Notice2026-17421
Order Making Fiscal Year 2027 Annual Adjustments to Registration Fee Rates
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
August 26, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 164 (Wednesday, August 26, 2026)</title>
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[Federal Register Volume 91, Number 164 (Wednesday, August 26, 2026)]
[Notices]
[Pages 55138-55143]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-17421]
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SECURITIES AND EXCHANGE COMMISSION
[Release Nos. 33-11436; 34-106170]
Order Making Fiscal Year 2027 Annual Adjustments to Registration
Fee Rates
August 21, 2026.
I. Background
The Commission collects fees under various provisions of the
securities laws. Section 6(b) of the Securities Act of 1933
(``Securities Act'') requires the Commission to collect fees from
issuers on the registration of securities.\1\ Section 13(e) of the
Securities Exchange Act of 1934 (``Exchange Act'') requires the
Commission to collect fees on specified purchases of securities.\2\
Section 14(g) of the Exchange Act requires the Commission to collect
fees on specified proxy solicitations and specified tender offers.\3\
These provisions require the Commission to make annual adjustments to
the applicable fee rates.
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\1\ 15 U.S.C. 77f(b).
\2\ 15 U.S.C. 78m(e). Per section 13(e)(2), a purchase by or for
the issuer or any person controlling, controlled by, or under common
control with the issuer, or a purchase subject to control of the
issuer or any such person, shall be deemed to be a purchase by the
issuer for some or all purposes of section 13(e)(1).
\3\ 15 U.S.C. 78n(g).
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II. Fiscal Year 2027 Annual Adjustment to Fee Rates
Section 6(b)(2) of the Securities Act requires the Commission to
make an annual adjustment to the fee rate applicable under section
6(b).\4\ The annual adjustment to the fee rate under section 6(b) of
the Securities Act also sets the annual adjustment to the fee rates
under sections 13(e) and 14(g) of the Exchange Act.\5\
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\4\ 15 U.S.C. 77f(b)(2). The annual adjustments are designed to
adjust the fee rate in a given fiscal year so that, when applied to
the aggregate maximum offering prices at which securities are
proposed to be offered for the fiscal year, it is reasonably likely
to produce total fee collections under section 6(b) equal to the
``target fee collection amount'' required by section 6(b)(6)(A) for
that fiscal year.
\5\ 15 U.S.C. 78m(e)(4) and 15 U.S.C. 78n(g)(4).
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Section 6(b)(2) sets forth the method for determining the annual
adjustment to the fee rate under section 6(b) for fiscal year 2027.
Specifically, the Commission must adjust the fee rate under section
6(b) to a ``rate that, when applied to the baseline estimate of the
aggregate maximum offering prices for [fiscal year 2027], is reasonably
likely to produce aggregate fee collections under [section 6(b)] that
are equal to the target fee collection amount for [fiscal year 2027].''
That is, the adjusted rate is determined by dividing the ``target fee
collection amount'' for fiscal year 2027 by the ``baseline estimate of
the aggregate maximum offering prices'' for fiscal year 2027.
III. Target Fee Collection Amount for FY 2027
The statutory ``target fee collection amount'' for fiscal year 2021
and ``each fiscal year thereafter'' is ``an amount that is equal to the
target fee collection amount for the prior fiscal year, adjusted by the
rate of inflation.'' \6\ Consistent with the fiscal year 2021
calculation, the Commission has determined that it will use an approach
similar to one that it uses to annually adjust civil monetary penalties
by the rate of inflation.\7\ Under this approach, the Commission will
use the year-over-year change, rounded to five decimal places, in the
Consumer Price Index for All Urban Consumers (``CPI-U''), not
seasonally adjusted, in calculating the target fee collection amount,
which is then rounded to the nearest whole dollar. The calculation for
the fiscal year 2027 target fee collection amount is described in more
detail below.
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\6\ 15 U.S.C. 77f(b)(6)(A).
\7\ The Commission annually adjusts for inflation the civil
monetary penalties that can be imposed under the statutes
administered by Commission, as required by the Federal Civil
Penalties Inflation Adjustment Act Improvements Act of 2015,
pursuant to guidance from the Office of Management and Budget
(``OMB''). See OMB Dec. 16, 2019, Memorandum for the Heads of
Executive Departments and Agencies,'' M-20-05, on ``Implementation
of Penalty Inflation Adjustments for 2020, Pursuant to the Federal
Civil Penalties Inflation Adjustment Act Improvements Act of 2015.''
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The most recent CPI-U index value, not seasonally adjusted,
available for use by the Commission at the time this fee rate update
was prepared was for June 2026. This value is 333.952.\8\ The CPI-U
index value, not seasonally adjusted, for June 2025 is 322.561.\9\
Dividing the June 2026 value by the June 2025 value and rounding to
five decimal places yields a multiplier value of 1.03531. Multiplying
the fiscal year 2026 target fee collection amount of $887,800,554 \10\
by the multiplier value of 1.03531 and rounding to the nearest whole
dollar yields a fiscal year 2027 target fee collection amount of
$919,148,792.
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\8\ This value was announced July 14, 2026. See <a href="https://www.bls.gov/news.release/archives/cpi_07142026.htm">https://www.bls.gov/news.release/archives/cpi_07142026.htm</a>.
\9\ See ``Table 1. Consumer Price Index for All Urban Consumers
(CPI-U): U.S. city average, by expenditure category, June 2026'' in
the announcement referenced above.
\10\ See 90 FR 41847, published Aug. 27, 2025 (<a href="https://www.federalregister.gov/documents/2025/08/27/2025-16387/order-making-fiscal-year-2026-annual-adjustments-to-registration-fee-rates">https://www.federalregister.gov/documents/2025/08/27/2025-16387/order-making-fiscal-year-2026-annual-adjustments-to-registration-fee-rates</a>).
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Section 6(b)(6)(B) defines the ``baseline estimate of the aggregate
maximum offering prices'' for fiscal year 2027 as ``the baseline
estimate of the aggregate maximum offering price at which securities
are proposed to be offered pursuant to registration statements filed
with the Commission during [fiscal year 2027] as determined by the
Commission, after consultation with the Congressional Budget Office and
the Office of Management and Budget . . . .''
To make the baseline estimate of the aggregate maximum offering
prices for fiscal year 2027, the Commission is using the methodology it
has used in prior fiscal years and that was developed in consultation
with the Congressional Budget Office and OMB.\11\ Using this
methodology, the Commission determines the ``baseline estimate of the
aggregate maximum
[[Page 55139]]
offering price'' for fiscal year 2027 to be $10,561,145,911,745. Based
on this estimate and the fiscal year 2027 target fee collection amount,
the Commission calculates the fee rate for fiscal 2027 to be $87.00 per
million. This adjusted fee rate applies to section 6(b) of the
Securities Act, as well as to sections 13(e) and 14(g) of the Exchange
Act.
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\11\ Appendix A explains how we determined the ``baseline
estimate of the aggregate maximum offering prices'' for fiscal year
2027 using our methodology, and then shows the arithmetical process
of calculating the fiscal year 2027 annual adjustment based on that
estimate. The appendix includes the data used by the Commission in
making its ``baseline estimate of the aggregate maximum offering
prices'' for fiscal year 2027.
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IV. Effective Dates of the Annual Adjustments
The fiscal year 2027 annual adjustments to the fee rates applicable
under section 6(b) of the Securities Act and sections 13(e) and 14(g)
of the Exchange Act will be effective on October 1, 2026.\12\
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\12\ 15 U.S.C. 77f(b)(4), 15 U.S.C. 78m(e)(6), and 15 U.S.C.
78n(g)(6).
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V. Conclusion
Accordingly, pursuant to section 6(b) of the Securities Act and
sections 13(e) and 14(g) of the Exchange Act,\13\
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\13\ 15 U.S.C. 77f(b), 78m(e), and 78n(g).
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It is hereby ordered that the fee rates applicable under section
6(b) of the Securities Act and sections 13(e) and 14(g) of the Exchange
Act shall be $87.00 per million effective on October 1, 2026.
By the Commission.
Vanessa A. Countryman,
Secretary.
Appendix A
Congress has established a target amount of monies to be
collected from fees charged to issuers based on the value of their
registrations. This appendix provides the formula for determining
such fees, which the Commission adjusts annually. Congress has
mandated that the Commission determine these fees based on the
``aggregate maximum offering prices,'' which measures the aggregate
dollar amount of securities registered with the Commission over the
course of the year (hereafter, ``registrations''). In order to
maximize the likelihood that the amount of monies targeted by
Congress under section 6(b) of the Securities Act of 1933 will be
collected, the fee rate must be set to reflect projected aggregate
maximum offering prices. As a percentage, the fee rate equals the
ratio of the target amounts of monies to the projected aggregate
maximum offering prices.
For 2027, the Commission has estimated the aggregate maximum
offering prices by projecting forward the trend established in the
previous decade. More specifically, an auto-regressive integrated
moving average (``ARIMA'') model was used to forecast the value of
the aggregate maximum offering prices for months subsequent to July
2026, the last month for which the Commission has data on the
aggregate maximum offering prices.
The following sections describe this process in detail.
A. Baseline Estimate of the Aggregate Maximum Offering Prices for
Fiscal Year 2027
First, calculate the aggregate maximum offering prices (AMOP)
for each month in the sample (July 2016 through July 2026). Next,
calculate the percentage change in the AMOP from month to month.
Model the monthly percentage change in AMOP as a first order
moving average process. The moving average approach allows one to
model the effect that an exceptionally high (or low) observation of
AMOP tends to be followed by a more ``typical'' value of
AMOP.[FEDREG][VOL]*[/VOL][NO]*[/NO][DATE]*[/
DATE][NOTICES][NOTICE][PREAMB][AGENCY]*[/AGENCY][SUBJECT]*[/
SUBJECT][/PREAMB][SUPLINF][HED]*[/HED][EXTRACT][P]*[/P]
Use the [estimated moving average] [ARIMA] model to forecast the
monthly percent change in AMOP. These percent changes can then be
applied to obtain forecasts of the total dollar value of
registrations. The following is a more formal (mathematical)
description of the procedure:
1. Begin with the monthly data for AMOP. The sample spans ten
years, from July 2016 to July 2026.
2. Divide each month's AMOP (column C) by the number of trading
days in that month (column B) to obtain the average daily AMOP
(AAMOP, column D).
3. For each month t, the natural logarithm of AAMOP is reported
in column E.
4. Calculate the change in log(AAMOP) from the previous month as
[Delta]<INF>t</INF> = log (AAMOP<INF>t</INF>)-
log(AAMOP<INF>t-1</INF>). This approximates the percentage change.
5. Estimate the first order moving average model
[Delta]<INF>t</INF> = [alpha] + [beta]e<INF>t-1</INF> +
e<INF>t</INF>, where e<INF>t</INF> denotes the forecast error for
month t. The forecast error is simply the difference between the
one-month ahead forecast and the actual realization of
[Delta]<INF>t</INF>. The forecast error is expressed as
e<INF>t</INF> = [Delta]<INF>t</INF>-[alpha]-[beta]e<INF>t-1</INF>.
The model can be estimated using standard commercially available
software. Using least squares, the estimated parameter values are
[alpha] = 0.0068155346 and [beta] = 0. 8765268141.
6. For the month of August 2026 forecast
[Delta]<INF>t = 8/2026</INF> = [alpha] +
[beta]e<INF>t = 7/2026</INF>. For all subsequent months, forecast
[Delta]<INF>t</INF> = [alpha].
7. Calculate forecasts of log(AAMOP). For example, the forecast
of log(AAMOP) for October 2026 is given by FLAAMOP
<INF>t = 10/2026</INF> = log(AAMOP <INF>t = 7/2026</INF>) + [Delta]
<INF>t = 8/2026</INF> + [Delta]<INF>t = 9/2026</INF> +
[Delta]<INF>t = 10/2026</INF>.
8. Under the assumption that e<INF>t</INF> is normally
distributed, the n-step ahead forecast of AAMOP is given by
exp(FLAAMOP<INF>t</INF> + [sigma]<INF>n</INF>\2\/2), where
[sigma]<INF>n</INF> denotes the standard error of the n-step ahead
forecast.
9. For October 2026, this gives a forecast AAMOP of $40,077
million (Column I), and a forecast AMOP of $881,684 million (Column
J).
10. Iterate this process through September 2027 to obtain a
baseline estimate of the aggregate maximum offering prices for
fiscal year 2027 of $10,561,145,911,745.
B. Using the Forecasts From A To Calculate the New Fee Rate
1. Using the data from Table A, estimate the aggregate maximum
offering prices between 10/01/26 and 9/30/27 to be
$10,561,145,911,745.
2. The rate necessary to collect the target $919,148,792 in fee
revenues required by section 6(b) of the Securities Act is then
calculated as: $919,148,792 / $10,561,145,911,745 = 0.0000870312.
3. Round the result to the seventh decimal point, yielding a
rate of 0.0000870 (or $87.00 per million).
Table A--Estimation of Baseline of Aggregate Maximum Offering Prices
[Fee rate calculations]
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a. Baseline estimate of the aggregate maximum offering 10,561,146
prices, 10/01/26 to 09/30/27 ($Millions)...............
b. Implied fee rate ($919,148,792/a).................... $87.00
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(D) Average
(C) daily (J)
(B) Number Aggregate aggregate (I) Forecast
of trading maximum max. (E) (F) Log (G) (H) Forecast aggregate
(A) Month days in offering offering log(AAMOP) (change in Forecast Standard AAMOP, in maximum
month prices, in prices AAMOP) log(AAMOP) error $millions offering
$millions (AAMOP) in prices, in
$millions $millions
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Jul-16............................. 20 289,671 14,484 23.396 ........... ........... ........... ........... ...........
Aug-16............................. 23 352,068 15,307 23.452 0.055 ........... ........... ........... ...........
Sep-16............................. 21 326,116 15,529 23.466 0.014 ........... ........... ........... ...........
Oct-16............................. 21 266,115 12,672 23.263 -0.203 ........... ........... ........... ...........
Nov-16............................. 21 443,034 21,097 23.772 0.510 ........... ........... ........... ...........
Dec-16............................. 21 310,614 14,791 23.417 -0.355 ........... ........... ........... ...........
Jan-17............................. 20 503,030 25,152 23.948 0.531 ........... ........... ........... ...........
Feb-17............................. 19 255,815 13,464 23.323 -0.625 ........... ........... ........... ...........
[[Page 55140]]
Mar-17............................. 23 723,870 31,473 24.172 0.849 ........... ........... ........... ...........
Apr-17............................. 19 255,275 13,436 23.321 -0.851 ........... ........... ........... ...........
May-17............................. 22 569,965 25,908 23.978 0.657 ........... ........... ........... ...........
Jun-17............................. 22 445,081 20,231 23.730 -0.247 ........... ........... ........... ...........
Jul-17............................. 20 291,167 14,558 23.401 -0.329 ........... ........... ........... ...........
Aug-17............................. 23 263,981 11,477 23.164 -0.238 ........... ........... ........... ...........
Sep-17............................. 20 372,705 18,635 23.648 0.485 ........... ........... ........... ...........
Oct-17............................. 22 173,749 7,898 22.790 -0.858 ........... ........... ........... ...........
Nov-17............................. 21 377,262 17,965 23.612 0.822 ........... ........... ........... ...........
Dec-17............................. 20 281,126 14,056 23.366 -0.245 ........... ........... ........... ...........
Jan-18............................. 21 593,025 28,239 24.064 0.698 ........... ........... ........... ...........
Feb-18............................. 19 353,182 18,589 23.646 -0.418 ........... ........... ........... ...........
Mar-18............................. 21 685,784 32,656 24.209 0.563 ........... ........... ........... ...........
Apr-18............................. 21 367,569 17,503 23.586 -0.624 ........... ........... ........... ...........
May-18............................. 22 543,840 24,720 23.931 0.345 ........... ........... ........... ...........
Jun-18............................. 21 477,967 22,760 23.848 -0.083 ........... ........... ........... ...........
Jul-18............................. 21 327,710 15,605 23.471 -0.377 ........... ........... ........... ...........
Aug-18............................. 23 347,239 15,097 23.438 -0.033 ........... ........... ........... ...........
Sep-18............................. 19 259,874 13,678 23.339 -0.099 ........... ........... ........... ...........
Oct-18............................. 23 300,814 13,079 23.294 -0.045 ........... ........... ........... ...........
Nov-18............................. 21 447,767 21,322 23.783 0.489 ........... ........... ........... ...........
Dec-18............................. 19 276,130 14,533 23.400 -0.383 ........... ........... ........... ...........
Jan-19............................. 21 495,624 23,601 23.885 0.485 ........... ........... ........... ...........
Feb-19............................. 19 372,166 19,588 23.698 -0.186 ........... ........... ........... ...........
Mar-19............................. 21 604,813 28,801 24.084 0.385 ........... ........... ........... ...........
Apr-19............................. 21 267,737 12,749 23.269 -0.815 ........... ........... ........... ...........
May-19............................. 22 476,892 21,677 23.800 0.531 ........... ........... ........... ...........
Jun-19............................. 20 399,178 19,959 23.717 -0.083 ........... ........... ........... ...........
Jul-19............................. 22 359,438 16,338 23.517 -0.200 ........... ........... ........... ...........
Aug-19............................. 22 401,391 18,245 23.627 0.110 ........... ........... ........... ...........
Sep-19............................. 20 382,876 19,144 23.675 0.048 ........... ........... ........... ...........
Oct-19............................. 23 181,113 7,874 22.787 -0.888 ........... ........... ........... ...........
Nov-19............................. 20 553,889 27,694 24.044 1.258 ........... ........... ........... ...........
Dec-19............................. 21 438,062 20,860 23.761 -0.283 ........... ........... ........... ...........
Jan-20............................. 21 636,403 30,305 24.135 0.373 ........... ........... ........... ...........
Feb-20............................. 19 424,133 22,323 23.829 -0.306 ........... ........... ........... ...........
Mar-20............................. 22 409,403 18,609 23.647 -0.182 ........... ........... ........... ...........
Apr-20............................. 21 389,821 18,563 23.644 -0.002 ........... ........... ........... ...........
May-20............................. 20 731,835 36,592 24.323 0.679 ........... ........... ........... ...........
Jun-20............................. 22 650,219 29,555 24.110 -0.214 ........... ........... ........... ...........
Jul-20............................. 22 457,871 20,812 23.759 -0.351 ........... ........... ........... ...........
Aug-20............................. 21 465,953 22,188 23.823 0.064 ........... ........... ........... ...........
Sep-20............................. 21 435,323 20,730 23.755 -0.068 ........... ........... ........... ...........
Oct-20............................. 22 429,638 19,529 23.695 -0.060 ........... ........... ........... ...........
Nov-20............................. 20 849,894 42,495 24.473 0.777 ........... ........... ........... ...........
Dec-20............................. 22 493,133 22,415 23.833 -0.640 ........... ........... ........... ...........
Jan-21............................. 19 753,590 39,663 24.404 0.571 ........... ........... ........... ...........
Feb-21............................. 19 785,163 41,324 24.445 0.041 ........... ........... ........... ...........
Mar-21............................. 23 960,806 41,774 24.456 0.011 ........... ........... ........... ...........
Apr-21............................. 21 430,803 20,514 23.744 -0.711 ........... ........... ........... ...........
May-21............................. 20 759,512 37,976 24.360 0.616 ........... ........... ........... ...........
Jun-21............................. 22 512,966 23,317 23.872 -0.488 ........... ........... ........... ...........
Jul-21............................. 21 485,097 23,100 23.863 -0.009 ........... ........... ........... ...........
Aug-21............................. 22 608,745 27,670 24.044 0.181 ........... ........... ........... ...........
Sep-21............................. 21 565,229 26,916 24.016 -0.028 ........... ........... ........... ...........
Oct-21............................. 21 338,100 16,100 23.502 -0.514 ........... ........... ........... ...........
Nov-21............................. 21 387,841 18,469 23.639 0.137 ........... ........... ........... ...........
Dec-21............................. 22 618,897 28,132 24.060 0.421 ........... ........... ........... ...........
Jan-22............................. 20 809,773 40,489 24.424 0.364 ........... ........... ........... ...........
Feb-22............................. 19 531,622 27,980 24.055 -0.370 ........... ........... ........... ...........
Mar-22............................. 23 868,009 37,740 24.354 0.299 ........... ........... ........... ...........
Apr-22............................. 20 607,591 30,380 24.137 -0.217 ........... ........... ........... ...........
May-22............................. 21 529,417 25,210 23.951 -0.187 ........... ........... ........... ...........
Jun-22............................. 21 410,380 19,542 23.696 -0.255 ........... ........... ........... ...........
Jul-22............................. 20 364,895 18,245 23.627 -0.069 ........... ........... ........... ...........
Aug-22............................. 23 495,621 21,549 23.794 0.166 ........... ........... ........... ...........
Sep-22............................. 21 371,472 17,689 23.596 -0.197 ........... ........... ........... ...........
Oct-22............................. 21 175,612 8,362 22.847 -0.749 ........... ........... ........... ...........
Nov-22............................. 21 362,262 17,251 23.571 0.724 ........... ........... ........... ...........
Dec-22............................. 21 311,922 14,853 23.421 -0.150 ........... ........... ........... ...........
Jan-23............................. 20 484,759 24,238 23.911 0.490 ........... ........... ........... ...........
Feb-23............................. 19 700,233 36,854 24.330 0.419 ........... ........... ........... ...........
Mar-23............................. 23 775,232 33,706 24.241 -0.089 ........... ........... ........... ...........
Apr-23............................. 19 310,952 16,366 23.518 -0.722 ........... ........... ........... ...........
May-23............................. 22 574,632 26,120 23.986 0.467 ........... ........... ........... ...........
Jun-23............................. 21 87,686 4,176 22.153 -1.833 ........... ........... ........... ...........
Jul-23............................. 20 778,808 38,940 24.385 2.233 ........... ........... ........... ...........
[[Page 55141]]
Aug-23............................. 23 290,749 12,641 23.260 -1.125 ........... ........... ........... ...........
Sep-23............................. 20 387,612 19,381 23.688 0.427 ........... ........... ........... ...........
Oct-23............................. 22 118,541 5,388 22.407 -1.280 ........... ........... ........... ...........
Nov-23............................. 21 458,187 21,818 23.806 1.399 ........... ........... ........... ...........
Dec-23............................. 20 35,060 1,753 21.285 -2.521 ........... ........... ........... ...........
Jan-24............................. 21 547,780 26,085 23.985 2.700 ........... ........... ........... ...........
Feb-24............................. 20 625,139 31,257 24.166 0.181 ........... ........... ........... ...........
Mar-24............................. 20 1,073,420 53,671 24.706 0.541 ........... ........... ........... ...........
Apr-24............................. 22 330,061 15,003 23.432 -1.275 ........... ........... ........... ...........
May-24............................. 22 769,244 34,966 24.278 0.846 ........... ........... ........... ...........
Jun-24............................. 19 481,093 25,321 23.955 -0.323 ........... ........... ........... ...........
Jul-24............................. 22 465,992 21,181 23.776 -0.178 ........... ........... ........... ...........
Aug-24............................. 22 309,615 14,073 23.368 -0.409 ........... ........... ........... ...........
Sep-24............................. 20 550,284 27,514 24.038 0.670 ........... ........... ........... ...........
Oct-24............................. 23 130,566 5,677 22.460 -1.578 ........... ........... ........... ...........
Nov-24............................. 20 459,941 22,997 23.859 1.399 ........... ........... ........... ...........
Dec-24............................. 21 231,576 11,027 23.124 -0.735 ........... ........... ........... ...........
Jan-25............................. 20 533,650 26,682 24.007 0.884 ........... ........... ........... ...........
Feb-25............................. 19 672,083 35,373 24.289 0.282 ........... ........... ........... ...........
Mar-25............................. 21 1,061,430 50,544 24.646 0.357 ........... ........... ........... ...........
Apr-25............................. 21 408,103 19,433 23.690 -0.956 ........... ........... ........... ...........
May-25............................. 21 622,545 29,645 24.113 0.422 ........... ........... ........... ...........
Jun-25............................. 20 569,873 28,494 24.073 -0.040 ........... ........... ........... ...........
Jul-25............................. 22 479,792 21,809 23.806 -0.267 ........... ........... ........... ...........
Aug-25............................. 21 502,212 23,915 23.898 0.092 ........... ........... ........... ...........
Sep-25............................. 21 710,732 33,844 24.245 0.347 ........... ........... ........... ...........
Oct-25............................. 23 480,586 20,895 23.763 -0.482 ........... ........... ........... ...........
Nov-25............................. 19 968,765 50,988 24.655 0.892 ........... ........... ........... ...........
Dec-25............................. 22 705,571 32,071 24.191 -0.464 ........... ........... ........... ...........
Jan-26............................. 20 790,126 39,506 24.400 0.208 ........... ........... ........... ...........
Feb-26............................. 19 824,441 43,392 24.494 0.094 ........... ........... ........... ...........
Mar-26............................. 22 1,133,172 51,508 24.665 0.171 ........... ........... ........... ...........
Apr-26............................. 21 474,180 22,580 23.840 -0.825 ........... ........... ........... ...........
May-26............................. 20 958,730 47,936 24.593 0.753 ........... ........... ........... ...........
Jun-26............................. 21 845,382 40,256 24.419 -0.175 ........... ........... ........... ...........
Jul-26............................. 22 695,686 31,622 24.177 -0.241 ........... ........... ........... ...........
Aug-26............................. 21 ........... ........... ........... ........... 24.271 0.501 39,383 827,043
Sep-26............................. 21 ........... ........... ........... ........... 24.278 0.505 39,728 834,293
Oct-26............................. 22 ........... ........... ........... ........... 24.285 0.509 40,077 881,684
Nov-26............................. 20 ........... ........... ........... ........... 24.292 0.512 40,428 808,558
Dec-26............................. 22 ........... ........... ........... ........... 24.298 0.516 40,782 897,211
Jan-27............................. 19 ........... ........... ........... ........... 24.305 0.520 41,140 781,657
Feb-27............................. 19 ........... ........... ........... ........... 24.312 0.523 41,501 788,510
Mar-27............................. 22 ........... ........... ........... ........... 24.319 0.527 41,864 921,016
Apr-27............................. 22 ........... ........... ........... ........... 24.326 0.531 42,231 929,090
May-27............................. 20 ........... ........... ........... ........... 24.332 0.534 42,602 852,032
Jun-27............................. 21 ........... ........... ........... ........... 24.339 0.538 42,975 902,477
Jul-27............................. 21 ........... ........... ........... ........... 24.346 0.541 43,352 910,389
Aug-27............................. 22 ........... ........... ........... ........... 24.353 0.545 43,732 962,102
Sep-27............................. 21 ........... ........... ........... ........... 24.360 0.548 44,115 926,421
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BILLING CODE 8011-01-P
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[GRAPHIC] [TIFF OMITTED] TN26AU26.003
[[Page 55143]]
[FR Doc. 2026-17421 Filed 8-25-26; 8:45 am]
BILLING CODE 8011-01-C
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</html>Indexed from Federal Register on August 26, 2026.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.