82 FR 58230 - Product Change-Parcel Select Negotiated Service Agreement

POSTAL SERVICE

Federal Register Volume 82, Issue 236 (December 11, 2017)

Page Range		58230-58230
FR Document		2017-26590

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.

Federal Register, Volume 82 Issue 236 (Monday, December 11, 2017)

[Federal Register Volume 82, Number 236 (Monday, December 11, 2017)]
[Notices]
[Page 58230]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-26590]


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POSTAL SERVICE


Product Change--Parcel Select Negotiated Service Agreement

AGENCY: Postal Service^TM.

ACTION: Notice.

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SUMMARY: The Postal Service gives notice of filing a request with the 
Postal Regulatory Commission to add a domestic shipping services 
contract to the list of Negotiated Service Agreements in the Mail 
Classification Schedule's Competitive Products List.

DATES: Date of notice required under 39 U.S.C. 3642(d)(1): December 11, 
2017.

FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202-268-3179.

SUPPLEMENTARY INFORMATION: The United States Postal Service[supreg] 
hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on 
December 5, 2017, it filed with the Postal Regulatory Commission a 
Request of the United States Postal Service to Add Parcel Select 
Contract 26 to Competitive Product List. Documents are available at 
www.prc.gov, Docket Nos. MC2018-44, CP2018-74.

Elizabeth A. Reed,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2017-26590 Filed 12-8-17; 8:45 am]
 BILLING CODE 7710-12-P

58230 Federal Register / Vol. 82, No. 236 / Monday, December 11, 2017 / Notices

SUPPLEMENTARY INFORMATION: The SECURITIES AND EXCHANGE services, OCC and its Clearing Members
United States Postal Service® hereby COMMISSION are obligated to perform cash settlement
gives notice that, pursuant to 39 U.S.C. functions pursuant to OCC’s By-Laws
[Release No. 34–82221; File No. SR–OCC– and Rules. For example, a Clearing
3642 and 3632(b)(3), on December 5,
2017–805]
2017, it filed with the Postal Regulatory Member may be obligated to pay OCC
Commission a USPS Request to Add Self-Regulatory Organizations; The the premium for a cleared contract, or
Priority Mail Contract 382 to Options Clearing Corporation; Notice OCC may be obligated to pay a Clearing
Competitive Product List. Documents of No Objection To Advance Notice Member the settlement value of a
are available at www.prc.gov, Docket Filing Concerning the Use of the cleared contract.5 The cash settlement
Nos. MC2018–42, CP2018–72. Society of Worldwide Interbank process for these and other clearance
Financial Telecommunication and settlement services is facilitated by
Elizabeth A. Reed,
(‘‘SWIFT’’) Messaging Network in Clearing Banks, which are banks or trust
Attorney, Corporate and Postal Business Law. OCC’s Cash Settlement Process companies that have entered agreements
[FR Doc. 2017–26586 Filed 12–8–17; 8:45 am] with OCC to settle on behalf of Clearing
BILLING CODE 7710–12–P
December 5, 2017. Members and at which OCC and
The Options Clearing Corporation Clearing Members each maintain
(‘‘OCC’’) filed on October 10, 2017 with accounts.6 Currently, there are eight
POSTAL SERVICE the Securities and Exchange Clearing Banks with which OCC effects
Commission (‘‘Commission’’) advance cash settlements through the ENCORE
Product Change—Parcel Select notice SR–OCC–2017–805 (‘‘Advance clearing system (‘‘OCS’’).7
Negotiated Service Agreement Notice’’) pursuant to Section 806(e)(1) of OCC generates settlement instructions
the Payment, Clearing, and Settlement associated with Cleared Contracts and
AGENCY: Postal ServiceTM. Supervision Act of 2010 (‘‘Payment, Stock Loans of Clearing Members by
Clearing and Settlement Supervision running specific predefined settlement
ACTION: Notice. Act’’) 1 and Rule 19b–4(n)(1)(i) under profiles 8 throughout the day. These
the Securities Exchange Act of 1934 2 settlement instructions are categorized
SUMMARY: The Postal Service gives (‘‘Exchange Act’’) to propose changes to as either start-of-day instructions or
notice of filing a request with the Postal the current process OCC uses to conduct intra-day instructions. The resulting
Regulatory Commission to add a cash settlement with Clearing settlement instructions are generally
domestic shipping services contract to Members 3 by requiring Clearing Banks transmitted by OCC to Clearing Banks
the list of Negotiated Service to integrate the use of the Society of by way of OCS, at which point the
Agreements in the Mail Classification Worldwide Interbank Financial Clearing Banks are able to view batches
Schedule’s Competitive Products List. Telecommunication (‘‘SWIFT’’) of settlement instructions within OCS.9
messaging network. The proposed Clearing Bank staff review the
DATES: Date of notice required under 39 settlement instructions by logging into
changes are intended to enhance the
U.S.C. 3642(d)(1): December 11, 2017. OCS and opening the settlement
resiliency, efficiency, and consistency of
FOR FURTHER INFORMATION CONTACT: the cash settlement process and thereby batch.10
Elizabeth A. Reed, 202–268–3179. mitigate risks that are associated with
5 See Article VI, Section 4 of OCC’s By-Laws
the existing cash settlement process.
SUPPLEMENTARY INFORMATION: The The Advance Notice was published for (Obligations of Purchasing Clearing Members); see
United States Postal Service® hereby comment in the Federal Register on
also Chapter V of OCC’s Rules (Daily Cash
Settlement); Article VI, Section 6.01 of OCC’s By-
gives notice that, pursuant to 39 U.S.C. November 17, 2017.4 The Commission Laws (requiring, among other things, that OCC be
3642 and 3632(b)(3), on December 5, has not received any comments on the substituted through novation as the buyer of every
2017, it filed with the Postal Regulatory seller and seller to every buyer with respect to
Advance Notice to date. This obligations owing to persons having positions in
Commission a Request of the United publication serves as notice of no cleared contract); Article I, Section 1.S.(16) of
States Postal Service to Add Parcel objection to the Advance Notice. OCC’s By-Laws (defining the term ‘‘settlement
Select Contract 26 to Competitive time’’).
Product List. Documents are available at I. Background 6 See OCC Rule 101.C.(1) (defining the term

‘‘clearing bank’’ to mean ‘‘a bank or trust company
www.prc.gov, Docket Nos. MC2018–44, In connection with OCC’s which has entered into an agreement with [OCC] in
CP2018–74. performance of clearance and settlement respect of settlement of confirmed trades on behalf
of Clearing Members.’’).
Elizabeth A. Reed, 1 12 U.S.C. 5465(e)(1). The Financial Stability 7 See generally OCC Completes Second Major

Attorney, Corporate and Postal Business Law. Oversight Council designated OCC a systemically Installation of EncoreTM Clearing System
important financial market utility (‘‘SIFMU’’) on (November 25, 2002) available at https://
[FR Doc. 2017–26590 Filed 12–8–17; 8:45 am]
July 18, 2012. See Financial Stability Oversight www.theocc.com/about/newsroom/releases/2002/
BILLING CODE 7710–12–P Council 2012 Annual Report, Appendix A, http:// 11_25.jsp.
www.treasury.gov/initiatives/fsoc/Documents/ 8 Predefined settlement profiles are programmed
2012%20Annual%20Report.pdf. Therefore, OCC is to track various types of obligations to pay or collect
required to comply with the Payment, Clearing and cash in connection with Cleared Contracts and
Settlement Supervision Act and file advance Stock Loans that are in turn used to generate
notices with the Commission. settlement instructions.
2 17 CFR 240.19b–4(n)(1)(i). 9 A settlement batch is a set of individual debit
3 Unless specified otherwise, capitalized terms or credit settlement instructions that may either
daltland on DSKBBV9HB2PROD with NOTICES

shall have the meaning OCC ascribes in its By-Laws instruct a Clearing Bank to move funds to or from
and Rules. an OCC settlement account or to or from a Clearing
4 Notice of Filing of Advance Notice Concerning Member’s account at the same Clearing Bank.
the use of the Society of Worldwide Interbank 10 One of the Clearing Banks, however, currently

Financial Telecommunication Messaging Network does not utilize OCS as its primary means of
in OCC’s Cash Settlement Process, Exchange Act effecting cash settlement. Instead, the Clearing Bank
Release No. 82055 (Nov. 13, 2017), 82 FR 54448 primarily receives settlement instructions from OCC
(Nov. 17, 2017) (‘‘Notice of Filing of Advance via facsimile, reviews the settlement instructions,
Notice’’). approves or rejects them, and then returns a

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Document Created: 2017-12-09 01:49:16
Document Modified: 2017-12-09 01:49:16

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.
Dates		Date of notice required under 39 U.S.C. 3642(d)(1): December 11, 2017.
Contact		Elizabeth A. Reed, 202-268-3179.
FR Citation		82 FR 58230