Post Office Closing, 59749-59750 [2011-24709]
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Federal Register / Vol. 76, No. 187 / Tuesday, September 27, 2011 / Notices
accommodation will be made on a caseby-case basis.
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This notice is distributed
electronically to subscribers. If you no
longer wish to receive it, or would like
to be added to the distribution, please
contact the Office of the Secretary,
Washington, DC 20555 (301–415–1969),
or send an e-mail to
darlene.wright@nrc.gov.
Dated: September 22, 2011.
Rochelle Bavol,
Policy Coordinator, Office of the Secretary.
[FR Doc. 2011–24938 Filed 9–23–11; 4:15 pm]
BILLING CODE 7590–01–P
POSTAL REGULATORY COMMISSION
[Docket No. A2011–77; Order No. 866]
Post Office Closing
Postal Regulatory Commission.
Notice.
AGENCY:
ACTION:
This document informs the
public that an appeal of the closing of
the Martinsburg, New York post office
has been filed. It identifies preliminary
steps and provides a procedural
schedule. Publication of this document
will allow the Postal Service, petitioner,
and others to take appropriate action.
DATES: Administrative record due (from
Postal Service): October 3, 2011;
deadline for notices to intervene:
October 17, 2011. See the Procedural
Schedule in the SUPPLEMENTARY
INFORMATION section for other dates of
interest.
SUMMARY:
Submit comments
electronically by accessing the ‘‘Filing
Online’’ link in the banner at the top of
the Commission’s Web site (https://
www.prc.gov) or by directly accessing
the Commission’s Filing Online system
at https://www.prc.gov/prc-pages/filingonline/login.aspx. Commenters who
cannot submit their views electronically
should contact the person identified in
the FOR FURTHER INFORMATION CONTACT
section as the source for case-related
information for advice on alternatives to
electronic filing.
FOR FURTHER INFORMATION CONTACT:
Stephen L. Sharfman, General Counsel,
at 202–789–6820 (case-related
information) or DocketAdmins@prc.gov
(electronic filing assistance).
SUPPLEMENTARY INFORMATION: Notice is
hereby given that, pursuant to 39 U.S.C.
404(d), on September 16, 2011, the
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ADDRESSES:
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Commission received a petition for
review of the Postal Service’s
determination to close the Martinsburg
post office in Martinsburg, New York.
The petition was filed by the Citizens of
Martinsburg (Petitioner) and is
postmarked September 9, 2011. The
Commission hereby institutes a
proceeding under 39 U.S.C. 404(d)(5)
and establishes Docket No. A2011–77 to
consider Petitioner’s appeal. If
Petitioner would like to further explain
its position with supplemental
information or facts, Petitioner may
either file a Participant Statement on
PRC Form 61 or file a brief with the
Commission no later than October 21,
2011.
Categories of issues apparently raised.
Petitioner contends that the Postal
Service failed to adequately consider the
economic savings resulting from the
closure. See 39 U.S.C. 404(d)(2)(A)(iv).
After the Postal Service files the
administrative record and the
Commission reviews it, the Commission
may find that there are more legal issues
than the one set forth above, or that the
Postal Service’s determination disposes
of one or more of those issues. The
deadline for the Postal Service to file the
applicable administrative record with
the Commission is October 3, 2011. See
39 CFR 3001.113. In addition, the due
date for any responsive pleading by the
Postal Service to this Notice is October
3, 2011.
Availability; Web site posting. The
Commission has posted the appeal and
supporting material on its Web site at
https://www.prc.gov. Additional filings
in this case and participants’
submissions also will be posted on the
Commission’s Web site, if provided in
electronic format or amenable to
conversion, and not subject to a valid
protective order. Information on how to
use the Commission’s Web site is
available online or by contacting the
Commission’s webmaster via telephone
at 202–789–6873 or via electronic mail
at prc-webmaster@prc.gov.
The appeal and all related documents
are also available for public inspection
in the Commission’s docket section.
Docket section hours are 8 a.m. to 4:30
p.m., eastern time, Monday through
Friday, except on Federal government
holidays. Docket section personnel may
be contacted via electronic mail at prcdockets@prc.gov or via telephone at
202–789–6846.
Filing of documents. All filings of
documents in this case shall be made
using the Internet (Filing Online)
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59749
pursuant to Commission rules 9(a) and
10(a) at the Commission’s Web site,
https://www.prc.gov, unless a waiver is
obtained. See 39 CFR 3001.9(a) and
3001.10(a). Instructions for obtaining an
account to file documents online may be
found on the Commission’s Web site or
by contacting the Commission’s docket
section at prc-dockets@prc.gov or via
telephone at 202–789–6846.
The Commission reserves the right to
redact personal information which may
infringe on an individual’s privacy
rights from documents filed in this
proceeding.
Intervention. Persons, other than
Petitioner and respondent, wishing to be
heard in this matter are directed to file
a notice of intervention. See 39 CFR
3001.111(b). Notices of intervention in
this case are to be filed on or before
October 17, 2011. A notice of
intervention shall be filed using the
Internet (Filing Online) at the
Commission’s Web site unless a waiver
is obtained for hardcopy filing. See 39
CFR 3001.9(a) and 3001.10(a).
Further procedures. By statute, the
Commission is required to issue its
decision within 120 days from the date
it receives the appeal. See 39 U.S.C.
404(d)(5). A procedural schedule has
been developed to accommodate this
statutory deadline. In the interest of
expedition, in light of the 120-day
decision schedule, the Commission may
request the Postal Service or other
participants to submit information or
memoranda of law on any appropriate
issue. As required by the Commission
rules, if any motions are filed, responses
are due 7 days after any such motion is
filed. See 39 CFR 3001.21.
It is ordered:
1. The Postal Service shall file the
applicable administrative record
regarding this appeal no later than
October 3, 2011.
2. Any responsive pleading by the
Postal Service to this Notice is due no
later than October 3, 2011.
3. The procedural schedule listed
below is hereby adopted.
4. Pursuant to 39 U.S.C. 505, Kenneth
E. Richardson is designated officer of
the Commission (Public Representative)
to represent the interests of the general
public.
5. The Secretary shall arrange for
publication of this notice and order in
the Federal Register.
By the Commission.
Shoshana M. Grove,
Secretary.
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Federal Register / Vol. 76, No. 187 / Tuesday, September 27, 2011 / Notices
PROCEDURAL SCHEDULE
September 16, 2011 ............
October 3, 2011 ...................
September 30, 2011 ............
October 17, 2011 .................
October 21, 2011 .................
November 10, 2011 .............
November 25, 2011 .............
December 2, 2011 ...............
January 9, 2012 ...................
Filing of Appeal.
Deadline for the Postal Service to file the applicable administrative record in this appeal.
Deadline for the Postal Service to file any responsive pleading.
Deadline for notices to intervene (see 39 CFR 3001.111(b)).
Deadline for Petitioner’s Form 61 or initial brief in support of petition (see 39 CFR 3001.115(a) and (b)).
Deadline for answering brief in support of the Postal Service (see 39 CFR 3001.115(c)).
Deadline for reply briefs in response to answering briefs (see 39 CFR 3001.115(d)).
Deadline for motions by any party requesting oral argument; the Commission will schedule oral argument only
when it is a necessary addition to the written filings (see 39 CFR 3001.116).
Expiration of the Commission’s 120-day decisional schedule (see 39 U.S.C. 404(d)(5)).
which have been prepared primarily by
OCC. The Commission is publishing
this notice to solicit comments on
Amendment No. 1 to the proposed rule
change from interested persons.
[FR Doc. 2011–24709 Filed 9–26–11; 8:45 am]
BILLING CODE 7710–FW–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–65370; File No. SR–OCC–
2011–08]
Self-Regulatory Organizations;
Options Clearing Corporation; Notice
of Filing of Amendment No. 1 to
Proposed Rule Change To Provide
Specific Authority To Use an Auction
Process as One of the Means To
Liquidate a Defaulting Clearing
Member’s Accounts
September 21, 2011.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder 2
notice is hereby given that on July 14,
2011, The Options Clearing Corporation
(‘‘OCC’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change. The proposed
rule change was published for comment
in the Federal Register on August 3,
2011.3 On September 15, 2011, OCC
filed Amendment No. 1 to the proposed
rule change.4 The proposed rule change
as amended by Amendment No. 1 is
described in Items I, II, and III below,
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Securities Exchange Act Release No. 64982 (July
28, 2011), 76 FR 46867 (August 3, 2011).
4 The proposed rule change as originally filed
would revise OCC Rule 1104 (margins deposited
and contributions to the Clearing Fund) to clarify
that the auction process is one way to liquidate a
defaulting members accounts with respect to
positions and collateral in a defaulting member’s
accounts. Amendment No. 1 to the proposed rule
change would also revise OCC Rule 1106 (open
positions of a suspended clearing member) in a
similar manner. Accordingly, as amended, the
proposed rule change would clarify that the auction
process is one way to liquidate a defaulting
members accounts with respect to positions and
collateral in a defaulting member’s accounts under
both OCC Rule 1104 and OCC Rule 1106.
Telephone conference between Stephen Szarmack,
Vice President and Associate General Counsel,
OCC, and Pamela Kesner, Special Counsel,
Securities and Exchange Commission Division of
Trading and Markets, on September 20, 2011.
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I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The purpose of the proposed rule
change is to provide OCC specific
authority to use an auction process as
one of the means to liquidate a
defaulting clearing member’s accounts5.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
OCC included statements concerning
the purpose of and basis for the
proposed rule change and discussed any
comments it received on the proposed
rule change. The text of these statements
may be examined at the places specified
in Item IV below. OCC has prepared
summaries, set forth in sections (A), (B),
and (C) below, of the most significant
aspects of these statements.
(A) Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
The purpose of this rule change is to
revise OCC’s rules to provide specific
authority for OCC to use an auction
process as one of the possible means by
which OCC may liquidate a defaulting
clearing member’s accounts. An auction
is likely to be the most efficient and
orderly procedure practicable for
closing out clearing member portfolios
in some circumstances.
5 The proposed rule change amends OCC Rules
1104 and 1106, which allow for liquidation upon
the suspension of a clearing member. OCC Rule
1102 permits the Board of Directors or Chairman of
OCC to suspend clearing members under a number
of circumstances, including clearing member
default. Telephone conference between Stephen
Szarmack, Vice President and Associate General
Counsel, OCC, and Pamela Kesner, Special Counsel,
Securities and Exchange Commission Division of
Trading and Markets, on September 20, 2011.
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The liquidation of open long and
short positions through exchange
transactions is an obvious means of
closing out the positions of a defaulting
member. However, auctions are
increasingly viewed as an efficient and
cost effective alternative for liquidating
some or all of a clearing member’s
positions and collateral, especially
where the positions are very large or in
unstable market conditions. As
compared to liquidating positions
through exchange transactions, an
auction may usually be expected to
result in a shorter liquidation period
and reduced execution risk. During
Lehman Brothers Holdings Inc.’s
liquidation, clearinghouses such as
LCH.Clearnet and CME Clearing
liquidated certain derivatives positions
through auctions.
Chapter XI of OCC’s Rules, which
governs the liquidation of a clearing
member’s accounts in the event of an
insolvency, provides that margins
deposited with the Corporation,
contributions to the Clearing Fund and
open positions of a suspended clearing
member must be closed by OCC ‘‘in the
most orderly manner practicable.’’
While OCC and its counsel believe that
this language is broad enough to
authorize a private auction, i.e., an
auction limited to selected bidders, as a
means of closing out open positions,
OCC also believes that explicit
authorization for a private auction
procedure could reduce the likelihood
of a legal challenge should such a
procedure be utilized.
The proposed change to OCC’s rules
is consistent with Section 17A of the
Act, as amended (the ‘‘Exchange Act’’),
because it is designed to promote the
prompt and accurate clearance and
settlement of security transactions, and
generally protect investors and the
public interest, by making more explicit
OCC’s ability to use an auction
procedure to liquidate a defaulting
clearing member’s accounts. The
proposed rule change is not inconsistent
with the existing rules of OCC,
including any other rules proposed to be
amended.
E:\FR\FM\27SEN1.SGM
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]]>Agencies
[Federal Register Volume 76, Number 187 (Tuesday, September 27, 2011)]
[Notices]
[Pages 59749-59750]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-24709]
=======================================================================
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POSTAL REGULATORY COMMISSION
[Docket No. A2011-77; Order No. 866]
Post Office Closing
AGENCY: Postal Regulatory Commission.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This document informs the public that an appeal of the closing
of the Martinsburg, New York post office has been filed. It identifies
preliminary steps and provides a procedural schedule. Publication of
this document will allow the Postal Service, petitioner, and others to
take appropriate action.
DATES: Administrative record due (from Postal Service): October 3,
2011; deadline for notices to intervene: October 17, 2011. See the
Procedural Schedule in the SUPPLEMENTARY INFORMATION section for other
dates of interest.
ADDRESSES: Submit comments electronically by accessing the ``Filing
Online'' link in the banner at the top of the Commission's Web site
(https://www.prc.gov) or by directly accessing the Commission's Filing
Online system at https://www.prc.gov/prc-pages/filing-online/login.aspx. Commenters who cannot submit their views electronically
should contact the person identified in the FOR FURTHER INFORMATION
CONTACT section as the source for case-related information for advice
on alternatives to electronic filing.
FOR FURTHER INFORMATION CONTACT: Stephen L. Sharfman, General Counsel,
at 202-789-6820 (case-related information) or DocketAdmins@prc.gov
(electronic filing assistance).
SUPPLEMENTARY INFORMATION: Notice is hereby given that, pursuant to 39
U.S.C. 404(d), on September 16, 2011, the Commission received a
petition for review of the Postal Service's determination to close the
Martinsburg post office in Martinsburg, New York. The petition was
filed by the Citizens of Martinsburg (Petitioner) and is postmarked
September 9, 2011. The Commission hereby institutes a proceeding under
39 U.S.C. 404(d)(5) and establishes Docket No. A2011-77 to consider
Petitioner's appeal. If Petitioner would like to further explain its
position with supplemental information or facts, Petitioner may either
file a Participant Statement on PRC Form 61 or file a brief with the
Commission no later than October 21, 2011.
Categories of issues apparently raised. Petitioner contends that
the Postal Service failed to adequately consider the economic savings
resulting from the closure. See 39 U.S.C. 404(d)(2)(A)(iv).
After the Postal Service files the administrative record and the
Commission reviews it, the Commission may find that there are more
legal issues than the one set forth above, or that the Postal Service's
determination disposes of one or more of those issues. The deadline for
the Postal Service to file the applicable administrative record with
the Commission is October 3, 2011. See 39 CFR 3001.113. In addition,
the due date for any responsive pleading by the Postal Service to this
Notice is October 3, 2011.
Availability; Web site posting. The Commission has posted the
appeal and supporting material on its Web site at https://www.prc.gov.
Additional filings in this case and participants' submissions also will
be posted on the Commission's Web site, if provided in electronic
format or amenable to conversion, and not subject to a valid protective
order. Information on how to use the Commission's Web site is available
online or by contacting the Commission's webmaster via telephone at
202-789-6873 or via electronic mail at prc-webmaster@prc.gov.
The appeal and all related documents are also available for public
inspection in the Commission's docket section. Docket section hours are
8 a.m. to 4:30 p.m., eastern time, Monday through Friday, except on
Federal government holidays. Docket section personnel may be contacted
via electronic mail at prc-dockets@prc.gov or via telephone at 202-789-
6846.
Filing of documents. All filings of documents in this case shall be
made using the Internet (Filing Online) pursuant to Commission rules
9(a) and 10(a) at the Commission's Web site, https://www.prc.gov, unless
a waiver is obtained. See 39 CFR 3001.9(a) and 3001.10(a). Instructions
for obtaining an account to file documents online may be found on the
Commission's Web site or by contacting the Commission's docket section
at prc-dockets@prc.gov or via telephone at 202-789-6846.
The Commission reserves the right to redact personal information
which may infringe on an individual's privacy rights from documents
filed in this proceeding.
Intervention. Persons, other than Petitioner and respondent,
wishing to be heard in this matter are directed to file a notice of
intervention. See 39 CFR 3001.111(b). Notices of intervention in this
case are to be filed on or before October 17, 2011. A notice of
intervention shall be filed using the Internet (Filing Online) at the
Commission's Web site unless a waiver is obtained for hardcopy filing.
See 39 CFR 3001.9(a) and 3001.10(a).
Further procedures. By statute, the Commission is required to issue
its decision within 120 days from the date it receives the appeal. See
39 U.S.C. 404(d)(5). A procedural schedule has been developed to
accommodate this statutory deadline. In the interest of expedition, in
light of the 120-day decision schedule, the Commission may request the
Postal Service or other participants to submit information or memoranda
of law on any appropriate issue. As required by the Commission rules,
if any motions are filed, responses are due 7 days after any such
motion is filed. See 39 CFR 3001.21.
It is ordered:
1. The Postal Service shall file the applicable administrative
record regarding this appeal no later than October 3, 2011.
2. Any responsive pleading by the Postal Service to this Notice is
due no later than October 3, 2011.
3. The procedural schedule listed below is hereby adopted.
4. Pursuant to 39 U.S.C. 505, Kenneth E. Richardson is designated
officer of the Commission (Public Representative) to represent the
interests of the general public.
5. The Secretary shall arrange for publication of this notice and
order in the Federal Register.
By the Commission.
Shoshana M. Grove,
Secretary.
[[Page 59750]]
Procedural Schedule
------------------------------------------------------------------------
September 16, 2011 Filing of Appeal.
------------------------------------------------------------------------
September 16, 2011........... Filing of Appeal.
October 3, 2011.............. Deadline for the Postal Service to file
the applicable administrative record in
this appeal.
September 30, 2011........... Deadline for the Postal Service to file
any responsive pleading.
October 17, 2011............. Deadline for notices to intervene (see 39
CFR 3001.111(b)).
October 21, 2011............. Deadline for Petitioner's Form 61 or
initial brief in support of petition
(see 39 CFR 3001.115(a) and (b)).
November 10, 2011............ Deadline for answering brief in support
of the Postal Service (see 39 CFR
3001.115(c)).
November 25, 2011............ Deadline for reply briefs in response to
answering briefs (see 39 CFR
3001.115(d)).
December 2, 2011............. Deadline for motions by any party
requesting oral argument; the Commission
will schedule oral argument only when it
is a necessary addition to the written
filings (see 39 CFR 3001.116).
January 9, 2012.............. Expiration of the Commission's 120-day
decisional schedule (see 39 U.S.C.
404(d)(5)).
------------------------------------------------------------------------
[FR Doc. 2011-24709 Filed 9-26-11; 8:45 am]
BILLING CODE 7710-FW-P
