Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants; Correction, 56169-56170 [2017-25627]
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Federal Register / Vol. 82, No. 227 / Tuesday, November 28, 2017 / Rules and Regulations
§ 39.13
[Amended]
2. The FAA amends § 39.13 by
removing Airworthiness Directive (AD)
2017–01–06, Amendment 39–18773 (82
FR 4773, January 17, 2017), and adding
the following new AD:
■
2017–24–03 Airbus: Amendment 39–19107;
Docket No. FAA–2017–0690; Product
Identifier 2017–NM–061–AD.
(a) Effective Date
This rescission is effective January 2, 2018.
(b) Affected AD
This action removes AD 2017–01–06,
Amendment 39–18773 (82 FR 4773, January
17, 2017).
(c) Applicability
This action applies to Airbus Model A319–
115, A319–132, A320–214, A320–232, A321–
211, A321–213, and A321–231 airplanes,
certificated in any category, as identified in
Airbus Service Bulletin A320–52–1167,
dated August 6, 2015.
(d) Related Information
(1) Refer to Mandatory Continuing
Airworthiness Information (MCAI) AD 2015–
0234–CN, dated April 28, 2017, for related
information. This MCAI may be found in the
AD docket on the Internet at https://
www.regulations.gov by searching for and
locating Docket No. FAA–2017–0690.
(2) For more information about this AD,
contact Sanjay Ralhan, Aerospace Engineer,
International Section, Transport Standards
Branch, FAA, 1601 Lind Avenue SW.,
Renton, WA 98057–3356; telephone 425–
227–1405; fax 425–227–1149.
(e) Material Incorporated by Reference
None.
Issued in Renton, Washington, on
November 15, 2017.
Jeffrey E. Duven,
Director, System Oversight Division, Aircraft
Certification Service.
[FR Doc. 2017–25253 Filed 11–27–17; 8:45 am]
BILLING CODE 4910–13–P
COMMODITY FUTURES TRADING
COMMISSION
17 CFR Part 23
RIN 3038–AC97
Margin Requirements for Uncleared
Swaps for Swap Dealers and Major
Swap Participants; Correction
Commodity Futures Trading
Commission.
ACTION: Correcting amendments.
AGENCY:
The Commodity Futures
Trading Commission (CFTC or
Commission) is correcting a final rule
published in the Federal Register on
January 6, 2016. The rule, concerning
margin requirements for uncleared
swaps for swap dealers and major swap
participants, took effect on April 1,
2016. This correction rectifies errors in
cross-references in a particular section
of the final rule.
DATES: Effective on November 28, 2017.
FOR FURTHER INFORMATION CONTACT:
Thomas Smith, Deputy Director, 202–
418–5495, tsmith@cftc.gov, or Mark
Bretscher, Attorney-Advisor, 312–596–
0529, mbretscher@cftc.gov, Division of
Swap Dealer and Intermediary
Oversight, Commodity Futures Trading
Commission, Three Lafayette Centre,
1155 21st Street NW., Washington, DC
20581.
SUPPLEMENTARY INFORMATION: In the
Federal Register of January 6, 2016 (81
FR 636), the CFTC published final rules
adopting new regulations to implement
a particular provision of the Commodity
Exchange Act (CEA), as added by the
Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank
Act).1 This provision requires the
Commission to adopt initial and
SUMMARY:
56169
variation margin requirements for
certain swap dealers and major swap
participants. In implementing the
regulations, staff has discovered crossreference errors in § 23.156 of the
regulations. As published, 17 CFR
23.156(a)(3) includes erroneous crossreferences to 17 CFR 23.156(a)(1)(iv).
Instead, the cross-references should be
to 17 CFR 23.156(a)(1)(v). Accordingly,
the Commission is making a correcting
amendment to 17 CFR 23.156(a)(3) that
removes the erroneous cross-references
to 17 CFR 23.156(a)(1)(iv) and replaces
them with corrected cross-references to
17 CFR 23.156(a)(1)(v).
List of Subjects in 17 CFR Part 23
Swaps, Swap dealers, Major swap
participants, Capital and margin
requirements.
Accordingly, 17 CFR part 23 is
corrected by making the following
correcting amendments:
PART 23—SWAP DEALERS AND
MAJOR SWAP PARTICIPANTS
1. The authority citation for part 23
continues to read as follows:
■
Authority: 7 U.S.C. 1a, 2, 6, 6a, 6b, 6b–1,
6c, 6p, 6r, 6s, 6t, 9, 9a, 12, 12a, 13b, 13c, 16a,
18, 19, 21.
2. In § 23.156, revise paragraph
(a)(3)(i)(B) to read as follows:
■
§ 23.156
Forms of margin.
(a) * * *
(3) * * *
(i) * * *
(B) The discounts set forth in the
following table:
jstallworth on DSKBBY8HB2PROD with RULES
STANDARDIZED HAIRCUT SCHEDULE
Cash in same currency as swap obligation ..........................................................................................................................................................................
Eligible government and related debt (e.g., central bank, multilateral development bank, GSE securities identified in paragraph (a)(1)(v) of this section): Residual maturity less than one-year ......................................................................................................................................................................
Eligible government and related debt (e.g., central bank, multilateral development bank, GSE securities identified in paragraph (a)(1)(v) of this section): Residual maturity between one and five years ........................................................................................................................................................
Eligible government and related debt (e.g., central bank, multilateral development bank, GSE securities identified in paragraph (a)(1)(v) of this section): Residual maturity greater than five years ................................................................................................................................................................
Eligible corporate debt (including eligible GSE debt securities not identified in paragraph (a)(1)(v) of this section): Residual maturity less than oneyear ....................................................................................................................................................................................................................................
Eligible corporate debt (including eligible GSE debt securities not identified in paragraph (a)(1)(v) of this section): Residual maturity between one and
five years ...........................................................................................................................................................................................................................
Eligible corporate debt (including eligible GSE debt securities not identified in paragraph (a)(1)(v) of this section): Residual maturity greater than five
years ..................................................................................................................................................................................................................................
Equities included in S&P 500 or related index .....................................................................................................................................................................
Equities included in S&P 1500 Composite or related index but not S&P 500 or related index ..........................................................................................
Gold .......................................................................................................................................................................................................................................
Additional (additive) haircut on asset in which the currency of the swap obligation differs from that of the collateral asset .............................................
1 See Dodd-Frank Wall Street Reform and
Consumer Protection Act, Public Law 111–203, 124
Stat. 1376 (2010).
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Federal Register / Vol. 82, No. 227 / Tuesday, November 28, 2017 / Rules and Regulations
*
*
*
rulemaking, call or email Petty Officer
Amanda Boone, Waterways
Management Branch, U.S. Coast Guard
Sector Delaware Bay; telephone (215)
271–4889, email Amanda.N.Boone@
uscg.mil.
*
Issued in Washington, DC, on November
21, 2017, by the Commission.
Christopher J. Kirkpatrick,
Secretary of the Commission.
Note: The following appendix will not
appear in the Code of Federal Regulations.
SUPPLEMENTARY INFORMATION:
Appendix to Margin Requirements for
Uncleared Swaps for Swap Dealers and
Major Swap Participants; Correction—
Commission Voting Summary
On this matter, Chairman Giancarlo and
Commissioners Quintenz and Behnam voted
in the affirmative. No Commissioner voted in
the negative.
BILLING CODE 6351–01–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 165
[Docket Number USCG–2017–1053]
RIN 1625–AA00
Safety Zone; Delaware River, Pipeline
Removal, Marcus Hook, PA
Coast Guard, DHS.
Temporary final rule.
AGENCY:
The Coast Guard is
establishing a temporary safety zone for
navigable waters within a 250-yard
radius of Commerce Construction
vessels and machinery conducting
diving and pipeline removal operations
in the Delaware River, in the vicinity of
Anchorage 7, near Marcus Hook, PA.
The safety zone is needed to protect
personnel, vessels, and the marine
environment from potential hazards
created by diving and pipeline removal
operations. Entry of vessels or persons
into this zone is prohibited unless
specifically authorized by the Captain of
the Port Delaware Bay.
DATES: This rule is effective without
actual notice from November 28, 2017
through December 8, 2017. For the
purposes of enforcement, actual notice
will be used from November 21, 2017
through November 28, 2017.
ADDRESSES: To view documents
mentioned in this preamble as being
available in the docket, go to https://
www.regulations.gov, type USCG–2017–
1053 in the ‘‘SEARCH’’ box and click
‘‘SEARCH.’’ Click on Open Docket
Folder on the line associated with this
rule.
FOR FURTHER INFORMATION CONTACT: If
you have questions about this
jstallworth on DSKBBY8HB2PROD with RULES
SUMMARY:
VerDate Sep<11>2014
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CFR Code of Federal Regulations
COTP Captain of the Port
DHS Department of Homeland Security
FR Federal Register
NPRM Notice of proposed rulemaking
§ Section
U.S.C. United States Code
II. Background Information and
Regulatory History
[FR Doc. 2017–25627 Filed 11–27–17; 8:45 am]
ACTION:
I. Table of Abbreviations
The Coast Guard is issuing this
temporary rule without prior notice and
opportunity to comment pursuant to
authority under section 4(a) of the
Administrative Procedure Act (APA) (5
U.S.C. 553(b)). This provision
authorizes an agency to issue a rule
without prior notice and opportunity to
comment when the agency for good
cause finds that those procedures are
‘‘impracticable, unnecessary, or contrary
to the public interest.’’ Under 5 U.S.C.
553(b)(B), the Coast Guard finds that
good cause exists for not publishing a
notice of proposed rulemaking (NPRM)
with respect to this rule because
notification of this pipeline removal
project was not given to the Coast Guard
until November 15, 2017. It is
impracticable to publish an NPRM
because we must establish this safety
zone by November 21, 2017.
Under 5 U.S.C. 553(d)(3), the Coast
Guard finds that good cause exists for
making this rule effective less than 30
days after publication in the Federal
Register. Delaying the effective date of
this rule would be impracticable
because immediate action is needed to
address the potential safety hazards
associated with diving and pipeline
removal operations.
III. Legal Authority and Need for Rule
The Coast Guard is issuing this rule
under authority in 33 U.S.C. 1231. The
Captain of the Port Delaware Bay has
determined that potential hazards
associated with diving and pipe removal
operations starting November 21, 2017,
will be a safety concern for anyone
within a 250-yard radius of diving and
pipe removal vessels and machinery.
This rule is needed to protect personnel,
vessels, and the marine environment in
the navigable waters within the safety
zone while the operations are being
conducted.
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IV. Discussion of the Rule
This rule establishes a safety zone
from 5:00 a.m. to 7:00 p.m., Monday
through Sunday, from November 21,
2017 through December 8, 2017. The
safety zone will cover all navigable
waters within 250 yards of vessels and
machinery being used by personnel to
conduct diving and pipe removal
operations. There are three sections of
pipeline that will be removed. The first
two sections of pipeline to be removed
are in Anchorage No. 7, Marcus Hook
Anchorage, in the Delaware River.
During removal of these sections of
pipeline, the safety zone will restrict
vessels from anchoring in the lower
portion of Anchorage No. 7. During
removal of the third section of pipeline,
operations will be conducted within the
main navigational channel and vessels
will be required to transit through the
lower portion of Anchorage No. 7.
No vessel or person will be permitted
to enter the safety zone without
obtaining permission from the COTP or
a designated representative. Vessels
wishing to transit the safety zone in the
main navigational channel may do so if
they can make satisfactory passing
arrangements with the towing vessel
JOKER in accordance with the
Navigational Rules in 33 CFR
subchapter E via VHF–FM channel 13 or
80 at least 1 hour, as well as 30 minutes,
prior to arrival to arrange safe passage.
If vessels are unable to make satisfactory
passing arrangements with the towing
vessel JOKER, they may request
permission from the COTP, or his
designated representative, on VHF–FM
channel 16. All vessels must operate at
the minimum safe speed necessary to
maintain steerage and reduce wake. The
Coast Guard will issue a Broadcast
Notice to Mariners via VHF–FM marine
channel 16, Local Notice to Mariners,
and Marine Safety Information Bulletin
further defining specific work locations
and traffic patterns.
V. Regulatory Analyses
We developed this rule after
considering numerous statutes and
Executive orders related to rulemaking.
Below we summarize our analyses
based on a number of these statutes and
Executive orders, and we discuss First
Amendment rights of protestors.
A. Regulatory Planning and Review
Executive Orders 12866 and 13563
direct agencies to assess the costs and
benefits of available regulatory
alternatives and, if regulation is
necessary, to select regulatory
approaches that maximize net benefits.
Executive Order 13771 directs agencies
E:\FR\FM\28NOR1.SGM
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[Federal Register Volume 82, Number 227 (Tuesday, November 28, 2017)]
[Rules and Regulations]
[Pages 56169-56170]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-25627]
=======================================================================
-----------------------------------------------------------------------
COMMODITY FUTURES TRADING COMMISSION
17 CFR Part 23
RIN 3038-AC97
Margin Requirements for Uncleared Swaps for Swap Dealers and
Major Swap Participants; Correction
AGENCY: Commodity Futures Trading Commission.
ACTION: Correcting amendments.
-----------------------------------------------------------------------
SUMMARY: The Commodity Futures Trading Commission (CFTC or Commission)
is correcting a final rule published in the Federal Register on January
6, 2016. The rule, concerning margin requirements for uncleared swaps
for swap dealers and major swap participants, took effect on April 1,
2016. This correction rectifies errors in cross-references in a
particular section of the final rule.
DATES: Effective on November 28, 2017.
FOR FURTHER INFORMATION CONTACT: Thomas Smith, Deputy Director, 202-
418-5495, tsmith@cftc.gov, or Mark Bretscher, Attorney-Advisor, 312-
596-0529, mbretscher@cftc.gov, Division of Swap Dealer and Intermediary
Oversight, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW., Washington, DC 20581.
SUPPLEMENTARY INFORMATION: In the Federal Register of January 6, 2016
(81 FR 636), the CFTC published final rules adopting new regulations to
implement a particular provision of the Commodity Exchange Act (CEA),
as added by the Dodd-Frank Wall Street Reform and Consumer Protection
Act (Dodd-Frank Act).\1\ This provision requires the Commission to
adopt initial and variation margin requirements for certain swap
dealers and major swap participants. In implementing the regulations,
staff has discovered cross-reference errors in Sec. 23.156 of the
regulations. As published, 17 CFR 23.156(a)(3) includes erroneous
cross-references to 17 CFR 23.156(a)(1)(iv). Instead, the cross-
references should be to 17 CFR 23.156(a)(1)(v). Accordingly, the
Commission is making a correcting amendment to 17 CFR 23.156(a)(3) that
removes the erroneous cross-references to 17 CFR 23.156(a)(1)(iv) and
replaces them with corrected cross-references to 17 CFR
23.156(a)(1)(v).
---------------------------------------------------------------------------
\1\ See Dodd-Frank Wall Street Reform and Consumer Protection
Act, Public Law 111-203, 124 Stat. 1376 (2010).
---------------------------------------------------------------------------
List of Subjects in 17 CFR Part 23
Swaps, Swap dealers, Major swap participants, Capital and margin
requirements.
Accordingly, 17 CFR part 23 is corrected by making the following
correcting amendments:
PART 23--SWAP DEALERS AND MAJOR SWAP PARTICIPANTS
0
1. The authority citation for part 23 continues to read as follows:
Authority: 7 U.S.C. 1a, 2, 6, 6a, 6b, 6b-1, 6c, 6p, 6r, 6s, 6t,
9, 9a, 12, 12a, 13b, 13c, 16a, 18, 19, 21.
0
2. In Sec. 23.156, revise paragraph (a)(3)(i)(B) to read as follows:
Sec. 23.156 Forms of margin.
(a) * * *
(3) * * *
(i) * * *
(B) The discounts set forth in the following table:
Standardized Haircut Schedule
------------------------------------------------------------------------
------------------------------------------------------------------------
Cash in same currency as swap obligation................ 0.0
Eligible government and related debt (e.g., central 0.5
bank, multilateral development bank, GSE securities
identified in paragraph (a)(1)(v) of this section):
Residual maturity less than one-year...................
Eligible government and related debt (e.g., central 2.0
bank, multilateral development bank, GSE securities
identified in paragraph (a)(1)(v) of this section):
Residual maturity between one and five years...........
Eligible government and related debt (e.g., central 4.0
bank, multilateral development bank, GSE securities
identified in paragraph (a)(1)(v) of this section):
Residual maturity greater than five years..............
Eligible corporate debt (including eligible GSE debt 1.0
securities not identified in paragraph (a)(1)(v) of
this section): Residual maturity less than one-year....
Eligible corporate debt (including eligible GSE debt 4.0
securities not identified in paragraph (a)(1)(v) of
this section): Residual maturity between one and five
years..................................................
Eligible corporate debt (including eligible GSE debt 8.0
securities not identified in paragraph (a)(1)(v) of
this section): Residual maturity greater than five
years..................................................
Equities included in S&P 500 or related index........... 15.0
Equities included in S&P 1500 Composite or related index 25.0
but not S&P 500 or related index.......................
Gold.................................................... 15.0
Additional (additive) haircut on asset in which the 8.0
currency of the swap obligation differs from that of
the collateral asset...................................
------------------------------------------------------------------------
[[Page 56170]]
* * * * *
Issued in Washington, DC, on November 21, 2017, by the
Commission.
Christopher J. Kirkpatrick,
Secretary of the Commission.
Note: The following appendix will not appear in the Code of
Federal Regulations.
Appendix to Margin Requirements for Uncleared Swaps for Swap Dealers
and Major Swap Participants; Correction--Commission Voting Summary
On this matter, Chairman Giancarlo and Commissioners Quintenz
and Behnam voted in the affirmative. No Commissioner voted in the
negative.
[FR Doc. 2017-25627 Filed 11-27-17; 8:45 am]
BILLING CODE 6351-01-P
