[Federal Register Volume 70, Number 237 (Monday, December 12, 2005)]
[Rules and Regulations]
[Page 73378]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-55520]



[[Page 73378]]

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DEPARTMENT OF THE TREASURY

17 CFR Part 420


Large Position Reporting

CFR Correction

    In Title 17 of the Code of Federal Regulations, part 240 to end, 
revised as of April 1, 2005, on page 1015, Sec.  420.3 is corrected by 
revising paragraphs (c)(1), (2), and (3) to read as follows:


Sec.  420.3  Reporting.

* * * * *
    (c)(1) In response to a notice issued under paragraph (a) of this 
section requesting large position information, a reporting entity with 
a reportable position that equals or exceeds the specified large 
position threshold stated in the notice shall compile and report the 
amounts of the reporting entity's reportable position in the order 
specified, as follows:
    (i) Net trading position, and each of the following items that 
together comprise the net trading position:
    (A) Cash/immediate net settled positions,
    (B) Net when-issued positions for to-be-issued and reopened issues,
    (C) Net forward settling positions, including next-day settling,
    (D) Net positions in futures contracts requiring delivery of the 
specific security, and
    (E) Net holdings of STRIPS principal components of the specific 
security;
    (ii) Gross financing position and each of the following items that 
comprise the gross financing position:
    (A) Securities received through reverse repurchase agreements by 
maturity classification:
    (1) Overnight and open, and
    (2) Term (report the total dollar amount of the outstanding 
contracts, summing across maturity dates), and
    (B) Securities received through bonds borrowed, and as collateral 
for financial derivatives and other financial transactions.
    (iii) Net fails position; and
    (iv) Total reportable position.
    (2) The large position report must include the following two 
additional memorandum items:
    (i) The total gross par amounts of securities delivered through:
    (A) Repurchase agreements by maturity classification:
    (1) Overnight and open, and
    (2) Term (report the total dollar amount of the outstanding 
contracts, summing across maturity dates), and
    (B) Securities loaned, and as collateral for financial derivatives 
and other securities transactions.
    (ii) The gross par amount of ``fails to deliver'' in the security. 
This total must also be included in Net Fails Position, Line 3.
    (3) An illustration of a sample report is contained in Appendix B.
    Each of the net trading position components shall be netted and 
reported as a positive number (long position), a negative number (short 
position), which should be shown in parenthesis, or zero (flat 
position). The total net trading position shall also be reported as the 
applicable positive or negative number (or zero). Each of the 
components of the gross financing position shall be reported. The total 
gross financing position, which is the sum of the gross financing 
position components, shall also be reported. The net fails position 
should be reported as a single entry. If the amount of the net fails 
position is zero or less, report zero. The total reportable position, 
which is the sum of the net trading position, gross financing position, 
and net fails position, must be reported. Each component of Memorandum 
1 shall be reported. The total of Memorandum 1, which is the sum of its 
components, shall also be reported. Memorandum 2, which is the gross 
par amount of fails to deliver, shall also be reported. All of these 
positions should be reported in the order specified above. All position 
amounts should be reported on a trade date basis and at par in millions 
of dollars.
* * * * *

[FR Doc. 05-55520 Filed 12-9-05; 8:45 am]
BILLING CODE 1505-01-D