Product Change-First-Class Package Service Negotiated Service Agreement, 65591-65592 [2012-26463]

Download as PDF rmajette on DSK2TPTVN1PROD with Federal Register / Vol. 77, No. 209 / Monday, October 29, 2012 / Notices Request has been assigned Docket No. MC2013–9. The Postal Service contemporaneously filed a redacted contract related to the proposed new product under 39 U.S.C. 3632(b)(3) and 39 CFR 3015.5. Id. Attachment B. The instant contract has been assigned Docket No. CP2013–9. Request. To support its Request, the Postal Service filed six attachments as follows: • Attachment A—a redacted copy of Governors’ Decision No. 11–6, authorizing the new product; • Attachment B—a redacted copy of the contract; • Attachment C—proposed changes to the Mail Classification Schedule competitive product list with the addition underlined; • Attachment D—a Statement of Supporting Justification as required by 39 CFR 3020.32; • Attachment E—a certification of compliance with 39 U.S.C. 3633(a); and • Attachment F—an application for non-public treatment of materials to maintain redacted portions of the contract and related financial information under seal. In the Statement of Supporting Justification, Dennis R. Nicoski, Manager, Field Sales Strategy and Contracts, asserts that the contract will cover its attributable costs, make a positive contribution to covering institutional costs, and increase contribution toward the requisite 5.5 percent of the Postal Service’s total institutional costs. Id. Attachment D at 1. Mr. Nicoski contends that there will be no issue of market dominant products subsidizing competitive products as a result of this contract. Id. Related contract. The Postal Service included a redacted version of the related contract with the Request. Id. Attachment B. The contract is scheduled to become effective on the day that the Commission issues all regulatory approvals. Id. at 2. The contract will expire 3 years from the effective date unless, among other things, either party terminates the agreement upon 30 days’ written notice to the other party. Id. The Postal Service represents that the contract is consistent with 39 U.S.C. 3633(a). Id. Attachment D. The Postal Service filed much of the supporting materials, including the related contract, under seal. Id. Attachment F. It maintains that the redacted portions of the contract, customer-identifying information, and related financial information, should remain confidential. Id. at 3. This information includes the price structure, VerDate Mar<15>2010 13:18 Oct 26, 2012 Jkt 229001 underlying costs and assumptions, pricing formulas, information relevant to the customer’s mailing profile, and cost coverage projections. Id. The Postal Service asks the Commission to protect customer-identifying information from public disclosure indefinitely. Id. at 7. II. Notice of Filings The Commission establishes Docket Nos. MC2013–9 and CP2013–9 to consider the Request pertaining to the proposed First-Class Package Service Contract 22 product and the related contract, respectively. 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, 39 CFR 3015.5, and 39 CFR part 3020, subpart B. Comments are due no later than November 1, 2012. The public portions of these filings can be accessed via the Commission’s Web site (https:// www.prc.gov). The Commission appoints James F. Callow to serve as Public Representative in these dockets. III. Ordering Paragraphs It is ordered: 1. The Commission establishes Docket Nos. MC2013–9 and CP2013–9 to consider the matters raised in each docket. 2. Pursuant to 39 U.S.C. 505, James F. Callow is appointed to serve as an 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 November 1, 2012. 4. The Secretary shall arrange for publication of this order in the Federal Register. By the Commission. Shoshana M. Grove, Secretary. [FR Doc. 2012–26475 Filed 10–26–12; 8:45 am] BILLING CODE 7710–FW–P 65591 Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Effective date: October 29, 2012. FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on October 22, 2012, it filed with the Postal Regulatory Commission a Request of the United States Postal Service to Add First-Class Package Service Contract 24 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2013–11, CP2013–11. Stanley F. Mires, Attorney, Legal Policy & Legislative Advice. [FR Doc. 2012–26460 Filed 10–26–12; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—First-Class Package Service Negotiated Service Agreement Postal ServiceTM. Notice. AGENCY: ACTION: The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Effective date: October 29, 2012. FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on October 22, 2012, it filed with the Postal Regulatory Commission a Request of the United States Postal Service to Add First-Class Package Service Contract 23 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2013–10, CP2013–10. SUMMARY: Stanley F. Mires, Attorney, Legal Policy & Legislative Advice. [FR Doc. 2012–26461 Filed 10–26–12; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—First-Class Package Service Negotiated Service Agreement POSTAL SERVICE Postal ServiceTM. ACTION: Notice. Product Change—First-Class Package Service Negotiated Service Agreement AGENCY: The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service SUMMARY: PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 Postal ServiceTM. Notice. AGENCY: ACTION: The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a SUMMARY: E:\FR\FM\29OCN1.SGM 29OCN1 65592 Federal Register / Vol. 77, No. 209 / Monday, October 29, 2012 / Notices domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Effective date: October 29, 2012. FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on October 22, 2012, it filed with the Postal Regulatory Commission a Request of the United States Postal Service to Add First-Class Package Service Contract 21 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2013–8, CP2013–8. Stanley F. Mires, Attorney, Legal Policy & Legislative Advice. [FR Doc. 2012–26463 Filed 10–26–12; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—First-Class Package Service Negotiated Service Agreement Postal ServiceTM. ACTION: Notice. AGENCY: The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Effective date: October 29, 2012. FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on October 22, 2012, it filed with the Postal Regulatory Commission a Request of the United States Postal Service to Add First-Class Package Service Contract 22 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2013–9, CP2013–9. SUMMARY: Stanley F. Mires, Attorney, Legal Policy & Legislative Advice. [FR Doc. 2012–26462 Filed 10–26–12; 8:45 am] BILLING CODE 7710–12–P rmajette on DSK2TPTVN1PROD with SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request Copies Available From: Securities and Exchange VerDate Mar<15>2010 13:18 Oct 26, 2012 Jkt 229001 Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213 Extension: Rule 22e–3, OMB Control No. 3235–0658, SEC File No. 270–603. Notice is hereby given that, under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), 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. Section 22(e) of the Investment Company Act [15 U.S.C. 80a–22(e)] (‘‘Act’’) generally prohibits funds, including money market funds, from suspending the right of redemption, and from postponing the payment or satisfaction upon redemption of any redeemable security for more than seven days. The provision was designed to prevent funds and their investment advisers from interfering with the redemption rights of shareholders for improper purposes, such as the preservation of management fees. Although section 22(e) permits funds to postpone the date of payment or satisfaction upon redemption for up to seven days, it does not permit funds to suspend the right of redemption for any amount of time, absent certain specified circumstances or a Commission order. Rule 22e–3 under the Act [17 CFR 270.22e–3] exempts money market funds from section 22(e) to permit them to suspend redemptions in order to facilitate an orderly liquidation of the fund. Specifically, rule 22e–3 permits a money market fund to suspend redemptions and postpone the payment of proceeds pending board-approved liquidation proceedings if: (i) The fund’s board of directors, including a majority of disinterested directors, determines pursuant to § 270.2a–7(c)(8)(ii)(C) that the extent of the deviation between the fund’s amortized cost price per share and its current net asset value per share calculated using available market quotations (or an appropriate substitute that reflects current market conditions) may result in material dilution or other unfair results to investors or existing shareholders; (ii) the fund’s board of directors, including a majority of disinterested directors, irrevocably approves the liquidation of the fund; and (iii) the fund, prior to suspending redemptions, notifies the Commission of its decision to liquidate and suspend redemptions. Rule 22e–3 also provides an exemption from section 22(e) for registered investment companies that own shares of a money market fund PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 pursuant to section 12(d)(1)(E) of the Act (‘‘conduit funds’’), if the underlying money market fund has suspended redemptions pursuant to the rule. A conduit fund that suspend redemptions in reliance on the exemption provided by rule 22e–3 is required to provide prompt notice of the suspension of redemptions to the Commission. Notices required by the rule must be provided by electronic mail, directed to the attention of the Director of the Division of Investment Management or the Director’s designee.1 Compliance with the notification requirement is mandatory for money market funds and conduit funds that rely on rule 22e–3 to suspend redemptions and postpone payment of proceeds pending a liquidation, and are not kept confidential. Commission staff estimates that, on average, one money market fund would break the buck and liquidate every six years.2 In addition, Commission staff estimate that there are an average of two conduit funds that may be invested in a money market fund that breaks the buck.3 Commission staff further estimate that a money market fund or conduit fund would spend approximately one hour of an in-house attorney’s time to prepare and submit the notice required by the rule. Given these estimates, the total annual burden of the notification requirement of rule 22e–3 for all money market funds and conduit funds would be approximately 30 minutes,4 at a cost of $189.5 The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even 1 See rule 22e–3(a)(3). estimate is based upon the Commission’s experience with the frequency with which money market funds have historically required sponsor support. Although the vast majority of money market fund sponsors have supported their money market funds in times of market distress, for purposes of this estimate Commission staff conversatively estimates that one or more sponsors may not provide support. 3 These estimates are based on a review of filings with the Commission. 4 This estimate is based on the following calculations: (1 hour ÷ 6 years) = 10 minutes per year for each fund and conduit fund that is required to provide notice under the rule. 10 minutes per year × 3 (combined number of affected funds and conduit funds) = 30 minutes. 5 This estimate is based on the following calculation: $378/hour × 30 minutes = $189. The estimated hourly wages used in this PRA analysis were derived from reports prepared by the Securities Industry and Financial Markets Association, modified to account for an 1800-hour work year and multiplied by 5.35 to account for bonuses, firm size, employee benefits and overhead. See Securities Industry and Financial Markets Association, Management & Professional Earnings in the Securities Industry 2011. 2 This E:\FR\FM\29OCN1.SGM 29OCN1

Agencies

[Federal Register Volume 77, Number 209 (Monday, October 29, 2012)]
[Notices]
[Pages 65591-65592]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-26463]


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POSTAL SERVICE


Product Change--First-Class Package Service Negotiated Service 
Agreement

AGENCY: Postal ServiceTM.

ACTION: Notice.

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SUMMARY: The Postal Service gives notice of filing a request with the 
Postal Regulatory Commission to add a

[[Page 65592]]

domestic shipping services contract to the list of Negotiated Service 
Agreements in the Mail Classification Schedule's Competitive Products 
List.

DATES: Effective date: October 29, 2012.

FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202-268-3179.

SUPPLEMENTARY INFORMATION: The United States Postal Service[supreg] 
hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on 
October 22, 2012, it filed with the Postal Regulatory Commission a 
Request of the United States Postal Service to Add First-Class Package 
Service Contract 21 to Competitive Product List. Documents are 
available at www.prc.gov, Docket Nos. MC2013-8, CP2013-8.

Stanley F. Mires,
Attorney, Legal Policy & Legislative Advice.
[FR Doc. 2012-26463 Filed 10-26-12; 8:45 am]
BILLING CODE 7710-12-P