Board of Governors; Sunshine Act Meeting, 47430-47431 [2020-17137]

Download as PDF 47430 Federal Register / Vol. 85, No. 151 / Wednesday, August 5, 2020 / Notices 2018 data collection. Except for slight adjustments to respondent burden, the content of the statement is identical to that submitted for the renewal in 2019. The SLAA Survey has been conducted by the Institute of Museum and Library Services under the clearance number 3137–0072. OMB approved the SLAA Survey collection on 01/15/2020, and it expires 01/31/2023. Due to the addition of COVID–19-related questions in the FY 2020 SLAA Survey, this action is to request a new three-year approval. IMLS is particularly interested in comments that help the agency to: • 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, 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 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). Agency: Institute of Museum and Library Services. Title: State Library Administrative Agencies Survey, FY 2020–FY 2022. OMB Number: 3137–0072. Agency Number: 3137. Affected Public: Federal, State and local governments, State library administrative agencies, libraries, general public. Number of Respondents: 51. Frequency: Biennially. Burden Hours per Respondent: 30.4. Total Burden Hours: 1,550.4. Total Annual Costs: $44,015.86. Total Annual Federal Costs: $311,371.20. Dated: July 31, 2020. Kim Miller, Senior Grants Management Specialist, Institute of Museum and Library Services. [FR Doc. 2020–17025 Filed 8–4–20; 8:45 am] jbell on DSKJLSW7X2PROD with NOTICES BILLING CODE 7026–01–P POSTAL SERVICE Product Change—Priority Mail, FirstClass Package Service, and Parcel Select Service Negotiated Service Agreement AGENCY: Postal ServiceTM. VerDate Sep<11>2014 16:55 Aug 04, 2020 ACTION: Notice. POSTAL SERVICE 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: August 5, 2020. FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on July 24, 2020, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail, First-Class Package Service, and Parcel Select Service Contract 1 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2020–204, CP2020–231. SUMMARY: Sean Robinson, Attorney, Corporate and Postal Business Law. [FR Doc. 2020–17104 Filed 8–4–20; 8:45 am] BILLING CODE 7710–12–P Product Change—Priority Mail Express and Priority Mail Negotiated Service Agreement 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: August 5, 2020. FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on July 28, 2020, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Express & Priority Mail Contract 116 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2020–206, CP2020–233. SUMMARY: Sean Robinson, Attorney, Corporate and Postal Business Law. [FR Doc. 2020–17105 Filed 8–4–20; 8:45 am] PO 00000 Frm 00093 Fmt 4703 ACTION: Postal ServiceTM. Notice. 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. SUMMARY: Date of required notice: August 5, 2020. DATES: FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on July 24, 2020, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Contract 643 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2020–205, CP2020–232. SUPPLEMENTARY INFORMATION: Sfmt 4703 [FR Doc. 2020–17103 Filed 8–4–20; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Postal ServiceTM. Notice. AGENCY: BILLING CODE 7710–12–P Jkt 250001 AGENCY: Sean Robinson, Attorney, Corporate and Postal Business Law. POSTAL SERVICE ACTION: Product Change—Priority Mail Negotiated Service Agreement Board of Governors; Sunshine Act Meeting DATES: July 28, 2020, at 5 p.m. PLACE: Washington, DC. STATUS: Closed. ITEMS CONSIDERED: 1. Administrative Issues. 2. Strategic Issues. On July 28, 2020, a majority of the members of the Board of Governors of the United States Postal Service voted unanimously to hold and to close to public observation a special meeting in Washington, DC, via teleconference. The Board determined that no earlier public notice was practicable. 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. CONTACT PERSON FOR MORE INFORMATION: Michael J. Elston, Secretary of the Board, U.S. Postal Service, 475 L’Enfant E:\FR\FM\05AUN1.SGM 05AUN1 Federal Register / Vol. 85, No. 151 / Wednesday, August 5, 2020 / Notices Plaza SW, Washington, DC 20260–1000. Telephone: (202) 268–4800. of the most significant parts of such statements. Michael J. Elston, Secretary. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2020–17137 Filed 8–3–20; 11:15 am] BILLING CODE 7710–12–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–89426; File No. SR– NYSEAMER–2020–59] Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 904 To Increase Position Limits for Options on Certain Exchange-Traded Funds July 30, 2020. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on July 24, 2020, NYSE American LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. 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 the Substance of the Proposed Rule Change The Exchange proposes to amend Rule 904 (Position Limits) to increase the position limits for options on certain exchange-traded funds (‘‘ETFs’’). The proposed rule change is available on the Exchange’s website at www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. jbell on DSKJLSW7X2PROD 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, the self-regulatory organization 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 those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, 15 U.S.C. 78s(b)(1). 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 1 2 VerDate Sep<11>2014 16:55 Aug 04, 2020 Jkt 250001 1. Purpose The purpose of this filing is to amend Commentary .07(f) to Rule 904 to increase the position limits for options on the following ETFs: Standard and Poor’s Depositary Receipts Trust (‘‘SPY’’), iShares MSCI EAFE ETF (‘‘EFA’’), iShares China Large-Cap ETF (‘‘FXI’’), iShares iBoxx High Yield Corporate Bond Fund (‘‘HYG’’), and Financial Select Sector SPDR Fund (‘‘XLF’’). Although the proposed change does not amend the text of Rule 905 (Exercise Limits), when the proposed rule is effective and operative, the exercise limits for the options that are subject to this proposed rule change would increase, because Rule 905 provides that the exercise limits for index options and ETF options, respectively, are equivalent to their position limits. This is a competitive filing that is based on a proposal recently submitted by the Chicago Board Options Exchange Incorporated (‘‘Cboe’’) and approved by the Commission.4 Position limits are designed to address potential manipulative schemes and adverse market impacts surrounding the use of options, such as disrupting the market in the security underlying the options. While position limits should address and discourage the potential for manipulative schemes and adverse market impact, if such limits are set too low, participation in the options market may be discouraged. The Exchange believes that position limits must therefore be balanced between mitigating concerns of any potential manipulation and the cost of inhibiting potential hedging activity that could be used for legitimate economic purposes. According to Cboe, market participants have increased their demand for options on SPY, EFA, FXI, HYG, and XLF (collectively, the ‘‘Underlying ETFs’’) for both trading 4 See Securities Exchange Act Release No. 88768 (April 29, 2020) 85 FR 26736 (May 5, 2020) (SR– CBOE–2020–015) (Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, to Increase Position Limits for Options on Certain Exchange-Traded Funds and Indexes) (the ‘‘Cboe Approval Order’’). Cboe also increased position limits for options overlying the MSCI Emerging Markets Index (‘‘MXEF’’) and the MSCI EAFE Index (‘‘MXEA’’), however, because the Exchange does not list options on the MXEF or MXEA indexes this proposal does not include them. PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 47431 and hedging purposes. Cboe noted that although the demand for these options appears to have increased, position limits for options on the Underlying ETFs, have remained the same. The Exchange believes these unchanged position limits may have impeded, and may continue to impede, trading activity and strategies of investors, such as use of effective hedging vehicles or income generating strategies (e.g., buywrite or put-write), and the ability of a Market Maker 5 to make liquid markets with tighter spreads in these options resulting in the transfer of volume to over-the-counter (‘‘OTC’’) markets. OTC transactions occur through bilateral agreements, the terms of which are not publicly disclosed to the marketplace. As such, OTC transactions do not contribute to the price discovery process on a public exchange or other lit markets. Based on the foregoing, the Exchange believes that the proposed increases in position limits (and exercise limits) for options on the Underlying ETFs may enable liquidity providers to provide additional liquidity to the Exchange and enable other market participants to transfer their liquidity demands from OTC markets to the Exchange (or other options exchanges on which they participate). As described in further detail below, the Exchange believes that the continuously increasing market capitalization of the Underlying ETFs and ETF component securities, as well as the highly liquid markets for those securities, reduces the concerns for potential market manipulation and/or disruption in the underlying markets upon increasing position limits, while the rising demand for trading options on the Underlying ETFs for legitimate economic purposes compels an increase in position limits (and corresponding exercise limits). Proposed Position and Exercise Limits for Options on the Underlying ETFs Position limits for options on ETFs are determined pursuant to Rule 904, and vary according to the number of outstanding shares and the trading volumes of the underlying stocks or ETFs over the past six months. Pursuant to Rule 904, the largest in capitalization and the most frequently traded stocks and ETFs have an option position limit of 250,000 contracts (with adjustments for splits, re-capitalizations, etc.) on the same side of the market; and smaller capitalization stocks and ETFs have 5 The term ‘‘Market Maker’’ refers to a Remote Market Maker, a Floor Market Maker, a Specialist, or an e-Specialist, collectively. See Rule 920NY. A Market Maker has the rights and responsibilities set forth in Rules 925NY through Rule 926NY. E:\FR\FM\05AUN1.SGM 05AUN1

Agencies

[Federal Register Volume 85, Number 151 (Wednesday, August 5, 2020)]
[Notices]
[Pages 47430-47431]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-17137]


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POSTAL SERVICE


Board of Governors; Sunshine Act Meeting

DATES: July 28, 2020, at 5 p.m.

PLACE: Washington, DC.

STATUS: Closed.

ITEMS CONSIDERED: 
    1. Administrative Issues.
    2. Strategic Issues.
    On July 28, 2020, a majority of the members of the Board of 
Governors of the United States Postal Service voted unanimously to hold 
and to close to public observation a special meeting in Washington, DC, 
via teleconference. The Board determined that no earlier public notice 
was practicable.

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.

CONTACT PERSON FOR MORE INFORMATION: Michael J. Elston, Secretary of 
the Board, U.S. Postal Service, 475 L'Enfant

[[Page 47431]]

Plaza SW, Washington, DC 20260-1000. Telephone: (202) 268-4800.

Michael J. Elston,
Secretary.
[FR Doc. 2020-17137 Filed 8-3-20; 11:15 am]
BILLING CODE 7710-12-P
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