60 Day Notice

33950

Federal Register / Vol. 88, No. 101 / Thursday, May 25, 2023 / Notices

17A(b)(3)(F) of the Act,12 and Rule
17Ad–22(e)(16).13
A. Consistency With Section
17A(b)(3)(F) of the Act
Section 17A(b)(3)(F) of the Act
requires, among other things, that the
rules of ICE Clear Europe be designed to
assure the safeguarding of securities and
funds which are in the custody or
control of the clearing agency or for
which it is responsible.14 The proposed
rule change is consistent with section
17A(b)(3)(F) 15 because it improves ICE
Clear Europe’s ability to manage its
investments without subjecting its
investments to significantly greater risk.
The Commission believes that the
changes to the Procedures discussed
above help to improve ICE Clear
Europe’s management of its
investments. As noted above, ICE Clear
Europe’s Procedures prohibit it from
investing its regulatory capital in
permitted investments that have a
maturity greater than ninety days. At
times, this limitation could subject ICE
Clear Europe’s regulatory capital to
reinvestment risk 16 and volatility risk.17
Under the proposed rule change, ICE
Clear Europe can more effectively
utilize investment strategies that would
allow it to mitigate some of this
reinvestment and volatility risk by
purchasing longer term instruments
when appropriate. Such flexibility
could be important in light of current
and expected market conditions,
including to assist ICE Clear Europe in
avoiding having to invest or reinvest in
shorter duration instruments during
potential periods of market volatility.
For the above reasons, the proposed
rule change is consistent with Section
17A(b)(3)(F) of the Act.18
B. Consistency With Rule 17Ad–
22(e)(16) Under the Act
Rule 17Ad–22(e)(16) requires that ICE
Clear Europe establish, implement,
maintain, and enforce, written policies
and procedures reasonably designed to
safeguard its own and its participants’
assets, minimize the risk of loss and
delay in access to these assets, and
invest such assets in instruments with
minimal credit, market, and liquidity
12 15

U.S.C. 78q–1(b)(3)(F).
CFR 240.17Ad–22(e)(16).
14 15 U.S.C. 78q–1(b)(3)(F).
15 15 U.S.C. 78q–1(b)(3)(F).
16 Reinvestment risk is the risk that an investor
will be unable to reinvest assets received from an
investment at a rate comparable to their current rate
of return.
17 Volatility risk in this context, i.e., sovereign
and government agency bonds, refers to the risk that
a bond’s price will fluctuate due to changing
interest rates.
18 15 U.S.C. 78q–1(b)(3)(F).

lotter on DSK11XQN23PROD with NOTICES1

13 17

VerDate Sep<11>2014

18:04 May 24, 2023

Jkt 259001

risks.19 The Commission previously
found that applying the Procedures to
ICE Clear Europe’s regulatory capital
helps ICE Clear Europe to safeguard its
own and its Clearing Members’ assets
and helps ICE Clear Europe to invest
such assets in instruments with minimal
credit, market, and liquidity risks.20 As
discussed above, the Procedures would
continue to apply to ICE Clear Europe’s
regulatory capital, with the only change
being that ICE Clear Europe could invest
its regulatory capital in instruments
with a maturity of up to thirteen
months, rather than ninety days.
Even with this change, the
Commission continues to believe that
ICE Clear Europe would safeguard its
regulatory capital and invest it in
instruments with minimal credit,
market, and liquidity risks. The
Commission believes this to be the case
because investing in instruments with a
maturity of up to thirteen months, rather
than ninety days, could allow ICE Clear
Europe to avoid having to invest or
reinvest in shorter duration instruments
during potential periods of market
volatility. Moreover, the maximum
maturity for regulatory capital would be
the same as what the Commission
previously approved for investments of
cash from Clearing Members and ICE
Clear Europe’s skin in the game.21
For the above reasons, the proposed
rule change is consistent with Rule
17Ad–22(e)(16) under the Act.22
IV. Conclusion
On the basis of the foregoing, the
Commission finds that the Proposed
Rule Change is consistent with the
requirements of the Act, and in
particular, Section 17A(b)(3)(F) of the
Act 23 and Rule 17Ad–22(e)(16)
thereunder.24
19 17

CFR 240.17Ad–22(e)(16).
Organizations; ICE Clear
Europe Limited; Notice of Filing of Partial
Amendment No. 1 and Order Granting Accelerated
Approval of Proposed Rule Change, as Modified by
Partial Amendment No. 1, Relating to the ICE Clear
Europe Investment Management Procedures and
Treasury and Banking Services Policy, Securities
Exchange Act Release No. 89211 (July 1, 2020), 85
FR 41082, 41086 (July 8, 2020) (File No. SR–ICEEU–
2020–002).
21 Id.; Self-Regulatory Organizations; ICE Clear
Europe Limited; Notice of Filing of Partial
Amendment No. 2 and Order Granting Accelerated
Approval of Proposed Rule Change, as Modified by
Partial Amendment No. 1 and Partial Amendment
No. 2, To Revise the ICE Clear Europe Treasury and
Banking Services Policy, Liquidity Management
Procedures, Investment Management Procedures
and Unsecured Credit Limits Procedures, Securities
Exchange Act Release No. 86891 (Sept. 6, 2019), 84
FR 48191 (Sept. 12, 2019) (File No. SR–ICEEU–
2019–012).
22 17 CFR 240.17Ad–22(e)(16).
23 15 U.S.C. 78q–1(b)(3)(F).
24 17 CFR 240.17Ad–22(e)(16).
20 Self-Regulatory

PO 00000

Frm 00091

Fmt 4703

Sfmt 4703

It is therefore ordered pursuant to
section 19(b)(2) of the Act that the
Proposed Rule Change (SR–ICEEU–
2023–009) be, and hereby is,
approved.25
For the Commission by the Division
of Trading and Markets, pursuant to
delegated authority.26
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–11111 Filed 5–24–23; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–21, OMB Control No.
3235–0025]

Proposed Collection; Comment
Request; Extension: Rule 30e–1
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA
Services, 100 F Street NE,
Washington, DC 20549–2736
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘Paperwork
Reduction Act’’), the Securities and
Exchange Commission (the
‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Rule 30e–1 (17 CFR 270.30e–1) under
the Investment Company Act of 1940
(15 U.S.C. 80a–1 et seq.) (‘‘Investment
Company Act’’) generally requires a
registered investment company (‘‘fund’’)
to transmit to its shareholders, at least
semi-annually, reports containing the
information that is required to be
included in such reports by the fund’s
registration statement form under the
Investment Company Act. The purpose
of the collection of information required
by rule 30e–1 is to provide fund
shareholders with current information
about the operation of their funds in
accordance with Section 30 of the
Investment Company Act.
Approximately 11,840 funds, respond
to rule 30e-1 annually.1 We estimate
that it takes approximately 147 hours to
comply with the collection of
information associated with rule 30e–1
25 In approving the Proposed Rule Change, the
Commission considered the proposal’s impacts on
efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
26 17 CFR 200.30–3(a)(12).
1 Includes all open-end funds, including ETFs,
registered on Form N–1A.

E:\FR\FM\25MYN1.SGM

25MYN1

lotter on DSK11XQN23PROD with NOTICES1

Federal Register / Vol. 88, No. 101 / Thursday, May 25, 2023 / Notices
per fund. This time is spent, for
example, preparing, reviewing, and
certifying the reports, as well as the
website availability requirements and
delivery of shareholder reports upon
request requirements. Accordingly, we
calculate the total estimated annual
internal burden of responding to rule
30e–1 to be approximately 1,738,428
hours (146.8 hours × 11,840 funds). In
addition to the burden hours, we
estimate that the total cost burden of
compliance with the information
collection requirements of rule 30e–1 is
approximately $13,105 per fund. This
includes, for example, the cost of goods
and services purchased to prepare,
comply with website availability
requirements, and deliver reports upon
request under the amendments to rule
30e–1, such as for the services of
independent auditors and outside
counsel. Accordingly, we calculate the
total external cost burden associated
with rule 30e–1 to be approximately
$155,164,791.
Estimates of average burden hours are
made solely for the purposes of the
Paperwork Reduction Act and are not
derived from a comprehensive or even
representative survey or study of the
costs of Commission rules and forms.
The collection of information under rule
30e–1 is mandatory. The information
provided under rule 30e–1 will not be
kept confidential. An agency may not
conduct or sponsor, and a person is not
required to respond to, a collection of
information unless it displays a
currently valid OMB control number.
Written comments are invited on: (a)
whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimate of the burden of the collection
of information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
by July 24, 2023.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
Please direct your written comments
to: David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington,

VerDate Sep<11>2014

18:04 May 24, 2023

Jkt 259001

DC 20549 or send an email to: PRA_
[email protected].
Dated: May 22, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–11200 Filed 5–24–23; 8:45 am]
BILLING CODE 8011–01–P

SMALL BUSINESS ADMINISTRATION
Information Collection for State Trade
and Export Promotion (STEP) Grant
Program
U.S. Small Business
Administration.
ACTION: 60-day notice and request for
comments.
AGENCY:

The Small Business
Administration (SBA) intends to request
approval from the Office of Management
and Budget (OMB) for the collection of
information described below. The
Paperwork Reduction Act (PRA) of 1995
requires federal agencies to publish a
notice in the Federal Register
concerning each proposed collection of
information before submission to OMB,
and to allow 60 days for public
comment in response to the notice. This
notice complies with that requirement.
DATES: Submit comments on or before
July 24, 2023.
ADDRESSES: Send all comments to
Shadetra Robinson, STEP Program
Director, Office of International Trade,
Small Business Administration,
Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT:
Shadetra Robinson, STEP Program
Director, Office of International Trade,
Small Business Administration,
[email protected], 202–205–
6725, or Curtis B. Rich, Agency
Clearance Officer, 202–205–7030,
[email protected].
SUPPLEMENTARY INFORMATION: The
primary objective of the STEP Client
Report form is to collect data on the
quarterly progress of grantees of the
SBA’s State Trade and Export
Promotion (STEP) program. These data
will be used to understand how states
have improved their trade and export
activities and revenue. The STEP
program has two primary objectives: (1)
increase the number of small businesses
that are exporting and (2) increase the
value of exports for small businesses
that are currently exporting. To achieve
these objectives, SBA provides statelevel grant recipients with funding for
nine activities, including participation
in foreign trade missions, design of
marketing media, and trade show
exhibitions.
SUMMARY:

PO 00000

Frm 00092

Fmt 4703

Sfmt 4703

33951

Data from the STEP Client Report will
provide SBA with critical information
about the impact of various strategies
used to advance trade and export
activities in each state. These data will
also provide an understanding of the
specific ways in which funded activities
meet SBA’s goal of improving small
business trade and export productivity.
These data may inform strategies that
can be replicated by other small
businesses. These data are not currently
being collected elsewhere and are
critical to understanding the outcomes
of STEP grantee activities.
Solicitation of Public Comments
SBA is requesting comments on (a)
whether the collection of information is
necessary for the agency to properly
perform its functions; (b) whether the
burden estimates are accurate; (c)
whether there are ways to minimize the
burden, including through the use of
automated techniques or other forms of
information technology; and (d) whether
there are ways to enhance the quality,
utility, and clarity of the information.
Summary of Information Collection
OMB Control Number: 3245–0413.
Title: STEP Program Quarterly Client
Reporting Form.
Description of Respondents: State
administrators in states that receive an
SBA STEP grant.
Form Number: N/A.
Total Estimated Annual Responses:
90.
Total Estimated Annual Hour Burden:
360 hours.
Curtis Rich,
Agency Clearance Officer.
[FR Doc. 2023–11150 Filed 5–24–23; 8:45 am]
BILLING CODE 8026–09–P

SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #17932 and #17933;
TENNESSEE Disaster Number TN–00146]

Presidential Declaration of a Major
Disaster for Public Assistance Only for
the State of Tennessee
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:

This is a Notice of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of Tennessee (FEMA–4712–
DR), dated 05/17/2023.
Incident: Severe Storms, Straight-line
Winds, and Tornado.
Incident Period: 03/01/2023 through
03/03/2023.

SUMMARY:

E:\FR\FM\25MYN1.SGM

25MYN1