Product Change-First-Class Package Service Negotiated Service Agreement, 24142-24143 [2018-11119]

Download as PDF 24142 Federal Register / Vol. 83, No. 101 / Thursday, May 24, 2018 / Notices This ICR seeks approval under the PRA for revisions to the Labor Condition Application for H–1B, H–1B1, and E–3 Nonimmigrants information collection. More specifically, the Department is proposing changes to Form ETA–9035, Labor Condition Application for Nonimmigrant Workers, the Labor Condition Application (LCA) for H–1B, H–1B1, and E–3 Nonimmigrants; Form WH–4, Nonimmigrant Worker Information Form; and all applicable instructions and electronic versions. The LCA is used in the DOL employment-based temporary immigration program by employers to request permission to bring foreign workers to the United States as nonimmigrants to perform certain work in specialty occupations or as fashion models of distinguished merit and ability. The information collected on Form ETA–9035/9035E is required by sections 212(n) and (t) and 214(c) of the Immigration and Nationality Act (INA) (8 U.S.C. 1182(n) and (t), and 1184(c)). The Department has promulgated regulations to implement the INA. Specifically for this collection, regulations 20 CFR 655 subparts H and I are applicable. The INA mandates that no foreign worker may enter the United States for the purpose of performing professional work on a temporary basis unless the employer makes certain attestations to the Secretary of Labor (Secretary). 8 U.S.C. 1182(n)(1). Those attestations are as follows: (1) The employer will offer a wage that is at least the prevailing wage for the occupational classification in the area of employment or the actual wage paid by the employer to all other individuals with similar experience and qualifications for the specific employment in question, whichever is greater; (2) the working conditions for the nonimmigrant worker will not adversely affect the working conditions of similarly employed U.S. workers; (3) there is no strike or lockout in the course of a labor dispute in the occupational classification at the place of employment; and (4) the employer has provided notice of the filing of the LCA. Id. In addition, further attestations are generally required for H–1B dependent employers and employers who have been found to have willfully violated the statute. Id. Form WH–4 is used to request that the Wage and Hour Division (WHD) initiate an investigation related to alleged violations of H–1B, H– 1B1, and E–3 program requirements. This ICR has been classified as a revision, because of changes to Forms ETA–9035/9035E and WH–4. The sradovich on DSK3GMQ082PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Sep<11>2014 18:10 May 23, 2018 Jkt 244001 Department has determined that additional information is required to be collected through Form ETA–9035/ 9035E; this enhanced data collection will allow the Department to better track employer usage of the program and provide greater transparency to the public with respect to the employment of H–1B, H–1B1, and E–3 nonimmigrant workers in the United States. With respect to Form WH–4, the Department is modifying naming conventions for certain data fields, to align them better with current Departmental data systems, and reformatting the form to enhance usability and understanding. In addition, the forms have been made more accessible for persons with disabilities. This information collection is subject to the PRA. A Federal agency generally cannot conduct or sponsor a collection of information, and the public is generally not required to respond to an information collection, unless it is approved by the OMB under the PRA and displays a currently valid OMB Control Number. In addition, notwithstanding any other provisions of law, no person shall generally be subject to penalty for failing to comply with a collection of information that does not display a valid Control Number. See 5 CFR 1320.6. The DOL obtains OMB approval for this information collection under Control Number 1205–0310. The current approval is scheduled to expire on May 31, 2018; however, the DOL notes that existing information collection requirements submitted to the OMB receive a month-to-month extension while they undergo review. New requirements would only take effect upon OMB approval. For additional substantive information about this ICR, see the related notice published in the Federal Register on August 3, 2017, 82 FR 36158. Interested parties are encouraged to send comments to the OMB, Office of Information and Regulatory Affairs, at the address shown in the ADDRESSES section within thirty (30) days of the publication of this notice in the Federal Register. In order to help ensure appropriate consideration, comments should mention OMB Control Number 1205–0310. The OMB is particularly interested in comments that: • Evaluate 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; • Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. This ICR may be summarized as follows: Agency: DOL–ETA. Title of Collection: Labor Condition Application for H–1B, H–1B1, and E–3 Nonimmigrants. OMB Control Number: 1205–0310. Affected Public: Private Sector— business or other for-profits and not-forprofit institutions; State, Local, and Tribal Governments; and Individuals or Households. Total Estimated Number of Annual Respondents: 680,411. Total Estimated Number of Annual Responses: 694,215. Total Estimated Annual Time Burden: 898,212 hours. Total Estimated Annual Other Costs Burden: $906,960. Authority: 44 U.S.C. 3507(a)(1)(D). Dated: May 18, 2018. Michel Smyth, Departmental Clearance Officer. [FR Doc. 2018–11137 Filed 5–23–18; 8:45 am] BILLING CODE 4510–FP–P POSTAL SERVICE Product Change—First-Class Package Service Negotiated Service Agreement Postal Service®. 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: Date of required notice: May 24, 2018. FOR FURTHER INFORMATION CONTACT: Maria W. Votsch, 202–268–6525. SUPPLEMENTARY INFORMATION: The United States Postal Service hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on May 21, 2018, it filed with the Postal Regulatory Commission a USPS Request to Add First-Class Package Service Contract 93 SUMMARY: E:\FR\FM\24MYN1.SGM 24MYN1 Federal Register / Vol. 83, No. 101 / Thursday, May 24, 2018 / Notices to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2018–155, CP2018–224. Maria W. Votsch, Attorney, Corporate and Postal Business Law. [FR Doc. 2018–11119 Filed 5–23–18; 8:45 am] BILLING CODE 7710–12–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–83290; File No. SR–FINRA– 2018–020] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the Definition of ‘‘Agency Debt Security’’ May 18, 2018. 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 17, 2018, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by FINRA. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to amend FINRA Rule 6710 to modify the definition of ‘‘Agency Debt Security.’’ The text of the proposed rule change is available on FINRA’s website at https://www.finra.org, at the principal office of FINRA and at the Commission’s Public Reference Room. sradovich on DSK3GMQ082PROD with NOTICES II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FINRA included statements concerning the purpose of 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 IV below. FINRA has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 18:10 May 23, 2018 Jkt 244001 24143 FINRA requires members to report to the Trade Reporting and Compliance Engine (‘‘TRACE’’) transactions in Agency Debt Securities,3 which includes those debt securities issued or guaranteed by a Government-Sponsored Enterprise (‘‘GSE’’). Fannie Mae (‘‘Fannie’’) and Freddie Mac (‘‘Freddie’’), both of which are GSEs, announced changes relating to the issuance structure of their credit risk transfer securities (‘‘CRTs’’).4 Currently, Fannie and Freddie issue CRTs as direct debt obligations, and therefore CRTs fall within the definition of ‘‘Agency Debt Security’’ for purposes of TRACE data categorization and dissemination. FINRA understands that under the new issuance structure, CRTs will be issued by a Fannie- or Freddie-sponsored trust rather than directly by Fannie or Freddie, and proceeds from the sale of the CRTs will be placed in a trust account and managed by a third-party trustee. As a result of CRTs being issued by a trust sponsored by a GSE instead of directly issued by a GSE, CRTs would no longer fall within the technical definition of ‘‘Agency Debt Security’’ and would be considered corporate debt for TRACE data and dissemination purposes. This outcome would be problematic for TRACE subscribers consuming data related to CRTs because transactions in CRTs would no longer be disseminated as part of the Agency Debt data set. In addition, the TRACE system would apply the corporate, rather than Agency, debt transaction size dissemination cap for unrated securities, specifically a $1 million dissemination cap for unrated corporate debt versus $5 million for unrated Agency Debt Securities. Thus, classifying CRTs as corporate debt would decrease transparency as to the actual size of the transaction given that unrated corporate debt is disseminated with the $1, rather than $5, million dissemination cap. FINRA believes that the new issuance structure for CRTs will not materially change the characteristics of the CRTs to warrant altered treatment for purposes of TRACE categorization and dissemination. While a trust will be issuing the CRTs, FINRA understands that Fannie and Freddie will retain a material net economic interest 5 in the reference tranches associated with the CRTs issued under the new structure and will enter into a credit protection agreement with the trust, including agreeing to pay any shortfall between the investment earnings on the collateral held by the trust and the onemonth LIBOR. Thus, FINRA is proposing to amend Rule 6710(l) to expand the definition of ‘‘Agency Debt Security’’ to include debt issued by a trust or other entity established or sponsored by a GSE for the purpose of issuing debt securities, where the GSE provides the collateral to the entity or retains a material net economic interest in the securities issued by the entity. This proposed rule would allow CRTs to continue to fall within the definition of ‘‘Agency Debt Security’’ for TRACE purposes and would address any similar future modifications by Fannie and Freddie to other programs.6 FINRA believes that this would benefit investors by ensuring the continued application of the $5 million dissemination cap for unrated Agency Debt Securities, instead of the $1 million dissemination cap for unrated corporate debt. Additionally, continuing to classify CRTs issued under the new issuance structure as Agency Debt Securities would avoid confusion by ensuring that subscribers of the Agency Debt data set continue to receive transaction information on CRTs. Finally, FINRA does not believe that the modification in issuance structure will materially change the characteristics of the CRTs for purposes of TRACE dissemination and, therefore, FINRA does not believe that classifying CRTs as corporate debt solely because of the new issuance structure is warranted. FINRA has filed the proposed rule change for immediate effectiveness. FINRA has requested that the SEC waive the requirement that the proposed rule 3 ‘‘Agency Debt Security’’ generally includes a debt security (i) issued or guaranteed by an Agency as defined in Rule 6710(k); or (ii) issued or guaranteed by a Government-Sponsored Enterprise as defined in Rule 6710(n). Rule 6710(n) provides that ‘‘Government-Sponsored Enterprise’’ has the same meaning as defined in 2 U.S.C. 622(8). 4 Fannie and Freddie introduced their respective CRT programs in 2013. CRTs are linked to an underlying loan pool selected and acquired by the GSE and the credit and prepayment performance of the underlying loans determines the performance of the CRTs. 5 See, e.g., Fannie Mae, Prospectus, Connecticut Avenue Securities, Series 2018–C03 Notes Due October 2030, https://www.fanniemae.com/ resources/file/credit-risk/pdf/connave-2018-c03prospectus.pdf; see also, e.g., Freddie Mac, Offering Circular, Seasoned Credit Risk Transfer Trust, Series 2017–3, https://www.freddiemac.com/ seasonedloanofferings/docs/SCRT_2017-3_ OC%20Final.pdf. 6 FINRA has discussed the proposed rule change with Fannie and Freddie, both of which support the continued inclusion of CRTs within the definition of ‘‘Agency Debt Security.’’ A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 E:\FR\FM\24MYN1.SGM 24MYN1

Agencies

Postal Service

[Federal Register Volume 83, Number 101 (Thursday, May 24, 2018)]
[Notices]
[Pages 24142-24143]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-11119]


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POSTAL SERVICE


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

AGENCY: Postal Service[reg].

ACTION: Notice.

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SUMMARY: 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: Date of required notice: May 24, 2018.

FOR FURTHER INFORMATION CONTACT: Maria W. Votsch, 202-268-6525.

SUPPLEMENTARY INFORMATION: The United States Postal Service hereby 
gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on May 
21, 2018, it filed with the Postal Regulatory Commission a USPS Request 
to Add First-Class Package Service Contract 93

[[Page 24143]]

to Competitive Product List. Documents are available at www.prc.gov, 
Docket Nos. MC2018-155, CP2018-224.

Maria W. Votsch,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2018-11119 Filed 5-23-18; 8:45 am]
 BILLING CODE 7710-12-P

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