[Federal Register Volume 84, Number 136 (Tuesday, July 16, 2019)]
[Notices]
[Pages 34021-34025]
[FR Doc No: 2019-15023]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86341; File No. SR-ICC-2019-008]

Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of
Filing of Proposed Rule Change Relating to the ICC Clearing Participant
Default Management Procedures and ICC Risk Management Framework

July 10, 2019.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on June 28, 2019, ICE Clear Credit LLC (``ICC'') filed with the
Securities and Exchange 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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

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 formalize
the ICC Clearing Participant (``CP'') Default Management Procedures
(``Default Management Procedures''). ICC also proposes related default
management enhancements to the ICC Risk Management Framework. 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 to formalize the Default Management Procedures. ICC
also proposes related default management enhancements to the Risk
Management Framework. ICC believes such revisions will facilitate the
prompt and accurate clearance and settlement of securities transactions
and derivative agreements, contracts, and transactions for which it is
responsible. ICC proposes to make such changes effective following
Commission approval of the proposed rule change. The proposed revisions
are described in detail as follows.
Default Management Procedures
    The Default Management Procedures set forth ICC's default
management process, including the actions taken by ICC to determine
that a CP is in default as well as the actions taken by ICC in
connection with such default to close-out the defaulter's portfolio
(the ``Close-Out''). Currently, ICC's default management rules and
procedures, including the tools available to manage a default and
return to a matched book, are in several ICC documents, including the
ICC Rules, the Default Auction Procedures--Initial Default Auctions,
and the Secondary Auction Procedures. The Default Management Procedures
do not change ICC's existing default management rules and procedures.
Instead, the Default Management Procedures provide additional detail
with respect to ICC's existing default management rules and procedures,
such as assigning responsibility for default management actions and
adding instructions on how to perform default management actions. ICC's
default management process is comprised of the following sub-processes,
each of which is detailed in a section in the document: Monitoring CPs
to identify those that are at risk of defaulting or are in default
(``Default Risk CPs''); declaring a default; transferring a defaulter's
client portfolios (``Porting Portfolios'') to non-defaulting Futures
Commission Merchants (``Potential Receiving FCMs''); consulting with
the CDS Default Committee, which is comprised of representatives from
no more than three CDS Committee-Eligible Participants; \3\ performing
Standard Default Management Actions and Secondary Default Management
Actions to facilitate the Close-Out; and managing default resources.
---------------------------------------------------------------------------

    \3\ A CP that has been approved by the Board for participation
in the CDS Default Committee.
---------------------------------------------------------------------------

    The Default Management Procedures introduce ICC's default
management process. The document contains a list of defined terms that
are key for default management and an overview of ICC's default
management process that consists of descriptions of the abovementioned
sub-processes.

Moreover, the Default Management Procedures describe how ICC and its
CPs maintain operational readiness to execute the default management
process. ICC maintains a CDS Default Committee whose members consist of
experienced trading personnel at CDS Committee-Eligible Participants
that serve on the CDS Default Committee on a six-month rotating basis
and, upon the declaration of a CP default, are seconded to ICC to
assist with default management. The Default Management Procedures set
forth detailed procedures for performing tasks that are necessary to
maintain operational readiness, including administering the CDS Default
Committee rotation process, working with customers of CPs who want to
directly participate in auctions (``Direct Participating Customers''),
maintaining up-to-date contact information, and testing the default
management process (``Default Test''). ICC annually conducts a Default
Test, in coordination with its CPs, and reviews the results to identify
any issues or lessons learned.
    The Default Management Procedures describe the sub-process of
monitoring CPs. As part of a counterparty monitoring program, ICC
performs daily, weekly, and quarterly monitoring designed, in part, to
identify Default Risk CPs. Upon identifying such CPs, the ICC President
(the ``President'') may take no action or may activate the team
responsible for overseeing the default management process, which is
composed of ICC management, the ICC Risk Oversight Officer, and the
most senior member of the Treasury Department (``Head of Treasury'')
(together, the ``Close-Out Team''), to move forward with the process of
declaring a default. The Default Management Procedures establish the
general procedures for identifying Default Risk CPs and activating the
Close-Out Team in addition to the procedures that are specific to
certain types of defaults and circumstances, including where a CP fails
to meet payment obligations to ICC; a CP has filed for bankruptcy or is
likely to fail to meet obligations due to dissolution, insolvency, or
bankruptcy related events; a CP has not complied, or is likely not to
comply, with certain limitations, conditions, or restrictions imposed
on it by ICC; and a CP or its guarantor has failed, or is likely to
fail, to meet obligations of ICC membership.
    ICC's activities immediately after the identification of a
potential default comprise the default declaration sub-process. The
Default Management Procedures list the actions that the Close-Out Team
performs after activation but before a default declaration. The Close-
Out Team holds an initial meeting to discuss, among other matters, the
circumstances surrounding the Default Risk CP(s), ICC's strategy for
the Close-Out, and ICC's plans for meeting upcoming payment
obligations. When the ICC General Counsel (``General Counsel'') is
satisfied that all conditions for determining the Default Risk CP(s) to
be in default are met and all required approvals are secured, the
General Counsel confirms by email which Default Risk CP(s) are in
default. ICC then communicates the default(s), including to ICC's CPs,
regulators, Risk Committee chairman, and the public. The Default
Management Procedures also set forth the procedures applicable to the
Close-Out Team following a default declaration to prepare for the
Close-Out.
    The Default Management Procedures discuss the CDS Default Committee
consultation sub-process. Certain matters are subject to consultation
with the CDS Default Committee, including the unwinding of the
defaulter's remaining portfolio and the structure and characteristics
of an auction, and certain actions may be delegated to the CDS Default
Committee, such as executing Initial Cover Transactions \4\ on ICC's
behalf. The Default Management Procedures establish procedures for
convening and adjourning a CDS Default Committee meeting in addition to
the actions taken at the initial CDS Default Committee meeting, which
include reviewing the defaulter's cleared portfolio, the Close-Out
strategy, the plan for transferring the Porting Portfolios to Potential
Receiving FCMs, and a schedule for re-convening the CDS Default
Committee over the period required to complete the Close-Out (the
``Close-Out Period'').
---------------------------------------------------------------------------

    \4\ As part of the Close-Out, ICC may enter into transactions
with CPs with respect to the defaulter's open positions to
facilitate an orderly unwind of the defaulter's open positions and
to mitigate damages to ICC and other CPs.
---------------------------------------------------------------------------

    To facilitate the Close-Out, ICC performs Standard Default
Management Actions during the Close-Out Period. ICC allows customers of
CPs who are not yet Direct Participating Customers to register as such
during the Close-Out Period to take part in auctions run by ICC. The
ICC Risk Department (``Risk Department'') and Close-Out Team work
together, in consultation with the CDS Default Committee, to implement
the Close-Out strategy through Standard Default Management Actions.
Specifically, the Default Management Procedures incorporate
instructions on executing Initial Cover Transactions by auction and
bilaterally, conducting Initial Default Auctions (``Initial
Auctions''),\5\ and executing bilateral direct liquidation transactions
in the market to liquidate positions. The document further assigns
responsibility for tracking the position changes that result from the
movement of positions or the creation of new positions.
---------------------------------------------------------------------------

    \5\ The Default Auction Procedures--Initial Default Auctions,
which govern Initial Auctions are available at: https://www.theice.com/publicdocs/ICC_Default_Auction_Procedures.pdf.
---------------------------------------------------------------------------

    In addition to Standard Default Management Actions, ICC may take
Secondary Default Management Actions to facilitate the Close-Out where
default resources are significantly depleted or no default resources
remain. ICC may call for assessment contributions, which CPs are
obligated to meet by providing additional amounts to the Guaranty Fund
(``GF''), in the event that the GF has been depleted or ICC anticipates
the need for additional funds related to a default. The Default
Management Procedures discuss the procedures for calling for assessment
contributions and initiating a Cooling-Off Period.\6\ During the
Cooling-Off Period, the Risk Department and Close-Out Team, in
consultation with the CDS Default Committee, continue to try to
liquidate the defaulter's remaining portfolio through Secondary
Auctions,\7\ which are subject to additional governance requirements.
If available default resources are exhausted and ICC has not returned
to a matched book, the Close-Out Team uses reasonable efforts to
consult with the Risk Committee and then seeks the Board's decision on
whether to (1) enter a Loss Distribution Period,\8\ (2) execute a
partial tear-up, \9\ (3) or terminate clearing services. The Default
Management Procedures detail the procedures for each of the
abovementioned Secondary Default Management Actions, including
notifying the public, CPs, and regulators; consulting with the Risk
Committee; obtaining the requisite

Board approvals; and executing the action.
---------------------------------------------------------------------------

    \6\ During a Cooling-Off Period, the aggregate liability of CPs
for ents of the GF and assessment contributions would be capped at
``3x'' their GF contribution for all defaults during that period.
    \7\ The Secondary Auction Procedures, which govern Secondary
Auctions are available at: https://www.theice.com/publicdocs/ICC_Secondary_Auction_Procedures.pdf.
    \8\ A Loss Distribution Period commences from and includes the
date specified by ICC in a notice following a reduced gains
distribution (``RGD'') determination. RGD allows ICC to reduce
payment of variation gains that would otherwise be owed to CPs as
ICC attempts a Secondary Auction or conducts a partial tear-up.
    \9\ In a partial tear-up, ICC terminates positions of non-
defaulting CPs that exactly offset those in the defaulting CP's
remaining portfolio.
---------------------------------------------------------------------------

    The Default Management Procedures provide an overview of the post-
default porting sub-process. The Risk Department, in consultation with
the CDS Default Committee, determine which Porting Portfolios to try to
transfer to Potential Receiving FCMs. To facilitate the transfers, ICC
distributes the Porting Portfolios to Potential Receiving FCMs and asks
them to indicate which portfolios they are willing to receive by a
deadline (``Porting Response Deadline''). The Default Management
Procedures also discuss specific procedures for post-default porting in
the case of a bankruptcy-related default, which require ICC to
communicate and coordinate with the defaulter's trustee in bankruptcy.
Following the Porting Response Deadline, ICC determines which Porting
Portfolios to transfer to which Potential Receiving FCMs, communicates
to each Potential Receiving FCM its assigned Porting Portfolios (if
any), and executes the relevant transfers.
    The Default Management Procedures set forth the default resource
management sub-process. The document includes procedures for the
identification and execution of collateral management activities that
are necessary for ICC to meet upcoming payment obligations. The Close-
Out Team meets daily during the Close-Out Period to review the
available liquid resources and determine how to meet upcoming payment
obligations. The Chief Operating Officer and Head of Treasury
coordinate the execution of collateral management activities, including
liquidating non-cash collateral in the defaulter's house and/or client
accounts or utilizing ICC's committed FX or committed repo facilities.
Further, the Default Management Procedures describe the maintenance of
a Default Management Ledger, which serves as a record to facilitate
decision making and implement ICC's default waterfall; the discussion
points during the Close-Out Team's daily meeting during the Close-Out
Period; and the application of any special payments during the Close-
Out Period.
Risk Management Framework
    ICC proposes related default management enhancements to the ICC
Risk Management Framework. Specifically, ICC proposes to incorporate a
reference to the Default Management Procedures in the `Governance and
Organization' section to specify that the Default Management Procedures
contain details regarding default management roles and responsibilities
of the Board, ICC management, and relevant committees. Additionally,
ICC proposes changes to the `Waterfall Level 6: GF Replenishment' sub-
section to more clearly describe CPs' obligations with respect to
replenishment and assessment contributions to the GF. The proposed
edits provide additional detail regarding the aggregate liability of
CPs for replenishment and assessment contributions. If the cap on the
additional GF contributions is reached, ICC may apply additional
Initial Margin (``IM'') requirements if necessary to maintain
compliance with regulatory financial resources requirements. The
proposed changes further discuss how the additional IM requirements are
computed and communicated to CPs. ICC also proposes to clarify the
maximum contribution of a retiring CP that has given notice of its
intent to terminate its CP status. Given the proposed formalization of
the Default Management Procedures, ICC proposes replacing a reference
to Appendix 3 of the Risk Management Framework (``Appendix 3''), which
currently contains default management procedures, with a reference to
the Default Management Procedures in the `Default Treatment' sub-
section and removing Appendix 3 from the Risk Management Framework.
(b) Statutory Basis
    Section 17A(b)(3)(F) of the Act \10\ requires, among other things,
that the rules of a clearing agency be designed to promote the prompt
and accurate clearance and settlement of securities transactions, and
to the extent applicable, derivative agreements, contracts and
transactions; to assure the safeguarding of securities and funds which
are in the custody or control of the clearing agency or for which it is
responsible; in general, to protect investors and the public interest;
and to comply with the provisions of the Act and the rules and
regulations thereunder. ICC believes that the proposed rule change is
consistent with the requirements of the Act and the rules and
regulations thereunder applicable to ICC, in particular, to Section
17(A)(b)(3)(F), \11\ because ICC believes that the proposed rule change
enhances ICC's ability to manage the risk of a default by describing
the processes for declaring a default and facilitating the Close-Out
and by providing additional details regarding the roles and obligations
of various stakeholders, such as the Board, Risk Committee, Close-Out
Team, CPs, and the CDS Default Committee. Namely, the Default
Management Procedures provide more detail with respect to ICC's
existing default management rules and procedures, including assigning
responsibility for default management actions and adding instructions
on how to perform default management actions. The proposed changes to
the Risk Management Framework incorporate reference to the proposed
Default Management Procedures and more clearly describe CPs'
obligations and aggregate liability with respect to replenishment and
assessment contributions to the GF. ICC believes that the formalization
of the Default Management Procedures and the amendments to the Risk
Management Framework augment ICC's procedures relating to default
management and enhance ICC's ability to withstand defaults and continue
providing clearing services, thereby promoting the prompt and accurate
clearance and settlement of securities transactions, derivatives
agreements, contracts, and transactions; the safeguarding of securities
and funds which are in the custody or control of ICC or for which it is
responsible; and the protection of investors and the public interest.
As such, the proposed rule change is designed to promote the prompt and
accurate clearance and settlement of securities transactions,
derivatives agreements, contracts, and transactions; to contribute to
the safeguarding of securities and funds associated with security-based
swap transactions in ICC's custody or control, or for which ICC is
responsible; and, in general, to protect investors and the public
interest within the meaning of Section 17A(b)(3)(F) of the Act.\12\
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78q-1(b)(3)(F).
    \11\ Id.
    \12\ Id.
---------------------------------------------------------------------------

    In addition, the proposed rule change is consistent with the
relevant requirements of Rule 17Ad-22.\13\ Rule 17Ad-22(b)(3) \14\
requires ICC to establish, implement, maintain and enforce written
policies and procedures reasonably designed to maintain sufficient
financial resources to withstand, at a minimum, a default by the two CP
families to which it has the largest exposures in extreme but plausible
market conditions. The Default Management Procedures provide detailed
instructions regarding the process for managing a default and returning
to a matched book, including conducting Standard and Secondary

Default Management Actions, identifying and executing collateral
management activities to meet payment obligations, and tracking default
management resources. The proposed changes to the Risk Management
Framework provide additional clarity regarding CPs' obligations
regarding replenishment and assessment contributions as well as the
computation of additional IM requirements that allow ICC to maintain
compliance with regulatory financial resources requirements. ICC
believes that such changes enhance ICC's ability to manage a default by
providing additional detail, transparency and clarity with respect to
ICC's default management rules and procedures, thereby ensuring that
ICC continues to maintain sufficient financial resources to withstand,
at a minimum, a default by the two CP families to which it has the
largest exposures in extreme but plausible market conditions,
consistent with the requirements of Rule 17Ad-22(b)(3).\15\
---------------------------------------------------------------------------

    \13\ 17 CFR 240.17Ad-22.
    \14\ 17 CFR 240.17Ad-22(b)(3).
    \15\ Id.
---------------------------------------------------------------------------

    Rule 17Ad-22(d)(4) \16\ requires ICC to establish, implement,
maintain and enforce written policies and procedures reasonably
designed to identify sources of operational risk and minimize them
through the development of appropriate systems, controls, and
procedures; implement systems that are reliable, resilient and secure,
and have adequate scalable capacity; and have business continuity plans
that allow for timely recovery of operations and fulfillment of a
clearing agency's obligations. The Default Management Procedures
describe how ICC and its CPs maintain operational readiness to execute
the default management process. The document sets forth ICC's processes
for carrying out an annual Default Test, reviewing the results of the
annual Default Test, and maintaining up-to-date contact information for
default contacts. Such testing and preparation allow ICC to identify
sources of operational risk and minimize them through the development
of appropriate systems, controls, and procedures and implement systems
that are reliable, resilient and secure, and have adequate scalable
capacity, consistent with the requirements of Rule 17Ad-22(d)(4).\17\
---------------------------------------------------------------------------

    \16\ 17 CFR 240.17Ad-22(d)(4).
    \17\ Id.
---------------------------------------------------------------------------

    Rule 17Ad-22(d)(8) \18\ requires ICC to establish, implement,
maintain and enforce written policies and procedures reasonably
designed to have governance arrangements that are clear and transparent
to fulfill the public interest requirements in Section 17A of the
Act.\19\ The proposed changes to the Risk Management Framework
strengthen the governance arrangements set forth in the document by
incorporating reference to the Default Management Procedures to note
the default management roles and responsibilities of the Board, ICC
management, and relevant committees. Moreover, the Default Management
Procedures clearly assign and document responsibility and
accountability for default management actions and decisions. The
governance procedures provide for consultation with the Risk Committee
and the CDS Default Committee, approval from the Board, and
notification to the public, CPs, and regulators. As such, these
governance arrangements are clear and transparent, such that
information relating to the assignment of responsibilities and the
requisite involvement of the Board, Risk Committee, CDS Default
Committee, and Close-Out Team is clearly documented, consistent with
the requirements of Rule 17Ad-22(d)(8).\20\
---------------------------------------------------------------------------

    \18\ 17 CFR 240.17Ad-22(d)(8).
    \19\ 15 U.S.C. 78q-1.
    \20\ 17 CFR 240.17Ad-22(d)(8).
---------------------------------------------------------------------------

    Rule 17Ad-22(d)(11) \21\ requires ICC to establish, implement,
maintain and enforce written policies and procedures reasonably
designed to make key aspects of the clearing agency's default
procedures publicly available and establish default procedures that
ensure that the clearing agency can take timely action to contain
losses and liquidity pressures and to continue meeting its obligations
in the event of a participant default. ICC's default management rules
and procedures contained in the ICC Rules, the Default Auction
Procedures--Initial Default Auctions, and the Secondary Auction
Procedures are publically available on ICC's website. Additionally, the
proposed Default Management Procedures clarify and augment ICC's
existing rules and procedures relating to default management and
enhance ICC's ability to withstand defaults and continue providing
clearing services, including by assigning responsibility for default
management actions and adding instructions on how to perform default
management actions, to ensure that ICC can take timely action to
contain losses and liquidity pressures and to continue meeting its
obligations in the event of a participant default, consistent with the
requirements of Rule 17Ad-22(d)(11).\22\
---------------------------------------------------------------------------

    \21\ 17 CFR 240.17Ad-22(d)(11).
    \22\ Id.
---------------------------------------------------------------------------

(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 rule change
to formalize the ICC Default Management Procedures and to amend the ICC
Risk Management Framework will apply uniformly across all market
participants. Therefore, ICC does not believe the proposed rule change
imposes 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, Security-Based Swap Submission, or Advance Notice 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

    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_ADDRESS>Please include
File Number SR-ICC-2019-008 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-2019-008. 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-2019-008 and should be
submitted on or before August 6, 2019.

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

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

Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-15023 Filed 7-15-19; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: February 27, 2008 (Volume 73, Number 39)]
[Notices]
[Page 10430-10431]
[DOCID:fr27fe08-38]

=======================================================================
-----------------------------------------------------------------------

ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-SFUND-2007-0840; FRL-8534-3]

Agency Information Collection Activities; Submission to OMB for
Review and Approval; Comment Request; Application for Reimbursement to
Local Governments for Emergency Response to Hazardous Substance
Releases Under CERCLA Section 123 (Renewal); EPA ICR Number 1425.07,
OMB Control Number 2050-0077

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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

SUMMARY: In compliance with the Paperwork Reduction Act (PRA) (44
U.S.C. 3501 et seq.), this document announces that an Information
Collection Request (ICR) has been forwarded to the Office of Management
and Budget (OMB) for review and approval. This is a request to renew an
existing approved collection. The ICR, which is abstracted below,
describes the nature of the information collection and its estimated
burden and cost.

DATES: Additional comments may be submitted on or before March 28,
2008.

ADDRESSES: Submit your comments, referencing Docket ID No. EPA-HQ-
SFUND-2007-0840, to (1) EPA online using http://www.regulations.gov
(our preferred method), by e-mail to<EMAIL_ADDRESS>or by mail to:
EPA Docket Center, Environmental Protection Agency, Water Docket, 1200
Pennsylvania Ave., NW., Washington, DC 20460, and (2) OMB by mail to:
Office of Information and Regulatory Affairs, Office of Management and
Budget (OMB), Attention: Desk Officer for EPA, 725 17th Street, NW.,
Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Lisa Boynton, Office of Solid Waste
and Emergency Response, Office of Emergency Management, (5104A)
Environmental Protection Agency, 1200 Pennsylvania Ave., NW.,
Washington, DC 20460; telephone number:202-564-2487; fax number: 202-
564-8729; e-mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: EPA has submitted the following ICR to OMB
for review and approval according to the procedures prescribed in 5 CFR
1320.12. On August 22, 2007 (72 FR 46993), EPA sought comments on this
ICR pursuant to 5 CFR 1320.8(d). EPA received no comments. Any
additional comments on this ICR should be submitted to EPA and OMB
within 30 days of this notice.
    EPA has established a public docket for this ICR under Docket ID
No. EPA-HQ-SFUND-2007-0840, which is available for online viewing at
http://www.regulations.gov, or in person viewing at the Water Docket in
the EPA Docket Center (EPA/DC), EPA West, Room 3334, 1301 Constitution
Ave., NW., Washington, DC. The EPA/DC Public Reading Room is open from
8:30 a.m. to 4:30 p.m., Monday through Friday, excluding legal
holidays. The telephone number for the Reading Room is<PHONE_NUMBER>,
and the telephone number for the Water Docket is<PHONE_NUMBER>.
    Use EPA's electronic docket and comment system at http://
www.regulations.gov, to submit or view public comments, access the
index listing of the contents of the docket, and to access those
documents in the docket that are available electronically. Once in the
system, select ``docket search,'' then key in the docket ID number
identified above. Please note that EPA's policy is that public
comments, whether submitted electronically or in paper, will be made
available for public viewing at http://www.regulations.gov as EPA
receives them and without change, unless the comment contains
copyrighted material, Confidential Business Information (CBI), or other
information whose public disclosure is restricted by statute. For
further information about the electronic docket, go to http://
www.regulations.gov.
    Title: Application for Reimbursement to Local Governments for
Emergency Response to Hazardous Substance Releases under CERCLA section
123 (Renewal).
    ICR Numbers: EPA ICR No. 1425.07, OMB Control No. 2050-0077.
    ICR Status: This ICR is scheduled to expire on February 29, 2008.
Under OMB regulations, the Agency may continue to conduct or sponsor
the collection of information while this submission is pending at OMB.
An Agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information, unless it displays a currently
valid OMB control number. The OMB control numbers for EPA's regulations
in title 40 of the CFR, after appearing in the Federal Register when
approved, are listed in 40 CFR part 9, are displayed either by
publication in the Federal Register or by other appropriate means, such
as on the related collection instrument or form, if applicable. The
display of OMB control numbers in certain EPA regulations is
consolidated in 40 CFR part 9.
    Abstract: The Agency requires applicants for reimbursement under
this program authorized under section 123 of CERCLA to submit an
application that demonstrates consistency with program eligibility
requirements. This is necessary to ensure proper use of the Superfund.
EPA reviews the information to ensure compliance with all statutory and
program requirements. The applicants are local governments who have
incurred expenses, above and beyond their budgets, for hazardous
substance response. Submission of this information is voluntary and to
the applicant's benefit.
    Burden Statement: The annual public reporting and recordkeeping
burden for this collection of information is estimated to average 9
hours per response. Burden means the total time, effort, or financial
resources expended

by persons to generate, maintain, retain, or disclose or provide
information to or for a Federal agency. This includes the time needed
to review instructions; develop, acquire, install, and utilize
technology and systems for the purposes of collecting, validating, and
verifying information, processing and maintaining information, and
disclosing and providing information; adjust the existing ways to
comply with any previously applicable instructions and requirements
which have subsequently changed; train personnel to be able to respond
to a collection of information; search data sources; complete and
review the collection of information; and transmit or otherwise
disclose the information.
    Respondents/Affected Entities: Local Governments.
    Estimated Number of Respondents: 45.
    Frequency of Response: On Occasion.
    Estimated Total Annual Hour Burden: 405.
    Estimated Total Annual Cost: $7,493, includes $0 annualized capital
or O&M costs.
    Changes in the Estimates: There is a decrease of 1,395 hours in the
total estimated burden currently identified in the OMB Inventory of
Approved ICR Burdens. This decrease is due to a reduction in the
anticipated number of respondents.

    Dated: February 21, 2008.
Sara Hisel-McCoy,
Director, Collection Strategies Division.
 [FR Doc. E8-3693 Filed 2-26-08; 8:45 am]

BILLING CODE 6560-50-P


[Federal Register Volume 76, Number 226 (Wednesday, November 23, 2011)]
[Notices]
[Pages 72445-72446]
[FR Doc No: 2011-30194]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF LABOR

Occupational Safety and Health Administration

[Docket No. OSHA-2011-0124]

Advisory Committee on Construction Safety and Health (ACCSH)

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

ACTION: Request for nominations of members to serve on ACCSH.

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

SUMMARY: OSHA invites interested persons to submit nominations for
membership on ACCSH.

DATES: Nominations for ACCSH must be submitted (postmarked, sent,
transmitted, or received) by January 23, 2012.

ADDRESSES: You may submit nominations and supporting materials by one
of the following methods:
    Electronically: You may submit nominations, including attachments,
electronically at http://www.regulations.gov, the Federal e-Rulemaking
Portal. Follow the online instructions for submitting nominations;
    Facsimile: If your nomination and supporting materials, including
attachments, do not exceed 10 pages, you may fax them to the OSHA
Docket Office at<PHONE_NUMBER>;
    Mail, express delivery, hand delivery, and messenger or courier
service: You may submit nominations and supporting materials to the
OSHA Docket Office, Docket No. OSHA-2011-0124, Room N-2625, U.S.
Department of Labor, 200 Constitution Avenue NW., Washington, DC 20210;
telephone<PHONE_NUMBER> (TTY number<PHONE_NUMBER>). Deliveries by
hand, express mail, messenger, and courier service are accepted during
the Department of Labor's and OSHA Docket Office's normal business
hours, 8:15 a.m.-4:45 p.m., e.t.
    Instructions: All nominations and supporting materials must include
the agency name and docket number for this Federal Register notice
(Docket No. OSHA-2011-0124). Because of security-related procedures,
submitting nominations by regular mail may result in a significant
delay in their receipt. Please contact the OSHA Docket Office for
information about security procedures for submitting nominations by
hand delivery, express delivery, and messenger or courier service. For
additional information on submitting nominations, see the ``Public
Participation'' heading in the SUPPLEMENTARY INFORMATION section below.
    OSHA will post submissions in response to this Federal Register
notice, including personal information provided, without change at
http://www.regulations.gov. Therefore, OSHA cautions interested parties
about submitting personal information such as Social Security numbers
and birthdates.
    Docket: To read or download submissions in response to this Federal
Register notice, go to Docket No. OSHA-2011-0124 at http://www.regulations.gov. All documents in the docket are available in the
http://www.regulations.gov index; however, some documents (e.g.,
copyrighted material) are not publicly available to read or download
through that Web page. All submissions, including copyrighted material,
are available for inspection and copying at the OSHA Docket Office.

For Additional Information

    For press inquiries: Mr. Frank Meilinger, OSHA, Office of
Communications, Room N-3647, U.S. Department of Labor, 200 Constitution
Avenue NW., Washington, DC 20210; telephone<PHONE_NUMBER>, email
address<EMAIL_ADDRESS>    For general information: Mr. Francis Dougherty, OSHA, Office of
Construction Services, Directorate of Construction, Room N-3468, U.S.
Department of Labor, 200 Constitution Avenue NW., Washington, DC 20210;
telephone<PHONE_NUMBER>; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The Assistant Secretary of Labor for
Occupational Safety and Health invites interested persons to submit
nominations for membership on ACCSH.
    Background. ACCSH is a continuing advisory committee established
under Section 107 of the Contract Work Hours and Safety Standards Act
(Construction Safety Act (CSA))(40 U.S.C. 3704(d)(4)), to advise the
Secretary of Labor (Secretary) in formulating construction safety and
health standards, as well as on policy matters arising under the CSA
and the Occupational Safety and Health Act of 1970 (OSH Act)(29 U.S.C.
651 et seq.). In particular, 29 CFR 1911.10(a) and 1912.3(a) provide
that the Assistant Secretary shall consult with ACCSH whenever the
Agency proposes any occupational safety or health standard that affects
the construction industry.
    ACCSH operates in accordance with the CSA, the OSH Act, the Federal
Advisory Committee Act (FACA) (5 U.S.C. App. 2), and regulations issued
pursuant to those statutes (29 CFR parts 1911 and 1912, 41 CFR part
102-3). ACCSH generally meets two to four times a year.
    ACCSH membership. ACCSH consists of 15 members appointed by the
Secretary.
    The categories of ACCSH membership, the total number of members in
each category, and the number of new members to be appointed in each
category, are:
     Five members who are qualified by experience and
affiliation to present the viewpoint of employers in the construction
industry: three new employer representatives will be appointed;
     Five members who are similarly qualified to present the
viewpoint of employees in the construction industry: three new employee
representatives will be appointed;
     Two representatives of State safety and health agencies:
one new representative will be appointed;
     Two public members, qualified by knowledge and experience
to make a useful contribution to the work of ACCSH, such as those who
have professional or technical experience and competence with
occupational safety and health in the construction industry: one new
public representative will be appointed; and
     One representative designated by the Department of Health
and Human Services and appointed by the Secretary: no new appointment
will be made in this category.
    ACCSH members normally serve staggered two-year terms, unless they
resign, cease to be qualified, become unable to serve, or are removed
by the Secretary (29 CFR 1912.3(e)). At the discretion of the
Secretary, a qualified ACCSH member whose term has expired may continue
to serve until a successor is appointed (29 CFR 1912.3(i)). The
Secretary may appoint ACCSH members to successive terms. No member of
ACCSH, other than members who represent employers or employees, shall
have an economic interest in any proposed rule that affects the
construction industry (29 CFR 1912.6).
    The Department of Labor is committed to equal opportunity in the
workplace and seeks broad-based and diverse ACCSH membership. Any
interested person or organizations may nominate one or more individuals
for membership on ACCSH. Interested persons also are invited and
encouraged to submit statements in support of particular nominees.
    Submission requirements. Nominations must include the following
information:

    (1) Nominee's contact information and current employment or
position;
    (2) Nominee's resume or curriculum vitae, including prior
membership on ACCSH and other relevant organizations and associations;
    (3) Categories of membership (employer, employee, public, State
safety and health agency) that the nominee is qualified to represent;
    (4) A summary of the background, experience, and qualifications
that addresses the nominee's suitability for the nominated membership
category;
    (5) Articles or other documents the nominee has authored that
indicate the nominee's knowledge, experience, and expertise in
occupational safety and health, particularly as it pertains to the
construction industry; and
    (6) A statement that the nominee is aware of the nomination, is
willing to regularly attend and participate in ACCSH meetings, and has
no conflicts of interest that would preclude membership on ACCSH.
    Member selection. The Secretary will select ACCSH members on the
basis of their experience, knowledge, and competence in the field of
occupational safety and health, particularly in the construction
industry. Information, received through this nomination process, and
other relevant sources of information, will assist the Secretary in
appointing members to ACCSH. In selecting ACCSH members, the Secretary
will consider individuals nominated in response to this Federal
Register notice, as well as other qualified individuals. OSHA will
publish the list of new ACCSH members in the Federal Register.

Public Participation

    Instructions for submitting nominations. All nominations,
supporting documents, attachments, and other materials must identify
the Agency name and the docket number for this notice (Docket No. OSHA-
2011-0124). You may submit materials: (1) Electronically, (2) by FAX,
or (3) by hard copy. You may supplement electronic submissions by
attaching electronic files. Alternatively, if you wish to supplement
electronic submissions with hard copy documents, you must submit them
to the OSHA Docket Office and clearly identify your electronic
submission by Agency name and docket number (Docket No. OSHA-2011-0124)
so that the Docket Office can attach the materials to the electronic
submission.
    Because of security-related procedures, materials submitted by mail
may experience significant delays. For information about security
procedures concerning the delivery of materials by hand, express
delivery, and messenger or courier service, please contact the OSHA
Docket Office.
    OSHA will post all submissions, including personal information
provided, in the docket without change; therefore, OSHA cautions
interested parties about submitting personal information such as Social
Security numbers and birthdates. Guidance on submitting nominations and
supporting materials is available on-line at http://www.regulations.gov
and from the OSHA Docket Office.
    Access to the docket. All submissions in response to this Federal
Register notice are available in the http://www.regulations.gov index;
however, some documents (e.g., copyrighted material) are not publicly
available to read or download from that Web page. All submissions,
including materials not available on-line, are available for inspection
and copying at the OSHA Docket Office. For information about accessing
materials in Docket No. OSHA-2011-0124, including materials not
available on-line, contact the OSHA Docket Office.
    Access to this Federal Register notice. Electronic copies of this
Federal Register document are available at http://www.regulations.gov.
This document, as well as news releases and other relevant information,
also are available at OSHA's Web page at http://www.osha.gov.

Authority and Signature

    David Michaels, Ph.D., MPH, Assistant Secretary of Labor for
Occupational Safety and Health, directed the preparation of this notice
under the authority granted by Section 7 of the Occupational Safety and
Health Act of 1970 (29 U.S.C. 656), Section 107 of the Contract Work
Hours and Safety Standards Act (40 U.S.C. 3704), the Federal Advisory
Committee Act (5 U.S.C. App. 2), 29 CFR part 1912, 41 CFR part 102-3,
and Secretary of Labor's Order No. 4-2010 (75 FR 55335).

    Signed at Washington, DC, this November 17, 2011.
David Michaels,
Assistant Secretary of Labor for Occupational Safety and Health.
[FR Doc. 2011-30194 Filed 11-22-11; 8:45 am]
BILLING CODE 4510-26-P