82 FR 45106 - Self-Regulatory Organizations; The Depository Trust Company; National Securities Clearing Corporation; Fixed Income Clearing Corporation; Notice of Filings of Proposed Rule Changes To Adopt the Clearing Agency Securities Valuation Framework
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 186 (September 27, 2017)
Federal Register Volume 82, Issue 186 (September 27, 2017)
| Page Range | 45106-45109 | |
| FR Document | 2017-20622 |
[Federal Register Volume 82, Number 186 (Wednesday, September 27, 2017)] [Notices] [Pages 45106-45109] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-20622] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-81667; File Nos. SR-DTC-2017-016; SR-NSCC-2017-016; SR- FICC-2017-020] Self-Regulatory Organizations; The Depository Trust Company; National Securities Clearing Corporation; Fixed Income Clearing Corporation; Notice of Filings of Proposed Rule Changes To Adopt the Clearing Agency Securities Valuation Framework September 21, 2017. 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 September 8, 2017, The Depository Trust Company (``DTC''), National Securities Clearing Corporation (``NSCC''), and Fixed Income Clearing Corporation (``FICC,'' each a ``Clearing Agency,'' and together with DTC and NSCC, the ``Clearing Agencies''), filed with the Securities and Exchange Commission (``Commission'') the proposed rule changes as described in Items I, II and III below, which Items have been prepared primarily by the Clearing Agencies. The Commission is publishing this notice to solicit comments on the proposed rule changes from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Clearing Agencies' Statement of the Terms of Substance of the Proposed Rule Changes The proposed rule changes would adopt the Clearing Agency Securities Valuation Framework (``Framework'') \3\ of the Clearing Agencies, as described below, including both of FICC's divisions: the Government Securities Division (``GSD'') and the Mortgage-Backed Securities Division (``MBSD''). The Framework would be maintained by the Clearing Agencies to support their compliance with Rule 17Ad- 22(e)(4)(i) \4\ under the Act and, with respect to NSCC and FICC as central counterparties (the ``CCPs''), Rule 17Ad-22(e)(6)(iv) \5\ under the Act, as described below. --------------------------------------------------------------------------- \3\ Pursuant to a telephone call with the Clearing Agencies' internal counsel on September 19, 2017, staff in the Commission's Office of Clearance and Settlement corrected the title of the Framework from ``Clearing Agency Securities Framework'' to ``Clearing Agency Securities Valuation Framework,'' as it now reads. \4\ 17 CFR 240.17Ad-22(e)(4)(i). \5\ 17 CFR 240.17Ad-22(e)(6)(iv). Each of the Clearing Agencies is a ``covered clearing agency'' as defined in Rule 17Ad-22(a)(5), and must comply with subsection (e) of Rule 17Ad-22. As Rule 17Ad- 22(e)(6)(iv) only applies to covered clearing agencies that are central counterparties, references thereto and compliance therewith apply to the CCPs only and do not apply to DTC. --------------------------------------------------------------------------- Although the Clearing Agencies would consider the Framework to be a rule, the proposed rule changes do not require any changes to the Rules, By-laws and Organization Certificate of DTC (``DTC Rules''), the Rulebook of GSD (``GSD Rules''), the Clearing Rules of MBSD (``MBSD Rules''), or the Rules & Procedures of NSCC (``NSCC Rules''), as the Framework would be a standalone document.\6\ --------------------------------------------------------------------------- \6\ Capitalized terms not defined herein are defined in the DTC Rules, GSD Rules, MBSD Rules, or NSCC Rules, as applicable, available at http://dtcc.com/legal/rules-and-procedures. --------------------------------------------------------------------------- II. Clearing Agencies' Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Changes In their filings with the Commission, the Clearing Agencies included statements concerning the purpose of and basis for the proposed rule changes and discussed any comments they received on the proposed rule changes. The text of these statements may be examined at the places specified in Item IV below. The Clearing Agencies have prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. [[Page 45107]] (A) Clearing Agencies' Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Changes 1. Purpose The Clearing Agencies are proposing to adopt the Framework, which would set forth the securities valuation practices adopted by the Clearing Agencies for (i) securities eligible for clearance and settlement processing by the applicable Clearing Agency and (ii) with respect to the CCPs, eligible securities in their respective Clearing Funds (each, a ``CUSIP''). The processes and systems described in the Framework, and any policies, procedures, or other documents created to support those processes, support the Clearing Agencies' compliance with the requirements of Rule 17Ad-22(e)(4)(i) \7\ and, with respect to the CCPs, Rule 17Ad-22(e)(6)(iv).\8\ The Framework would be owned and managed by the head of the DTCC Securities Valuation team, on behalf of the Clearing Agencies.\9\ --------------------------------------------------------------------------- \7\ 17 CFR 240.17Ad-22(e)(4)(i). \8\ 17 CFR 240.17Ad-22(e)(6)(iv). \9\ The parent company of the Clearing Agencies is The Depository Trust & Clearing Corporation (``DTCC''). DTCC operates on a shared services model with respect to the Clearing Agencies. Most corporate functions are established and managed on an enterprise- wide basis pursuant to intercompany agreements under which it is generally DTCC that provides a relevant service to a Clearing Agency. --------------------------------------------------------------------------- The Framework would provide that (i) any changes to the Framework must be approved by the Boards or such committee as may be delegated authority by the Boards from time to time pursuant to their charters, (ii) the head of the Securities Valuation team, or a delegate thereof, reviews the Framework at least annually, and (iii) any and all changes to the Framework are subject to regulatory review and approval. To the extent the Clearing Agencies create any policies, procedures or other documents to support the execution of the Framework, the Framework would provide that such supplemental documentation is subordinate to the Framework, is reasonably and fairly implied by the Framework, and complies in all respects with the provisions of the Framework. As described in more detail below, the Framework would describe the manner in which the Clearing Agencies identify, measure, monitor, and manage the risks related to the pricing of the CUSIPs. The Framework would set forth the methodology of the Clearing Agencies for using timely price data and for pricing CUSIPs when pricing data are not readily available or reliable. The Framework would also describe the methodology for monitoring pricing data with respect to the CUSIPs. Selection of Pricing Vendors Each Clearing Agency would value its applicable CUSIP prices (both end-of-day and intraday) primarily via receipt of files from third- party pricing vendors (``Pricing Vendors'').\10\ For most CUSIPs, Pricing Vendors would supply the Clearing Agencies with intraday pricing files for each business day on at least an hourly basis.\11\ Pricing Vendors would be selected by each Clearing Agency based on a review of their service, including, at a minimum, a review of Pricing Vendors' securities coverage and a price quality check. Each Clearing Agency would perform due diligence on each Pricing Vendor prior to engagement thereof, and at least annually thereafter, to assess the reliability of such Pricing Vendor. Reliability of a Pricing Vendor would be determined by each Clearing Agency based on a range of factors, including, without limitation, whether such Pricing Vendor is able to provide accurate and timely pricing data with respect to each CUSIP. --------------------------------------------------------------------------- \10\ When pricing data is not available from Pricing Vendors, the price would be procured from other internal or external sources. \11\ Certain CUSIPs may not be priced daily, and others may only be priced once each business day. --------------------------------------------------------------------------- The Framework would provide that each CUSIP is assigned a primary source Pricing Vendor (``Primary Pricing Vendor'') and a secondary source Pricing Vendor (``Secondary Pricing Vendor''). In the event that the Primary Pricing Vendor becomes unavailable, unreliable, or otherwise unusable with respect to a CUSIP, the Secondary Pricing Vendor would be designated as the replacement for the Primary Pricing Vendor with respect to such CUSIP. Monitoring and Pricing Each Clearing Agency would monitor and review each applicable Pricing Vendor's pricing at least once each business day to determine (i) whether any CUSIP's price has remained unchanged for an extended period, (ii) whether a CUSIP has been dropped from the Pricing Vendor's file, and (iii) whether any other circumstances exist that may call into question the reliability of any CUSIP's price. Each CUSIP's end-of-day price would be date stamped and identified with its Pricing Vendor source. In the event that both Primary Pricing Vendor and Secondary Pricing Vendor become unavailable, unreliable, or otherwise unusable with respect to a CUSIP for an end-of-day price, the applicable Clearing Agency would assign such CUSIP its last available price. Each CUSIP's intraday price would be time and date stamped and identified with its Pricing Vendor source. In the event that both Primary Pricing Vendor and Secondary Pricing Vendor become unavailable, unreliable, or otherwise unusable with respect to a CUSIP for a specific intraday interval, the applicable Clearing Agency would assign such CUSIP its last available price. If pricing data for a CUSIP is not available from Pricing Vendors or if the last available price is deemed to be unreliable or unusable with respect to a CUSIP, the applicable Clearing Agency would establish a price for the CUSIP based on valuation models, where applicable, and in accordance with the policies and procedures that support the Framework. 2. Statutory Basis The Clearing Agencies believe that the proposed rule changes are consistent with the requirements of the Act and the rules and regulations thereunder applicable to a registered clearing agency. In particular, the Clearing Agencies believe that the Framework is consistent with Section 17A(b)(3)(F) of the Act \12\ as well as Rule 17Ad-22(e)(4) (i)\13\ and, with respect to the CCPs, Rule 17Ad- 22(e)(6)(iv) \14\ promulgated under the Act, for the reasons described below. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78q-1(b)(3)(F). \13\ 17 CFR 240.17Ad-22(e)(4)(i). \14\ 17 CFR 240.17Ad-22(e)(6)(iv). --------------------------------------------------------------------------- Section 17A(b)(3)(F) of the Act requires, in part, that the rules of a registered clearing agency be designed to promote the prompt and accurate clearance and settlement of securities transactions, and to assure the safeguarding of securities and funds which are in the custody or control of the clearing agency or for which it is responsible.\15\ As described above, the Framework would set forth the manner in which the Clearing Agencies identify, measure, monitor, and manage the risks related to the pricing of securities processed or otherwise held by the Clearing Agencies. The processes, systems, and controls used by the Clearing Agencies to identify, measure, monitor, and manage such risks, as described in the Framework, and the policies and procedures that support these activities, would help assure that each Clearing Agency is using reliable sources of timely price data as well as procedures and sound valuation models when pricing data are not readily available or reliable. Using reliable [[Page 45108]] sources of timely price data as well as procedures and sound valuation models when pricing data are not readily available or reliable (i) with respect to the CCPs, would improve their margin system accuracy and (ii) with respect to DTC, is essential for the daily settlement of securities transactions in a fully collateralized system. Since margin and collateral play key roles in the applicable Clearing Agency's risk management process, having accurate margin system and collateral valuation would assist the Clearing Agencies to continue the prompt and accurate clearance and settlement of securities transactions and continue to assure the safeguarding of securities and funds which are in their custody or control or for which they are responsible. Therefore, the Clearing Agencies believe the Framework is consistent with the requirements of Section 17A(b)(3)(F) of the Act.\16\ --------------------------------------------------------------------------- \15\ 15 U.S.C. 78q-1(b)(3)(F). \16\ Id. --------------------------------------------------------------------------- Rule 17Ad-22(e)(4)(i) under the Act requires that each covered clearing agency establish, implement, maintain and enforce written policies and procedures reasonably designed to effectively identify, measure, monitor, and manage its credit exposures to participants and those arising from its payment, clearing, and settlement processes by maintaining sufficient financial resources to cover its credit exposure to each participant with a high degree of confidence.\17\ The Framework would describe how the Clearing Agencies identify, measure, monitor, and manage the risks related to the pricing of securities processed or otherwise held by the Clearing Agencies. The processes, systems, and controls used by the Clearing Agencies to identify, measure, monitor, and manage such risks, as described in the Framework, and the policies and procedures that support these activities, would help assure that each Clearing Agency is using (i) reliable sources of timely price data when pricing securities processed or otherwise held by the applicable Clearing Agency and (ii) procedures and sound valuation models when pricing data are not readily available or reliable. When pricing securities, using reliable sources of timely price data as well as procedures and sound valuation models when pricing data are not readily available or reliable is essential to each Clearing Agency's ability to effectively identify, measure, monitor and manage its credit exposure to participants and those arising from its payment, clearing, and settlement processes by maintaining sufficient financial resources to cover its credit exposure to each participant with a high degree of confidence. Therefore, the Clearing Agencies believe the Framework is consistent with the requirements of Rule 17Ad-22(e)(4)(i).\18\ --------------------------------------------------------------------------- \17\ 17 CFR 240.17Ad-22(e)(4)(i). \18\ Id. --------------------------------------------------------------------------- Rule 17Ad-22(e)(6)(iv) under the Act requires that each covered clearing agency that is a central counterparty establish, implement, maintain and enforce written policies and procedures reasonably designed to cover its credit exposures to its participants by establishing a risk-based margin system that, at a minimum, uses reliable sources of timely price data and uses procedures and sound valuation models for addressing circumstances in which pricing data are not readily available or reliable.\19\ The Framework would describe how the CCPs identify, measure, monitor, and manage the risks related to the pricing of securities processed or otherwise held by the CCPs. The processes, systems, and controls used by the CCPs to identify, measure, monitor, and manage such risks, as described in the Framework, and the policies and procedures that support these activities, would help assure that each CCP is using reliable sources of timely price data as well as procedures and sound valuation models when pricing data are not readily available or reliable. Specifically, the Framework would set forth the methodology for pricing securities processed or otherwise held by each CCP, including monitoring pricing data with respect to the securities eligible for clearance and settlement processing by the CCP and for eligible securities held in its Clearing Fund. In addition, the Framework would describe how each CCP would price securities when pricing data are not readily available or reliable. By setting forth how the CCPs would use timely price data when pricing securities and how each CCP would price securities when pricing data are not readily available or reliable, the CCPs believe the Framework is consistent with the requirements of Rule 17Ad-22(e)(6)(iv).\20\ --------------------------------------------------------------------------- \19\ 17 CFR 240.17Ad-22(e)(6)(iv). \20\ Id. --------------------------------------------------------------------------- (B) Clearing Agencies' Statement on Burden on Competition None of the Clearing Agencies believe that the Framework would have any impact, or impose any burden, on competition because the proposed rule changes reflect some of the existing securities valuation practices that the Clearing Agencies employ, which have been designed to assist the Clearing Agencies in using reliable sources of timely price data as well as procedures and sound valuation models for addressing circumstances in which pricing data are not readily available or reliable. The proposed rule changes would not effectuate any changes to the Clearing Agencies' processes described therein as they currently apply to their respective members or participants. (C) Clearing Agencies' Statement on Comments on the Proposed Rule Changes Received From Members, Participants, or Others The Clearing Agencies have not solicited or received any written comments relating to this proposal. The Clearing Agencies will notify the Commission of any written comments received by the Clearing Agencies. III. Date of Effectiveness of the Proposed Rule Changes, and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the clearing agency consents, the Commission will: (A) By order approve or disapprove such proposed rule changes, or (B) institute proceedings to determine whether the proposed rule changes should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule changes are consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-DTC-2017-016, SR-NSCC-2017-016, or SR-FICC-2017-020 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549. All submissions should refer to File Number SR-DTC-2017-016, SR-NSCC- 2017-016, or SR-FICC-2017-020. One of these file numbers should be included on the subject line if email is used. To help the Commission process [[Page 45109]] and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule changes that are filed with the Commission, and all written communications relating to the proposed rule changes between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Clearing Agencies and on DTCC's Web site (http://dtcc.com/legal/sec-rule-filings.aspx). All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-DTC-2017-016, SR-NSCC-2017-016, or SR- FICC-2017-020, and should be submitted on or before October 18, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\21\ --------------------------------------------------------------------------- \21\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-20622 Filed 9-26-17; 8:45 am] BILLING CODE 8011-01-P
![45106 Federal Register / Vol. 82, No. 186 / Wednesday, September 27, 2017 / Notices
C. Self-Regulatory Organization’s available for Web site viewing and I. Clearing Agencies’ Statement of the
Statement on Comments on the printing in the Commission’s Public Terms of Substance of the Proposed
Proposed Rule Change Received From Reference Room, 100 F Street NE., Rule Changes
Members, Participants or Others Washington, DC 20549, on official
business days between the hours of The proposed rule changes would
The Exchange has neither solicited adopt the Clearing Agency Securities
nor received written comments on the 10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for Valuation Framework (‘‘Framework’’) 3
proposed rule change.
inspection and copying at the principal of the Clearing Agencies, as described
III. Date of Effectiveness of the office of the Exchange. All comments below, including both of FICC’s
Proposed Rule Change and Timing for received will be posted without change; divisions: the Government Securities
Commission Action the Commission does not edit personal Division (‘‘GSD’’) and the Mortgage-
Within 45 days of the date of identifying information from Backed Securities Division (‘‘MBSD’’).
publication of this notice in the Federal submissions. You should submit only The Framework would be maintained
Register or within such longer period information that you wish to make by the Clearing Agencies to support
up to 90 days (i) as the Commission may available publicly. All submissions their compliance with Rule 17Ad–
designate if it finds such longer period should refer to File No. SR–BatsBZX– 22(e)(4)(i) 4 under the Act and, with
to be appropriate and publishes its 2017–54 and should be submitted on or respect to NSCC and FICC as central
reasons for so finding or (ii) as to which before October 18, 2017. counterparties (the ‘‘CCPs’’), Rule
the Exchange consents, the Commission For the Commission, by the Division of 17Ad–22(e)(6)(iv) 5 under the Act, as
shall: (a) By order approve or Trading and Markets, pursuant to delegated described below.
disapprove such proposed rule change, authority.30 Although the Clearing Agencies
or (b) institute proceedings to determine Eduardo A. Aleman, would consider the Framework to be a
whether the proposed rule change
Assistant Secretary. rule, the proposed rule changes do not
should be disapproved.
[FR Doc. 2017–20625 Filed 9–26–17; 8:45 am] require any changes to the Rules, By-
IV. Solicitation of Comments BILLING CODE 8011–01–P laws and Organization Certificate of
Interested persons are invited to DTC (‘‘DTC Rules’’), the Rulebook of
submit written data, views and GSD (‘‘GSD Rules’’), the Clearing Rules
arguments concerning the foregoing, SECURITIES AND EXCHANGE of MBSD (‘‘MBSD Rules’’), or the Rules
including whether the proposal is COMMISSION & Procedures of NSCC (‘‘NSCC Rules’’),
consistent with the Act. Comments may as the Framework would be a
be submitted by any of the following [Release No. 34–81667; File Nos. SR–DTC– standalone document.6
methods: 2017–016; SR–NSCC–2017–016; SR–FICC–
II. Clearing Agencies’ Statement of the
2017–020]
Electronic Comments Purpose of, and Statutory Basis for, the
• Use the Commission’s Internet Self-Regulatory Organizations; The Proposed Rule Changes
comment form (http://www.sec.gov/ Depository Trust Company; National In their filings with the Commission,
rules/sro.shtml); or Securities Clearing Corporation; Fixed the Clearing Agencies included
• Send an email to rule-comments@ Income Clearing Corporation; Notice of statements concerning the purpose of
sec.gov. Please include File No. SR– Filings of Proposed Rule Changes To and basis for the proposed rule changes
BatsBZX–2017–54 on the subject line. Adopt the Clearing Agency Securities
and discussed any comments they
Paper Comments Valuation Framework
received on the proposed rule changes.
• Send paper comments in triplicate September 21, 2017. The text of these statements may be
to Secretary, Securities and Exchange examined at the places specified in Item
Pursuant to Section 19(b)(1) of the
Commission, 100 F Street NE., IV below. The Clearing Agencies have
Securities Exchange Act of 1934
Washington, DC 20549–1090. (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 prepared summaries, set forth in
All submissions should refer to File No. notice is hereby given that on sections A, B, and C below, of the most
SR–BatsBZX–2017–54. This file number September 8, 2017, The Depository significant aspects of such statements.
should be included on the subject line Trust Company (‘‘DTC’’), National
if email is used. To help the Securities Clearing Corporation
Commission process and review your (‘‘NSCC’’), and Fixed Income Clearing 3 Pursuant to a telephone call with the Clearing
comments more efficiently, please use Corporation (‘‘FICC,’’ each a ‘‘Clearing Agencies’ internal counsel on September 19, 2017,
only one method. The Commission will Agency,’’ and together with DTC and staff in the Commission’s Office of Clearance and
post all comments on the Commission’s NSCC, the ‘‘Clearing Agencies’’), filed Settlement corrected the title of the Framework
from ‘‘Clearing Agency Securities Framework’’ to
Internet Web site (http://www.sec.gov/ with the Securities and Exchange ‘‘Clearing Agency Securities Valuation
rules/sro.shtml). Copies of the Commission (‘‘Commission’’) the Framework,’’ as it now reads.
submission, all subsequent proposed rule changes as described in 4 17 CFR 240.17Ad–22(e)(4)(i).
amendments, all written statements Items I, II and III below, which Items 5 17 CFR 240.17Ad–22(e)(6)(iv). Each of the
Clearing Agencies is a ‘‘covered clearing agency’’ as
asabaliauskas on DSKBBXCHB2PROD with NOTICES
with respect to the proposed rule have been prepared primarily by the
defined in Rule 17Ad–22(a)(5), and must comply
change that are filed with the Clearing Agencies. The Commission is with subsection (e) of Rule 17Ad–22. As Rule
Commission, and all written publishing this notice to solicit 17Ad–22(e)(6)(iv) only applies to covered clearing
communications relating to the comments on the proposed rule changes agencies that are central counterparties, references
proposed rule change between the from interested persons. thereto and compliance therewith apply to the CCPs
Commission and any person, other than only and do not apply to DTC.
6 Capitalized terms not defined herein are defined
those that may be withheld from the 30 17 CFR 200.30–3(a)(12). in the DTC Rules, GSD Rules, MBSD Rules, or
public in accordance with the 1 15 U.S.C. 78s(b)(1). NSCC Rules, as applicable, available at http://
provisions of 5 U.S.C. 552, will be 2 17 CFR 240.19b–4. dtcc.com/legal/rules-and-procedures.
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![Federal Register / Vol. 82, No. 186 / Wednesday, September 27, 2017 / Notices 45109
and review your comments more Physical Loan Application Deadline SMALL BUSINESS ADMINISTRATION
efficiently, please use only one method. Date: 11/14/2017.
[Disaster Declaration #15310 and #15311;
The Commission will post all comments Economic Injury (EIDL) Loan WISCONSIN Disaster Number WI–00061]
on the Commission’s Internet Web site Application Deadline Date: 06/15/2018.
(http://www.sec.gov/rules/sro.shtml). Administrative Declaration of a
Copies of the submission, all subsequent ADDRESSES: Submit completed loan
applications to: U.S. Small Business Disaster for the State of Wisconsin
amendments, all written statements
with respect to the proposed rule Administration, Processing and AGENCY: U.S. Small Business
changes that are filed with the Disbursement Center, 14925 Kingsport Administration.
Commission, and all written Road, Fort Worth, TX 76155. ACTION: Notice.
communications relating to the FOR FURTHER INFORMATION CONTACT: A.
proposed rule changes between the Escobar, Office of Disaster Assistance, SUMMARY: This is a notice of an
Commission and any person, other than U.S. Small Business Administration, Administrative declaration of a disaster
those that may be withheld from the 409 3rd Street SW., Suite 6050, for the State of Wisconsin dated 09/18/
public in accordance with the Washington, DC 20416, (202) 205–6734. 2017.
provisions of 5 U.S.C. 552, will be Incident: Heavy Rains and Flash
SUPPLEMENTARY INFORMATION: Notice is Flooding.
available for Web site viewing and
printing in the Commission’s Public hereby given that as a result of the Incident Period: 07/19/2017 through
Reference Room, 100 F Street NE., Administrator’s disaster declaration, 07/23/2017.
Washington, DC 20549 on official applications for disaster loans may be DATES: Issued on 09/18/2017.
business days between the hours of filed at the address listed above or other Physical Loan Application Deadline
10:00 a.m. and 3:00 p.m. Copies of the locally announced locations. Date: 11/17/2017.
filing also will be available for The following areas have been Economic Injury (EIDL) Loan
inspection and copying at the principal determined to be adversely affected by Application Deadline Date: 06/18/2018.
office of the Clearing Agencies and on the disaster: ADDRESSES: Submit completed loan
DTCC’s Web site (http://dtcc.com/legal/ Primary Counties: Stephenson. applications to: U.S. Small Business
sec-rule-filings.aspx). All comments Administration, Processing and
Contiguous Counties:
received will be posted without change; Disbursement Center, 14925 Kingsport
the Commission does not edit personal Illinois: Carroll, Jo Daviess, Ogle, Road, Fort Worth, TX 76155.
identifying information from Winnebago.
FOR FURTHER INFORMATION CONTACT:
submissions. You should submit only Wisconsin: Green, Lafayette. A. Escobar, Office of Disaster
information that you wish to make The Interest Rates are: Assistance, U.S. Small Business
available publicly. All submissions Administration, 409 3rd Street SW.,
should refer to File Number SR–DTC– Percent Suite 6050, Washington, DC 20416,
2017–016, SR–NSCC–2017–016, or SR– (202) 205–6734.
FICC–2017–020, and should be For Physical Damage:
SUPPLEMENTARY INFORMATION: Notice is
submitted on or before October 18, Homeowners with Credit Avail-
2017. able Elsewhere ...................... 3.500 hereby given that as a result of the
Homeowners without Credit Administrator’s disaster declaration,
For the Commission, by the Division of Available Elsewhere .............. 1.750 applications for disaster loans may be
Trading and Markets, pursuant to delegated Businesses with Credit Avail- filed at the address listed above or other
authority.21 able Elsewhere ...................... 6.610 locally announced locations.
Eduardo A. Aleman, Businesses without Credit The following areas have been
Assistant Secretary. Available Elsewhere .............. 3.305 determined to be adversely affected by
Non-Profit Organizations with
[FR Doc. 2017–20622 Filed 9–26–17; 8:45 am] the disaster:
Credit Available Elsewhere ... 2.500
BILLING CODE 8011–01–P Primary Counties: La Crosse,
Non-Profit Organizations with-
out Credit Available Else- Trempealeau
where ..................................... 2.500 Contiguous Counties:
SMALL BUSINESS ADMINISTRATION For Economic Injury: ................ Wisconsin: Buffalo, Eau Claire,
Businesses & Small Agricultural Jackson, Monroe, Vernon
[Disaster Declaration #15308 and #15309; Cooperatives without Credit
ILLINOIS Disaster Number IL–00050] Minnesota: Houston, Winona
Available Elsewhere .............. 3.305
Non-Profit Organizations with- The Interest Rates are:
Administrative Declaration of a out Credit Available Else-
Disaster for the State of ILLINOIS where ..................................... 2.500 Percent
AGENCY: U.S. Small Business For Physical Damage:
Administration. The number assigned to this disaster Homeowners with Credit Avail-
ACTION: Notice. for physical damage is 15308 6 and for able Elsewhere ...................... 3.500
economic injury is 15309 0. Homeowners without Credit
SUMMARY: This is a notice of an The States which received an EIDL Available Elsewhere .............. 1.750
Administrative declaration of a disaster Businesses with Credit Avail-
asabaliauskas on DSKBBXCHB2PROD with NOTICES
Declaration # are Illinois, Wisconsin.
for the State of ILLINOIS dated able Elsewhere ...................... 6.610
(Catalog of Federal Domestic Assistance Businesses without Credit
09/15/2017. Number 59008)
Incident: Severe Storms and Flooding. Available Elsewhere .............. 3.305
Dated: September 15, 2017. Non-Profit Organizations with
Incident Period: 07/19/2017 through
Linda E. McMahon, Credit Available Elsewhere ... 2.500
07/31/2017. Non-Profit Organizations with-
DATES: Issued on 09/15/2017. Administrator. out Credit Available Else-
[FR Doc. 2017–20703 Filed 9–26–17; 8:45 am] where ..................................... 2.500
21 17 CFR 200.30–3(a)(12). BILLING CODE 8025–01–P For Economic Injury:
VerDate Sep<11>2014 18:59 Sep 26, 2017 Jkt 241001 PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 E:\FR\FM\27SEN1.SGM 27SEN1](https://thefederalregister.org/doc/82_FR_45292/page/4.svg)
Document Created: 2018-10-24 14:47:57
Document Modified: 2018-10-24 14:47:57
| 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 | |
| FR Citation | 82 FR 45106 |
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