-3). The amendment
would provide an exception from these standards for the Pacific
Connector Pipeline Project and include specific mitigation measures and
project design requirements. This is a project-specific plan amendment
applicable only to the Pacific Connector Pipeline Project and would not
change future management direction for any other project.
    WNF-2--Project-Specific Amendment of VQO on the Dead Indian
Memorial Highway:
    The Winema National Forest LRMP would be amended to allow 10-15
years to achieve the VQO of Foreground Retention where the Pacific
Connector right-of-way crosses the Dead Indian Memorial Highway. The
amendment would provide an exception from these standards for the
Pacific Connector Pipeline Project and include specific mitigation
measures and project design requirements for the project. This is a
project-specific plan amendment that would apply only to the Pacific
Connector Pipeline Project in the vicinity of the Dead Indian Memorial
Highway and would not change future management direction for any other
project.
    WNF-3--Project-Specific Amendment of VQO Adjacent to the Clover
Creek Road:
    The Winema National Forest LRMP would be amended to allow 10-15
years to meet the VQO for Scenic Management, Foreground Partial
Retention, where the Pacific Connector right-of-way is adjacent to the
Clover Creek Road. The amendment would provide an exception from these
standards for the Pacific Connector Pipeline Project and include
specific mitigation measures and project design requirements for the
project. This is a project-specific plan amendment that would apply
only to the Pacific Connector Pipeline Project in the vicinity of
Clover Creek Road and would not change future management direction for
any other project.
    WNF-4--Project-Specific Amendment to Exempt Limitations on
Detrimental Soil Conditions within the Pacific Connector Right-of-Way
in All Management Areas:
    The Winema National Forest LRMP would be amended to exempt
restrictions on detrimental soil conditions from displacement and
compaction within the Pacific Connector right-of-way in all affected
management areas. The amendment would provide an exception from these
standards for the Pacific Connector Pipeline Project and include
specific mitigation measures and project design requirements for the
project. This is a project-specific plan amendment applicable only to
the Pacific Connector Pipeline Project and would not change future
management direction for any other project.
    WNF-5--Project-Specific Amendment to Exempt Limitations on
Detrimental Soil Conditions within the Pacific Connector Right-of-Way
in Management Area 8:
    The Winema National Forest LRMP would be amended to exempt
restrictions on detrimental soil conditions from displacement and
compaction within the Pacific Connector right-of-way within the
Management Area 8, Riparian Area (MA-8). The amendment would provide an
exception from these standards for the Pacific Connector Pipeline
Project and include specific mitigation measures and project design
requirements for the project. This is a project-specific plan amendment
applicable only to the Pacific Connector Pipeline Project and would not
change future management direction for any other project.

Comments and Administrative Review of Forest Service Decisions To Amend
Land Management Plans

    The Forest Service is requesting public comments on proposed
amendments of the LRMPs that would allow the Pacific Connector Gas
Pipeline to cross the UNF, RRNF, and WNF. All comments must be
submitted to the FERC as directed in this notice.
    All comments must be submitted to the FERC, the lead federal
agency, within the timeframe stated in this Notice of Availability.
Refer to Docket No. CP17-494-000 in all correspondence to ensure that
your comments are correctly filed in the record. You may submit your
comments to the FERC using one of the four methods listed in this
notice. Only those who submit timely and specific written comments
during the public comment period are eligible to file an objection with
the Forest Service.
    The proposed Forest Service plan amendments are being developed in
accordance with the planning regulations at 36 CFR 219 (2012).

Decisions by the Forest Service to approve ``plan level'' amendments to
Land Management Plans (proposed amendments UNF-4 and RRNF-7 in this
Notice) are subject to the Pre-Decisional Administrative Review Process
Regulations at 36 CFR 219 subpart B. The term ``plan level'' refers to
plan amendments that would apply to future management actions.
    Decisions by the Forest Service to approve ``project-specific''
plan amendments (proposed amendments UNF-1 thru 3, RRNF-2 thru 6, and
WNF-1 thru 5 in this Notice) are subject to the Administrative Review
Process of 36 CFR 218 subpart A and B, in accordance with 36 CFR
219.59(b). The term ``project specific'' refers to amendments that
would only apply to the proposed project and would not apply to any
future management actions. Refer to the applicable administrative
review regulations for eligibility requirements.
    The Forest Service concurrence to BLM to issue a right-of-way grant
would not be a decision subject to NEPA and, therefore, would not be
subject to the Forest Service administrative review procedures.

[FR Doc. 2019-07313 Filed 4-11-19; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 87, Number 46 (Wednesday, March 9, 2022)]
[Notices]
[Pages 13284-13285]
[FR Doc No: 2022-04959]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 2221-000]

Empire District Electric Company; Notice of Authorization for
Continued Project Operation

    On February 28, 2020, Empire District Electric Company, licensee
for the Ozark Beach Hydroelectric Project No. 2221, filed an
Application for a New License for Ozark Beach Hydroelectric Project
pursuant to the Federal Power Act (FPA) and the Commission's
regulations thereunder. The Ozark Beach Hydroelectric Project is
located on the White River near the Town of Forsyth, in Taney County,
Missouri.
    The license for Project No. 2221 was issued for a period ending
February 28, 2022. 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(s) 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. 2221 is issued to
Empire District Electric Company, for a period effective March 1, 2022
through February 28, 2023 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 February 28, 2023, 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 Empire District Electric Company, is authorized to
continue operation of the Ozark Beach Hydroelectric Project, until such
time as the Commission acts on its application for a new license.

    Dated: March 3, 2022.
Kimberly D. Bose,
Secretary.
[FR Doc. 2022-04959 Filed 3-8-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 87, Number 72 (Thursday, April 14, 2022)]
[Notices]
[Pages 22276-22280]
[FR Doc No: 2022-07951]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94650; File No. SR-ICC-2022-004]

Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of
Filing of Proposed Rule Change Relating to the ICC Recovery Plan and
the ICC Wind-Down Plan

April 8, 2022.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4,\2\ notice is hereby given that on
April 1, 2022, ICE Clear Credit LLC (``ICC'') filed with the Securities
and Exchange Commission (the ``Commission'') the proposed rule change
as described in Items I, II, and III below, which Items have been
prepared primarily by ICC. 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

    The principal purpose of the proposed rule change is to revise the
ICC Recovery Plan and the ICC Wind-Down Plan (collectively, the
``Plans''). These revisions do not require any changes to the ICC
Clearing Rules (the ``Rules'').

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

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

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

(a) Purpose
    ICC proposes revising the ICC Recovery Plan and the ICC Wind-Down
Plan, which serve as plans for the recovery and orderly wind-down of
ICC necessitated by credit losses, liquidity shortfalls, losses from
general business risk, or any other losses, consistent with Rule 17Ad-
22(e)(3)(ii).\3\ ICC proposes to make such changes effective following
Commission approval of the proposed rule change. The proposed rule
change is described in detail as follows.
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    \3\ 17 CFR 240.17Ad-22(e)(3)(ii).
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ICC Recovery Plan
    Consistent with the regulations applicable to ICC, the Recovery
Plan is designed to establish ICC's actions to maintain its viability
as a going concern to address any uncovered credit loss, liquidity
shortfall, capital inadequacy, or business, operational or other
structural weakness that threatens ICC's viability. ICC proposes
general updates and edits to promote clarity and to ensure that the
information provided is current. The proposed amendments reflect and
relate to changes that impacted ICC in the past year, including changes
to the composition of the ICC Board of Managers (collectively, the
``Board'' and each, a ``Manager'') and the responsibilities and
membership composition of internal committees.
    ICC proposes general updates to ensure that the information in the
Recovery Plan is current. In Section I and throughout the document, the
proposed changes specify that the information provided is current as of
December 31, 2021, unless otherwise stated. Namely, the proposed
changes ensure that relevant information regarding ICC for recovery
planning, such as information about ICC's ownership and operation, is
current with respect to:
     Activities of Intercontinental Exchange, Inc. (``ICE'' or
collectively, the ``ICE Group'' of affiliated companies with ICE as the
ultimate parent) in Section II.A;
     clearing Index Swaptions by ICC in Section IV.A;
     data regarding ICC revenues, volumes, and expenses in
Section IV.D;
     ICC personnel and facilities in Section VI.A;
     financial resources for recovery in Section X;
     ICC and ICE Group financial information in Section XI; and
     Financial service providers (``FSPs'') that hold Clearing
Participant (``CP'') cash and collateral in Appendix C in Section XIII.
    Additionally, ICC proposes to amend the composition of the Board
and the descriptions of internal committees to reflect changes that
impacted ICC in 2021. In Section IV.C.1, ICC proposes to change the
Board size from eleven to nine managers, consistent with the adoption
of the Sixth Amended and Restated Operating Agreement of ICC in 2021
(the ``Sixth A&R Operating Agreement''), and to revise Manager titles
as necessary.\4\ In Section IV.C.3, the proposed changes update the
responsibilities and membership composition of the Participant Review
Committee (``PRC'') and Credit Review Subcommittee of the PRC
(``CRS''), which are internal committees that assist in fulfilling
counterparty review responsibilities, consistent with changes to their
charters in 2021.\5\ ICC proposes corresponding changes in Section
VI.B.1 to describe the advisory role of the CRS in making
recommendations to the PRC and the role of the PRC in approving FSPs.
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    \4\ See SR-ICC-2021-017 for additional information on the
adoption of the Sixth A&R Operating Agreement.
    \5\ See SR-ICC-2021-015 for additional information on the roles
and responsibilities of the PRC and CRS.
---------------------------------------------------------------------------

    ICC proposes additional updates to promote clarity and consistency
in the Recovery Plan. Amended Section IV.E.4 notes that ICC monitors
FSPs daily, intraday, and monthly, consistent with the processes
described in the ICC Counterparty Monitoring Procedures.\6\ In Section
VII.B, ICC proposes to remove a metric that is no longer utilized to
measure ICC performance and to update a reference to a policy section.
Amended Section VII.C specifies that ICC will make required disclosures
pursuant to applicable regulations once the Recovery Plan is initiated
and includes updated regulatory contacts. In Section VIII.B.2, ICC
proposes minor language clarifications in describing the purpose of its
Liquidity Risk Management Framework. In Section VIII.B.3, ICC proposes
updates regarding the insurance coverage maintained at the ICE Group
level, which may be used as a recovery tool in a non-CP default
scenario.
---------------------------------------------------------------------------

    \6\ See SR-ICC-2021-021 for additional information on ICC's
counterparty monitoring processes and procedures.
---------------------------------------------------------------------------

    ICC proposes changes related to seeking additional capital from the
ICE Group in Section VIII.B.3, which is another recovery tool that may
be used in a non-CP default scenario. The proposed changes include
updated financial information, which is intended to establish that the
ICE Group is capable of making such infusion. Given the changes in
Board composition, ICC proposes revised procedures for seeking such
additional capital, including the individual within the ICE Group with
whom such discussions would begin. The proposed changes identify the
role of this individual within the ICE Group and update the composition
of certain ICE Group boards. Additionally, ICC proposes to include
updated financial information that is relevant to the execution of
other recovery tools that may be utilized in a non-CP default scenario.
    ICC proposes additional minor edits for clarity and consistency. In
Section IX, ICC proposes to clarify that the Recovery Plan is made
available to regulators in accordance with relevant regulations and to
incorporate a reference to the ICC Default Management Procedures for
details on ICC's default management testing. In Section XIV, the
proposed changes update the index of exhibits with the current versions
of policies and procedures, consistent with updated footnote
references. Finally, ICC proposes minor typographical fixes in the
Recovery Plan as well as conforming changes in in the Wind-Down Plan,
including updates to entity names, and grammatical and formatting
changes.
ICC Wind-Down Plan
    The Wind-Down Plan is designed to establish how ICC could be wound-
down in an orderly manner. ICC proposes corresponding changes to the
Wind-Down Plan. ICC proposes general updates and edits to promote
clarity and to ensure that the information provided is current. The
proposed amendments reflect and relate to changes that have impacted
ICC in the past year, including changes to the composition of the
Board.

    ICC proposes general updates to ensure that the information in the
Wind-Down Plan is current. In Section I and throughout the document,
the proposed changes specify that the information provided is current
as of December 31, 2021, unless otherwise stated. The proposed
revisions ensure that relevant information regarding ICC for wind-down
planning, such as information about ICC's ownership and operation, is
current with respect to:
     Activities of ICE in Section II.A;
     ICC personnel and facilities in Section VII.C;
     financial resources to support wind-down in Section IX;
and
     FSPs that hold CP cash and collateral in Appendix C in
Section XI.

ICC also proposes amendments with respect to the composition of the
Board to reflect changes that impacted ICC in 2021. In Section IV.B.1,
ICC proposes to change the Board size from eleven to nine managers,
consistent with the adoption of the Sixth A&R Operating Agreement in
2021, and revise manager titles as needed.
    ICC proposes additional updates and edits to promote clarity and
consistency in the Wind-Down Plan. Amended Section VI.A specifies that
ICC will make required disclosures pursuant to applicable regulations
once the decision to wind-down is made and includes updated regulatory
contacts. Furthermore, given the changes in Board composition, ICC
proposes revised procedures for seeking certain required consultations
or approvals identified in the Wind-Down Plan, including the individual
within the ICE Group with whom such discussions would begin. The
proposed changes identify the role of this individual within the ICE
Group and include information on the composition of a relevant ICE
Group board. In Section X, ICC proposes to note that the Wind-Down Plan
is made available to regulators in accordance with relevant regulations
and to clarify the testing of the Wind-Down Plan. In Section XII, the
proposed changes update the index of exhibits with the current versions
of policies and procedures, consistent with updated footnote
references.
(b) Statutory Basis
    ICC believes that the proposed rule change is consistent with the
requirements of Section 17A of the Act \7\ and the regulations
thereunder applicable to it, including the applicable standards under
Rule 17Ad-22.\8\ In particular, Section 17A(b)(3)(F) of the Act \9\
requires that the rule change be consistent with the prompt and
accurate clearance and settlement of securities transactions and
derivative agreements, contracts and transactions cleared by ICC, the
safeguarding of securities and funds in the custody or control of ICC
or for which it is responsible, and the protection of investors and the
public interest.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78q-1.
    \8\ 17 CFR 240.17Ad-22.
    \9\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------

    ICC believes the proposed changes would enhance its ability to
effectuate a successful recovery as well as to execute an orderly wind-
down by providing updates and additional clarity with respect to ICC's
recovery and wind-down processes and procedures. As discussed herein,
the proposed revisions ensure that relevant information regarding ICC
for recovery and wind-down planning is current, including updated
information regarding personnel and facilities, finances and
operations, and financial resources for recovery and wind-down. The
proposed amendments also reflect and relate to changes that impacted
ICC in the past year, including changes to the Board composition from
the adoption of the Sixth A&R Operating Agreement and the
responsibilities and membership composition of internal committees
based on their amended charters. Such changes ensure that the Plans
clearly and accurately set out the functions of the Board and
committees to remain effective and to ensure that these groups carry
out their required functions. To support and enhance the implementation
of the Plans, additional language clarifications or edits are included
so that the Plans remain up-to-date, transparent, and focused on
clearly articulating the policies and procedures used to support ICC's
recovery and wind-down efforts. Such revisions include additional
details regarding required disclosures, references to relevant
policies, updated information regarding recovery tools, and amended
language that is intended to be more precise. The Plans would thus
promote ICC's ability to continue providing clearing services with as
little disruption as possible, and should continuation not be feasible,
promote ICC's ability to discontinue clearing services in an orderly
manner with minimum negative impact to the marketplace and
stakeholders. Accordingly, in ICC's view, the proposed rule change is
consistent with the prompt and accurate clearance and settlement of
securities transactions, derivatives agreements, contracts, and
transactions, the safeguarding of securities and funds in the custody
or control of ICC or for which it is responsible, and the protection of
investors and the public interest, within the meaning of Section
17A(b)(3)(F) of the Act.\10\
---------------------------------------------------------------------------

    \10\ Id.
---------------------------------------------------------------------------

    The proposed rule change would also satisfy the relevant
requirements of Rule 17Ad-22.\11\ Rule 17Ad-22(e)(2) \12\ requires ICC
to establish, implement, maintain, and enforce written policies and
procedures reasonably designed to provide for governance arrangements
that are (i) clear and transparent; (iii) support the public interest
requirements of Section 17A of the Act \13\ applicable to clearing
agencies, and the objectives of owners and participants; and (v)
specify clear and direct lines of responsibility. The Plans clearly and
transparently set forth the governance arrangements that are relevant
to recovery and wind-down, including the roles and responsibilities of
the Board, applicable committees, and management. The Plans assign and
document responsibility and accountability for key recovery and wind-
down decisions, such as activating the Recovery Plan and deciding to
wind-down the business, and require consultation or approval from
relevant parties. Given the change in Board composition, the proposed
changes update procedures for seeking additional capital in a recovery
scenario and update procedures for seeking required consultations or
approvals in a wind-down scenario from the ICE Group. The amendments
ensure that the procedures for implementing these actions in a recovery
or wind-down scenario are up-to-date, transparent, and effective such
that responsible parties can act promptly without unnecessary delay.
Moreover, the governance arrangements in the Plans promote the safety
and efficiency of ICC and support the public interest requirements in
Section 17A of the Act \14\ applicable to clearing agencies, and the
objectives of owners and participants, by describing the roles and
responsibilities of relevant stakeholders to ensure that such groups or
individuals are able to discharge their responsibilities. As such, ICC
believes that the proposed rule change is consistent with the
requirements of Rule 17Ad-22(e)(2).\15\
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    \11\ 17 CFR 240.17Ad-22.
    \12\ 17 CFR 240.17Ad-22(e)(2).
    \13\ 15 U.S.C. 78q-1.
    \14\ Id.
    \15\ 17 CFR 240.17Ad-22(e)(2).
---------------------------------------------------------------------------

    Rule 17Ad-22(e)(3)(ii) \16\ requires ICC to establish, implement,
maintain, and enforce written policies and procedures

reasonably designed to maintain a sound risk management framework for
comprehensively managing legal, credit, liquidity, operational, general
business, investment, custody, and other risks that arise in or are
borne by ICC, which includes plans for the recovery and orderly wind-
down of ICC necessitated by credit losses, liquidity shortfalls, losses
from general business risk, or any other losses. The Recovery Plan
continues to establish ICC's actions to maintain its viability as a
going concern to address any uncovered credit loss, liquidity
shortfall, capital inadequacy, or business, operational or other
structural weakness that threatens ICC's viability. The Wind-Down Plan
continues to establish how ICC could be wound-down in an orderly manner
should its recovery efforts fail. As described above, the proposed
changes include updates and edits to promote clarity and to ensure that
the information in the Plans is current, such as updated information
regarding financial resources for recovery and wind-down, updated
information regarding recovery tools, including updated procedures for
seeking additional capital from the ICE Group, and updated procedures
for seeking required consultations or approvals in a wind-down
scenario. In ICC's view, such changes would ensure that the Plans
remain useful and effective in a recovery and wind-down scenario. The
proposed rule change would thus promote ICC's ability to carry out a
successful recovery or orderly wind-down, consistent with the
requirements of Rule 17Ad-22(e)(3)(ii).\17\
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    \16\ 17 CFR 240.17Ad-22(e)(3)(ii).
    \17\ Id.
---------------------------------------------------------------------------

    Rule 17Ad-22(e)(15) \18\ requires ICC to establish, implement,
maintain, and enforce written policies and procedures reasonably
designed to identify monitor, and manage ICC's general business risk
and hold sufficient liquid net assets funded by equity to cover
potential general business losses so that ICC can continue operations
and services as a going concern if those losses materialize, including
by (i) determining the amount of liquid net assets funded by equity
based upon its general business risk profile and the length of time
required to achieve a recovery or orderly wind-down, as appropriate, of
its critical operations and services if such action is taken; (ii)
holding liquid net assets funded by equity equal to the greater of
either (x) six months of ICC's current operating expenses, or (y) the
amount determined by the Board to be sufficient to ensure a recovery or
orderly wind-down of critical operations and services of ICC, as
contemplated by the plans established under Rule 17Ad-22(e)(3)(ii);
\19\ and (iii) maintain a viable plan, approved by the Board and
updated at least annually, for raising additional equity should its
equity fall close to or below the amount required under Rule 17Ad-
22(e)(15)(ii).\20\ The Plans continue to analyze ICC's particular
circumstances and risks to ensure that ICC maintains financial
resources necessary to implement both Plans and that ICC remains in
compliance with all regulatory capital requirements. The Plans include
updated information on the financial resources maintained by ICC for
recovery and to support wind-down in compliance with relevant
regulations and include procedures to follow in case of any shortfall.
Such changes continue to ensure that the Plans remain accurate and
useful and that ICC holds sufficient liquid net assets to achieve
recovery or orderly wind-down. As such, ICC believes that the proposed
rule change is consistent with the requirements of Rule 17Ad-
22(e)(15).\21\
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    \18\ 17 CFR 240.17Ad-22(e)(15).
    \19\ 17 CFR 240.17Ad-22(e)(3)(ii).
    \20\ 17 CFR 240.17Ad-22(e)(15)(ii).
    \21\ 17 CFR 240.17Ad-22(e)(15).
---------------------------------------------------------------------------

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

    ICC does not believe the proposed rule change would have any
impact, or impose any burden, on competition. The proposed changes to
the Plans will apply uniformly across all market participants. The
changes are being proposed to promote clarity and ensure that the
information provided is current in the Plans. ICC does not believe the
amendments would affect the costs of clearing or the ability of market
participants to access clearing. Therefore, ICC does not believe the
proposed rule change would impose any burden on competition that is
inappropriate 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 rule change have not been
solicited or received. ICC will notify the Commission of any written
comments received by ICC.

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.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-ICC-2022-004 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-ICC-2022-004. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of such filings will also be available for inspection
and copying at the principal office of ICE Clear Credit and on ICE
Clear Credit's website at https://www.theice.com/clear-credit/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-ICC-
2022-004 and should be submitted on or before May 5, 2022.
---------------------------------------------------------------------------

    \22\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022-07951 Filed 4-13-22; 8:45 am]
BILLING CODE 8011-01-P