New York Disaster #NY-00159, 26130 [2015-10523]
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Federal Register / Vol. 80, No. 87 / Wednesday, May 6, 2015 / Notices
the same long-run and short-fun factor
components as the two-factor model and
adds a seasonality factor. Using
historical data, OCC asserts that Energy
Futures contracts, except for Energy
Futures contracts on Brent Crude Oil
and WTI Crude Oil, experience
seasonality.17 To address seasonality,
OCC will employ a trigonometric
function,18 which it states will capture
price dynamics in different seasons.
OCC stated its belief that the proposed
enhancements to STANS are
appropriately designed to support the
clearance and settlement of Energy
Futures contracts, based on model back
testing results. Moreover, OCC asserts
that the Energy Futures contracts are not
new or novel contracts, and that the
clearance and settlement of Energy
Futures contracts will not present
material risk to OCC.19
Schedule C to the Clearing Agreement
Pursuant to approved rule change
2015–OCC–03, OCC added a Schedule C
to the Clearing Agreement to support
the clearance and settlement of Energy
Futures contracts and options on Energy
Futures. Pursuant to the Clearing
Agreement between OCC and NFX, OCC
has agreed to clear the specifically
enumerated contracts and may agree to
clear and settle additional types of
contracts should both parties execute a
new Schedule C to the Clearing
Agreement. This was necessary because
Energy Futures contracts and options on
Energy Futures were not enumerated in
either the Previous Agreement, or in any
existing Schedule C to the Previous
Agreement. The approved rule change
adds this new Schedule C to allow OCC
to provide for the clearance and
settlement of Energy Futures contracts
and options on Energy Futures.
tkelley on DSK3SPTVN1PROD with NOTICES
II. Discussion and Commission
Findings
Section 19(b)(2)(C) of the Act 20
directs the Commission to approve a
proposed rule change of a selfregulatory organization if it finds that
the proposed rule change is consistent
with the requirements of the Act and the
seasonal behavior of natural gas prices,’’ European
Financial Management, vol. 18, pp. 410–443.
17 OCC provides that this is due to the lack of
low-cost transportation and limited, or no ability to
store the commodity.
18 See note 14 supra.
19 OCC provides that cleared futures contracts
account for less than two percent of its total overall
volume and, in 2011, OCC cleared 1,388 contracts
traded on NFX. In 2012, OCC cleared 518,360
contracts traded on NFX (NFX did not have any
cleared futures contract volume in 2013 and 2014).
By way of reference, OCC’s average daily cleared
contract volume in through February 19, 2015, is 17
million contracts.
20 15 U.S.C. 78s(b)(2)(C).
VerDate Sep<11>2014
18:43 May 05, 2015
Jkt 235001
rules and regulations thereunder
applicable to such organization. The
Commission finds that the proposed
rule change is consistent with Section
17A(b)(3)(F) of the Act 21 because it
assures the safeguarding of securities
and funds in the custody and control of
OCC and permits OCC to risk manage
Energy Futures contracts and options on
Energy Futures through appropriate risk
models as described above. Such risk
models should reduce the risk that
clearing members’ margin assets will be
insufficient in the event that OCC needs
such assets to close-out the positions of
a defaulted clearing member and, in
turn also help protect investors and the
public interest. Furthermore, the
proposed rule change is also consistent
with Rule 17Ad–22(b)(2) under the
Act,22 because it will allow OCC to
implement risk-based models and
parameters to set margin requirements
for clearing members who trade Energy
Futures contracts and Energy Futures
Options.
III. 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 23 and the rules and regulations
thereunder.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,24 that the
proposed rule change (SR–OCC–2015–
006) be, and it hereby is, approved.
Incident: Building Fire and Explosion.
Incident Period: 03/26/2015.
Effective Date: 04/28/2015.
Physical Loan Application Deadline
Date: 06/29/2015.
Economic Injury (EIDL) Loan
Application Deadline Date: 01/28/2016.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing And
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW., Suite 6050,
Washington, DC 20416.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
Administrator’s disaster declaration,
applications for disaster loans may be
filed at the address listed above or other
locally announced locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: New York.
Contiguous Counties:
New York: Bronx, Kings, Queens.
New Jersey: Bergen, Hudson.
The Interest Rates are:
Percent
AGENCY:
For Physical Damage:
Homeowners With Credit Available Elsewhere ......................
Homeowners Without Credit
Available Elsewhere ..............
Businesses With Credit Available Elsewhere ......................
Businesses
Without
Credit
Available Elsewhere ..............
Non-Profit Organizations With
Credit Available Elsewhere ...
Non-Profit Organizations Without Credit Available Elsewhere .....................................
For Economic Injury:
Businesses & Small Agricultural
Cooperatives Without Credit
Available Elsewhere ..............
Non-Profit Organizations Without Credit Available Elsewhere .....................................
This is a notice of an
Administrative declaration of a disaster
for the State of New York dated 04/28/
2015.
The number assigned to this disaster
for physical damage is 14289 4 and for
economic injury is 14290 0.
The States which received an EIDL
Declaration # are New York and New
Jersey.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.25
Brent J. Fields,
Secretary.
[FR Doc. 2015–10504 Filed 5–5–15; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #14289 and #14290]
New York Disaster #NY–00159
U.S. Small Business
Administration.
ACTION: Notice.
SUMMARY:
21 15
U.S.C. 78q–1(b)(3)(F).
CFR 240.17Ad–22(b)(2).
23 In approving this proposed rule change, the
Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
24 15 U.S.C. 78s(b)(2).
25 17 CFR 200.30–3(a)(12).
22 17
PO 00000
Frm 00136
Fmt 4703
Sfmt 9990
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
Dated: April 28, 2015.
Maria Contreras-Sweet,
Administrator.
[FR Doc. 2015–10523 Filed 5–5–15; 8:45 am]
BILLING CODE 8025–01–P
E:\FR\FM\06MYN1.SGM
06MYN1
3.625
1.813
6.000
4.000
2.625
2.625
4.000
2.625
]]>Agencies
[Federal Register Volume 80, Number 87 (Wednesday, May 6, 2015)]
[Notices]
[Page 26130]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-10523]
=======================================================================
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #14289 and #14290]
New York Disaster #NY-00159
AGENCY: U.S. Small Business Administration.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This is a notice of an Administrative declaration of a
disaster for the State of New York dated 04/28/2015.
Incident: Building Fire and Explosion.
Incident Period: 03/26/2015.
Effective Date: 04/28/2015.
Physical Loan Application Deadline Date: 06/29/2015.
Economic Injury (EIDL) Loan Application Deadline Date: 01/28/2016.
ADDRESSES: Submit completed loan applications to: U.S. Small Business
Administration, Processing And Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster
Assistance, U.S. Small Business Administration, 409 3rd Street SW.,
Suite 6050, Washington, DC 20416.
SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of
the Administrator's disaster declaration, applications for disaster
loans may be filed at the address listed above or other locally
announced locations.
The following areas have been determined to be adversely affected
by the disaster:
Primary Counties: New York.
Contiguous Counties:
New York: Bronx, Kings, Queens.
New Jersey: Bergen, Hudson.
The Interest Rates are:
------------------------------------------------------------------------
Percent
------------------------------------------------------------------------
For Physical Damage: .........
Homeowners With Credit Available Elsewhere................. 3.625
Homeowners Without Credit Available Elsewhere.............. 1.813
Businesses With Credit Available Elsewhere................. 6.000
Businesses Without Credit Available Elsewhere.............. 4.000
Non-Profit Organizations With Credit Available Elsewhere... 2.625
Non-Profit Organizations Without Credit Available Elsewhere 2.625
For Economic Injury:
Businesses & Small Agricultural Cooperatives Without Credit 4.000
Available Elsewhere.......................................
Non-Profit Organizations Without Credit Available Elsewhere 2.625
------------------------------------------------------------------------
The number assigned to this disaster for physical damage is 14289 4
and for economic injury is 14290 0.
The States which received an EIDL Declaration # are New York and
New Jersey.
(Catalog of Federal Domestic Assistance Numbers 59002 and 59008)
Dated: April 28, 2015.
Maria Contreras-Sweet,
Administrator.
[FR Doc. 2015-10523 Filed 5-5-15; 8:45 am]
BILLING CODE 8025-01-P
