83 FR 46530 - Self-Regulatory Organizations; Fixed Income Clearing Corporation; Order Granting Approval of Proposed Rule Change To Correct Certain References and Provide Transparency to Existing Processes in the Mortgage-Backed Securities Division Electronic Pool Notification Rules

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 178 (September 13, 2018)

Page Range		46530-46532
FR Document		2018-19872

Federal Register, Volume 83 Issue 178 (Thursday, September 13, 2018)

[Federal Register Volume 83, Number 178 (Thursday, September 13, 2018)]
[Notices]
[Pages 46530-46532]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2018-19872]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84057; File No. SR-FICC-2018-005]

Self-Regulatory Organizations; Fixed Income Clearing Corporation;
Order Granting Approval of Proposed Rule Change To Correct Certain
References and Provide Transparency to Existing Processes in the
Mortgage-Backed Securities Division Electronic Pool Notification Rules

September 7, 2018.
On July 13, 2018, Fixed Income Clearing Corporation (``FICC'')
filed with the U.S. Securities and Exchange Commission (``Commission'')
proposed rule change SR-FICC-2018-005 pursuant to Section 19(b)(1) of
the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4
thereunder.\2\ The proposed rule change was published for comment in
the Federal Register on July 26, 2018.\3\ The Commission did not
receive any comment letters on the proposed rule change. For the
reasons discussed below, the Commission approves the proposed rule
change.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Securities Exchange Act Release No.83682 (July 20, 2018), 83
FR 35513 (July 26, 2018) (SR-FICC-2018-005) (``Notice'').
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I. Description of the Proposed Rule Change

The proposed rule change would amend FICC's Mortgage-Backed
Securities Division (``MSBD'') electronic pool notification (``EPN'')
service (``EPN Service'') rules (``EPN Rules'').\4\
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\4\ MBSD maintains two sets of rulebooks: The EPN Rules and the
MSBD rules (``MBSD Rules''). Notice, 83 FR at 35513. The EPN Rules
govern MBSD's EPN Service, while the MBSD Rules govern MBSD's
clearance and settlement service. Id. The EPN Rules are available at
http://www.dtcc.com/~/media/Files/Downloads/legal/rules/
ficc_mbsd_epnrules.pdf. The MBSD Rules are available at http://
www.dtcc.com/~/media/Files/Downloads/legal/rules/
ficc_mbsd_rules.pdf.
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A. Background

FICC states that the EPN Service provides an automated manner for
market participants with an obligation to deliver pools of mortgages to
transmit mortgage pool information efficiently and reliably to their
counterparties in real time.\5\ Market participants that wish to use
the EPN Service (i.e., become ``EPN Users'') are required to submit an
application to MBSD.\6\ The application process and the use of the EPN
Service are governed by the EPN Rules.\7\ MBSD's clearing members
(``Clearing Members'') are required to be EPN Users; however, one can
be an EPN User and not a Clearing Member.\8\
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\5\ Notice, 83 FR at 33513. See also ``EPN Overview,'' available
at http://www.dtcc.com/clearing-services/ficc-mbsd/epn.
\6\ Notice, 83 FR at 33513.
\7\ Id.
\8\ Id.
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B. Proposed Amendments to the EPN Rules To Include an EPN User's
Ongoing Reporting Obligations

FICC proposes to amend the EPN Rules by adding a ``General
Continuance Standards'' section. The proposed section would describe
two existing MBSD practices with respect to reporting obligations of
EPN Users.\9\ First, the proposed section would state that an EPN User
shall promptly inform FICC, both orally and in writing, if such EPN
User no longer complies with any of the EPN Rules' requirements for
admission to membership.\10\ This notification must occur within two
business days from the date on which the EPN User first learns of its
non-compliance.\11\ Second, the proposed section would state that an
EPN User shall notify FICC of certain investigations or proceedings.
Specifically, an EPN User must notify FICC within two business days
after learning (i) that the EPN User is or will become the subject of
an investigation or a proceeding, and (ii) that said investigation or
proceeding would cause the EPN User to fall out of compliance with any
of the requirements for membership set forth in the EPN Rules.\12\
However, the EPN User would not be required to provide such a
notification to FICC if doing so would cause the EPN User to violate an
applicable law, rule, or regulation.\13\
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\9\ Notice, 83 FR at 35514.
\10\ These membership standards are set forth in EPN Rules,
Article III, Rule 1, Sections 2-3, supra note 4.
\11\ Notice, 83 FR at 35514.
\12\ Id.
\13\ Id.
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C. Proposed Changes To Amend the EPN Rules To Define Circumstances
Under Which FICC May Determine an EPN User's Compliance With EPN Rules

The proposed ``General Continuance Standards'' section would
identify when FICC may review an EPN User's access to the EPN Service.
The proposed ``General Continuance Standards'' section also would
identify when FICC may seek written assurances from EPN Users.
First, the proposal would identify five circumstances when FICC
would assess if an EPN User should retain access to the EPN Service:
(i) If an EPN User experiences a Reportable Event; \14\ (ii) if an EPN
User fails to maintain the requirements for admission to membership;
\15\ (iii) if an EPN User violates any EPN Rule or other agreement with
FICC; (iv) if an EPN User fails to satisfy any obligation to FICC in a
timely manner; or (v) if FICC otherwise deems it necessary or
advisable, in order to protect FICC, its other EPN Users, or its
creditors or investors, to safeguard securities and funds in the
custody or control of FICC, or to promote the prompt and accurate
processing, clearance or settlement of securities transactions.\16\
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\14\ As part of the proposal, FICC would include ``Reportable
Event'' as a new defined term in the ``Definitions and General
Provisions'' section of the EPN Rules. ``Reportable Event'' would be
defined as ``an event that would effect a change in control of an
EPN User or could have a substantial impact on such EPN User's
business and/or financial condition, including, but not limited to:
(a) Material organizational changes including mergers, acquisitions,
changes in corporate form, name changes, changes in the ownership of
an EPN User or its affiliates, and material changes in management;
and (b) status as a defendant in litigation, which could reasonably
impact the EPN User's financial condition or ability to conduct
business.'' Id. Distinct from any other notification obligations, an
EPN User would be required to submit to FICC written notice of any
Reportable Event at least 90 calendar days prior to the effective
date of such Reportable Event unless the EPN User demonstrates that
(i) the EPN User could not have reasonably done so, and (ii) the EPN
User provided written notice and oral notice to FICC as soon as
possible. Id.
\15\ Such requirements may include, but are not limited to,
operational testing and related reporting requirements that FICC may
imposed from time to time. Notice, 83 FR at 35514.
\16\ Id.
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Second, the proposed ``General Continuance Standards'' section
would state that FICC may require an EPN User to provide written
assurances to FICC.\17\ The proposal would authorize FICC to require
written assurances from an EPN User if FICC has reason to believe that
an EPN User may fail to comply with any of the EPN Rules.\18\
Specifically, FICC could require an EPN User to

[[Page 46531]]

provide written assurances of a credible nature that the EPN User shall
not violate any of the EPN Rules.\19\ These written assurances could
take the specific format of, but would not be limited to such specific
formats, notarized statements, affidavits, and/or officers'
certificates.\20\
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\17\ Id.
\18\ Id.
\19\ FICC has discretion to request that the EPN User's written
assurance references specific timeframes and details. Id.
\20\ Id.
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D. Proposed Clarifying Changes to the EPN Rules

FICC also proposes clarifying corrections to the EPN Rules.
Specifically, the proposal would replace references to ``FICC'' with
``the Corporation'' in the section entitled ``FICC Mortgage-Backed
Securities Division (`MBSD') EPN Schedule of Charges.'' \21\ FICC
states that it proposes this change because ``FICC'' is not a term that
is defined in the EPN Rules.\22\ In addition, FICC proposes to replace
the reference to ``The Depository Trust Corporation'' with ``The
Depository Trust & Clearing Corporation,'' which FICC states is an
erroneous reference.\23\ Additionally, FICC states that to accommodate
the introduction of the new ``General Continuance Standards'' section,
FICC proposes to change the numbering of the existing
``Confidentiality'' provision in EPN Rule 1 (Requirements Applicable to
EPN Users) of Article III (EPN Users) from ``Sec. 8'' to ``Sec. 9.''
\24\
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\21\ Notice, 83 FR at 35513.
\22\ Id.
\23\ Id.
\24\ Notice, 83 FR at 35514.
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II. Discussion and Commission Findings

Section 19(b)(2)(C) of the Act \25\ directs the Commission to
approve a proposed rule change of a self-regulatory organization if it
finds that such proposed rule change is consistent with the
requirements of the Act and rules and regulations thereunder applicable
to such organization. The Commission believes the proposal is
consistent with the Act, specifically Section 17A(b)(3)(F) of the Act,
Rule 17Ad-22(e)(18) under the Act, and Rule 17Ad-22(e)(23)(i) under the
Act, as discussed below.\26\
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\25\ 15 U.S.C. 78s(b)(2)(C).
\26\ 15 U.S.C. 78q-1(b)(3)(F); 17 CFR 240.17Ad-22(20).
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A. Consistency With Section 17A(b)(3)(F)

Section 17A(b)(3)(F) of the Act \27\ requires, inter alia, that the
rules of the clearing agency be designed to promote the prompt and
accurate clearance and settlement of securities transactions.
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\27\ 15 U.S.C. 78q-1(b)(3)(F).
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As described above, FICC proposes to make three changes to the EPN
Rules. First, FICC proposes to add ongoing reporting obligations on EPN
Users. These obligations would require an EPN User to notify FICC
within two business days after the EPN User has, or could, fail to
comply with EPN Service membership requirements. The Commission
believes that codifying an affirmative duty to notify FICC would afford
FICC a better opportunity to take timely action, once notified, to
preserve the EPN Service's functionality, as FICC deemed necessary. By
providing additional means to preserve the functionality of the EPN
Service--a critical component of MBSD's settlement of mortgage-backed
securities--the proposal is designed to promote the prompt and accurate
clearance and settlement of such securities transactions.
Second, as described above, the proposal would identify
circumstances when FICC could reassess an EPN User's access to the EPN
Service. By including a ``Reportable Event,'' as defined by the
proposal, as one of these circumstances, the proposal would allow FICC
to review an EPN User's fitness after learning (i) of an EPN User's
significant corporate event or (ii) an EPN User becoming the subject of
an investigation or proceeding. The proposal also would allow FICC to
require an EPN User to provide written assurances that the EPN User
remains in compliance with the EPN Rules. The Commission believes that
these proposed changes would codify existing practices that help ensure
that FICC can, on its own accord, determine if an EPN User's access to
the EPN Service should be reassessed due to possible threats to the EPN
Service's functionality. By enabling FICC to better protect the EPN
Service, which is essential for MBSD's settlement of mortgage-backed
securities, the proposal is designed to promote the prompt and accurate
clearance and settlement of such securities transactions.
Third, as described above, FICC proposes clarifying changes to the
EPN Rules. The proposed corrections to references in the ``EPN Schedule
of Charges'' and ``Requirements Applicable to EPN Users'' sections of
the EPN Rules would help clarify the EPN Rules for EPN Users.
Similarly, FICC's renumbering of the Rules to accommodate the proposed
``General Continuance Standards'' also would help maintain the clarity
of the EPN Rules for EPN Users. By proposing changes to the EPN Rules
to improve clarity, the Commission believes that the proposed changes
are designed to help EPN Users better understand and remain compliant
with the EPN Rules; thus promoting the prompt and accurate clearance
and settlement of securities transactions.
As each of the aforementioned changes is designed to promote the
prompt and accurate clearance and settlement of securities
transactions, the Commission finds that the proposal is consistent with
the requirements of Section 17A(b)(3)(F).

B. Consistency With Rule 17Ad-22(e)(18)

Rule 17Ad-22(e)(18) under the Act requires, inter alia, a covered
clearing agency \28\ to establish, implement, maintain and enforce
written policies and procedures reasonably designed to monitor
compliance with participation requirements on an ongoing basis.\29\
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\28\ A ``covered clearing agency'' means, among other things, a
clearing agency registered with the Commission under Section 17A of
the Exchange Act (15 U.S.C. 78q-1 et seq.) that is designated
systemically important by the Financial Stability Oversight Counsel
(``FSOC'') pursuant to the Payment, Clearing, and Settlement
Supervision Act of 2010 (12 U.S.C. 5461 et seq.). See 17 CFR
240.17Ad-22(a)(5)-(6). On July 18, 2012, FSOC designated FICC as
systemically important. U.S. Department of the Treasury, ``FSOC
Makes First Designations in Effort to Protect Against Future
Financial Crises,'' available at https://www.treasury.gov/press-center/press-releases/Pages/tg1645.asp. Therefore, FICC is a covered
clearing agency.
\29\ 17 CFR 240.17Ad-22(e)(18).
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As described above, FICC proposes to amend the EPN Rules to (1)
include an EPN User's ongoing reporting obligations, and (2) define
circumstances under which FICC may determine an EPN User's compliance
with the EPN Rules. The Commission believes that these changes would
help ensure that FICC is promptly made aware of the potential need to
reassess an EPN User's access to the EPN Service due to the EPN User's
possible violation of the EPN Rules. As such, the proposed changes are
designed to give FICC the ability to timely monitor an EPN User's
compliance with the EPN Rules. Therefore, the Commission finds that
proposed changes are consistent with Rule 17Ad-22(e)(18).

C. Consistency With Rule 17Ad-22(e)(23)

Rule 17Ad-22(e)(23) under the Act requires, inter alia, a covered
clearing agency to establish, implement, maintain and enforce written
policies and procedures reasonably designed to provide for publicly
disclosing all

[[Page 46532]]

relevant rules and material procedures.\30\
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\30\ 17 CFR 240.17Ad-22(e)(23)(i).
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As described above, the proposed rule changes would amend the EPN
Rules to reflect existing FICC practices. Specifically, the proposed
changes would (1) include an EPN User's ongoing reporting obligations,
(2) define circumstances under which FICC may determine an EPN User's
compliance with the EPN Rules, and (3) make corrections to the EPN
Rules for clarity. As such, the Commission believes these proposed
changes to codify and correct FICC's existing practices in the EPN
Rules would assist in publicly disclosing all relevant and material
procedures regarding the EPN Service.
Therefore, the Commission finds that the proposal is designed to
provide for publicly disclosing all relevant rules and material
procedures, consistent Rule 17Ad-22(e)(23)(i) under the Act.

III. Conclusion

On the basis of the foregoing, the Commission finds that the
proposal is consistent with the requirements of the Act, in particular
the requirements of Section 17A of the Act \31\ and the rules and
regulations thereunder.
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\31\ 15 U.S.C. 78q-1.
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It is therefore ordered, pursuant to Section 19(b)(2) of the Act,
that proposed rule change SR-FICC-2018-005 be, and hereby is,
approved.\32\
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\32\ In approving the proposed rule change, the Commission
considered the proposal's impact on efficiency, competition, and
capital formation. 15 U.S.C. 78c(f).

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\33\
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\33\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-19872 Filed 9-12-18; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 178 / Thursday, September 13, 2018 / Notices 46531

provide written assurances of a credible the prompt and accurate clearance and clarity, the Commission believes that
nature that the EPN User shall not settlement of securities transactions. the proposed changes are designed to
violate any of the EPN Rules.19 These As described above, FICC proposes to help EPN Users better understand and
written assurances could take the make three changes to the EPN Rules. remain compliant with the EPN Rules;
specific format of, but would not be First, FICC proposes to add ongoing thus promoting the prompt and accurate
limited to such specific formats, reporting obligations on EPN Users. clearance and settlement of securities
notarized statements, affidavits, and/or These obligations would require an EPN transactions.
officers’ certificates.20 User to notify FICC within two business
As each of the aforementioned
days after the EPN User has, or could,
D. Proposed Clarifying Changes to the changes is designed to promote the
fail to comply with EPN Service
EPN Rules prompt and accurate clearance and
membership requirements. The
FICC also proposes clarifying settlement of securities transactions, the
Commission believes that codifying an
corrections to the EPN Rules. Commission finds that the proposal is
affirmative duty to notify FICC would
Specifically, the proposal would replace consistent with the requirements of
afford FICC a better opportunity to take
references to ‘‘FICC’’ with ‘‘the Section 17A(b)(3)(F).
timely action, once notified, to preserve
Corporation’’ in the section entitled the EPN Service’s functionality, as FICC B. Consistency With Rule 17Ad–
‘‘FICC Mortgage-Backed Securities deemed necessary. By providing 22(e)(18)
Division (‘MBSD’) EPN Schedule of additional means to preserve the
Charges.’’ 21 FICC states that it proposes functionality of the EPN Service—a Rule 17Ad–22(e)(18) under the Act
this change because ‘‘FICC’’ is not a critical component of MBSD’s requires, inter alia, a covered clearing
term that is defined in the EPN Rules.22 settlement of mortgage-backed agency 28 to establish, implement,
In addition, FICC proposes to replace securities—the proposal is designed to maintain and enforce written policies
the reference to ‘‘The Depository Trust promote the prompt and accurate and procedures reasonably designed to
Corporation’’ with ‘‘The Depository clearance and settlement of such monitor compliance with participation
Trust & Clearing Corporation,’’ which securities transactions. requirements on an ongoing basis.29
FICC states is an erroneous reference.23 Second, as described above, the As described above, FICC proposes to
Additionally, FICC states that to proposal would identify circumstances amend the EPN Rules to (1) include an
accommodate the introduction of the when FICC could reassess an EPN EPN User’s ongoing reporting
new ‘‘General Continuance Standards’’ User’s access to the EPN Service. By obligations, and (2) define
section, FICC proposes to change the including a ‘‘Reportable Event,’’ as circumstances under which FICC may
numbering of the existing defined by the proposal, as one of these determine an EPN User’s compliance
‘‘Confidentiality’’ provision in EPN Rule circumstances, the proposal would with the EPN Rules. The Commission
1 (Requirements Applicable to EPN allow FICC to review an EPN User’s believes that these changes would help
Users) of Article III (EPN Users) from fitness after learning (i) of an EPN User’s ensure that FICC is promptly made
‘‘Sec. 8’’ to ‘‘Sec. 9.’’ 24 significant corporate event or (ii) an aware of the potential need to reassess
EPN User becoming the subject of an an EPN User’s access to the EPN Service
II. Discussion and Commission
investigation or proceeding. The due to the EPN User’s possible violation
Findings
proposal also would allow FICC to of the EPN Rules. As such, the proposed
Section 19(b)(2)(C) of the Act 25 require an EPN User to provide written
directs the Commission to approve a changes are designed to give FICC the
assurances that the EPN User remains in ability to timely monitor an EPN User’s
proposed rule change of a self- compliance with the EPN Rules. The
regulatory organization if it finds that compliance with the EPN Rules.
Commission believes that these
such proposed rule change is consistent Therefore, the Commission finds that
proposed changes would codify existing
with the requirements of the Act and proposed changes are consistent with
practices that help ensure that FICC can,
rules and regulations thereunder Rule 17Ad–22(e)(18).
on its own accord, determine if an EPN
applicable to such organization. The User’s access to the EPN Service should C. Consistency With Rule 17Ad–
Commission believes the proposal is be reassessed due to possible threats to 22(e)(23)
consistent with the Act, specifically the EPN Service’s functionality. By
Section 17A(b)(3)(F) of the Act, Rule enabling FICC to better protect the EPN Rule 17Ad–22(e)(23) under the Act
17Ad–22(e)(18) under the Act, and Rule Service, which is essential for MBSD’s requires, inter alia, a covered clearing
17Ad–22(e)(23)(i) under the Act, as settlement of mortgage-backed agency to establish, implement,
discussed below.26 securities, the proposal is designed to maintain and enforce written policies
A. Consistency With Section promote the prompt and accurate and procedures reasonably designed to
17A(b)(3)(F) clearance and settlement of such provide for publicly disclosing all
securities transactions.
Section 17A(b)(3)(F) of the Act 27 Third, as described above, FICC 28 A ‘‘covered clearing agency’’ means, among
requires, inter alia, that the rules of the proposes clarifying changes to the EPN other things, a clearing agency registered with the
clearing agency be designed to promote Rules. The proposed corrections to Commission under Section 17A of the Exchange
Act (15 U.S.C. 78q–1 et seq.) that is designated
19 FICC has discretion to request that the EPN
references in the ‘‘EPN Schedule of systemically important by the Financial Stability
User’s written assurance references specific
Charges’’ and ‘‘Requirements Applicable Oversight Counsel (‘‘FSOC’’) pursuant to the
timeframes and details. Id. to EPN Users’’ sections of the EPN Rules Payment, Clearing, and Settlement Supervision Act
20 Id. would help clarify the EPN Rules for of 2010 (12 U.S.C. 5461 et seq.). See 17 CFR
daltland on DSKBBV9HB2PROD with NOTICES

240.17Ad–22(a)(5)–(6). On July 18, 2012, FSOC
21 Notice, 83 FR at 35513.
EPN Users. Similarly, FICC’s designated FICC as systemically important. U.S.
22 Id.
renumbering of the Rules to Department of the Treasury, ‘‘FSOC Makes First
23 Id.
24 Notice, 83 FR at 35514.
accommodate the proposed ‘‘General Designations in Effort to Protect Against Future
Continuance Standards’’ also would Financial Crises,’’ available at https://
25 15 U.S.C. 78s(b)(2)(C). www.treasury.gov/press-center/press-releases/
26 15 U.S.C. 78q–1(b)(3)(F); 17 CFR 240.17Ad– help maintain the clarity of the EPN Pages/tg1645.asp. Therefore, FICC is a covered
22(20). Rules for EPN Users. By proposing clearing agency.
27 15 U.S.C. 78q–1(b)(3)(F). changes to the EPN Rules to improve 29 17 CFR 240.17Ad–22(e)(18).

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46532 Federal Register / Vol. 83, No. 178 / Thursday, September 13, 2018 / Notices

relevant rules and material Incident: Flooding. SMALL BUSINESS ADMINISTRATION
procedures.30 Incident Period: 04/12/2018 through
As described above, the proposed rule 05/06/2018. [Disaster Declaration #15684 and #15685;
changes would amend the EPN Rules to Havasupai Tribe Disaster Number AZ–
reflect existing FICC practices. DATES: Issued on 08/30/2018. 00056]
Specifically, the proposed changes Physical Loan Application Deadline
would (1) include an EPN User’s Date: 10/29/2018. Presidential Declaration of a Major
ongoing reporting obligations, (2) define Disaster for Public Assistance Only for
circumstances under which FICC may Economic Injury (EIDL) Loan the Havasupai Tribe
determine an EPN User’s compliance Application Deadline Date: 05/30/2019.
with the EPN Rules, and (3) make AGENCY: U.S. Small Business
ADDRESSES: Submit completed loan Administration.
corrections to the EPN Rules for clarity. applications to: U.S. Small Business
As such, the Commission believes these ACTION: Notice.
Administration, Processing and
proposed changes to codify and correct Disbursement Center, 14925 Kingsport SUMMARY: This is a Notice of the
FICC’s existing practices in the EPN Road, Fort Worth, TX 76155. Presidential declaration of a major
Rules would assist in publicly
FOR FURTHER INFORMATION CONTACT: A. disaster for Public Assistance Only for
disclosing all relevant and material
Escobar, Office of Disaster Assistance, the Havasupai Tribe (FEMA—4389—
procedures regarding the EPN Service.
U.S. Small Business Administration, DR), dated 08/31/2018.
Therefore, the Commission finds that
409 3rd Street SW, Suite 6050, Incident: Severe Storms, Flooding,
the proposal is designed to provide for
and Landslides.
publicly disclosing all relevant rules Washington, DC 20416, (202) 205–6734.
Incident Period: 07/11/2018 through
and material procedures, consistent
SUPPLEMENTARY INFORMATION: Notice is 07/12/2018.
Rule 17Ad–22(e)(23)(i) under the Act.
hereby given that as a result of the DATES: Issued on 08/31/2018.
III. Conclusion President’s major disaster declaration on Physical Loan Application Deadline
On the basis of the foregoing, the 08/30/2018, Private Non-Profit Date: 10/30/2018.
Commission finds that the proposal is organizations that provide essential Economic Injury (EIDL) Loan
consistent with the requirements of the services of a governmental nature may Application Deadline Date: 05/31/2019.
Act, in particular the requirements of file disaster loan applications at the ADDRESSES: Submit completed loan
Section 17A of the Act 31 and the rules address listed above or other locally applications to: U.S. Small Business
and regulations thereunder. announced locations. Administration, Processing and
It is therefore ordered, pursuant to The following areas have been Disbursement Center, 14925 Kingsport
Section 19(b)(2) of the Act, that determined to be adversely affected by Road, Fort Worth, TX 76155.
proposed rule change SR–FICC–2018– the disaster: FOR FURTHER INFORMATION CONTACT: A.
005 be, and hereby is, approved.32 Escobar, Office of Disaster Assistance,
Primary Counties: Blaine, Hill, Liberty, U.S. Small Business Administration,
For the Commission, by the Division of
Trading and Markets, pursuant to delegated Pondera, Toole, Valley. 409 3rd Street SW, Suite 6050,
authority.33 The Interest Rates are: Washington, DC 20416, (202) 205–6734.
Eduardo A. Aleman, SUPPLEMENTARY INFORMATION: Notice is
Assistant Secretary. Percent hereby given that as a result of the
[FR Doc. 2018–19872 Filed 9–12–18; 8:45 am] President’s major disaster declaration on
For Physical Damage:
BILLING CODE 8011–01–P 08/31/2018, Private Non-Profit
Non-Profit Organizations with
organizations that provide essential
Credit Available Elsewhere ... 2.500
Non-Profit Organizations with-
services of a governmental nature may
SMALL BUSINESS ADMINISTRATION out Credit Available Else- file disaster loan applications at the
[Disaster Declaration #15680 and #15681; where ..................................... 2.500 address listed above or other locally
For Economic Injury: announced locations.
Montana Disaster Number MT–00116]
Non-Profit Organizations with- The following areas have been
Presidential Declaration of a Major out Credit Available Else- determined to be adversely affected by
Disaster for Public Assistance Only for where ..................................... 2.500 the disaster:
the State of Montana Primary Area: Havasupai Tribe
The number assigned to this disaster The Interest Rates are:
AGENCY: U.S. Small Business for physical damage is 156806 and for
Administration. economic injury is 156810. Percent
ACTION: Notice.
(Catalog of Federal Domestic Assistance For Physical Damage:
SUMMARY: This is a Notice of the Number 59008) Non-Profit Organizations with
Presidential declaration of a major Credit Available Elsewhere ... 2.500
James Rivera, Non-Profit Organizations with-
disaster for Public Assistance Only for
Associate Administrator for Disaster out Credit Available Else-
the State of Montana (FEMA–4388–DR),
Assistance. where ..................................... 2.500
dated 08/30/2018. For Economic Injury:
daltland on DSKBBV9HB2PROD with NOTICES

[FR Doc. 2018–19937 Filed 9–12–18; 8:45 am]
Non-Profit Organizations with-
30 17 CFR 240.17Ad–22(e)(23)(i). BILLING CODE 8025–01–P
out Credit Available Else-
31 15 U.S.C. 78q–1. where ..................................... 2.500
32 In approving the proposed rule change, the

Commission considered the proposal’s impact on
efficiency, competition, and capital formation. 15 The number assigned to this disaster
U.S.C. 78c(f). for physical damage is 156846 and for
33 17 CFR 200.30–3(a)(12). economic injury is 156850.

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Document Created: 2018-09-13 01:01:37
Document Modified: 2018-09-13 01:01:37

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		83 FR 46530