Self-Regulatory Organizations; ICE Clear Credit LLC; Order Approving Proposed Rule Change Relating to the Clearance of Additional Credit Default Swap Contracts, 44473-44474 [2017-20203]
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Federal Register / Vol. 82, No. 183 / Friday, September 22, 2017 / Notices
Comments are encouraged and
will be accepted until November 21,
2017.
DATES:
Interested persons are
invited to submit written comments on
the proposed information collection to
Human Resources Strategy and
Evaluation Solutions, Office of
Personnel Management, 1900 E Street
NW., Washington, DC 20415, Attention:
Coty Hoover, or via email to
Organizational_Assessment@opm.gov.
FOR FURTHER INFORMATION CONTACT: A
copy of this ICR, with applicable
supporting documentation, may be
obtained by contacting Human
Resources Strategy and Evaluation
Solutions, Office of Personnel
Management, 1900 E Street NW.,
Washington, DC 20415, Attention: Coty
Hoover, or via email to Organizational_
Assessment@opm.gov.
SUPPLEMENTARY INFORMATION: As
required by the Paperwork Reduction
Act of 1995, (Pub. L. 104–13, 44 U.S.C.
chapter 35) as amended by the ClingerCohen Act (Pub. L. 104–106), OPM is
soliciting comments for this collection.
The previous collection (OMB No.
3206–0236, published in the Federal
Register on December 26, 2013 at 78 FR
248) has an emergency clearance
(published in the Federal Register on
May 5, 2017 at 82 FR 21273) that
expires January 31, 2018. Comments are
particularly invited on:
ADDRESSES:
1. Whether the proposed collection of
information is necessary for the proper
performance of the functions of the agency,
including whether the information will have
practical utility;
2. Whether our estimate of the public
burden of this collection is accurate, and
based on valid assumptions and
methodology; and
3. Ways in which we can minimize the
burden of the collection of information on
those who are to respond, through the use of
the appropriate technological collection
techniques or other forms of information
technology.
OPM’s Human Resources Strategy and
Evaluation Solutions performs
assessment and related consultation
activities for Federal agencies on a
reimbursable basis. The assessment is
authorized by various statutes and
regulations: Section 4702 of Title 5,
U.S.C.; E.O. 12862; E.O. 13715; Section
1128 of the National Defense
Authorization Act for Fiscal Year 2004,
Public Law 108–136; 5 U.S.C. 1101 note,
1103(a)(5), 1104, 1302, 3301, 3302,
4702, 7701 note; E.O. 13197, 66 FR
7853, 3 CFR 748 (2002); E.O. 10577, 12
FR 1259, 3 CFR, 1954–1958 Comp., p.
218; and Section 4703 of Title 5, United
States Code.
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18:11 Sep 21, 2017
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This collection request includes
surveys we currently use and plan to
use during the next three years to
measure agency performance in
providing services to meet customer
needs. These surveys consist of Likerttype, mark-one, and mark-all-that-apply
items, and may include a small number
of open-ended comment items.
Administration of OPM’s Customer
Satisfaction Surveys (OMB No. 3206–
0236) typically consists of
approximately 15–20 standard items
drawn from an item bank of
approximately 50 items; client agencies
usually add a small number of custom
items to assess satisfaction with specific
products and services. The survey is
almost always administered
electronically.
44473
U.S. Postal Service, 475 L’Enfant Plaza
SW., Washington, DC 20260–1000.
Telephone: (202) 268–4800.
Julie S. Moore.
Secretary.
[FR Doc. 2017–20394 Filed 9–20–17; 4:15 pm]
BILLING CODE 7710–12–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81644; File No. SR–ICC–
2017–008]
Self-Regulatory Organizations; ICE
Clear Credit LLC; Order Approving
Proposed Rule Change Relating to the
Clearance of Additional Credit Default
Swap Contracts
Analysis
September 18, 2017.
Agency: Human Resources Strategy
and Evaluation Solutions, Office of
Personnel Management.
Title: Customer Satisfaction Surveys.
OMB Number: 3206–0236.
Frequency: On occasion.
Affected Public: Individuals and
businesses.
Number of Respondents:
Approximately 180,000.
Estimated Time per Respondent: 7
minutes.
Total Burden Hours: 21,000 hours.
I. Introduction
On June 13, 2017, ICE Clear Credit
LLC (‘‘ICC’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’) 1 and Rule 19b–4
thereunder,2 a proposed rule change to
revise the ICC Rulebook (the ‘‘Rules’’) in
order to provide for the clearance of
additional Standard Emerging Market
Sovereign CDS contracts (together, ‘‘EM
Contracts’’). The proposed rule change
was published for comment in the
Federal Register on July 3, 2017.3 The
Commission did not receive comments
on the proposed rule change. On August
17, 2017, the Commission designated a
longer period for Commission action on
the proposed rule change.4 For the
reasons discussed below, the
Commission is approving the proposed
rule change.
U.S. Office of Personnel Management.
Kathleen M. McGettigan,
Acting Director.
[FR Doc. 2017–20260 Filed 9–21–17; 8:45 am]
BILLING CODE 6325–43–P
POSTAL SERVICE
Temporary Emergency Committee of
the Board of Governors; Sunshine Act
Meeting
Monday, September
25, 2017, at 1:00 p.m.
PLACE: Washington, DC.
STATUS: Closed.
MATTERS TO BE CONSIDERED:
Monday, September 25, 2017, at 1:00
p.m.
1. Strategic Issues.
2. Pricing.
3. Executive Session—Discussion of
prior agenda items and Temporary
Emergency Committee governance.
GENERAL COUNSEL CERTIFICATION: The
General Counsel of the United States
Postal Service has certified that the
meeting may be closed under the
Government in the Sunshine Act.
DATES AND TIMES:
CONTACT PERSON FOR MORE INFORMATION:
Julie S. Moore, Secretary of the Board,
PO 00000
Frm 00098
Fmt 4703
Sfmt 4703
II. Description of the Proposed Rule
Change
The purpose of this rule change is to
provide the basis for ICC to clear
additional credit default swap contracts.
Specifically, ICC has proposed
amending Subchapter 26D of its Rules
to provide for the clearance of
additional EM Contracts by including
the Kingdom of Saudi Arabia and the
Republic of Kazakhstan in the list of
specific Eligible SES Reference Entities
in Rule 26D–102. ICC represents that
these additional EM Contracts have
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Securities Exchange Act Release No. 34–81029
(June 27, 2017), 82 FR 30931 (July 3, 2017) (SR–
ICC–2017–008) (‘‘Notice’’).
4 Securities Exchange Act Release No. 34–81413
(August 17, 2017), 82 FR 40026
(August 23, 2017) (SR–ICC–2017–008).
2 17
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Federal Register / Vol. 82, No. 183 / Friday, September 22, 2017 / Notices
terms consistent with the other EM
Contracts approved for clearing at ICC
and governed by Subchapter 26D of the
Rules.5 ICC has also represented that
clearing of the additional EM Contracts
will not require any changes to ICC’s
Risk Management Framework or other
policies and procedures constituting
rules within the meaning of the Act.6
III. Discussion and Commission
Findings
Section 19(b)(2)(C) of the Act directs
the Commission to approve a proposed
rule change of a self-regulatory
organization if the Commission finds
that the proposed rule change is
consistent with the requirements of the
Act and the rules and regulations
thereunder applicable to such selfregulatory organization.7 Section
17A(b)(3)(F) of the Act 8 requires that,
among other things, that the rules of a
clearing agency be designed to promote
the prompt and accurate clearance and
settlement of securities transactions
and, to the extent applicable, derivative
agreements, contracts, and transactions,
to assure the safeguarding of securities
and funds which are in the custody or
control of the clearing agency or for
which it is responsible and, in general,
to protect investors and the public
interest.
The Commission finds that the rule
change is consistent with the
requirements of Section 17A of the Act 9
and the rules and regulations
thereunder applicable to ICC. The
Commission has reviewed the terms and
conditions of these contracts and has
determined that they are substantially
similar to the other contracts listed in
Subchapter 26D of the ICC Rules, all of
which ICC currently clears, the key
difference being that the underlying
reference obligations will be issuances
by the Kingdom of Saudi Arabia and the
Republic of Kazakhstan, the new
Eligible SES Reference Entities.
Moreover, the Commission has
reviewed the Notice and ICC’s Rules,
policies and procedures, which provide
that the additional EM Contracts will be
cleared pursuant to ICC’s existing
clearing arrangements and related
financial safeguards, protections and
risk management procedures.10 In
addition, the Commission has evaluated
information submitted by ICC, including
data on volume, open interest, and the
number of ICC clearing participants
82 FR at 30931.
at 30931–32.
7 15 U.S.C. 78s(b)(2)(C).
8 15 U.S.C. 78q–1(b)(3)(F).
9 15 U.S.C. 78q–1.
10 Notice, 82 FR at 30932.
6 Id.
18:11 Sep 21, 2017
IV. 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 12 and the rules and regulations
thereunder.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,13 that the
proposed rule change (File No. SR–ICC–
2017–008) be, and hereby is,
approved.14
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–20203 Filed 9–21–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
32821; File No. 812–14741]
AQR Funds, et al.
September 18, 2017.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice.
AGENCY:
Notice of an application for an order
pursuant to: (a) Section 6(c) of the
11 15
U.S.C. 78q–1(b)(3)(F).
U.S.C. 78q–1.
13 15 U.S.C. 78s(b)(2).
14 In approving the proposed rule change, the
Commission considered the proposal’s impact on
efficiency, competition and capital formation. 15
U.S.C. 78c(f).
15 17 CFR 200.30–3(a)(12).
12 15
5 Notice,
VerDate Sep<11>2014
(‘‘CPs’’) that currently trade in the
additional EM Contracts as well as
certain model parameters for the
additional EM Contracts. Based on this
review, the Commission finds that ICC’s
rules, policies, and procedures are
reasonably designed to price and
measure the potential risk presented by
these products; collect financial
resources in proportion to such risk; and
liquidate these products in the event of
a CP default. Thus, the Commission
finds that acceptance of the additional
EM Contracts, on the terms and
conditions set out in ICC’s Rules, is
consistent with the prompt and accurate
clearance of and settlement of securities
transactions and derivative agreements,
contracts and transactions cleared by
ICC, the safeguarding of securities and
funds in the custody or control of ICC,
and the protection of investors and the
public interest, within the meaning of
Section 17A(b)(3)(F) of the Act.11
Jkt 241001
PO 00000
Frm 00099
Fmt 4703
Sfmt 4703
Investment Company Act of 1940
(‘‘Act’’) granting an exemption from
sections 18(f) and 21(b) of the Act; (b)
section 12(d)(1)(J) of the Act granting an
exemption from section 12(d)(1) of the
Act; (c) sections 6(c) and 17(b) of the
Act granting an exemption from sections
17(a)(1), 17(a)(2) and 17(a)(3) of the Act;
and (d) section 17(d) of the Act and rule
17d–1 under the Act to permit certain
joint arrangements and transactions.
Applicants request an order that would
permit certain registered open-end
management investment companies to
participate in a joint lending and
borrowing facility.
Applicants: AQR Funds (the ‘‘Trust’’),
registered under the Act as an open-end
management investment company, and
AQR Capital Management, LLC
(‘‘AQR’’), registered as an investment
adviser under the Investment Advisers
Act of 1940.
Filing Dates: The application was
filed on February 2, 2017 and amended
on July 6, 2017.
Hearing or Notification of Hearing: An
order granting the requested relief will
be issued unless the Commission orders
a hearing. Interested persons may
request a hearing by writing to the
Commission’s Secretary and serving
applicants with a copy of the request,
personally or by mail. Hearing requests
should be received by the Commission
by 5:30 p.m. on October 13, 2017 and
should be accompanied by proof of
service on the applicants, in the form of
an affidavit, or, for lawyers, a certificate
of service. Pursuant to Rule 0–5 under
the Act, hearing requests should state
the nature of the writer’s interest, any
facts bearing upon the desirability of a
hearing on the matter, the reason for the
request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
writing to the Commission’s Secretary.
ADDRESSES: Secretary, U.S. Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090;
Applicants: AQR Capital Management,
LLC, Two Greenwich Plaza, 4th Floor,
Greenwich, CT 06830.
FOR FURTHER INFORMATION CONTACT:
James Maclean, Senior Counsel, at (202)
551–7794, or Robert Shapiro, Branch
Chief, at (202) 551–7758 (Division of
Investment Management, Chief
Counsel’s Office).
SUPPLEMENTARY INFORMATION: The
following is a summary of the
application. The complete application
may be obtained via the Commission’s
Web site by searching for the file
number, or an applicant using the
Company name box, at https://
E:\FR\FM\22SEN1.SGM
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]]>Agencies
[Federal Register Volume 82, Number 183 (Friday, September 22, 2017)]
[Notices]
[Pages 44473-44474]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-20203]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-81644; File No. SR-ICC-2017-008]
Self-Regulatory Organizations; ICE Clear Credit LLC; Order
Approving Proposed Rule Change Relating to the Clearance of Additional
Credit Default Swap Contracts
September 18, 2017.
I. Introduction
On June 13, 2017, ICE Clear Credit LLC (``ICC'') filed with the
Securities and Exchange Commission (``Commission''), pursuant to
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\
and Rule 19b-4 thereunder,\2\ a proposed rule change to revise the ICC
Rulebook (the ``Rules'') in order to provide for the clearance of
additional Standard Emerging Market Sovereign CDS contracts (together,
``EM Contracts''). The proposed rule change was published for comment
in the Federal Register on July 3, 2017.\3\ The Commission did not
receive comments on the proposed rule change. On August 17, 2017, the
Commission designated a longer period for Commission action on the
proposed rule change.\4\ For the reasons discussed below, the
Commission is approving the proposed rule change.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Securities Exchange Act Release No. 34-81029 (June 27,
2017), 82 FR 30931 (July 3, 2017) (SR-ICC-2017-008) (``Notice'').
\4\ Securities Exchange Act Release No. 34-81413 (August 17,
2017), 82 FR 40026
(August 23, 2017) (SR-ICC-2017-008).
---------------------------------------------------------------------------
II. Description of the Proposed Rule Change
The purpose of this rule change is to provide the basis for ICC to
clear additional credit default swap contracts. Specifically, ICC has
proposed amending Subchapter 26D of its Rules to provide for the
clearance of additional EM Contracts by including the Kingdom of Saudi
Arabia and the Republic of Kazakhstan in the list of specific Eligible
SES Reference Entities in Rule 26D-102. ICC represents that these
additional EM Contracts have
[[Page 44474]]
terms consistent with the other EM Contracts approved for clearing at
ICC and governed by Subchapter 26D of the Rules.\5\ ICC has also
represented that clearing of the additional EM Contracts will not
require any changes to ICC's Risk Management Framework or other
policies and procedures constituting rules within the meaning of the
Act.\6\
---------------------------------------------------------------------------
\5\ Notice, 82 FR at 30931.
\6\ Id. at 30931-32.
---------------------------------------------------------------------------
III. Discussion and Commission Findings
Section 19(b)(2)(C) of the Act directs the Commission to approve a
proposed rule change of a self-regulatory organization if the
Commission finds that the proposed rule change is consistent with the
requirements of the Act and the rules and regulations thereunder
applicable to such self-regulatory organization.\7\ Section
17A(b)(3)(F) of the Act \8\ requires that, among other things, that the
rules of a clearing agency be designed to promote the prompt and
accurate clearance and settlement of securities transactions and, to
the extent applicable, derivative agreements, contracts, and
transactions, to assure the safeguarding of securities and funds which
are in the custody or control of the clearing agency or for which it is
responsible and, in general, to protect investors and the public
interest.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(2)(C).
\8\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------
The Commission finds that the rule change is consistent with the
requirements of Section 17A of the Act \9\ and the rules and
regulations thereunder applicable to ICC. The Commission has reviewed
the terms and conditions of these contracts and has determined that
they are substantially similar to the other contracts listed in
Subchapter 26D of the ICC Rules, all of which ICC currently clears, the
key difference being that the underlying reference obligations will be
issuances by the Kingdom of Saudi Arabia and the Republic of
Kazakhstan, the new Eligible SES Reference Entities. Moreover, the
Commission has reviewed the Notice and ICC's Rules, policies and
procedures, which provide that the additional EM Contracts will be
cleared pursuant to ICC's existing clearing arrangements and related
financial safeguards, protections and risk management procedures.\10\
In addition, the Commission has evaluated information submitted by ICC,
including data on volume, open interest, and the number of ICC clearing
participants (``CPs'') that currently trade in the additional EM
Contracts as well as certain model parameters for the additional EM
Contracts. Based on this review, the Commission finds that ICC's rules,
policies, and procedures are reasonably designed to price and measure
the potential risk presented by these products; collect financial
resources in proportion to such risk; and liquidate these products in
the event of a CP default. Thus, the Commission finds that acceptance
of the additional EM Contracts, on the terms and conditions set out in
ICC's Rules, is consistent with the prompt and accurate clearance of
and settlement of securities transactions and derivative agreements,
contracts and transactions cleared by ICC, the safeguarding of
securities and funds in the custody or control of ICC, and the
protection of investors and the public interest, within the meaning of
Section 17A(b)(3)(F) of the Act.\11\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78q-1.
\10\ Notice, 82 FR at 30932.
\11\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------
IV. 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 \12\ and the
rules and regulations thereunder.
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78q-1.
---------------------------------------------------------------------------
It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\13\ that the proposed rule change (File No. SR-ICC-2017-008) be,
and hereby is, approved.\14\
---------------------------------------------------------------------------
\13\ 15 U.S.C. 78s(b)(2).
\14\ In approving the proposed rule change, the Commission
considered the proposal's impact on efficiency, competition and
capital formation. 15 U.S.C. 78c(f).
\15\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-20203 Filed 9-21-17; 8:45 am]
BILLING CODE 8011-01-P
