Notice2023-02715
Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Concerning the Options Clearing Corporation's Collateral Haircuts and Standards for Clearing Banks and Letters of Credit
Primary source
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Published
February 9, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 27 (Thursday, February 9, 2023)</title>
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[Federal Register Volume 88, Number 27 (Thursday, February 9, 2023)]
[Notices]
[Page 8505]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-02715]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-96797; File No. SR-OCC-2022-012]
Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Designation of Longer Period for Commission Action on
Proposed Rule Change Concerning the Options Clearing Corporation's
Collateral Haircuts and Standards for Clearing Banks and Letters of
Credit
February 3, 2023.
On December 5, 2022, The Options Clearing Corporation (``OCC'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change SR-OCC-2022-012 (``Proposed Rule Change'')
pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Exchange Act''),\1\ and Rule 19b-4 thereunder \2\ to change rules,
policies, and procedures regarding collateral haircuts, minimum
standards for clearing banks and letter-of-credit issuers, and
concentration limits for letters of credit.\3\ The Proposed Rule Change
was published for public comment in the Federal Register on December
23, 2022.\4\ The Commission has received comments regarding the
proposal in the Proposed Rule Change.\5\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Notice of Filing infra note 4, 87 FR at 79015.
\4\ Securities Exchange Act Release No. 96533 (Dec. 19, 2022),
87 FR 79015 (Dec. 23, 2022) (File No. SR-OCC-2022-012) (``Notice of
Filing'').
\5\ Comments on the Proposed Rule Change are available at
<a href="https://www.sec.gov/comments/sr-occ-2022-012/srocc2022012.htm">https://www.sec.gov/comments/sr-occ-2022-012/srocc2022012.htm</a>.
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Section 19(b)(2) of the Exchange Act \6\ provides that, within 45
days of the publication of notice of the filing of a proposed rule
change, or within such longer period up to 90 days as the Commission
may designate if it finds such longer period to be appropriate and
publishes its reasons for so finding, or as to which the self-
regulatory organization consents, the Commission shall either approve
the proposed rule change, disapprove the proposed rule change, or
institute proceedings to determine whether the proposed rule change
should be disapproved. The 45th day after publication of the Notice of
Filing is February 6, 2023. The Commission is extending this 45-day
time period.
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\6\ 15 U.S.C. 78s(b)(2).
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In order to provide the Commission with sufficient time to consider
the Proposed Rule Change, the Commission finds that it is appropriate
to designate a longer period within which to take action on the
Proposed Rule Change.
Accordingly, the Commission, pursuant to section 19(b)(2) of the
Exchange Act,\7\ designates March 23, 2023 as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove proposed rule change SR-OCC-2022-
012.
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\7\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(94).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-02715 Filed 2-8-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on February 9, 2023.
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