Competitive Price Adjustment, 66369-66370 [2020-23000]

Download as PDF Federal Register / Vol. 85, No. 202 / Monday, October 19, 2020 / Notices changes are due no later than October 29, 2020. 3. Pursuant to 39 U.S.C. 505, Richard A. Oliver is appointed to serve as an officer of the Commission (Public Representative) to represent the interests of the general public in this proceeding. 4. The Commission directs the Secretary of the Commission to arrange for prompt publication of this notice in the Federal Register. By the Commission. Erica A. Barker, Secretary. [FR Doc. 2020–23001 Filed 10–16–20; 8:45 am] BILLING CODE 7710–FW–P POSTAL REGULATORY COMMISSION [Docket No. CP2021–15; Order No. 5718] Competitive Price Adjustment Postal Regulatory Commission. ACTION: Notice. AGENCY: The Commission is recognizing a recently filed Postal Service document with the Commission concerning changes in rates of general applicability for competitive international products. The changes are scheduled to take effect January 24, 2021. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: October 27, 2020. ADDRESSES: Submit comments electronically via the Commission’s Filing Online system at http:// www.prc.gov. Those who cannot submit comments electronically should contact the person identified in the FOR FURTHER INFORMATION CONTACT section by telephone for advice on filing alternatives. SUMMARY: FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: Table of Contents I. Introduction and Overview II. Initial Administrative Actions III. Ordering Paragraphs jbell on DSKJLSW7X2PROD with NOTICES I. Introduction and Overview On October 9, 2020, the Postal Service filed notice with the Commission concerning changes in rates of general applicability for competitive international products.1 The Postal 1 United States Postal Service Notice of Changes in Rates of General Applicability for Competitive International Products, October 9, 2020 (Notice). VerDate Sep<11>2014 18:05 Oct 16, 2020 Jkt 253001 Service represents that, as required by 39 CFR 3035.102(b), the Notice includes an explanation and justification for the changes, the effective date, and a schedule of the changed rates. See Notice at 1. The changes are scheduled to take effect on January 24, 2021. Id. Attached to the Notice is Governors’ Decision No. 20–4, which states the new prices are in accordance with 39 U.S.C. 3632 and 3633 and 39 CFR 3035.102.2 The Governors’ Decision provides an analysis of the competitive products’ price changes intended to demonstrate that the changes comply with 39 U.S.C. 3633 and 39 CFR part 3035. Governors’ Decision No. 20–4 at 1. The attachment to the Governors’ Decision sets forth the price changes and includes draft Mail Classification Schedule (MCS) language for competitive products of general applicability. The Governors’ Decision includes two additional attachments: • A partially redacted table showing FY 2021 projected volumes, revenues, attributable costs, contribution, and cost coverage for each product, assuming implementation of the new prices on January 24, 2021. • A partially redacted table showing FY 2021 projected volumes, revenues, attributable costs, contribution, and cost coverage for each product, assuming a hypothetical implementation of the new prices on October 1, 2020. The Notice also includes an application for non-public treatment of the attributable costs, contribution, and cost coverage data in the unredacted version of the annex to the Governors’ Decision, as well as the supporting materials for the data. Notice at 1–2. Planned price adjustments. The Governors’ Decision includes an overview of the Postal Service’s planned price changes, which is summarized in the table below. 66369 TABLE I–1—PROPOSED PRICE CHANGES—Continued Product name Average price increase (percent) Priority Mail Express International .................................... Priority Mail International ............ International Priority Airmail ....... International Surface Air Lift ....... Airmail M-Bags ........................... First-Class Package International Service .................................... 3.6 5.1 74.1 32.6 5.0 4.8 International Ancillary Services and Special Services International Ancillary Services .. 3.4 Source: See Governors’ Decision No. 20–4 at 2–3 (showing percentage increases for international products). II. Initial Administrative Actions The Commission establishes Docket No. CP2021–15 to consider the Postal Service’s Notice. Interested persons may express views and offer comments on whether the planned changes are consistent with 39 U.S.C. 3632, 3633, and 3642, 39 CFR part 3035, and 39 CFR 3040 subparts B and E. Comments are due no later than October 27, 2020. For specific details of the planned price changes, interested persons are encouraged to review the Notice, which is available on the Commission’s website at www.prc.gov. Pursuant to 39 U.S.C. 505, Katalin K. Clendenin is appointed to serve as Public Representative to represent the interests of the general public in this docket. III. Ordering Paragraphs It is ordered: 1. The Commission establishes Docket TABLE I–1—PROPOSED PRICE No. CP2021–15 to provide interested CHANGES persons an opportunity to express views and offer comments on whether the Average planned changes are consistent with 39 price U.S.C. 3632, 3633, and 3642, 39 CFR Product name increase part 3035, and 39 CFR 3040 subparts B (percent) and E. International Competitive Products 2. Comments are due no later than October 27, 2020. Global Express Guaranteed ....... 0.9 3. Pursuant to 39 U.S.C. 505, the Commission appoints Katalin K. Pursuant to 39 U.S.C. 3632(b)(2), the Postal Service is obligated to publish the Governors’ Decision and Clendenin to serve as an officer of the record of proceedings in the Federal Register at Commission (Public Representative) to least 30 days before the effective date of the new represent the interests of the general rates. 2 Notice, Decision of the Governors of the United public in this docket. States Postal Service on Changes in Rates of General 4. The Secretary shall arrange for Applicability for Competitive International publication of this Order in the Federal Products (Governors’ Decision No. 20–4), at 1 Register. (Governors’ Decision No. 20–4). PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 E:\FR\FM\19OCN1.SGM 19OCN1 66370 Federal Register / Vol. 85, No. 202 / Monday, October 19, 2020 / Notices By the Commission. Erica A. Barker, Secretary. 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, of the most significant parts of such statements. [FR Doc. 2020–23000 Filed 10–16–20; 8:45 am] BILLING CODE 7710–FW–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–90161; File No. SR–NYSE– 2020–81] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Price List October 13, 2020. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on September 30, 2020, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III 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. jbell on DSKJLSW7X2PROD with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its Price List to extend through October 2020 the waiver of equipment and related service charges and trading license fees for NYSE Trading Floorbased member organizations implemented for April through September 2020. The Exchange proposes to implement the fee changes effective October 1, 2020. 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. 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 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 VerDate Sep<11>2014 18:05 Oct 16, 2020 Jkt 253001 A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend its Price List to extend through October 2020 the waiver of equipment and related service charges and trading license fees for NYSE Trading Floorbased member organizations implemented for April through September 2020. The proposed changes respond to the current volatile market environment that has resulted in unprecedented average daily volumes and the temporary closure of the Trading Floor, which are both related to the ongoing spread of the novel coronavirus (‘‘COVID–19’’). The Exchange proposes to implement the fee changes effective October 1, 2020. Background Beginning on March 16, 2020, in order to slow the spread of COVID–19 through social distancing measures, significant limitations were placed on large gatherings throughout the country. As a result, on March 18, 2020, the Exchange determined that beginning March 23, 2020, the physical Trading Floor facilities located at 11 Wall Street in New York City would close and that the Exchange would move, on a temporary basis, to fully electronic trading.4 Following the temporary closure of the Trading Floor, the Exchange waived certain equipment fees for the booth telephone system on the Trading Floor and associated service charges for the months of April and May.5 On May 14, 2020, the Exchange announced that on May 26, 2020 trading operations on the Trading Floor would resume on a limited basis to a subset of Floor brokers, subject to health and safety measures designed to prevent the 4 See Press Release, dated March 18, 2020, available here: https://ir.theice.com/press/pressreleases/allcategories/2020/03-18-2020-204202110. 5 See Securities Exchange Act Release No. 88602 (April 8, 2020), 85 FR 20730 (April 14, 2020) (SR– NYSE–2020–27); Securities Exchange Act Release No. 88874 (May 14, 2020), 85 FR 30743 (May 20, 2020) (SR–NYSE–2020–29). See footnote 11 of the Price List. PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 spread of COVID–19.6 On June 15, 2020, the Exchange announced that on June 17, 2020, the Trading Floor would reintroduce a subset of DMMs, also subject to health and safety measures designed to prevent the spread of COVID–19.7 Following this partial reopening of the Trading Floor, the Exchange extended the equipment fee waiver for the months of June, July, August and September.8 The Trading Floor continues to operate with reduced headcount and additional health and safety precautions.9 Proposed Rule Change The proposed rule change responds to the unprecedented events surrounding the spread of COVID–19 by extending the waiver of equipment and related service charges and trading license fees for NYSE Trading Floor-based member organizations for October 2020. As noted, for the months of April, May, June, July, August and September, the Exchange waived the Annual Telephone Line Charge of $400 per phone number and the $129 fee for a single line phone, jack, and data jack. The Exchange also waived related service charges, as follows: $161.25 to install single jack (voice or data); $107.50 to relocate a jack; $53.75 to remove a jack; $107.50 to install voice or data line; $53.75 to disconnect data line; $53.75 to change a phone line subscriber; and miscellaneous telephone charges billed at $106 per hour in 15 minute increments.10 These fees were waived for (1) member organizations with at least one trading license, a physical Trading Floor presence, and Floor broker executions accounting for 40% or more of the member organization’s combined adding, taking, and auction volumes during March 1 to March 20, 2020, or, beginning in August 6 See Trader Update, dated May 14, 2020, available here: https://www.nyse.com/traderupdate/ history#110000251588. 7 See Trader Update, dated June 15, 2020, available here: https://www.nyse.com/traderupdate/history#110000272018. 8 See Securities Exchange Act Release No. 89050 (June 11, 2020), 85 FR 36637 (June 17, 2020) (SR– NYSE–2020–49); Securities Exchange Act Release No. 89324 (July 15, 2020), 85 FR 44129 (July 21, 2020) (SR–NYSE–2020–59); Securities Exchange Act Release No. 89754 (September 2, 2020), 85 FR 55550 (September 8, 2020) (SR–NYSE–2020–71); and Securities Exchange Act Release No. 89798 (September 9, 2020), 85 FR 57263 (September 15, 2020) (SR–NYSE–2020–72). 9 See Trader Update, dated June 15, 2020, available here: https://www.nyse.com/traderupdate/history#110000272018. DMMs continue to support a subset of NYSE-listed securities remotely. 10 The Service Charges also include an internet Equipment Monthly Hosting Fee that the Exchange did not waive for April, May, June, July, August and September 2020 and that the Exchange does not propose to waive for October 2020. E:\FR\FM\19OCN1.SGM 19OCN1

Agencies

[Federal Register Volume 85, Number 202 (Monday, October 19, 2020)]
[Notices]
[Pages 66369-66370]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23000]


-----------------------------------------------------------------------

POSTAL REGULATORY COMMISSION

[Docket No. CP2021-15; Order No. 5718]


Competitive Price Adjustment

AGENCY: Postal Regulatory Commission.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Commission is recognizing a recently filed Postal Service 
document with the Commission concerning changes in rates of general 
applicability for competitive international products. The changes are 
scheduled to take effect January 24, 2021. This notice informs the 
public of the filing, invites public comment, and takes other 
administrative steps.

DATES: Comments are due: October 27, 2020.

ADDRESSES: Submit comments electronically via the Commission's Filing 
Online system at http://www.prc.gov. Those who cannot submit comments 
electronically should contact the person identified in the FOR FURTHER 
INFORMATION CONTACT section by telephone for advice on filing 
alternatives.

FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 
202-789-6820.

SUPPLEMENTARY INFORMATION:

Table of Contents

I. Introduction and Overview
II. Initial Administrative Actions
III. Ordering Paragraphs

I. Introduction and Overview

    On October 9, 2020, the Postal Service filed notice with the 
Commission concerning changes in rates of general applicability for 
competitive international products.\1\ The Postal Service represents 
that, as required by 39 CFR 3035.102(b), the Notice includes an 
explanation and justification for the changes, the effective date, and 
a schedule of the changed rates. See Notice at 1. The changes are 
scheduled to take effect on January 24, 2021. Id.
---------------------------------------------------------------------------

    \1\ United States Postal Service Notice of Changes in Rates of 
General Applicability for Competitive International Products, 
October 9, 2020 (Notice). Pursuant to 39 U.S.C. 3632(b)(2), the 
Postal Service is obligated to publish the Governors' Decision and 
record of proceedings in the Federal Register at least 30 days 
before the effective date of the new rates.
---------------------------------------------------------------------------

    Attached to the Notice is Governors' Decision No. 20-4, which 
states the new prices are in accordance with 39 U.S.C. 3632 and 3633 
and 39 CFR 3035.102.\2\ The Governors' Decision provides an analysis of 
the competitive products' price changes intended to demonstrate that 
the changes comply with 39 U.S.C. 3633 and 39 CFR part 3035. Governors' 
Decision No. 20-4 at 1. The attachment to the Governors' Decision sets 
forth the price changes and includes draft Mail Classification Schedule 
(MCS) language for competitive products of general applicability.
---------------------------------------------------------------------------

    \2\ Notice, Decision of the Governors of the United States 
Postal Service on Changes in Rates of General Applicability for 
Competitive International Products (Governors' Decision No. 20-4), 
at 1 (Governors' Decision No. 20-4).
---------------------------------------------------------------------------

    The Governors' Decision includes two additional attachments:
     A partially redacted table showing FY 2021 projected 
volumes, revenues, attributable costs, contribution, and cost coverage 
for each product, assuming implementation of the new prices on January 
24, 2021.
     A partially redacted table showing FY 2021 projected 
volumes, revenues, attributable costs, contribution, and cost coverage 
for each product, assuming a hypothetical implementation of the new 
prices on October 1, 2020.
    The Notice also includes an application for non-public treatment of 
the attributable costs, contribution, and cost coverage data in the 
unredacted version of the annex to the Governors' Decision, as well as 
the supporting materials for the data. Notice at 1-2.
    Planned price adjustments. The Governors' Decision includes an 
overview of the Postal Service's planned price changes, which is 
summarized in the table below.

                    Table I-1--Proposed Price Changes
------------------------------------------------------------------------
                                                                Average
                                                                 price
                        Product name                           increase
                                                               (percent)
------------------------------------------------------------------------
                   International Competitive Products
------------------------------------------------------------------------
Global Express Guaranteed...................................         0.9
Priority Mail Express International.........................         3.6
Priority Mail International.................................         5.1
International Priority Airmail..............................        74.1
International Surface Air Lift..............................        32.6
Airmail M-Bags..............................................         5.0
First-Class Package International Service...................         4.8
------------------------------------------------------------------------
          International Ancillary Services and Special Services
------------------------------------------------------------------------
International Ancillary Services............................         3.4
------------------------------------------------------------------------
Source: See Governors' Decision No. 20-4 at 2-3 (showing percentage
  increases for international products).

II. Initial Administrative Actions

    The Commission establishes Docket No. CP2021-15 to consider the 
Postal Service's Notice. Interested persons may express views and offer 
comments on whether the planned changes are consistent with 39 U.S.C. 
3632, 3633, and 3642, 39 CFR part 3035, and 39 CFR 3040 subparts B and 
E. Comments are due no later than October 27, 2020. For specific 
details of the planned price changes, interested persons are encouraged 
to review the Notice, which is available on the Commission's website at 
www.prc.gov.
    Pursuant to 39 U.S.C. 505, Katalin K. Clendenin is appointed to 
serve as Public Representative to represent the interests of the 
general public in this docket.

III. Ordering Paragraphs

    It is ordered:
    1. The Commission establishes Docket No. CP2021-15 to provide 
interested persons an opportunity to express views and offer comments 
on whether the planned changes are consistent with 39 U.S.C. 3632, 
3633, and 3642, 39 CFR part 3035, and 39 CFR 3040 subparts B and E.
    2. Comments are due no later than October 27, 2020.
    3. Pursuant to 39 U.S.C. 505, the Commission appoints Katalin K. 
Clendenin to serve as an officer of the Commission (Public 
Representative) to represent the interests of the general public in 
this docket.
    4. The Secretary shall arrange for publication of this Order in the 
Federal Register.


[[Page 66370]]


    By the Commission.
Erica A. Barker,
Secretary.
[FR Doc. 2020-23000 Filed 10-16-20; 8:45 am]
BILLING CODE 7710-FW-P