Post Office Closing, 59749-59750 [2011-24709]

Download as PDF Federal Register / Vol. 76, No. 187 / Tuesday, September 27, 2011 / Notices accommodation will be made on a caseby-case basis. * * * * * 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 mstockstill on DSK4VPTVN1PROD with NOTICES ADDRESSES: VerDate Mar<15>2010 16:35 Sep 26, 2011 Jkt 223001 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) PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 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. E:\FR\FM\27SEN1.SGM 27SEN1 59750 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. mstockstill on DSK4VPTVN1PROD with NOTICES 2 17 VerDate Mar<15>2010 16:35 Sep 26, 2011 Jkt 223001 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. PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 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 27SEN1

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]


=======================================================================
-----------------------------------------------------------------------

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