Sunshine Act Meeting., 29162-29163 [2013-11963]

Download as PDF 29162 Federal Register / Vol. 78, No. 96 / Friday, May 17, 2013 / Notices VI. Backfitting and Issue Finality This endorsement letter does not constitute backfitting as defined in 10 CFR 50.109, ‘‘Backfitting’’ (the Backfit Rule). This endorsement letter provides additional guidance on an acceptable method for implementing the interim actions described in item (6) of the Requested Information in Enclosure 1, ‘‘Recommendation 2.1: Seismic,’’ of the 50.54(f) letter. Licensees and construction permit holders may voluntarily use the guidance in the EPRI Guidance to comply with the requested interim action portion of the 50.54(f) letter. Methods, analyses, or solutions that differ from those described in the EPRI Guidance report may be deemed acceptable if they provide sufficient basis and information for the NRC staff to verify that the proposed alternative is acceptable. VII. Congressional Review Act This endorsement letter is a rule as designated in the Congressional Review Act (5 U.S.C. 801–808). The Office of Management and Budget has found that this is a major rule in accordance with the Congressional Review Act. Dated at Rockville, Maryland, this 7th day of May 2013. For the Nuclear Regulatory Commission. Eric J. Leeds, Director, Office of Nuclear Reactor Regulation. [FR Doc. 2013–11847 Filed 5–16–13; 8:45 am] BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request wreier-aviles on DSK5TPTVN1PROD with NOTICES Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 19b–4(e) and Form 19b–4(e); SEC File No. 270–447; OMB Control No. 3235–0504. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (OMB) a request for approval of extension of the previously approved collection of information provided for in Rule 19b–4(e) (17 CFR 240.19b–4(e)) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (the ‘‘Act’’). VerDate Mar<15>2010 15:20 May 16, 2013 Jkt 229001 Rule 19b–4(e) permits a selfregulatory organization (‘‘SRO’’) to list and trade a new derivative securities product without submitting a proposed rule change pursuant to Section 19(b) of the Act (15 U.S.C. 78s(b)), so long as such product meets the criteria of Rule 19b–4(e) under the Act. However, in order for the Commission to maintain an accurate record of all new derivative securities products traded on the SROs, Rule 19b–4(e) requires an SRO to file a summary form, Form 19b–4(e), to notify the Commission when the SRO begins trading a new derivative securities product that is not required to be submitted as a proposed rule change to the Commission. Form 19b–4(e) should be submitted within five business days after an SRO begins trading a new derivative securities product that is not required to be submitted as a proposed rule change. In addition, Rule 19b–4(e) requires an SRO to maintain, on-site, a copy of Form 19b–4(e) for a prescribed period of time. This collection of information is designed to allow the Commission to maintain an accurate record of all new derivative securities products traded on the SROs that are not deemed to be proposed rule changes and to determine whether an SRO has properly availed itself of the permission granted by Rule 19b–4(e). The Commission reviews SRO compliance with Rule 19b–4(e) through its routine inspections of the SROs. The respondents to the collection of information are SROs (as defined by the Act), all of which are national securities exchanges. As of March 2013, there are seventeen entities registered as national securities exchanges with the Commission. The Commission receives an average total of 3,879 responses per year, which corresponds to an estimated annual response burden of 3,879 hours. At an average hourly cost of $63, the aggregate related cost of compliance with Rule 19b–4(e) is $244,377 (3,879 burden hours multiplied by $63/hour). Compliance with Rule 19b–4(e) is mandatory. Information received in response to Rule 19b–4(e) shall not be kept confidential; the information collected is public information. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following Web site, www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and PO 00000 Frm 00052 Fmt 4703 Sfmt 4703 Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: May 14, 2013. Elizabeth M. Murphy, Secretary. [FR Doc. 2013–11784 Filed 5–16–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting. 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 a Closed Meeting on Thursday, May 23, 2013 at 2:00 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters also may be present. The General Counsel of the Commission, or her designee, has certified that, in her 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 Meeting. Commissioner Aguilar, as duty officer, voted to consider the items listed for the Closed Meeting in a closed session. The subject matter of the Closed Meeting will be: Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings; and Other matters relating to enforcement proceedings. 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. E:\FR\FM\17MYN1.SGM 17MYN1 Federal Register / Vol. 78, No. 96 / Friday, May 17, 2013 / Notices Dated: May 15, 2013. Elizabeth M. Murphy, Secretary. [FR Doc. 2013–11963 Filed 5–15–13; 4:15 pm] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–69564; File No. SR–CME– 2013–06] Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change Regarding an Expansion of CME Clearing’s Category 3 Collateral Limits May 13, 2013. 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 May 3, 2013, Chicago Mercantile Exchange Inc. (‘‘CME’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change described in Items I and II, below, which Items have been prepared primarily by CME. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons and to approve the proposed rule change on an accelerated basis. wreier-aviles on DSK5TPTVN1PROD with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change CME proposes to issue the text copied below via a Clearing Advisory Notice to announce changes relating to the maximum limits for ‘‘Category 3’’ collateral (as specified on CME’s Web site) effective as of May 10, 2013. This text is also available at CME’s Web site at https://www.cmegroup.com, at the principal office of CME, and at the Commission’s Public Reference Room. The text is: As per the normal review of acceptable collateral and limits, CME Clearing is making the below change regarding the clearing member firm maximum limit for Category 3 collateral. The change is pending all regulatory review periods. Collateral accepted by CME Clearing is categorized as noted below. Currently, the maximum allowable limit for utilization of Category 3 Assets is the lesser of a) 40% of core margin requirements and concentration requirements per origin and asset account or b) $3 billion per Clearing Member Firm across all settlement accounts. Effective with the RTH cycle on Friday, May 10, 2013, the maximum allowable limit 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Mar<15>2010 15:20 May 16, 2013 Jkt 229001 for utilization of Category 3 Assets will be the lesser of a) 40% of core margin requirements and concentration requirements per origin and asset account or b) $5 billion per Clearing Member Firm across all settlement accounts. Category 1 assets have no requirement type limits. Category 2 assets have a maximum allowable limit of 40% of core margin requirements and concentration requirements per Clearing Member Firm across all settlement accounts. Please refer to the Web site link below for details on individual asset type limits and product class restrictions. Category 1 Assets: • U.S. Cash • U.S. Treasuries • IEF2 Money Market Fund Program Category 2 Assets: • U.S. Government Agencies • Select Mortgage Backed Securities • IEF5 Specialized Cash Program • Letters of Credit Category 3 Assets: • Foreign Sovereign Debt (sub-limit of $1 billion per clearing member firm) • Gold (sub-limit of $500 million per clearing member firm) • IEF4 Specialized Collateral Program • Stocks • TIPS (sub-limit of $1 billion per clearing member firm) Please call CME Clearing for availability of Foreign Cash deposits. Please refer to the Web site https:// www.cmegroup.com/clearing/financial-andcollateral-management/ for further detail regarding acceptable collateral, haircuts, and limits. For questions about requirements, please call Risk Management hotline at 312– 634–3888 and questions about collateral can be directed to the Financial Unit hotline at 312–207–2594. * * * * * II. Self-Regulatory Organizations Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, CME included statements concerning the purpose 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 III below. CME has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change As a derivatives clearing organization (‘‘DCO’’) registered with the Commodity Futures Trading Commission (‘‘CFTC’’), CME periodically reviews the acceptable collateral and limits associated with its clearing business. The changes announced in the Clearing PO 00000 Frm 00053 Fmt 4703 Sfmt 4703 29163 Notice are part of this normal process. The changes relate to the maximum limit for certain ‘‘Category 3’’ collateral as specified on CME’s Web site. Currently, the maximum allowable limit for utilization of the Category 3 Assets is the lesser of (a) 40% of core margin requirements and concentration requirements per origin and asset account or (b) $3 billion per Clearing Member Firm across all settlement accounts. The Notice would announce that, effective on Friday, May 10, 2013, the maximum allowable limit for utilization of Category 3 Assets will become the lesser of (a) 40% of core margin requirements and concentration requirements per origin and asset account or (b) $5 billion per Clearing Member Firm across all settlement accounts. The purpose of the change is to increase the flexibility of CME clearing members to post additional Category 3 collateral in anticipation of an increase to the amount of initial margin posted at CME due to the CFTC’s impending June 11, 2013 clearing mandate effective date. Although the changes could impact the makeup of the collateral used by any particular clearing member to meet its margin requirements, the changes would have no impact on the level of margin collected.3 Further, the changes will have no impact at all on the collection of margin in relation to CME’s CDS clearing offering, because the CDS business has separate requirements that apply in particular to posting collateral in connection with CDS activities. The Notice would not change those separate CDS-specific requirements. CME notes that it has also submitted the proposed rule changes that are the subject of this filing to its primary regulator, the CFTC, in CME Submission 13–155. CME believes the proposed rule change is consistent with the requirements of the Exchange Act, including Section 17A of the Act.4 Specifically, CME believes the changes are consistent with Section 17A(b)(3)(F) 3 Historically, CME has aligned the size of its committed liquidity facility with the amount of Category 3 assets it was willing to accept as collateral. For example, in 2012 CME’s committed liquidity facility was $3 billion and the amount of Category 3 collateral it accepted was also $3 billion. CME increased its committed liquidity facility and obtained a $5 billion liquidity facility for 2013. When CME increased its liquidity facility it did not immediately increase its Category 3 collateral limits in tandem. CME now plans to increase the limits on its acceptance of Category 3 collateral in advance of the Category 2 clearing mandate. Since CME already increased its committed liquidity facility to $5 billion, this change does not impact its overall risk profile. 4 15 U.S.C. 78q–1. E:\FR\FM\17MYN1.SGM 17MYN1

Agencies

[Federal Register Volume 78, Number 96 (Friday, May 17, 2013)]
[Notices]
[Pages 29162-29163]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-11963]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting.

    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 a Closed Meeting on Thursday, May 23, 
2013 at 2:00 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the Closed Meeting. 
Certain staff members who have an interest in the matters also may be 
present.
    The General Counsel of the Commission, or her designee, has 
certified that, in her 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 Meeting.
    Commissioner Aguilar, as duty officer, voted to consider the items 
listed for the Closed Meeting in a closed session.
    The subject matter of the Closed Meeting will be:

Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings; and
Other matters relating to enforcement proceedings.

    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.


[[Page 29163]]


     Dated: May 15, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-11963 Filed 5-15-13; 4:15 pm]
BILLING CODE 8011-01-P