[Federal Register Volume 66, Number 194 (Friday, October 5, 2001)]
[Notices]
[Page 51077]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-24980]


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SECURITIES AND EXCHANGE COMMISSION

[Securities Exchange Act of 1934 Release No. 44871]


Order Regarding Government Securities Reconciliations

September 28, 2001.
    Section 36 of the Securities Exchange Act of 1934 (``Exchange 
Act'') authorizes the Commission, by rule, regulation, or order, to 
conditionally or unconditionally exempt any person, security, or 
transaction, or any class or classes of persons, securities, or 
transactions, from any provision or provisions of the Exchange Act or 
any rule or regulation thereunder, to the extent that such exemption is 
necessary or appropriate in the public interest, and is consistent with 
the protection of investors. In light of the events of September 11, 
2001, the Commission has determined to provide broker-dealers with 
further relief under Exchange Act Rules 15c3-1 and 15c3-3 to facilitate 
the orderly reconciliation of transactions in government securities. 
Accordingly,
    It is ordered, pursuant to Section 36 of the Exchange Act, that,
    Broker-dealers need not consider the days September 24, 2001 
through October 5, 2001, inclusive, as business or calendar days for 
purposes of taking deductions, when computing net capital under Rule 
15c3-1 or for purposes of determining the amount of cash and/or 
qualified securities required to be maintained in a ``Special Reserve 
Bank Account for the Exclusive Benefit of Customers'' in accordance 
with the formula set forth in Exhibit A to Rule 15c3-3, arising from 
aged fail transactions in government securities and unresolved 
reconciliation differences with accounts or clearing corporations or 
depositories involving government securities.

    By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-24980 Filed 10-4-01; 8:45 am]
BILLING CODE 8010-01-M