Data Collection Available for Public Comments and Recommendations, 68393 [2010-27925]
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Federal Register / Vol. 75, No. 214 / Friday, November 5, 2010 / Notices
and is determined by approximating the
change in margin requirement caused by
depositing or withdrawing a particular
security from the Clearing Member’s
account based on the risk characteristics
of that security and its consequent
assessed value. OCC believes this
process will provide a more accurate
projection of the margin impact of
collateral withdrawals and substitutions
on a Clearing Member’s account. This
process is already used to analyze the
impact of substitutions and withdrawals
of equity collateral within the STANS
Monte Carlo simulations.7
OCC’s Rule 601, ‘‘Margin
Requirements,’’ already provides that
margin assets in the form of securities
may be incorporated into the Monte
Carlo calculations as an alternative to
valuing such assets under Rule 604,
‘‘Form of Margin Assets.’’ In connection
with incorporating common stocks and
ETFs into the STANS calculation, OCC
adopted Interpretation and Policy .06
under Rule 601 to clarify that margin
assets in the form of common stocks and
ETFs would be included in the Monte
Carlo simulations described in Rule 601
for purposes of determining the
minimum expected liquidating value of
an account with other margin assets
being valued as provided for under Rule
604.8 OCC is now broadening the
interpretation to provide that OCC may
designate those margin assets which if
deposited into a Clearing Member’s
account will be valued as provided in
Rule 601 rather than Rule 604. This
change is intended to facilitate OCC’s
adoption of certain government
securities into the STANS margin
calculation process.
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III. Discussion
Section 17A(b)(3)(F) 9 requires, among
other things, that the rules of a clearing
agency are designed to safeguard
securities and funds in the clearing
agency’s possession or control or for
which it is responsible. This requires
OCC to have the ability to meet its
settlement obligations following a
member’s default. It is therefore
necessary that OCC have an effective
methodology for calculating margin
requirements that are sufficient to
7 OCC believes the approach currently used to
assess the impact of collateral substitutions and
withdrawals represents an improvement over that
outlined in File No. SR–OCC–2007–20.
Interpretation and Policy .01 under Rule 608
generally provides that OCC may specify
procedures from time-to-time to assess the impact
of collateral withdrawals and substitutions.
8 Rule 604(f) provides that, in lieu of the
valuations provided for in Rule 604, OCC may elect
to value any or all margin assets in the form of
securities pursuant to Rule 601.
9 15 U.S.C. 78q–1(b)(3)(F).
VerDate Mar<15>2010
17:16 Nov 04, 2010
Jkt 223001
enable OCC to complete settlement in
the event a member becomes insolvent
or otherwise fails to meet its obligations
to OCC. The Commission believes that
the changes OCC is making to include
government securities within the
STANS risk management methodology
should better enable OCC to fulfill its
safeguarding obligations under the Act
and therefore is consistent with the Act.
IV. Conclusion
On the basis of the foregoing, the
Commission finds that the proposal is
consistent with the requirements of the
Act and in particular with the
requirements of Section 17A of the
Act 10 and the rules and regulations
thereunder.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,11 that the
proposed rule change (File No. SR–
OCC–2010–14) be, and hereby is,
approved.12
For the Commission by the Division of
Trading and Markets, pursuant to delegated
authority.13
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–28057 Filed 11–4–10; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public
Comments and Recommendations
Notice and request for
comments.
ACTION:
In accordance with the
Paperwork Reduction Act of 1995, this
notice announces the Small Business
Administration’s intentions to request
approval on a new and/or currently
approved information collection.
DATES: Submit comments on or before
January 4, 2011.
ADDRESSES: Send all comments
regarding whether these information
collections are necessary for the proper
performance of the function of the
agency, whether the burden estimates
are accurate, and if there are ways to
minimize the estimated burden and
enhance the quality of the collections, to
A. B. McConnell, Jr., Chief 504 Program
Branch, Office of Financial Assistance,
Small Business Administration, 409 3rd
Street, 8th Floor, Washington, DC
20416.
SUMMARY:
10 15
U.S.C. 78q–1.
11 15 U.S.C. 78s(b)(2).
12 In approving the proposed rule change, the
Commission considered the proposal’s impact on
efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
13 17 CFR 200.30–3(a)(12).
PO 00000
Frm 00079
Fmt 4703
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68393
A.
B. McConnell, Jr., Chief of 504 Branch,
Office of Financial Assistance, 202–
205–7238, Andrew.mcconnell@sba.gov;
Curtis Rich, Management Analyst, 202–
205–7030 curtis.rich@sba.gov.
SUPPLEMENTARY INFORMATION: The
information collected through these
forms from the small business
applicants and participating lenders
will be used to determine eligibility and
to properly evaluate the merits of each
loan request based on reasonable and
customary underwriting criteria such as
character, capacity, credit collateral, etc.
This information is collected for the
purpose of extending credit under the
504 loan program.
Title: U.S. Small Business
Administration Application for Section
504 Loan.
Description of Respondents: 504
Lenders.
Form Number: SBA Form 1244.
Annual Responses: 6,800.
Annual Burden: 15,735.
Title: Eligibility Information Required
for 504 Submission (non PCLP).
Description of Respondents: 504
Lenders.
Form Number: SBA Form 2415.
Annual Responses: 5,100.
Annual Burden: 4,675.
Title: PCLP Quarterly Loan Loss
Reserve Report and PCLP Guarantee
Request.
Description of Respondents: 504
Lenders.
Form Number: SBA Forms 2233, 2234
(Part A), 2234 (Part B), 2234 (Part C)
(Note: SBA Form 2234 (Part C) is the
only form being revised).
Annual Responses: 1,700.
Annual Burden: 1,558.
Title: Servicing Agent Agreement.
Description of Respondents: 504
Lenders.
Form Number: SBA Form 1506.
Annual Reponses: 7,830.
Annual Burden: 7, 830.
FOR FURTHER INFORMATION CONTACT:
Curtis B. Rich,
Acting Chief, Administrative Information
Branch.
[FR Doc. 2010–27925 Filed 11–4–10; 8:45 am]
BILLING CODE P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration # 12366 and # 12367]
Puerto Rico Disaster # PR–00011
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
This is a notice of an
Administrative declaration of a disaster
SUMMARY:
E:\FR\FM\05NON1.SGM
05NON1
]]>Agencies
[Federal Register Volume 75, Number 214 (Friday, November 5, 2010)]
[Notices]
[Page 68393]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-27925]
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SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public Comments and Recommendations
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this
notice announces the Small Business Administration's intentions to
request approval on a new and/or currently approved information
collection.
DATES: Submit comments on or before January 4, 2011.
ADDRESSES: Send all comments regarding whether these information
collections are necessary for the proper performance of the function of
the agency, whether the burden estimates are accurate, and if there are
ways to minimize the estimated burden and enhance the quality of the
collections, to A. B. McConnell, Jr., Chief 504 Program Branch, Office
of Financial Assistance, Small Business Administration, 409 3rd Street,
8th Floor, Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT: A. B. McConnell, Jr., Chief of 504
Branch, Office of Financial Assistance, 202-205-7238,
Andrew.mcconnell@sba.gov; Curtis Rich, Management Analyst, 202-205-7030
curtis.rich@sba.gov.
SUPPLEMENTARY INFORMATION: The information collected through these
forms from the small business applicants and participating lenders will
be used to determine eligibility and to properly evaluate the merits of
each loan request based on reasonable and customary underwriting
criteria such as character, capacity, credit collateral, etc. This
information is collected for the purpose of extending credit under the
504 loan program.
Title: U.S. Small Business Administration Application for Section
504 Loan.
Description of Respondents: 504 Lenders.
Form Number: SBA Form 1244.
Annual Responses: 6,800.
Annual Burden: 15,735.
Title: Eligibility Information Required for 504 Submission (non
PCLP).
Description of Respondents: 504 Lenders.
Form Number: SBA Form 2415.
Annual Responses: 5,100.
Annual Burden: 4,675.
Title: PCLP Quarterly Loan Loss Reserve Report and PCLP Guarantee
Request.
Description of Respondents: 504 Lenders.
Form Number: SBA Forms 2233, 2234 (Part A), 2234 (Part B), 2234
(Part C) (Note: SBA Form 2234 (Part C) is the only form being revised).
Annual Responses: 1,700.
Annual Burden: 1,558.
Title: Servicing Agent Agreement.
Description of Respondents: 504 Lenders.
Form Number: SBA Form 1506.
Annual Reponses: 7,830.
Annual Burden: 7, 830.
Curtis B. Rich,
Acting Chief, Administrative Information Branch.
[FR Doc. 2010-27925 Filed 11-4-10; 8:45 am]
BILLING CODE P
