81 FR 75055 - Clearing Target of 108 Megahertz Set for Stage 3 of the Broadcast Television Spectrum Incentive Auction; Stage 3 Bidding in the Reverse Auction Will Start on November 1, 2016
FEDERAL COMMUNICATIONS COMMISSION Federal Register Volume 81, Issue 209 (October 28, 2016)
Federal Register Volume 81, Issue 209 (October 28, 2016)
| Page Range | 75055-75058 | |
| FR Document | 2016-26196 |
[Federal Register Volume 81, Number 209 (Friday, October 28, 2016)] [Notices] [Pages 75055-75058] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-26196] ----------------------------------------------------------------------- FEDERAL COMMUNICATIONS COMMISSION [GN Docket No. 12-268; AU Docket No. 14-252; WT Docket No. 12-269; DA 16-1213] Clearing Target of 108 Megahertz Set for Stage 3 of the Broadcast Television Spectrum Incentive Auction; Stage 3 Bidding in the Reverse Auction Will Start on November 1, 2016 AGENCY: Federal Communications Commission. ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: The Incentive Auction Task Force and Wireless Telecommunications Bureau announce the spectrum clearing target of 108 megahertz and band plan for Stage 3 of the incentive auction, and that bidding in Stage 3 of the reverse auction is scheduled to begin on November 1, 2016. This document also announces details and dates regarding bidding and the availability of educational and informational materials for reverse and forward auction bidders eligible to participate in Stage 3; the availability of Stage 3 bidding and timing information in the Incentive Auction Public Reporting System; and the importance of bidder contingency plans. Finally, this document reminds each reverse and forward auction applicant of its continuing obligations under the FCC's rules. FOR FURTHER INFORMATION CONTACT: Wireless Telecommunications Bureau, Auctions and Spectrum Access Division: For general auction questions, contact Linda Sanderson at (717) 338-2868. For reverse auction or forward auction legal questions, refer to the contact information listed in the Incentive Auction Stage 3 Clearing Target Public Notice. SUPPLEMENTARY INFORMATION: This is a summary of the Incentive Auction Stage 3 Clearing Target Public Notice, GN Docket No. 12-268, AU Docket No. 14-252, WT Docket No. 12-269, DA 16-1213, released October 25, 2016. The complete text of the Incentive Auction Stage 3 Clearing Target Public Notice is available for public inspection and copying from 8:00 a.m. to 4:30 p.m. Eastern Time (ET) Monday through Thursday or from 8:00 a.m. to 11:30 a.m. ET on Fridays in the FCC Reference Information Center, 445 12th Street SW., Room CY-A257, Washington, DC 20554. The complete text is also available on the Commission's Web site at http://wireless.fcc.gov, the Auction 1000 Web site at http://www.fcc.gov/auctions/1000, or by using the search function on the ECFS Web page at http://www.fcc.gov/cgb/ecfs/. Alternative formats are available to persons with disabilities by sending an email to [email protected] or by calling the Consumer & Governmental Affairs Bureau at (202) 418-0530 (voice), (202) 418-0432 (TTY). 1. The Incentive Auction Task Force (Task Force) and the Wireless Telecommunications Bureau (Bureau) announce the 108 megahertz spectrum clearing target that has been set by the Auction System's optimization procedure and the associated band plan for Stage 3 of the incentive auction, as well as the number of Category 1 and Category 2 generic license blocks in [[Page 75056]] each Partial Economic Area (PEA) that will be offered in Stage 3 of the forward auction. The Task Force and Bureau also provide details and specific dates regarding bidding and the continuing availability of educational materials, and remind reverse and forward auction applicants of their continuing obligations. I. Stage 3 Clearing Target and Band Plan 2. The Auction System's clearing target determination procedure has set a spectrum clearing target of 108 megahertz for Stage 3 of the incentive auction. Under the band plan associated with this spectrum clearing target, 80 megahertz, or 8 paired blocks, of licensed spectrum will be offered in the forward auction on a near-nationwide basis. 3. The generic license blocks offered in Stage 3 of the forward auction under this band plan will consist of a total of 3,301 Category 1 blocks (zero to 15 percent impairment) and a total of two Category 2 blocks (greater than 15 percent and up to 50 percent impairment). Approximately 99.9 percent of the blocks offered will be Category 1 blocks, and 99.9 percent of the Category 1 blocks will be zero percent impaired. Attached to the Incentive Auction Stage 3 Clearing Target Public Notice as Appendix A is a list indicating the number of Category 1 and Category 2 blocks available in each PEA. 4. The clearing target for Stage 3 was determined by applying the procedure the Commission adopted in the Auction 1000 Bidding Procedures Public Notice, 80 FR 61917, October 14, 2015, using the same objectives as in the initial clearing target optimization and taking into account the additional channel in the TV band and any participating stations that have dropped out of the auction in the previous stage. Based on the new provisional television channel assignment plan, the nationwide impaired weighted-pops were calculated on a 2x2 cell level and the one- block-equivalent nationwide standard for impairments was applied. II. Important Information Concerning the Reverse Auction (Auction 1001) 5. Educational Materials. The Task Force and Bureau remind all reverse auction bidders of the continuing availability of Educational materials regarding bidding in the clock phase of the reverse auction on the Auction 1001 Web site under the Education section. Specifically, such bidders are encouraged to review the Reverse Auction Clock Phase Tutorial and the Reverse Auction New Stage Tutorial prior to the start of Stage 3 of the reverse auction. 6. Accessing the Auction System for Stage 3. Any bidder that had one or more stations with the status ``Frozen--Provisionally Winning'' at the end of the previous stage will be able to log in to the Reverse Auction Bidding System for Stage 3. Starting at 10:00 a.m. Eastern Time (ET) on October 26, 2016, such a bidder can log in and view the bidding status, and, where applicable, the following information for Round 1 of the new stage for each of the bidder's stations that qualified to participate in the clock rounds of the reverse auction: initial bid option, available bid options, vacancy ranges, and clock price offers. 7. A bidder will need to use the RSA SecurID[supreg] tokens (RSA tokens) it used for placing bids in the previous stage to access the Reverse Auction Bidding System for Stage 3. RSA tokens with previously set personal identification numbers (PINs) may be used without setting a new PIN. Any authorized bidder that has not already set a PIN for his or her designated RSA token (e.g., an authorized bidder recently identified on FCC Form 177 or one using a replacement RSA token) must set a PIN as described in the materials sent with the Second Confidential Status Letter. Each bidder will be able to access the Reverse Auction Bidding System at the same web address used during the previous stage. In addition, the FCC Auction Bidder Line phone number for Stage 3 will be the same number used for the previous stage. The Auction Bidder Line will be available from 9:00 a.m. to 5:30 p.m. ET starting on October 31, 2016. 8. Returning RSA Tokens. Each bidder that did not have any stations with the status ``Frozen--Provisionally Winning'' at the end of the previous stage will be sent a pre-addressed, stamped envelope to return its RSA tokens. 9. Clocks Rounds Start Date and Round Schedule. Bidding in the clock rounds of Stage 3 of Auction 1001 will begin on Tuesday, November 1, 2016, with the following schedule: Bidding Round (10:00 a.m.-2:00 p.m. ET). From Wednesday, November 2, 2016, through Friday, November 4, 2016, the schedule will be: Bidding Round (10:00 a.m.-12:00 p.m. ET) and Bidding Round (3:00 p.m.-5:00 p.m. ET). Starting on Monday, November 7, 2016, and continuing until further notice, the schedule will be: Bidding Round (10.00 a.m.-11:00 a.m. ET); Bidding Round (1:00 p.m.-2:00 p.m. ET); and Bidding Round (4:00 p.m.-5:00 p.m. ET). There will be no bidding on Friday, November 11, 2016, in observance of the Federal holiday. Bidding will resume on Monday, November 14, 2016, using the above three-round schedule until further notice. The Bureau may adjust the number and length of bidding rounds based upon its monitoring of the bidding and assessment of the reverse auction's progress. The Bureau will provide notice of any adjustment by announcement in the Reverse Auction Bidding System during the course of the auction. 10. Reset Base Clock Price and Clock Decrement for Round 1 of Stage 3. The base clock price has been reset to $900 per unit of volume for Stage 3 of the reverse auction. The price decrement for Round 1 of Stage 3 of the reverse auction will be five percent of the reset base clock price. III. Important Information Concerning the Forward Auction (Auction 1002) 11. Bidding in Stage 3. On the next business day after Stage 3 of the reverse auction concludes, the Task Force and Bureau will announce the initial bidding schedule for Stage 3 of the forward auction in the Forward Auction Bidding System and in the Incentive Auction Public Reporting System (PRS), including the date and time of the first round of bidding. Bidding in Stage 3 of the forward auction will begin no later than three business days after this announcement. Each bidder is strongly encouraged to regularly monitor the PRS for announcements and other important information related to bidding in Stage 3 of the forward auction. The PRS can be accessed directly at auctiondata.fcc.gov and from a link under the Results section of the Auction 1001 Web site (www.fcc.gov/auctions/1001) and the Auction 1002 Web site (www.fcc.gov/auctions/1002). 12. Accessing the Forward Auction Bidding System in Stage 3. Any bidder that is eligible to bid in Stage 3 of the forward auction will be able to access the Forward Auction Bidding System beginning at 10:00 a.m. ET on October 31, 2016. An eligible bidder can log in to the Forward Auction Bidding System using the same RSA tokens, web address, and instructions provided in the bidder registration materials it received prior to the start of Stage 1 of the forward auction. Upon logging in to this system, a bidder can download detailed impairment information for Stage 3 as well as the stage transition files. The detailed impairment information and bidder-specific information, including stage transition files and bidding information from previous stages, are non-public and are provided only to eligible bidders to help guide their bidding in Stage 3 of the [[Page 75057]] forward auction. This information will not be disclosed publicly until after the auction concludes. Any bidder with zero eligibility by the end of Stage 2 will not be eligible to bid in Stage 3 of the forward auction. 13. Returning RSA Tokens. Each bidder that is no longer eligible to participate in the forward auction (i.e., any bidder that has zero eligibility by the end of Stage 2) will be sent a pre-addressed, stamped envelope to return its RSA tokens. 14. Activity Rule for Round 1 of Stage 3. Starting in the first round of Stage 3, each bidder must be active on at least 95 percent of its bidding eligibility to maintain its bidding eligibility for the next round. Any changes to the activity requirement in subsequent rounds will be announced via the Forward Auction Bidding System. Prior to the start of Stage 3 of the forward auction, a bidder may view its initial eligibility and required activity for Round 1 by downloading the My Bidder Status file under the Bid/Status tab of the Downloads screen. 15. Clock Increment for Round 1 of Stage 3. An increment of five percent will be used to set clock prices for products in Round 1 of Stage 3 of the forward auction. Prior to the announcement of the forward auction bidding schedule for Stage 3, a bidder may view the clock prices for Round 1 by downloading the Sample Bids file in the Forward Auction Bidding System. IV. Public Reporting System 16. As was the case for previous stages of the incentive auction, publicly available bidding and timing information for Stage 3 of the reverse auction and the forward auction will be accessible through the PRS. The PRS will display the same types of bidding and other information for Stage 3 as was available for previous stages. For more information about the types of bidding and other information available in the PRS, please see the Public Reporting System Public Notice. V. Bidding Contingency Plan 17. The Task Force and Bureau remind each bidder that it should maintain and continue to refine as necessary a comprehensive contingency plan that can be quickly implemented in case difficulties arise when participating in the incentive auction. While the Commission will correct any problems with Commission-controlled facilities, each bidder is solely responsible for anticipating and overcoming problems such as bidder computer failures or other technical issues, loss of or problems with data connections (including those used to access and place bids in the Reverse Auction Bidding System or the Forward Auction Bidding System), telephone service interruptions, adverse local weather conditions, unavailability of its authorized bidders, or the loss or breach of confidential security codes. A bidder should ensure that each of its authorized bidders can access and place bids in the Reverse Auction Bidding System or Forward Auction Bidding System, and it should not rely upon the same computer or data connection to do so. Contingency plans should include arrangements for accessing and placing bids in the Reverse Auction Bidding System or the Forward Auction Bidding System from one or more alternative locations. A bidder's contingency plans might also include, among other arrangements, using the Auction Bidder Line as an alternative method of bidding in the incentive auction. 18. Each reverse auction bidder is further reminded that a failure to submit a bid for a station with the status ``Bidding'' is considered to be a missing bid and will be interpreted as a bid to drop out of the auction. The Reverse Auction Bidding System will automatically submit a bid to drop out of the auction for all stations with missing bids. The status of a station that bids to drop out of the auction will be ``Exited--Voluntarily'' once bid processing is complete for the round (unless the station first becomes frozen). Once a station has the status ``Exited,'' a bidder cannot bid for the station in any subsequent round or stage. 19. The Task Force and Bureau remind each forward auction bidder that its failure to submit a bid during a clock round will be considered a ``missing'' bid and will be treated as a bid for zero blocks, at the lowest price in the price range for the round, for any products in which the bidder had processed demand from the previous round. If there is insufficient excess demand, the ``missing'' bid may be partially applied or not applied at all and the bidder will continue to have processed demand for the product in the next round. If the ``missing'' bid is partially or fully applied, that bidder's eligibility may be irrevocably reduced in the next round. VI. Continuing Obligations 20. Due Diligence. The Task Force and Bureau remind each reverse and forward auction bidder that it is solely responsible throughout the auction for investigating and evaluating all legal, technical, and marketplace factors and risks that may have a bearing on the bid(s) it submits in the incentive auction. For more information, each bidder should review the Auction 1000 Application Procedures Public Notice, 80 FR 66429, October 29, 2015. 21. Prohibited Communications Reminder. The Task Force and Bureau remind all full power and Class A broadcast television licensees, as well as forward auction applicants, that they remain subject to the Commission's rules prohibiting certain communications in connection with Commission auctions. For communications among broadcasters, and between broadcasters and forward auction applicants, the prohibited communication period ends when the results of the incentive auction are announced by public notice. For communications among forward auction applicants, the period ends on the deadline for making down payments on winning bids. A party that is subject to the prohibition remains subject to the prohibition regardless of developments during the auction process. 22. The Task Force and Bureau further remind each full power and Class A broadcast television licensee that even though communicating whether or not a party filed an application to participate in the reverse auction does not violate the rules prohibiting certain communications, communicating that a party ``is not bidding'' in or has ``exited'' the reverse auction could constitute an apparent violation that needs to be reported. All forward auction applicants, including those that did not qualify to bid and those that have since lost eligibility to bid in the forward auction, are also reminded that they remain subject to the rules prohibiting certain communications until the deadline for making down payments on winning bids. 23. The Commission's rules require covered parties to report violations of the prohibition of certain communications to Margaret W. Wiener, Chief of the Auctions and Spectrum Access Division, Wireless Telecommunications Bureau, by the most expeditious means available. Any such report should be submitted by email to Ms. Wiener at the following email address: [email protected]. Any report in hard copy must be delivered only to Margaret W. Wiener, Chief, Auctions and Spectrum Access Division, Wireless Telecommunications Bureau, Federal Communications Commission, 445 12th Street SW., Washington, DC 20554. Failure to make a timely report under the rule constitutes a continuing violation of the rule, with attendant consequences. [[Page 75058]] 24. For a thorough discussion of the prohibition of certain communications during the incentive auction, please refer to the Prohibited Communications Public Notice, 80 FR 63216, October 19, 2015. 25. Making Modifications to Applications. The Task Force and Bureau remind each reverse and forward auction applicant that the Commission's rules require an applicant to maintain the accuracy and completeness of information furnished in its application to participate in Auctions 1001 and 1002, respectively. Each applicant should amend its application to furnish additional or corrected information within five days of a significant occurrence, or no more than five days after the applicant becomes aware of the need for an amendment. Any applicant that needs to make changes must do so using the procedures described in the Auction 1000 Application Procedures Public Notice and the Auction 1002 Qualified Bidders Public Notice. 26. To make changes to its FCC Form 177 or FCC Form 175 while the Auction System is available, the applicant must make those changes electronically using the Auction System and submit a letter briefly summarizing the changes to its FCC Form 177 by email to [email protected], or to its FCC Form 175 by email to [email protected]. To make changes at a time when the Auction System is unavailable, the applicant must make those changes using the procedures described in the Auction 1000 Application Procedures Public Notice. All changes are subject to review by Commission staff. Federal Communications Commission. Gary D. Michaels, Deputy Chief, Auctions and Spectrum Access Division, WTB. [FR Doc. 2016-26196 Filed 10-27-16; 8:45 am] BILLING CODE 6712-01-P
![Federal Register / Vol. 81, No. 209 / Friday, October 28, 2016 / Notices 75055
filing for applications for authorization applicant demonstrates that the service Telecommunications Bureau announce
to discontinue, reduce, or impair service has zero customers in the relevant the spectrum clearing target of 108
under section 214(a) of the Act. service area and no requests for service megahertz and band plan for Stage 3 of
In July 2016, the Commission in the last six months. the incentive auction, and that bidding
concluded that applicants seeking to The Commission also concluded that in Stage 3 of the reverse auction is
discontinue a legacy time division consumer education materials should be scheduled to begin on November 1,
multiplexing (TDM)-based voice service required as part of any technology 2016. This document also announces
as part of a transition to a new transition discontinuance because details and dates regarding bidding and
technology, whether Internet Protocol customers must be informed of their the availability of educational and
(IP), wireless, or another type choices to ensure seamless transitions. informational materials for reverse and
(technology transition discontinuance The Commission determined that forward auction bidders eligible to
application) must demonstrate that an information about the price of the legacy participate in Stage 3; the availability of
adequate replacement for the legacy service and the proposed replacement Stage 3 bidding and timing information
service exists in order to be eligible for service should be provided as part of the in the Incentive Auction Public
streamlined treatment and revised part application because any potential Reporting System; and the importance
63 accordingly. For any other domestic increased costs would implicate the of bidder contingency plans. Finally,
service for which a discontinuance Commission’s commitment to ensuring this document reminds each reverse and
application is filed, the existing that technology transitions do not forward auction applicant of its
framework governs automatic grant unduly impact our most vulnerable continuing obligations under the FCC’s
procedures. Unlike traditional citizens. To further reduce burdens on rules.
applicants, technology transition carriers, the Commission also decided to FOR FURTHER INFORMATION CONTACT:
discontinuance applicants seeking allow carriers to provide notice via Wireless Telecommunications Bureau,
streamlined treatment will be required email to offer additional options to Auctions and Spectrum Access Division:
to submit with their application either customers and addressed a gap in the For general auction questions, contact
a certification or a showing as to Commission’s rules to make a Linda Sanderson at (717) 338–2868. For
whether an ‘‘adequate replacement’’ competitive LEC’s application for reverse auction or forward auction legal
exists in the service area. The discontinuance deemed granted on the questions, refer to the contact
Commission stressed that attempting to effective date of any comer retirement information listed in the Incentive
satisfy this ‘‘adequate replacement’’ test that made the discontinuance Auction Stage 3 Clearing Target Public
to establish eligibility for streamlined unavoidable. The Commission further Notice.
treatment is entirely voluntary for an concluded that applicants must provide SUPPLEMENTARY INFORMATION: This is a
applicant. Voice technology transition notice of discontinuance applications to summary of the Incentive Auction Stage
discontinuance applicants that decline any federally-recognized Tribal Nations. 3 Clearing Target Public Notice, GN
to pursue this path are not eligible for The Commission estimates that there Docket No. 12–268, AU Docket No. 14–
streamlined treatment and will have will be five respondents submitting 25 252, WT Docket No. 12–269, DA 16–
their applications evaluated on a non- applications/responses related to these 1213, released October 25, 2016. The
streamlined basis under the traditional revisions. The Commission also complete text of the Incentive Auction
five factor test. The Commission estimates that these revisions will result Stage 3 Clearing Target Public Notice is
concluded that an applicant for a in a total of 1,775 annual burden hours available for public inspection and
technology transition discontinuance and a total annual cost of $27,900. The copying from 8:00 a.m. to 4:30 p.m.
may demonstrate that a service is an Commission estimates that the total Eastern Time (ET) Monday through
adequate replacement for a legacy voice annual burden and annual cost of the Thursday or from 8:00 a.m. to 11:30 a.m.
service by certifying or showing that one entire collection, as revised, is 2,075 ET on Fridays in the FCC Reference
or more replacement service(s) offers all and $27,900, respectively. Information Center, 445 12th Street SW.,
of the following: (i) Substantially similar Federal Communications Commission. Room CY–A257, Washington, DC 20554.
levels of network infrastructure and Marlene H. Dortch, The complete text is also available on
service quality as the applicant service; Secretary, Office of the Secretary. the Commission’s Web site at http://
(ii) compliance with existing federal [FR Doc. 2016–26052 Filed 10–27–16; 8:45 am] wireless.fcc.gov, the Auction 1000 Web
and/or industry standards required to site at http://www.fcc.gov/auctions/
BILLING CODE 6712–01–P
ensure that critical applications such as 1000, or by using the search function on
911, network security, and applications the ECFS Web page at http://
for individuals with disabilities remain FEDERAL COMMUNICATIONS www.fcc.gov/cgb/ecfs/. Alternative
available; and (iii) interoperability and COMMISSION formats are available to persons with
compatibility with an enumerated list of disabilities by sending an email to
applications and functionalities [GN Docket No. 12–268; AU Docket No. 14– FCC504@fcc.gov or by calling the
determined to be key to consumers and 252; WT Docket No. 12–269; DA 16–1213] Consumer & Governmental Affairs
competitors. One replacement service Bureau at (202) 418–0530 (voice), (202)
Clearing Target of 108 Megahertz Set
must satisfy all the criteria to retain 418–0432 (TTY).
for Stage 3 of the Broadcast Television
eligibility for automatic grant. To reduce 1. The Incentive Auction Task Force
Spectrum Incentive Auction; Stage 3
burdens on carriers, the Commission (Task Force) and the Wireless
Bidding in the Reverse Auction Will
adopted a more streamlined approach Telecommunications Bureau (Bureau)
mstockstill on DSK3G9T082PROD with NOTICES
Start on November 1, 2016
for discontinuances involving services announce the 108 megahertz spectrum
that are substantially similar to those for AGENCY: Federal Communications clearing target that has been set by the
which a Section 214 discontinuance has Commission. Auction System’s optimization
previously been approved and allowed ACTION: Notice. procedure and the associated band plan
Section 214 discontinuance applications for Stage 3 of the incentive auction, as
to be eligible for automatic grant SUMMARY: The Incentive Auction Task well as the number of Category 1 and
without any further showing if the Force and Wireless Category 2 generic license blocks in
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![75058 Federal Register / Vol. 81, No. 209 / Friday, October 28, 2016 / Notices
24. For a thorough discussion of the Federal Communications Commission. Sinthorntham, Senior Financial Analyst,
prohibition of certain communications Gary D. Michaels, (202) 452–2864, Division of Reserve
during the incentive auction, please Deputy Chief, Auctions and Spectrum Access Bank Operations and Payment Systems.
refer to the Prohibited Communications Division, WTB. For users of Telecommunications
Public Notice, 80 FR 63216, October 19, [FR Doc. 2016–26196 Filed 10–27–16; 8:45 am] Device for the Deaf (TDD) only, please
2015. BILLING CODE 6712–01–P call (202) 263–4869. Copies of the 2017
25. Making Modifications to fee schedules for the check service are
Applications. The Task Force and available from the Board, the Federal
Bureau remind each reverse and FEDERAL RESERVE SYSTEM Reserve Banks, or the Reserve Banks’
forward auction applicant that the financial services Web site at
Commission’s rules require an applicant [Docket No. OP–1552] www.frbservices.org.
to maintain the accuracy and
Federal Reserve Bank Services SUPPLEMENTARY INFORMATION:
completeness of information furnished
in its application to participate in AGENCY: Board of Governors of the I. Private Sector Adjustment Factor,
Auctions 1001 and 1002, respectively. Federal Reserve System. Priced Services Cost Recovery, and
Each applicant should amend its ACTION: Notice. Overview of 2017 Price Changes
application to furnish additional or
corrected information within five days SUMMARY: The Board of Governors of the A. Overview—Each year, as required
of a significant occurrence, or no more Federal Reserve System (Board) has by the Monetary Control Act of 1980,
than five days after the applicant approved the private sector adjustment the Reserve Banks set fees for priced
becomes aware of the need for an factor (PSAF) for 2017 of $16.6 million services provided to depository
amendment. Any applicant that needs and the 2017 fee schedules for Federal institutions. These fees are set to
to make changes must do so using the Reserve priced services and electronic recover, over the long run, all direct and
procedures described in the Auction access. These actions were taken in indirect costs and imputed costs,
1000 Application Procedures Public accordance with the Monetary Control including financing costs, taxes, and
Notice and the Auction 1002 Qualified Act of 1980, which requires that, over certain other expenses, as well as the
Bidders Public Notice. the long run, fees for Federal Reserve return on equity (profit) that would have
26. To make changes to its FCC Form priced services be established on the been earned if a private business firm
177 or FCC Form 175 while the Auction basis of all direct and indirect costs, provided the services. The imputed
System is available, the applicant must including the PSAF. costs and imputed profit are collectively
make those changes electronically using DATES: The new fee schedules become referred to as the PSAF. From 2006
the Auction System and submit a letter effective January 3, 2017. through 2015, the Reserve Banks
briefly summarizing the changes to its FOR FURTHER INFORMATION CONTACT: For recovered 102.6 percent of their total
FCC Form 177 by email to questions regarding the fee schedules: expenses (including imputed costs) and
auction1001@fcc.gov, or to its FCC Form Susan V. Foley, Senior Associate targeted after-tax profits or return on
175 by email to auction1002@fcc.gov. Director, (202) 452–3596; Linda Healey, equity (ROE) for providing priced
To make changes at a time when the Senior Financial Services Analyst, (202) services.1
Auction System is unavailable, the 452–5274, Division of Reserve Bank Table 1 summarizes 2015 actual, 2016
applicant must make those changes Operations and Payment Systems. For estimated, and 2017 budgeted cost-
using the procedures described in the questions regarding the PSAF: Gregory recovery rates for all priced services.
Auction 1000 Application Procedures L. Evans, Deputy Associate Director, Cost recovery is estimated to be 103.6
Public Notice. All changes are subject to (202) 452–3945; Lawrence Mize, Deputy percent in 2016 and budgeted to be
review by Commission staff. Associate Director, (202) 452–5232; Max 100.0 percent in 2017.
TABLE 1—AGGREGATE PRICED SERVICES PRO FORMA COST AND REVENUE PERFORMANCE A
[Dollars in millions]
5e
3 Recovery rate
1b 2c 4d
Year Revenue Total expense Net income Targeted ROE after targeted
(ROE) ROE
(%)
[1–2] [1/(2+4)]
2015 (actual) ........................................................................ 429.1 397.8 31.3 5.6 106.4
2016 (estimate) .................................................................... 432.5 413.3 19.1 4.1 103.6
2017 (budget) ....................................................................... 439.4 434.8 4.6 4.6 100.0
a Calculationsin this table and subsequent pro forma cost and revenue tables may be affected by rounding.
b Revenue includes imputed income on investments when equity is imputed at a level that meets minimum capital requirements and, when
combined with liabilities, exceeds total assets.
c The calculation of total expense includes operating, imputed, and other expenses. Imputed and other expenses include taxes, Board of Gov-
ernors’ priced services expenses, the cost of float, and interest on imputed debt, if any. Credits or debits related to the accounting for pension
mstockstill on DSK3G9T082PROD with NOTICES
plans under FAS 158 [ASC 715] are also included.
d Targeted ROE is the after-tax ROE included in the PSAF.
1 The 10-year recovery rate is based on the pro Standards (SFAS) No. 158, Employers’ Accounting related to the priced services’ benefit plans.
forma income statements for Federal Reserve priced for Defined Benefit Pension and Other Including this cumulative reduction in equity from
services published in the Board’s Annual Report. Postretirement Plans (codified in FASB Accounting 2006 to 2015 results in cost recovery of 92.8 percent
Effective December 31, 2006, the Reserve Banks Standards Codification (ASC) Topic 715 (ASC 715), for the ten-year period. This measure of long-run
implemented the Financial Accounting Standard Compesation-Retirement Benefits), which resulted cost recovery is also published in the Board’s
Board’s (FASB) Statement of Financial Accounting in recognizing a cumulative reduction in equity Annual Report.
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Document Created: 2018-02-13 16:39:47
Document Modified: 2018-02-13 16:39:47
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Contact | Wireless Telecommunications Bureau, Auctions and Spectrum Access Division: For general auction questions, contact Linda Sanderson at (717) 338-2868. For reverse auction or forward auction legal questions, refer to the contact information listed in the Incentive Auction Stage 3 Clearing Target Public Notice. | |
| FR Citation | 81 FR 75055 |
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