                             SUPPORTING STATEMENT                                         Title:  General Administrative Requirements for Assistance Programs (OMB Control Number 2030-0020; EPA ICR No. 0938.23).

1.  Necessity of Collection

This is a request for a renewal of an existing Information Collection Request (ICR). This ICR authorizes the collection of information under EPA's General Regulation for Assistance Programs that establishes the minimum management requirements for all recipients of EPA grants or cooperative agreements (assistance agreements).  For awards made prior to December 26, 2014, 40 CFR Part 30, "Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations," establishes the management requirements for institutions of higher education, hospitals, and other non-profit organizations, as well as procurement requirements for non-governmental recipients. For awards made prior to December 26, 2014, 40 CFR Part 31, "Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments," includes the management requirements for States, local governments, and Indian Tribal governments. These regulations include only those provisions mandated by statute, required by Office of Management and Budget (OMB) Circulars, or added by EPA to ensure sound and effective financial assistance management. For awards made on or after December 26, 2014, 2 CFR 200 and EPA's implementation of 2 CFR 200 at 2 CFR 1500 "Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards" establishes the management requirements for all entity types. 40 CFR Part 35 outlines policies and procedures for assistance agreements to State, interstate, and local agencies and Indian Tribes and Intertribal Consortia for pollution abatement and control programs (listed in Subparts A and B). For all awards, 40 CFR Part 33 "Participation by Disadvantaged Business Enterprises in Procurement under Environmental Protection Agency (EPA) Financial Assistance Agreements" establishes DBE utilization requirements for all entity types. These regulations include only those provisions mandated by statute or added by EPA to ensure sound and effective financial assistance management with respect to DBE utilization.

This ICR combines all of these requirements under OMB Control Number 2030-0020.          EPA award officials will use the information required by these regulations to make assistance agreement awards, to make assistance payments, and to verify that the recipient is using Federal funds appropriately to comply with Federal requirements.

This ICR is necessary because of the information collection and reporting requirements included in EPA regulations at 40 CFR Parts 30, 31, 33, 35, and 2 CFR Parts 200 and 1500. For some existing grants awarded prior to December 26, 2014, 40 CFR Parts 30 and 31 implement OMB Circulars A-21, A-87, A-102, A-110, A-122, and A-133. For assistance agreements awarded on or after December 26, 2014, 2 CFR Part 1500 implements OMB regulations in 2 CFR Part 200. For all awards, 40 CFR Part 33 establishes DBE utilization requirements for all entity types. These regulations include only those provisions mandated by statute or added by EPA to ensure sound and effective financial assistance management with respect to DBE utilization. These regulations set forth pre-award, post-award, and after-the-grant requirements. This information is needed by EPA project officers, grant specialists, DBE coordinators, and finance officials to manage/oversee recipient programmatic and financial performance under all EPA assistance agreements.

2.   How, By Whom, and For What Information is Collected

The pre-award information is used by EPA to qualify and select assistance agreement applicants for funding. The post-award information is used to ensure that recipients are complying with statutory and regulatory requirements and to monitor recipient performance. The after-the-grant information is used to meet reporting and recordkeeping requirements and to close out awards. The information is necessary to ensure minimum fiscal control and accountability for EPA funds and to deter waste, fraud, and abuse.

The primary recipients of EPA assistance agreements are State and local governments, Indian Tribes, educational institutions, and not-for-profit institutions. The information requested is used to make awards, pay recipients, and collect information on how Federal funds are being spent.

Standard Industrial Classification Codes for respondents include 8211, 8221, 8399, and 919. The corresponding North American Industry Classification System (NAICS) Codes for respondents include, but are not limited to, 61111, 61131, 813212, 813219, 813311, 813312, 813319 and 92119.

3. Electronic Submission

Grants.gov, originally called the E Grants Initiative, was a mandate of the President's Fiscal Year 2002 Management Agenda, which directed agencies to "...allow applicants for Federal Grants to apply for and ultimately manage grant funds online through a common Web site, simplifying grants management and eliminating redundancies."

Grants.gov implements the requirement in the Federal Financial Assistance Management Improvement Act, Public Law 106 107, to develop a simple, unified source to electronically find, apply, and manage grant opportunities. Grants.gov is the central Federal electronic portal created in response to the Act.

Grants.gov Workspace allows an applicant to create an application package from an opportunity posted on Grants.gov. The applicant can complete the application within Workspace or download the application forms and complete the package offline based on agency instructions. The application package generally includes a standard set of OMB approved forms. After an applicant completes the required application package, they can be submitted electronically to Grants.gov, which transmits the application to the funding agency.

The Office of Grants and Debarment has constructed an electronic repository for Pre-Award activities within the Agency's Next Generation Grants System (NGGS) which receives, as the funding agency, the applications data and stores them for program retrieval and review. As applications are selected for funding, the data will be migrated and processed through other downstream activities within NGGS for eventual award.

EPA requires the use of Grants.gov as the EPA standard for the submission of initial applications for competitive and non-competitive assistance agreement awards.

4. Non-duplication, Consultations, and Other Collection Criteria

There is no other source for this information.

5. Impact on Small Businesses

EPA believes the reporting requirements discussed in this ICR do not place an unreasonable burden on small entities; the estimated burdens cannot be further reduced for small entities. EPA requires the information requested to make award decisions, properly manage assistance agreements, maintain records, and monitor performance. This requested information may, in some cases, be dependent on the type of entity (e.g., state agency, non-profit organization, individual, etc.) but is not dependent on an entity's relative size. EPA takes active steps to minimize the burden on small entities in the form of guidance materials and electronic forms. In most cases, the requirements do not impose a large burden on small entities because the information required is simple and straightforward.

6. Consequences of Non-Collection or Less Frequent Collection

Without the data compiled by using the forms, it would be impossible for EPA to manage any of its Federal assistance programs.  Rational, fair grant awards would be extremely difficult to make, and financial and technical managerial information would not be available for assessing the status of grant efforts. Decreasing the frequency of data collection would have similar negative impacts. The effect of less frequent collection is that EPA would be unable to comply with OMB or statutory requirements for assistance agreements.

7. Special Reporting Requirements

The information collection is consistent with the guidelines set forth in 5 CFR 1320.6 of the Paperwork Reduction Act Guidelines. There are no known special circumstances that would require reporting on an alternative timeline or methodology.

In 1996, the regulations of Part 30 were revised to reflect "plain English." Since then, EPA has continued to use plain English. As a result, EPA's assistance agreement regulations and other documents are easier to understand by all organizations, large and small. The information collection is consistent with 5 CFR 1320.5(d)(2).

8. 60-Day FR Notice and Efforts to Consult with Grantees

*THIS CONTENT WILL BE UPDATED AFTER THE PUBLICATION OF THE 1ST FEDERAL REGISTER NOTICE.*

Consultations: We have received continuous feedback from applicants and recipients about this information collection.  Administering EPA assistance agreements requires constant recipient contact, such as written correspondence, telephone calls, and in-person meetings.  OGD is both sensitive and responsive to recipients regarding burden, duplication, availability of data, clarity of instructions, and other concerns that are raised. OGD improves EPA assistance agreement forms and collection methods in an effort to address recipient concerns and streamline their activities.  Frequent applicant and recipient feedback and informal consultations are a significant component of the evaluation of EPA assistance agreement forms, and these contacts have been particularly useful in developing burden estimates.

The purpose of this ICR is to request clearance for EPA assistance agreement forms that are used by respondents on a regular basis and made publicly available in several different locations (e.g., various websites) in both electronic and hardcopy format.  To evaluate the accuracy of its burden estimates, EPA consulted with the following assistance agreement recipient organizations:   *THE LIST OF RECIPIENT ORGANIZATIONS WHO WERE CONTACTED WILL BE ADDED AFTER CONSULTATIONS ARE CONDUCTED IN THE SUMMER/FALL OF 2023.*

9. Payment or Gift to Respondents

Successful applicants receive an award of federal financial assistance.

10. Assurance of Confidentiality

All information submitted to the agency in response to the ICR will be managed in accordance with applicable laws and EPA's regulations governing treatment of confidential business information at 40 CFR Part 2, Subpart B. Any information determined to constitute a trade secret will be protected under 18 U.S.C. § 1905.

11. Questions of Sensitive Nature

Sensitive questions are not associated with the information collection activities performed under Public Law 107-118.

12. Hour Burden

*EPA IS COMPILING RECENT STATISTICS TO PREPARE AN UPDATED ESTIMATE OF RESPONDENTS BY APPLICATION/AWARD TYPE AND BURDEN HOURS FOR EACH REQUIREMENT.*

13. Estimate for total annual cost burden (not including hour burden)

* EPA IS COMPILING RECENT STATISTICS TO PREPARE AN UPDATED ESTIMATE OF RESPONDENTS BY APPLICATION/AWARD TYPE AND BURDEN HOURS FOR EACH REQUIREMENT. EPA WILL UPDATE THE TOTAL ANNUAL COST BURDEN AFTER THE NEW ESTIMATE OF RESPONDENTS BY APPLICATION/AWARD TYPE AND BURDEN HOURS FOR EACH REQUIREMENT IS DETERMINED.*

14. Annualized Costs to the Federal Government

* EPA IS COMPILING RECENT STATISTICS TO PREPARE AN UPDATED ESTIMATE OF RESPONDENTS BY APPLICATION/AWARD TYPE AND BURDEN HOURS FOR EACH REQUIREMENT.  EPA WILL UPDATE THE ANNUALIZED COSTS TO THE FEDERAL GOVERNMENT AFTER THE NEW ESTIMATE OF RESPONDENTS BY APPLICATION/AWARD TYPE AND BURDEN HOURS FOR EACH REQUIREMENT IS DETERMINED.*

15. Reasons for Program Changes or Adjustments on Burden Worksheet

 * EPA IS IN THE PROCESS OF UPDATING THE REASONS FOR CHANGE IN BURDEN AND BURDEN STATEMENT BASED ON IDENTIFIED PROGRAM CHANGES AND BURDEN ADJUSTMENTS.*     16. Published Results

Results from this ICR are not published formally. They are used to calculate agency-level accomplishments and site-specific impacts on publicly available EPA websites.

17. Approval for not displaying OMB Expiration Date

N/A

18. Exceptions to the "Certification for Paperwork Reduction Act Submissions"

N/A

                                  APPENDIX A

              Annual Estimate of EPA Assistance Agreement Awards

* EPA IS COMPILING RECENT STATISTICS TO PREPARE AN UPDATED ESTIMATE OF RESPONDENTS BY APPLICATION/AWARD TYPE.*

                              Type of Information                              Number of Respondents Competed Grants

                                        Not Competed Grant Awards                                         Fellowship Applications                                                                       TOTAL

                                  APPENDIX B

                         Forms Covered Under this ICR                                         * EPA IS IN THE PROCESS OF REVIEWING THE LIST OF FORMS AND REQUIREMENTS BELOW TO IDENTIFY POTENTIAL UPDATES BASED ON PROGRAM CHANGES.*


[Federal Register Volume 85, Number 173 (Friday, September 4, 2020)]
[Notices]
[Page 55351]
[FR Doc No: 2020-19641]

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DEPARTMENT OF TRANSPORTATION

Pipeline and Hazardous Materials Safety Administration

Hazardous Materials: Notice of Applications for Modifications to
Special Permits

AGENCY: Pipeline and Hazardous Materials Safety Administration (PHMSA),
Transportation (DOT).

ACTION: List of applications for modification of special permits.

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

SUMMARY: In accordance with the procedures governing the application
for, and the processing of, special permits from the Department of
Transportation's Hazardous Material Regulations, notice is hereby given
that the Office of Hazardous Materials Safety has received the
application described herein. Each mode of transportation for which a
particular special permit is requested is indicated by a number in the
``Nature of Application'' portion of the table below as follows: 1--
Motor vehicle, 2--Rail freight, 3--Cargo vessel, 4--Cargo aircraft
only, 5--Passenger-carrying aircraft.

DATES: Comments must be received on or before September 21, 2020.

ADDRESSES: Record Center, Pipeline and Hazardous Materials Safety
Administration U.S. Department of Transportation, Washington, DC 20590.
    Comments should refer to the application number and be submitted in
triplicate. If confirmation of receipt of comments is desired, include
a self-addressed stamped postcard showing the special permit number.

FOR FURTHER INFORMATION CONTACT: Donald Burger, Chief, Office of
Hazardous Materials Approvals and Permits Division, Pipeline and
Hazardous Materials Safety Administration, U.S. Department of
Transportation, East Building, PHH-30, 1200 New Jersey Avenue
Southeast, Washington, DC 20590-0001,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Copies of the applications are available for
inspection in the Records Center, East Building, PHH-30, 1200 New
Jersey Avenue Southeast, Washington DC.
    This notice of receipt of applications for special permit is
published in accordance with part 107 of the Federal hazardous
materials transportation law (49 U.S.C. 5117(b); 49 CFR 1.53(b)).

    Issued in Washington, DC, on September 1, 2020.
Donald P. Burger,
Chief, General Approvals and Permits Branch.

                          Special Permits Data
------------------------------------------------------------------------
                                                        Nature of the
 Application No.     Applicant      Regulation(s)      special permits
                                       affected            thereof
------------------------------------------------------------------------
9998-M..........  Accumulators,    173.302(a).....  To modify the
                   Inc..                             special permit to
                                                     add three
                                                     additional bladder
                                                     designs. (modes 1,
                                                     2, 3, 4).
14636-M.........  Department Of    172.301(c),      To modify the
                   Defense          180.209.         special permit to
                   (Military                         streamline the
                   Surface                           identification of
                   Deployment &                      tubes being
                   Distribution                      requalified and to
                   Command).                         authorize
                                                     additional OCONUS
                                                     locations. (modes
                                                     1, 3, 4).
15691-M.........  Department Of    172.301(c),      To streamline the
                   Defense          180.209.         listing of
                   (Military                         authorized
                   Surface                           cylinders, update
                   Deployment &                      the locations where
                   Distribution                      the permitted
                   Command).                         cylinders are
                                                     authorized and
                                                     remove the one time
                                                     extension and
                                                     restate the five
                                                     year
                                                     requalification
                                                     requirements.
                                                     (modes 1, 2, 3, 4).
16154-M.........  Patriot          172.101(i),      To modify the
                   Fireworks USA,   173.62, 173.62.  special permit to
                   LLC.                              authorize cargo
                                                     webbing (netting)
                                                     or metal fencing or
                                                     grating as
                                                     authorized methods
                                                     to secure fireworks
                                                     against significant
                                                     lateral movement
                                                     and preventing the
                                                     release of any
                                                     fireworks into the
                                                     interior of the
                                                     freight container.
                                                     (mode 1).
21018-M.........  Packaging And    172.200,         To modify the
                   Crating          172.300,         special permit to
                   Technologies,    172.400,         authorize batteries
                   LLC.             172.600,         up to 1200Wh to be
                                    172.700(a),      transported in
                                    173.185(b),      Thermo Shield
                                    173.185(c),      pleatwrap. (modes
                                    173.185(f).      1, 2, 3).
------------------------------------------------------------------------

[FR Doc. 2020-19641 Filed 9-3-20; 8:45 am]
BILLING CODE 4909-60-P


[Federal Register Volume 81, Number 172 (Tuesday, September 6, 2016)]
[Notices]
[Pages 61283-61287]
[FR Doc No: 2016-21268]

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SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 33-10200; 34-78726/August 30, 2016]

Order Making Fiscal Year 2017 Annual Adjustments to Registration
Fee Rates

I. Background

    The Commission collects fees under various provisions of the
securities laws. Section 6(b) of the Securities Act of 1933
(``Securities Act'') requires the Commission to collect fees from
issuers on the registration of securities.\1\ Section 13(e) of the
Securities Exchange Act of 1934 (``Exchange Act'') requires the
Commission to collect fees on specified repurchases of securities.\2\
Section 14(g) of the Exchange Act requires the Commission to collect
fees on specified

proxy solicitations and statements in corporate control
transactions.\3\ These provisions require the Commission to make annual
adjustments to the applicable fee rates.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 77f(b).
    \2\ 15 U.S.C. 78m(e).
    \3\ 15 U.S.C. 78n(g).
---------------------------------------------------------------------------

II. Fiscal Year 2017 Annual Adjustment to Fee Rates

    Section 6(b)(2) of the Securities Act requires the Commission to
make an annual adjustment to the fee rate applicable under Section
6(b).\4\ The annual adjustment to the fee rate under Section 6(b) of
the Securities Act also sets the annual adjustment to the fee rates
under Sections 13(e) and 14(g) of the Exchange Act.\5\
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 77f(b)(2). The annual adjustments are designed to
adjust the fee rate in a given fiscal year so that, when applied to
the aggregate maximum offering price at which securities are
proposed to be offered for the fiscal year, it is reasonably likely
to produce total fee collections under Section 6(b) equal to the
``target fee collection amount'' specified in Section 6(b)(6)(A) for
that fiscal year.
    \5\ 15 U.S.C. 78m(e)(4) and 15 U.S.C. 78n(g)(4).
---------------------------------------------------------------------------

    Section 6(b)(2) sets forth the method for determining the annual
adjustment to the fee rate under Section 6(b) for fiscal year 2017.
Specifically, the Commission must adjust the fee rate under Section
6(b) to a ``rate that, when applied to the baseline estimate of the
aggregate maximum offering prices for [fiscal year 2017], is reasonably
likely to produce aggregate fee collections under [Section 6(b)] that
are equal to the target fee collection amount for [fiscal year 2017].''
That is, the adjusted rate is determined by dividing the ``target fee
collection amount'' for fiscal year 2017 by the ``baseline estimate of
the aggregate maximum offering prices'' for fiscal year 2017.
    Section 6(b)(6)(A) specifies that the ``target fee collection
amount'' for fiscal year 2017 is $585,000,000. Section 6(b)(6)(B)
defines the ``baseline estimate of the aggregate maximum offering
prices'' for fiscal year 2017 as ``the baseline estimate of the
aggregate maximum offering price at which securities are proposed to be
offered pursuant to registration statements filed with the Commission
during [fiscal year 2017] as determined by the Commission, after
consultation with the Congressional Budget Office and the Office of
Management and Budget. . . .''
    To make the baseline estimate of the aggregate maximum offering
price for fiscal year 2017, the Commission is using a methodology that
has been used in prior fiscal years and that was developed in
consultation with the Congressional Budget Office (``CBO'') and Office
of Management and Budget (``OMB''). \6\ Using this methodology, the
Commission determines the ``baseline estimate of the aggregate maximum
offering price'' for fiscal year 2017 to be $5,047,682,013,502. Based
on this estimate, the Commission calculates the fee rate for fiscal
2017 to be $115.90 per million. This adjusted fee rate applies to
Section 6(b) of the Securities Act, as well as to Sections 13(e) and
14(g) of the Exchange Act.
---------------------------------------------------------------------------

    \6\ Appendix A explains how we determined the ``baseline
estimate of the aggregate maximum offering price'' for fiscal year
2017 using our methodology, and then shows the arithmetical process
of calculating the fiscal year 2017 annual adjustment based on that
estimate. The appendix includes the data used by the Commission in
making its ``baseline estimate of the aggregate maximum offering
price'' for fiscal year 2017.
---------------------------------------------------------------------------

III. Effective Dates of the Annual Adjustments

    The fiscal year 2017 annual adjustments to the fee rates applicable
under Section 6(b) of the Securities Act and Sections 13(e) and 14(g)
of the Exchange Act will be effective on October 1, 2016.\7\
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 77f(b)(4), 15 U.S.C. 78m(e)(6) and 15 U.S.C.
78n(g)(6).
---------------------------------------------------------------------------

IV. Conclusion

    Accordingly, pursuant to Section 6(b) of the Securities Act and
Sections 13(e) and 14(g) of the Exchange Act,\8\
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 77f(b), 78m(e) and 78n(g).
---------------------------------------------------------------------------

    IT IS HEREBY ORDERED that the fee rates applicable under Section
6(b) of the Securities Act and Sections 13(e) and 14(g) of the Exchange
Act shall be $115.90 per million effective on October 1, 2016.

    By the Commission.
Brent J. Fields,
Secretary.

Appendix A

    Congress has established a target amount of monies to be
collected from fees charged to issuers based on the value of their
registrations. This appendix provides the formula for determining
such fees, which the Commission adjusts annually. Congress has
mandated that the Commission determine these fees based on the
``aggregate maximum offering prices,'' which measures the aggregate
dollar amount of securities registered with the Commission over the
course of the year. In order to maximize the likelihood that the
amount of monies targeted by Congress will be collected, the fee
rate must be set to reflect projected aggregate maximum offering
prices. As a percentage, the fee rate equals the ratio of the target
amounts of monies to the projected aggregate maximum offering
prices.
    For 2017, the Commission has estimated the aggregate maximum
offering prices by projecting forward the trend established in the
previous decade. More specifically, an ARIMA model was used to
forecast the value of the aggregate maximum offering prices for
months subsequent to July 2016, the last month for which the
Commission has data on the aggregate maximum offering prices.
    The following sections describe this process in detail.

A. Baseline Estimate of the Aggregate Maximum Offering Prices for
Fiscal Year 2017

    First, calculate the aggregate maximum offering prices (AMOP)
for each month in the sample (July 2006-July 2016). Next, calculate
the percentage change in the AMOP from month to month.
    Model the monthly percentage change in AMOP as a first order
moving average process. The moving average approach allows one to
model the effect that an exceptionally high (or low) observation of
AMOP tends to be followed by a more ``typical'' value of AMOP.
    Use the estimated moving average model to forecast the monthly
percent change in AMOP. These percent changes can then be applied to
obtain forecasts of the total dollar value of registrations. The
following is a more formal (mathematical) description of the
procedure:
    1. Begin with the monthly data for AMOP. The sample spans ten
years, from July 2006 to July 2016.
    2. Divide each month's AMOP (column C) by the number of trading
days in that month (column B) to obtain the average daily AMOP
(AAMOP, column D).
    3. For each month t, the natural logarithm of AAMOP is reported
in column E.
    4. Calculate the change in log(AAMOP) from the previous month as
[Delta]t = log (AAMOPt)-
log(AAMOPt-1). This approximates the percentage change.
    5. Estimate the first order moving average model
[Delta]t = [alpha] + [beta]et-1 +
et, where et denotes the forecast error for
month t. The forecast error is simply the difference between the
one-month ahead forecast and the actual realization of
[Delta]t. The forecast error is expressed as
et = [Delta]t-[alpha]-[beta]et-1.
The model can be estimated using standard commercially available
software. Using least squares, the estimated parameter values are
[alpha] = 0.002807020 and [beta] = -0.82994.
    6. For the month of August 2016 forecast
[Delta]t = 8/16 = [alpha] + [beta]et = 7/16.
For all subsequent months, forecast [Delta]t = [alpha].
    7. Calculate forecasts of log(AAMOP). For example, the forecast
of log(AAMOP) for October 2016 is given by FLAAMOP
t = 10/16 = log(AAMOP t = 7/16) + [Delta]
t = 8/16 +[Delta] t = 9/16 + [Delta]
t = 10/16.
    8. Under the assumption that et is normally
distributed, the n-step ahead forecast of AAMOP is given by
exp(FLAAMOPt + [sigma]n\2\/2), where
[sigma]n denotes the standard error of the n-step ahead
forecast.
    9. For October 2016, this gives a forecast AAMOP of $19.614
billion (Column I), and a forecast AMOP of $411.9 billion (Column
J).
    10. Iterate this process through September 2017 to obtain a
baseline estimate of the aggregate maximum offering prices for
fiscal year 2017 of $5,047,682,013,502.

B. Using the Forecasts From A to Calculate the New Fee Rate

    1. Using the data from Table A, estimate the aggregate maximum
offering prices between 10/01/16 and 9/30/17 to be
$5,047,682,013,502.
    2. The rate necessary to collect the target $585,000,000 in fee
revenues set by Congress is then calculated as: $585,000,000 /
$5,047,682,013,502 = 0.000115895.
    3. Round the result to the seventh decimal point, yielding a
rate of 0.0001159 (or $115.90 per million).

  Table A--Estimation of Baseline of Aggregate Maximum Offering Prices
------------------------------------------------------------------------
                    Fee rate calculation
------------------------------------------------------------------------
a. Baseline estimate of the aggregate maximum offering         5,047,682
 prices, 10/1/16 to 9/30/17 ($Millions).....................
b. Implied fee rate ($585 Million/a)........................     $115.90
------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                 Average
                                                                  daily                                                                        Forecast
                                         # of      Aggregate    aggregate                                                                     aggregate
                                       trading      maximum        max.                  Log (change    Forecast     Standard     Forecast     maximum
               Month                   days in      offering     offering    log(AAMOP)   in AAMOP)    log(AAMOP)     error      AAMOP, in     offering
                                        month      prices, in     prices                                                         $millions    prices, in
                                                   $millions    (AAMOP) in                                                                    $millions
                                                                $millions
(A)                                          (B)          (C)          (D)          (E)          (F)          (G)          (H)          (I)          (J)
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                          Data
--------------------------------------------------------------------------------------------------------------------------------------------------------
Jul-06.............................           20      232,654       11,633       23.177  ...........  ...........  ...........  ...........  ...........
Aug-06.............................           23      310,050       13,480       23.325        0.147  ...........  ...........  ...........  ...........
Sep-06.............................           20      236,782       11,839       23.195       -0.130  ...........  ...........  ...........  ...........
Oct-06.............................           22      213,342        9,697       22.995       -0.200  ...........  ...........  ...........  ...........
Nov-06.............................           21      292,456       13,926       23.357        0.362  ...........  ...........  ...........  ...........
Dec-06.............................           20      349,512       17,476       23.584        0.227  ...........  ...........  ...........  ...........
Jan-07.............................           20      372,740       18,637       23.648        0.064  ...........  ...........  ...........  ...........
Feb-07.............................           19      278,753       14,671       23.409       -0.239  ...........  ...........  ...........  ...........
Mar-07.............................           22      862,786       39,218       24.392        0.983  ...........  ...........  ...........  ...........
Apr-07.............................           20      562,103       28,105       24.059       -0.333  ...........  ...........  ...........  ...........
May-07.............................           22      470,843       21,402       23.787       -0.272  ...........  ...........  ...........  ...........
Jun-07.............................           21      586,822       27,944       24.053        0.267  ...........  ...........  ...........  ...........
Jul-07.............................           21      326,612       15,553       23.468       -0.586  ...........  ...........  ...........  ...........
Aug-07.............................           23      369,172       16,051       23.499        0.032  ...........  ...........  ...........  ...........
Sep-07.............................           19      241,059       12,687       23.264       -0.235  ...........  ...........  ...........  ...........
Oct-07.............................           23      239,652       10,420       23.067       -0.197  ...........  ...........  ...........  ...........
Nov-07.............................           21      458,654       21,841       23.807        0.740  ...........  ...........  ...........  ...........
Dec-07.............................           20      410,200       20,510       23.744       -0.063  ...........  ...........  ...........  ...........
Jan-08.............................           21      354,433       16,878       23.549       -0.195  ...........  ...........  ...........  ...........
Feb-08.............................           20      263,410       13,171       23.301       -0.248  ...........  ...........  ...........  ...........
Mar-08.............................           20      596,923       29,846       24.119        0.818  ...........  ...........  ...........  ...........
Apr-08.............................           22      292,534       13,297       23.311       -0.809  ...........  ...........  ...........  ...........
May-08.............................           21      456,077       21,718       23.801        0.491  ...........  ...........  ...........  ...........
Jun-08.............................           21      461,087       21,957       23.812        0.011  ...........  ...........  ...........  ...........
Jul-08.............................           22      232,896       10,586       23.083       -0.730  ...........  ...........  ...........  ...........
Aug-08.............................           21      395,440       18,830       23.659        0.576  ...........  ...........  ...........  ...........
Sep-08.............................           21      177,636        8,459       22.858       -0.800  ...........  ...........  ...........  ...........
Oct-08.............................           23      360,494       15,674       23.475        0.617  ...........  ...........  ...........  ...........
Nov-08.............................           19      288,911       15,206       23.445       -0.030  ...........  ...........  ...........  ...........
Dec-08.............................           22      319,584       14,527       23.399       -0.046  ...........  ...........  ...........  ...........
Jan-09.............................           20      375,065       18,753       23.655        0.255  ...........  ...........  ...........  ...........
Feb-09.............................           19      249,666       13,140       23.299       -0.356  ...........  ...........  ...........  ...........
Mar-09.............................           22      739,931       33,633       24.239        0.940  ...........  ...........  ...........  ...........
Apr-09.............................           21      235,914       11,234       23.142       -1.097  ...........  ...........  ...........  ...........
May-09.............................           20      329,522       16,476       23.525        0.383  ...........  ...........  ...........  ...........
Jun-09.............................           22      357,524       16,251       23.511       -0.014  ...........  ...........  ...........  ...........
Jul-09.............................           22      185,187        8,418       22.854       -0.658  ...........  ...........  ...........  ...........
Aug-09.............................           21      192,726        9,177       22.940        0.086  ...........  ...........  ...........  ...........
Sep-09.............................           21      189,224        9,011       22.922       -0.018  ...........  ...........  ...........  ...........
Oct-09.............................           22      215,720        9,805       23.006        0.085  ...........  ...........  ...........  ...........
Nov-09.............................           20      248,353       12,418       23.242        0.236  ...........  ...........  ...........  ...........
Dec-09.............................           22      340,464       15,476       23.463        0.220  ...........  ...........  ...........  ...........
Jan-10.............................           19      173,235        9,118       22.933       -0.529  ...........  ...........  ...........  ...........
Feb-10.............................           19      209,963       11,051       23.126        0.192  ...........  ...........  ...........  ...........
Mar-10.............................           23      432,934       18,823       23.658        0.533  ...........  ...........  ...........  ...........
Apr-10.............................           21      280,188       13,342       23.314        0.344  ...........  ...........  ...........  ...........
May-10.............................           20      278,611       13,931       23.357        0.043  ...........  ...........  ...........  ...........
Jun-10.............................           22      364,251       16,557       23.530        0.173  ...........  ...........  ...........  ...........
Jul-10.............................           21      171,191        8,152       22.822       -0.709  ...........  ...........  ...........  ...........
Aug-10.............................           22      240,793       10,945       23.116        0.295  ...........  ...........  ...........  ...........
Sep-10.............................           21      260,783       12,418       23.242        0.126  ...........  ...........  ...........  ...........
Oct-10.............................           21      214,988       10,238       23.049       -0.193  ...........  ...........  ...........  ...........
Nov-10.............................           21      340,112       16,196       23.508        0.459  ...........  ...........  ...........  ...........
Dec-10.............................           22      297,992       13,545       23.329       -0.179  ...........  ...........  ...........  ...........
Jan-11.............................           20      233,668       11,683       23.181       -0.148  ...........  ...........  ...........  ...........
Feb-11.............................           19      252,785       13,304       23.311        0.130  ...........  ...........  ...........  ...........
Mar-11.............................           23      595,198       25,878       23.977        0.665  ...........  ...........  ...........  ...........
Apr-11.............................           20      236,355       11,818       23.193       -0.784  ...........  ...........  ...........  ...........
May-11.............................           21      319,053       15,193       23.444        0.251  ...........  ...........  ...........  ...........

Jun-11.............................           22      359,727       16,351       23.518        0.073  ...........  ...........  ...........  ...........
Jul-11.............................           20      215,391       10,770       23.100       -0.418  ...........  ...........  ...........  ...........
Aug-11.............................           23      179,870        7,820       22.780       -0.320  ...........  ...........  ...........  ...........
Sep-11.............................           21      168,005        8,000       22.803        0.023  ...........  ...........  ...........  ...........
Oct-11.............................           21      181,452        8,641       22.880        0.077  ...........  ...........  ...........  ...........
Nov-11.............................           21      256,418       12,210       23.226        0.346  ...........  ...........  ...........  ...........
Dec-11.............................           21      237,652       11,317       23.150       -0.076  ...........  ...........  ...........  ...........
Jan-12.............................           20      276,965       13,848       23.351        0.202  ...........  ...........  ...........  ...........
Feb-12.............................           20      228,419       11,421       23.159       -0.193  ...........  ...........  ...........  ...........
Mar-12.............................           22      430,806       19,582       23.698        0.539  ...........  ...........  ...........  ...........
Apr-12.............................           20      173,626        8,681       22.884       -0.813  ...........  ...........  ...........  ...........
May-12.............................           22      414,122       18,824       23.658        0.774  ...........  ...........  ...........  ...........
Jun-12.............................           21      272,218       12,963       23.285       -0.373  ...........  ...........  ...........  ...........
Jul-12.............................           21      170,462        8,117       22.817       -0.468  ...........  ...........  ...........  ...........
Aug-12.............................           23      295,472       12,847       23.276        0.459  ...........  ...........  ...........  ...........
Sep-12.............................           19      331,295       17,437       23.582        0.305  ...........  ...........  ...........  ...........
Oct-12.............................           21      137,562        6,551       22.603       -0.979  ...........  ...........  ...........  ...........
Nov-12.............................           21      221,521       10,549       23.079        0.476  ...........  ...........  ...........  ...........
Dec-12.............................           20      321,602       16,080       23.501        0.422  ...........  ...........  ...........  ...........
Jan-13.............................           21      368,488       17,547       23.588        0.087  ...........  ...........  ...........  ...........
Feb-13.............................           19      252,148       13,271       23.309       -0.279  ...........  ...........  ...........  ...........
Mar-13.............................           20      533,440       26,672       24.007        0.698  ...........  ...........  ...........  ...........
Apr-13.............................           22      235,779       10,717       23.095       -0.912  ...........  ...........  ...........  ...........
May-13.............................           22      382,950       17,407       23.580        0.485  ...........  ...........  ...........  ...........
Jun-13.............................           20      480,624       24,031       23.903        0.322  ...........  ...........  ...........  ...........
Jul-13.............................           22      263,869       11,994       23.208       -0.695  ...........  ...........  ...........  ...........
Aug-13.............................           22      253,305       11,514       23.167       -0.041  ...........  ...........  ...........  ...........
Sep-13.............................           20      267,923       13,396       23.318        0.151  ...........  ...........  ...........  ...........
Oct-13.............................           23      293,847       12,776       23.271       -0.047  ...........  ...........  ...........  ...........
Nov-13.............................           20      326,257       16,313       23.515        0.244  ...........  ...........  ...........  ...........
Dec-13.............................           21      358,169       17,056       23.560        0.045  ...........  ...........  ...........  ...........
Jan-14.............................           21      369,067       17,575       23.590        0.030  ...........  ...........  ...........  ...........
Feb-14.............................           19      298,376       15,704       23.477       -0.113  ...........  ...........  ...........  ...........
Mar-14.............................           21      564,840       26,897       24.015        0.538  ...........  ...........  ...........  ...........
Apr-14.............................           21      263,401       12,543       23.252       -0.763  ...........  ...........  ...........  ...........
May-14.............................           21      403,700       19,224       23.679        0.427  ...........  ...........  ...........  ...........
Jun-14.............................           21      423,075       20,146       23.726        0.047  ...........  ...........  ...........  ...........
Jul-14.............................           22      373,811       16,991       23.556       -0.170  ...........  ...........  ...........  ...........
Aug-14.............................           21      405,017       19,287       23.683        0.127  ...........  ...........  ...........  ...........
Sep-14.............................           21      409,349       19,493       23.693        0.011  ...........  ...........  ...........  ...........
Oct-14.............................           23      338,832       14,732       23.413       -0.280  ...........  ...........  ...........  ...........
Nov-14.............................           19      386,898       20,363       23.737        0.324  ...........  ...........  ...........  ...........
Dec-14.............................           22      370,760       16,853       23.548       -0.189  ...........  ...........  ...........  ...........
Jan-15.............................           20      394,127       19,706       23.704        0.156  ...........  ...........  ...........  ...........
Feb-15.............................           19      466,138       24,534       23.923        0.219  ...........  ...........  ...........  ...........
Mar-15.............................           22      753,747       34,261       24.257        0.334  ...........  ...........  ...........  ...........
Apr-15.............................           21      356,560       16,979       23.555       -0.702  ...........  ...........  ...........  ...........
May-15.............................           20      478,591       23,930       23.898        0.343  ...........  ...........  ...........  ...........
Jun-15.............................           22      446,102       20,277       23.733       -0.166  ...........  ...........  ...........  ...........
Jul-15.............................           22      402,062       18,276       23.629       -0.104  ...........  ...........  ...........  ...........
Aug-15.............................           21      334,746       15,940       23.492       -0.137  ...........  ...........  ...........  ...........
Sep-15.............................           21      289,872       13,803       23.348       -0.144  ...........  ...........  ...........  ...........
Oct-15.............................           22      300,276       13,649       23.337       -0.011  ...........  ...........  ...........  ...........
Nov-15.............................           20      409,690       20,485       23.743        0.406  ...........  ...........  ...........  ...........
Dec-15.............................           22      308,569       14,026       23.364       -0.379  ...........  ...........  ...........  ...........
Jan-16.............................           19      457,411       24,074       23.904        0.540  ...........  ...........  ...........  ...........
Feb-16.............................           20      554,343       27,717       24.045        0.141  ...........  ...........  ...........  ...........
Mar-16.............................           22      900,301       40,923       24.435        0.390  ...........  ...........  ...........  ...........
Apr-16.............................           21      250,716       11,939       23.203       -1.232  ...........  ...........  ...........  ...........
May-16.............................           21      409,992       19,523       23.695        0.492  ...........  ...........  ...........  ...........
Jun-16.............................           22      321,219       14,601       23.404       -0.291  ...........  ...........  ...........  ...........
Jul-16.............................           20      289,671       14,484       23.396       -0.008  ...........  ...........  ...........  ...........
Aug-16.............................           23  ...........  ...........  ...........  ...........    23.632167        0.342       19,439      447,089
Sep-16.............................           21  ...........  ...........  ...........  ...........    23.634974        0.347       19,526      410,051
Oct-16.............................           21  ...........  ...........  ...........  ...........    23.637781        0.351       19,614      411,898
Nov-16.............................           21  ...........  ...........  ...........  ...........    23.640588        0.356       19,703      413,754
Dec-16.............................           21  ...........  ...........  ...........  ...........    23.643395        0.361       19,791      415,618
Jan-17.............................           20  ...........  ...........  ...........  ...........    23.646202        0.366       19,880      397,610
Feb-17.............................           19  ...........  ...........  ...........  ...........    23.649009        0.370       19,970      379,431
Mar-17.............................           23  ...........  ...........  ...........  ...........    23.651816        0.375       20,060      461,381
Apr-17.............................           19  ...........  ...........  ...........  ...........    23.654623        0.379       20,150      382,858
May-17.............................           22  ...........  ...........  ...........  ...........    23.657430        0.384       20,241      445,306
Jun-17.............................           22  ...........  ...........  ...........  ...........    23.660237        0.388       20,332      447,312
Jul-17.............................           20  ...........  ...........  ...........  ...........    23.663044        0.392       20,424      408,479
Aug-17.............................           23  ...........  ...........  ...........  ...........    23.665851        0.397       20,516      471,867
Sep-17.............................           20  ...........  ...........  ...........  ...........    23.668658        0.401       20,608      412,168
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[GRAPHIC] [TIFF OMITTED] TN06SE16.006

[FR Doc. 2016-21268 Filed 9-2-16; 8:45 am]
 BILLING CODE 8011-01-C