Sunshine Act Meetings, 36281 [E9-17488]
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Federal Register / Vol. 74, No. 139 / Wednesday, July 22, 2009 / Notices
(b) Establish the Bank Loan Rate
formula used to determine the interest
rate on Interfund Loans and review, no
less frequently than annually, the
continuing appropriateness of the Bank
Loan Rate formula; and
(c) Review, no less frequently than
annually, the continuing
appropriateness of each Fund’s
participation in the proposed credit
facility.
15. In the event an Interfund Loan is
not paid according to its terms and such
default is not cured within two business
days from its maturity or from the time
the lending Fund makes a demand for
payment under the provisions of the
Interfund Lending Agreement, FAM will
promptly refer such loan for arbitration
to an independent arbitrator selected by
the Trustees of each Fund involved in
the loan who will serve as arbitrator of
disputes concerning Interfund Loans.3
The arbitrator will resolve any problem
promptly, and the arbitrator’s decision
will be binding on both Funds. The
arbitrator will submit, at least annually,
a written report to the Trustees setting
forth a description of the nature of any
dispute and the actions taken by the
Funds to resolve the dispute.
16. Each Fund will maintain and
preserve for a period of not less than six
years from the end of the fiscal year in
which any transaction by it under the
proposed credit facility occurred, the
first two years in an easily accessible
place, written records of all such
transactions setting forth a description
of the terms of the transactions,
including the amount, the maturity and
the Interfund Loan Rate, the rate of
interest available at the time each
Interfund Loan is made on overnight
bank time deposits and such other
information presented to the Fund’s
Trustees in connection with the review
required by conditions 13 and 14.
17. FAM will prepare and submit to
the Trustees for review an initial report
describing the operations of the
proposed credit facility and the
procedures to be implemented to ensure
that all Funds are treated fairly. After
the commencement of the proposed
credit facility, FAM will report on the
operations of the proposed credit
facility at the Trustees’ quarterly
meetings.
In addition, for two years following
the commencement of the credit facility,
the independent public accountant for
each Fund shall prepare an annual
report that evaluates FAM’s assertion
3 If the dispute involves Funds with different
Trustees, the respective Trustees of each Fund will
select an independent arbitrator that is satisfactory
to each Fund.
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that it has established procedures
reasonably designed to achieve
compliance with the terms and
conditions of the order. The report will
be prepared in accordance with the
Statements on Standards for Attestation
Engagements No. 10, and it shall be
filed pursuant to Item 77Q3 of Form N–
SAR as such Statements or Form may be
revised, amended, or superseded from
time to time. In particular, the report
shall address procedures designed to
achieve the following objectives:
(a) That the Interfund Loan Rate will
be higher than the Time Deposit Rate,
but lower than the Bank Loan Rate;
(b) Compliance with the collateral
requirements as set forth in the
application;
(c) Compliance with the percentage
limitations on interfund borrowing and
lending;
(d) Allocation of interfund borrowing
and lending demand in an equitable
manner and in accordance with
procedures established by the Trustees;
and
(e) That the Interfund Loan Rate does
not exceed the interest rate on any third
party borrowings of a borrowing Fund at
the time of the Interfund Loan.
After the final report is filed, each
Fund’s independent auditors, in
connection with their audit examination
of the Funds, will continue to review
the operation of the proposed credit
facility for compliance with the
conditions of the application and their
review will form the basis, in part, of
the auditor’s report on internal
accounting controls in Form NSAR.
18. No Fund will participate in the
proposed credit facility upon receipt of
requisite regulatory approval unless it
has fully disclosed in its prospectus
and/or statement of additional
information all material facts about its
intended participation.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–17355 Filed 7–21–09; 8:45 am]
BILLING CODE 8010–01–P
36281
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meetings. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
and 17 CFR 200.402(a)(3), (5), (7), 9(ii)
and (10), permit consideration of the
scheduled matters at the Closed
Meetings.
Commissioner Casey, as duty officer,
voted to consider the items listed for the
Closed Meetings in a closed session, and
determined that no earlier notice thereof
was possible.
The subject matter of the Closed
Meeting scheduled for Thursday, July
23, 2009 will be:
institution and settlement of injunctive
actions; institution and settlement of
administrative proceedings; and other
matters relating to enforcement proceedings.
The subject matter of the Closed
Meeting scheduled for Friday, July 24,
2009 will be:
consideration of amici consideration; and
litigation matters.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact:
The Office of the Secretary at (202)
551–5400.
Dated: July 17, 2009.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–17488 Filed 7–20–09; 11:15 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. PA–39; File No. S7–14–09]
Privacy Act of 1974: Systems of
Records
Sunshine Act Meetings
AGENCY: Securities and Exchange
Commission.
ACTION: Notice to establish systems of
records.
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold Closed Meetings
on Thursday, July 23, 2009 at 2 p.m. and
on Friday, July 24, 2009 at 8 a.m.
SUMMARY: In accordance with the
requirements of the Privacy Act of 1974,
as amended, 5 U.S.C. 552a, the
Securities and Exchange Commission
(‘‘Commission’’ or ‘‘SEC’’) gives notice
of proposing to establish the following
five new Privacy Act systems of records:
SECURITIES AND EXCHANGE
COMMISSION
PO 00000
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[Federal Register Volume 74, Number 139 (Wednesday, July 22, 2009)]
[Notices]
[Page 36281]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-17488]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meetings
Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold Closed Meetings on Thursday, July 23,
2009 at 2 p.m. and on Friday, July 24, 2009 at 8 a.m.
Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meetings.
Certain staff members who have an interest in the matters also may be
present.
The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matters at the Closed Meetings.
Commissioner Casey, as duty officer, voted to consider the items
listed for the Closed Meetings in a closed session, and determined that
no earlier notice thereof was possible.
The subject matter of the Closed Meeting scheduled for Thursday,
July 23, 2009 will be:
institution and settlement of injunctive actions; institution and
settlement of administrative proceedings; and other matters relating
to enforcement proceedings.
The subject matter of the Closed Meeting scheduled for Friday, July
24, 2009 will be:
consideration of amici consideration; and litigation matters.
At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact:
The Office of the Secretary at (202) 551-5400.
Dated: July 17, 2009.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-17488 Filed 7-20-09; 11:15 am]
BILLING CODE 8010-01-P
