[Federal Register Volume 89, Number 58 (Monday, March 25, 2024)]
[Notices]
[Pages 20716-20717]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-06166]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-99769; File No. SR-FICC-2024-003]


Self-Regulatory Organizations; Fixed Income Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change To Adopt a Minimum Margin Amount at GSD

March 19, 2024.
    On February 27, 2024, Fixed Income Clearing Corporation (``FICC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-FICC-2024-003 (``Proposed Rule Change'') 
pursuant to Section 19(b) of the Securities Exchange Act of 1934 
(``Exchange Act'') \1\ and Rule 19b-4 \2\ thereunder to modify the 
FICC's Government Securities Division (``GSD'') Rulebook (``GSD 
Rules'') to incorporation a Minimum Margin Amount into the GSD margin 
methodology.\3\ The Proposed Rule Change was published for public 
comment in the Federal Register on March 15, 2024.\4\ The Commission 
has received no comments regarding the Proposed Rule Change.
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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, at 89 FR 18991.
    \4\ Securities Exchange Act Release No. 99710 (March 11, 2024), 
89 FR 18991 (March 15, 2024) (File No. SR-FICC-2024-003) (``Notice 
of Filing''). FICC also filed a related advance notice (SR-FICC-
2024-801) (``Advance Notice'') with the Commission pursuant to 
Section 806(e)(1) of Title VIII of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act, entitled the Payment, Clearing, and 
Settlement Supervision Act of 2010 and Rule 19b-4(n)(1)(i) under the 
Exchange Act. 12 U.S.C. 5465(e)(1). 15 U.S.C. 78s(b)(1) and 17 CFR 
240.19b-4, respectively. The Advance Notice was published in the 
Federal Register on March 15, 2024. Securities Exchange Act Release 
No. 99712 (March 11, 2024), 89 FR (March 15, 2024) (File No. SR-
FICC-2024-801).
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    Section 19(b)(2)(i) of the Exchange Act \5\ provides that, within 
45 days of the publication of notice of the filing of a proposed rule 
change, 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 unless 
the Commission extends the period within which it must act as provided 
in section 19(b)(2)(ii) of the Exchange Act.\6\ Section 19(b)(2)(ii) of 
the Exchange Act allows the Commission to designate a longer period for 
review (up to 90 days from the publication of notice of the filing of a 
proposed rule change) if the Commission finds such longer period to be 
appropriate and publishes its reasons for so finding, or as to which 
the self-regulatory organization consents.\7\
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    \5\ 15 U.S.C. 78s(b)(2)(i).
    \6\ 15 U.S.C. 78s(b)(2)(ii).
    \7\ Id.
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    The 45th day after publication of the Notice of Filing is April 29, 
2024. 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 and therefore is extending this 45-day time 
period.
    Accordingly, the Commission, pursuant to section 19(b)(2) of the 
Exchange Act,\8\ designates June 13, 2024, as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove

[[Page 20717]]

proposed rule change SR-FICC-2024-003.
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    \8\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-06166 Filed 3-22-24; 8:45 am]
BILLING CODE 8011-01-P