New Competitive Postal Product, 9317-9318 [E9-4415]

Download as PDF Federal Register / Vol. 74, No. 40 / Tuesday, March 3, 2009 / Notices and Communications, Expedited Shipping, asserts that the service to be provided under the contract will cover its attributable costs, make a positive contribution to institutional costs, and increase contribution toward the requisite 5.5 percent of the Postal Service’s total institutional costs. Id., Attachment D. Thus, Ms. Parks contends there will be no issue of subsidization of competitive products by market dominant products as a result of this contract. Id. Related contract. A redacted version of the specific Express Mail & Priority Mail Contract 4 is included with the Request. The contract is for 3 years and is to be effective 1 day after the Commission provides all necessary regulatory approvals. The Postal Service represents that the contract is consistent with 39 U.S.C. 3633(a) and 39 CFR 3015.7(c). See id., Attachment A and Attachment E. It notes that actual performance under this contract could vary from estimates, but concludes that the risks are manageable. Id., Attachment A. The Postal Service filed much of the supporting materials, including the Governors’ Decision and the specific Express Mail & Priority Mail Contract 4, under seal. In its Request, the Postal Service maintains that the contract and related financial information, including the customer’s name and the accompanying analyses that provide prices, terms, conditions, and financial projections should remain under seal. Id. at 2–3. mstockstill on PROD1PC66 with NOTICES II. Notice of Filings The Commission establishes Docket Nos. MC2009–17 and CP2009–24 for consideration of the Request pertaining to the proposed Express Mail & Priority Mail Contract 4 product and the related contract, respectively. In keeping with practice, these dockets are addressed on a consolidated basis for purposes of this order; however, future filings should be made in the specific docket in which issues being addressed pertain. Interested persons may submit comments on whether the Postal Service’s filings in the captioned dockets are consistent with the policies of 39 U.S.C. 3632, 3633, or 3642 and 39 CFR part 3015 and 39 CFR 3020 subpart B. Comments are due no later than March 4, 2009. The public portions of these filings can be accessed via the Commission’s Web site (https:// www.prc.gov). The Commission appoints Paul L. Harrington to serve as Public Representative in these dockets. VerDate Nov<24>2008 16:42 Mar 02, 2009 Jkt 217001 III. Ordering Paragraphs It is Ordered: 1. The Commission establishes Docket Nos. MC2009–17 and CP2009–24 for consideration of the matters raised in each docket. 2. Pursuant to 39 U.S.C. 505, Paul L. Harrington is appointed to serve as officer of the Commission (Public Representative) to represent the interests of the general public in these proceedings. 3. Comments by interested persons in these proceedings are due no later than March 4, 2009. 4. The Secretary shall arrange for publication of this order in the Federal Register. By the Commission. Steven W. Williams, Secretary. [FR Doc. E9–4414 Filed 3–2–09; 8:45 am] BILLING CODE 7710–FW–P POSTAL REGULATORY COMMISSION [Docket Nos. MC2009–18 and CP2009–25; Order No. 185] New Competitive Postal Product Postal Regulatory Commission. Notice. AGENCY: ACTION: SUMMARY: The Commission is noticing a recently-filed Postal Service request to add Express Mail & Priority Mail Contract Mail 5 to the Competitive Product List. The Postal Service has also filed a related contract. This notice addresses procedural steps associated with these filings. DATES: Comments are due March 4, 2009. ADDRESSES: Submit comments electronically via the Commission’s Filing Online system at https:// www.prc.gov. FOR FURTHER INFORMATION CONTACT: Stephen L. Sharfman, General Counsel, 202–789–6820 and stephen.sharfman@prc.gov. SUPPLEMENTARY INFORMATION: I. Introduction On February 20, 2009, the Postal Service filed a formal request pursuant to 39 U.S.C. 3642 and 39 CFR 3020.30 et seq. to add Express Mail & Priority Mail Contract 5 to the Competitive Product List.1 The Postal Service asserts that the Express Mail & Priority Mail 1 Request of the United States Postal Service to Add Express Mail & Priority Mail Contract 5 to Competitive Product List and Notice of Establishment of Rates and Class Not of General Applicability, February 20, 2009 (Request). PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 9317 Contract 5 product is a competitive product ‘‘not of general applicability’’ within the meaning of 39 U.S.C. 3632(b)(3). Request at 1. The Request has been assigned Docket No. MC2009– 18. The Postal Service contemporaneously filed a contract related to the proposed new product pursuant to 39 U.S.C. 3632(b)(3) and 39 CFR 3015.5. The contract has been assigned Docket No. CP2009–25. Request. The Request incorporates (1) A redacted version of the Governors’ Decision authorizing the new product; (2) a redacted version of the contract; (3) requested changes in the Mail Classification Schedule product list; (4) a statement of supporting justification as required by 39 CFR 3020.32; and (5) certification of compliance with 39 U.S.C. 3633(a).2 Substantively, the Request seeks to add Express Mail & Priority Mail Contract 5 to the Competitive Product List. Request at 1– 2. In the statement of supporting justification, Kim Parks, Manager, Sales and Communications, Expedited Shipping, asserts that the service to be provided under the contract will cover its attributable costs, make a positive contribution to institutional costs, and increase contribution toward the requisite 5.5 percent of the Postal Service’s total institutional costs. Id., Attachment D. Thus, Ms. Parks contends there will be no issue of subsidization of competitive products by market dominant products as a result of this contract. Id. Related contract. A redacted version of the specific Express Mail & Priority Mail Contract 5 is included with the Request. The contract is for 3 years and is to be effective 1 day after the Commission provides all necessary regulatory approvals. The Postal Service represents that the contract is consistent with 39 U.S.C. 3633(a) and 39 CFR 3015.7(c). See id., Attachment A and Attachment E. It notes that actual performance under this contract could vary from estimates, but concludes that 2 Attachment A to the Request consists of the redacted Decision of the Governors of the United States Postal Service on Establishment of Rate and Class Not of General Applicability for Express Mail and Priority Mail Services (Governors’ Decision No. 09–3). The Governors’ Decision includes an attachment which provides an analysis of the proposed Express Mail and Priority Mail Contract 5 and certification of the Governors’ vote. Attachment B is the redacted version of the contract. Attachment C shows the requested changes to the Mail Classification Schedule product list. Attachment D provides a statement of supporting justification for the Request. Attachment E provides the certification of compliance with 39 U.S.C. 3633(a). E:\FR\FM\03MRN1.SGM 03MRN1 9318 Federal Register / Vol. 74, No. 40 / Tuesday, March 3, 2009 / Notices the risks are manageable. Id., Attachment A. The Postal Service filed much of the supporting materials, including the Governors’ Decision and the specific Express Mail & Priority Mail Contract 5, under seal. In its Request, the Postal Service maintains that the contract and related financial information, including the customer’s name and the accompanying analyses that provide prices, terms, conditions, and financial projections should remain under seal. Id. at 2–3. II. Notice of Filings The Commission establishes Docket Nos. MC2009–18 and CP2009–25 for consideration of the Request pertaining to the proposed Express Mail & Priority Mail Contract 5 product and the related contract, respectively. In keeping with practice, these dockets are addressed on a consolidated basis for purposes of this order; however, future filings should be made in the specific docket in which issues being addressed pertain. Interested persons may submit comments on whether the Postal Service’s filings in the captioned dockets are consistent with the policies of 39 U.S.C. 3632, 3633, or 3642 and 39 CFR part 3015 and 39 CFR 3020 subpart B. Comments are due no later than March 4, 2009. The public portions of these filings can be accessed via the Commission’s Web site (https:// www.prc.gov). The Commission appoints Paul L. Harrington to serve as Public Representative in these dockets. mstockstill on PROD1PC66 with NOTICES III. Ordering Paragraphs It is Ordered: 1. The Commission establishes Docket Nos. MC2009–18 and CP2009–25 for consideration of the matters raised in each docket. 2. Pursuant to 39 U.S.C. 505, Paul L. Harrington is appointed to serve as officer of the Commission (Public Representative) to represent the interests of the general public in these proceedings. 3. Comments by interested persons in these proceedings are due no later than March 4, 2009. 4. The Secretary shall arrange for publication of this order in the Federal Register. By the Commission. Steven W. Williams, Secretary. [FR Doc. E9–4415 Filed 3–2–09; 8:45 am] 16:42 Mar 02, 2009 Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 22c–2; SEC File No. 270–541; OMB Control No. 3235–0620. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) the Securities and Exchange Commission (the ‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Rule 22c–2 (17 CFR 270.22c–2 ‘‘Mutual Fund Redemption Fees’’) under the Investment Company Act of 1940 (15 U.S.C. 80a) (the ‘‘Investment Company Act’’ or ‘‘Act’’) requires the board of directors (including a majority of independent directors) of most registered investment companies (‘‘funds’’) to either approve a redemption fee of up to two percent or determine that imposition of a redemption fee is not necessary or appropriate for the fund. Rule 22c–2 also requires a fund to enter into written agreements with their financial intermediaries (such as broker-dealers and retirement plan administrators) under which the fund, upon request, can obtain certain shareholder identity and trading information from the intermediaries. The written agreement must also allow the fund to direct the intermediary to prohibit further purchases or exchanges by specific shareholders that the fund has identified as being engaged in transactions that violate the fund’s market timing policies. These requirements enable funds to obtain the information that they need to monitor the frequency of short-term trading in omnibus accounts and enforce their market timing policies. The rule includes three ‘‘collections of information’’ within the meaning of the Paperwork Reduction Act of 1995 (‘‘PRA’’).1 First, the rule requires boards to either approve a redemption fee of up to two percent or determine that imposition of a redemption fee is not necessary or appropriate for the fund. Second, funds must enter into information sharing agreements with all 1 44 BILLING CODE 7710–FW–P VerDate Nov<24>2008 SECURITIES AND EXCHANGE COMMISSION Jkt 217001 PO 00000 U.S.C. 3501–3520. Frm 00108 Fmt 4703 Sfmt 4703 of their ‘‘financial intermediaries’’ 2 and maintain a copy of the written information sharing agreement with each intermediary in an easily accessible place for six years. Third, pursuant to the information sharing agreements, funds must have systems that enable them to request frequent trading information upon demand from their intermediaries, and to enforce any restrictions on trading required by funds under the rule. The collections of information created by Rule 22c–2 are necessary for funds to effectively assess redemption fees, enforce their policies in frequent trading, and monitor short-term trading, including market timing, in omnibus accounts. These collections of information are mandatory for funds that redeem shares within seven days of purchase. The collections of information also are necessary to allow Commission staff to fulfill its examination and oversight responsibilities. Rule 22c–2(a)(1) requires the board of directors of all registered investment companies and series thereof (except for money market funds, ETFs, or funds that affirmatively permit short-term trading of its securities) to approve a redemption fee for the fund, or instead make a determination that a redemption fee is either not necessary or appropriate for the fund. Commission staff understands that the boards of all funds currently in operation have undertaken this process for the funds they currently oversee, and the rule does not require boards to review this determination periodically once it has been made. Accordingly, we expect that only boards of newly registered funds or newly created series thereof would undertake this determination. Commission staff estimates that approximately 300 funds or series thereof (excluding money market funds and ETFs) are newly formed each year and would need to make this determination. Commission staff estimates that it takes approximately 2 hours of the boards’ time, as a whole, to approve a 2 The rule defines a Financial Intermediary as: (i) Any broker, dealer, bank, or other person that holds securities issued by the fund in nominee name; (ii) a unit investment trust or fund that invests in the fund in reliance on section 12(d)(i)(E) of the Act; and (iii) in the case of a participant directed employee benefit plan that owns the securities issued by the fund, a retirement plan’s administrator under section 316(A) of the Employee Retirement Security Act of 1974 (29 U.S.C. 1002(16)(A) or any person that maintains the plans’ participant records. Financial Intermediary does not include any person that the fund treats as an individual investor with respect to the fund’s policies established for the purpose of eliminating or reducing any dilution of the value of the outstanding securities issued by the fund. Rule 22c– 2(c)(1). E:\FR\FM\03MRN1.SGM 03MRN1

Agencies

POSTAL REGULATORY COMMISSION

[Federal Register Volume 74, Number 40 (Tuesday, March 3, 2009)]
[Notices]
[Pages 9317-9318]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-4415]


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

POSTAL REGULATORY COMMISSION

[Docket Nos. MC2009-18 and CP2009-25; Order No. 185]


New Competitive Postal Product

AGENCY: Postal Regulatory Commission.

ACTION: Notice.

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

SUMMARY: The Commission is noticing a recently-filed Postal Service 
request to add Express Mail & Priority Mail Contract Mail 5 to the 
Competitive Product List. The Postal Service has also filed a related 
contract. This notice addresses procedural steps associated with these 
filings.

DATES: Comments are due March 4, 2009.

ADDRESSES: Submit comments electronically via the Commission's Filing 
Online system at https://www.prc.gov.

FOR FURTHER INFORMATION CONTACT: Stephen L. Sharfman, General Counsel, 
202-789-6820 and stephen.sharfman@prc.gov.

SUPPLEMENTARY INFORMATION:

I. Introduction

    On February 20, 2009, the Postal Service filed a formal request 
pursuant to 39 U.S.C. 3642 and 39 CFR 3020.30 et seq. to add Express 
Mail & Priority Mail Contract 5 to the Competitive Product List.\1\ The 
Postal Service asserts that the Express Mail & Priority Mail Contract 5 
product is a competitive product ``not of general applicability'' 
within the meaning of 39 U.S.C. 3632(b)(3). Request at 1. The Request 
has been assigned Docket No. MC2009-18.
---------------------------------------------------------------------------

    \1\ Request of the United States Postal Service to Add Express 
Mail & Priority Mail Contract 5 to Competitive Product List and 
Notice of Establishment of Rates and Class Not of General 
Applicability, February 20, 2009 (Request).
---------------------------------------------------------------------------

    The Postal Service contemporaneously filed a contract related to 
the proposed new product pursuant to 39 U.S.C. 3632(b)(3) and 39 CFR 
3015.5. The contract has been assigned Docket No. CP2009-25.
    Request. The Request incorporates (1) A redacted version of the 
Governors' Decision authorizing the new product; (2) a redacted version 
of the contract; (3) requested changes in the Mail Classification 
Schedule product list; (4) a statement of supporting justification as 
required by 39 CFR 3020.32; and (5) certification of compliance with 39 
U.S.C. 3633(a).\2\ Substantively, the Request seeks to add Express Mail 
& Priority Mail Contract 5 to the Competitive Product List. Request at 
1-2.
---------------------------------------------------------------------------

    \2\ Attachment A to the Request consists of the redacted 
Decision of the Governors of the United States Postal Service on 
Establishment of Rate and Class Not of General Applicability for 
Express Mail and Priority Mail Services (Governors' Decision No. 09-
3). The Governors' Decision includes an attachment which provides an 
analysis of the proposed Express Mail and Priority Mail Contract 5 
and certification of the Governors' vote. Attachment B is the 
redacted version of the contract. Attachment C shows the requested 
changes to the Mail Classification Schedule product list. Attachment 
D provides a statement of supporting justification for the Request. 
Attachment E provides the certification of compliance with 39 U.S.C. 
3633(a).
---------------------------------------------------------------------------

    In the statement of supporting justification, Kim Parks, Manager, 
Sales and Communications, Expedited Shipping, asserts that the service 
to be provided under the contract will cover its attributable costs, 
make a positive contribution to institutional costs, and increase 
contribution toward the requisite 5.5 percent of the Postal Service's 
total institutional costs. Id., Attachment D. Thus, Ms. Parks contends 
there will be no issue of subsidization of competitive products by 
market dominant products as a result of this contract. Id.
    Related contract. A redacted version of the specific Express Mail & 
Priority Mail Contract 5 is included with the Request. The contract is 
for 3 years and is to be effective 1 day after the Commission provides 
all necessary regulatory approvals. The Postal Service represents that 
the contract is consistent with 39 U.S.C. 3633(a) and 39 CFR 3015.7(c). 
See id., Attachment A and Attachment E. It notes that actual 
performance under this contract could vary from estimates, but 
concludes that

[[Page 9318]]

the risks are manageable. Id., Attachment A.
    The Postal Service filed much of the supporting materials, 
including the Governors' Decision and the specific Express Mail & 
Priority Mail Contract 5, under seal. In its Request, the Postal 
Service maintains that the contract and related financial information, 
including the customer's name and the accompanying analyses that 
provide prices, terms, conditions, and financial projections should 
remain under seal. Id. at 2-3.

II. Notice of Filings

    The Commission establishes Docket Nos. MC2009-18 and CP2009-25 for 
consideration of the Request pertaining to the proposed Express Mail & 
Priority Mail Contract 5 product and the related contract, 
respectively. In keeping with practice, these dockets are addressed on 
a consolidated basis for purposes of this order; however, future 
filings should be made in the specific docket in which issues being 
addressed pertain.
    Interested persons may submit comments on whether the Postal 
Service's filings in the captioned dockets are consistent with the 
policies of 39 U.S.C. 3632, 3633, or 3642 and 39 CFR part 3015 and 39 
CFR 3020 subpart B. Comments are due no later than March 4, 2009. The 
public portions of these filings can be accessed via the Commission's 
Web site (https://www.prc.gov).
    The Commission appoints Paul L. Harrington to serve as Public 
Representative in these dockets.

III. Ordering Paragraphs

    It is Ordered:
    1. The Commission establishes Docket Nos. MC2009-18 and CP2009-25 
for consideration of the matters raised in each docket.
    2. Pursuant to 39 U.S.C. 505, Paul L. Harrington is appointed to 
serve as officer of the Commission (Public Representative) to represent 
the interests of the general public in these proceedings.
    3. Comments by interested persons in these proceedings are due no 
later than March 4, 2009.
    4. The Secretary shall arrange for publication of this order in the 
Federal Register.

    By the Commission.
Steven W. Williams,
Secretary.
 [FR Doc. E9-4415 Filed 3-2-09; 8:45 am]
BILLING CODE 7710-FW-P

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