Federal Register / Vol. 89, No. 6 / Tuesday, January 9, 2024 / Notices 1131 

SUPPLEMENTARY INFORMATION: 

OMB Number: 3133–0102. 

Title: Truth in Lending (TILA); 

Regulation Z. 

Type of Review: Extension of a 

previously approved collection. 

Abstract: The Truth in Lending Act 

(TILA) was enacted to foster comparison 

credit shopping and informed credit 

decision making by requiring accurate 

disclosure of the costs and terms of 

credit to consumers and to protect 

consumers against inaccurate and unfair 

credit billing practices. TILA has been 

revised numerous times since it took 

effect, notably by passage of the Fair 

Credit Billing Act of 1974, the 

Consumer Leasing Act of 1976, the 

Truth in Lending Simplification and 

Reform Act of 1980, the Fair Credit and 

Charge Card Disclosure Act of 1988, and 

the Home Equity Loan Consumer 

Protection Act of 1988. Historically, 

TILA was implemented by the Board of 

Governors of the Federal Reserve 

System’s (FRB) Regulation Z, 12 CFR 

part 226. The Dodd-Frank Wall Street 

Reform and Consumer Protection Act 

transferred FRB’s rulemaking authority 

for TILA to the Consumer Financial 

Protection Bureau (CFPB). 

Regulation Z contains several 

provisions that impose information 

collection requirements: The 

information collection requirements for 

open-end credit products; the 

information collection requirements for 

closed-end credit; the information 

collection requirements that apply to 

both open- and closed-end mortgage 

credit; the information collection 

requirements for specific residential 

mortgage types-namely, reverse 

mortgages and high cost mortgages with 

rates and fees above specified 

thresholds; the information collection 

requirements for private education 

loans; and information collection 

requirements related to Regulation Z’s 

advertising and record retention rules. 

The collection of information 

pursuant to Part 1026 is triggered by 

specific events and disclosures and 

must be provided to consumers within 

the time periods established under the 

regulation. To ease the compliance cost 

(particularly for small credit unions), 

model forms and clauses are appended 

to the regulation. 

Affected Public: Private Sector: Notfor-profit institutions. 

Estimated Total Annual Burden 

Hours: 2,906,986. 

OMB Number: 3133–0180. 

Title: Liquidity and Contingency 

Funding Plans, 12 CFR 741.12. 

Type of Review: Extension of a 

previously approved collection. 

Abstract: Section 741.12 establishes a 

three-tier framework for FICUs, based 

on asset size. FICUs with assets under 

$50 million must maintain a basic 

policy, those with assets of $50 million 

and over must maintain a contingency 

funding plan, and those with assets over 

$250 million must maintain a 

contingency funding plan and establish 

a federal liquidity contingency source. 

The reviews will conclude if federally 

insured credit unions are maintaining 

appropriate liquidity levels for the 

amount of balance sheet risk exposure 

and help prevent losses to credit unions 

and the NCUSIF. 

Affected Public: Private Sector: Notfor-profit institutions. 

Estimated Total Annual Burden 

Hours: 4,248. 

OMB Number: 3133–0186. 

Title: Higher-Risk Mortgage 

Appraisals. 

Type of Review: Revision of a 

currently approved collection. 

Abstract: Section 1471 of the DoddFrank Act established Truth in Lending 

section 129H, which contains appraisal 

requirements applicable to higher-risk 

mortgages and prohibits a creditor from 

extending credit in the form of a higherrisk mortgage loan to any consumer 

without meeting those requirements. A 

higher-risk mortgage is defined as a 

residential mortgage loan secured by a 

principal dwelling with an annual 

percentage rate that exceeds the average 

prime offer rate for a comparable 

transaction as of the date the interest 

rate is set by certain enumerated 

percentage point spreads. This statutory 

requirement is promulgated in 12 CFR 

part 1026, Regulation Z, by the Bureau 

of Consumer Financial Protection, the 

Board of Governors of the Federal 

Reserve, the Federal Deposit Insurance 

Corporation, the Federal Housing 

Finance Authority, the NCUA, and the 

Office of the Comptroller of the 

Currency. The information collections 

are required by statute, are necessary to 

protect consumers, and promote the 

safety and soundness of creditors 

making higher-risk mortgage loans. 

Affected Public: Private Sector: Notfor-profit institutions. 

Estimated Total Annual Burden 

Hours: 236. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and included in the 

request for Office of Management and 

Budget approval. All comments will 

become a matter of public record. The 

public is invited to submit comments 

concerning: (a) whether the collection of 

information is necessary for the proper 

performance of the function of the 

agency, including whether the 

information will have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information, including the validity of 

the methodology and assumptions used; 

(c) ways to enhance the quality, utility, 

and clarity of the information to be 

collected; and (d) ways to minimize the 

burden of the collection of the 

information on the respondents, 

including the use of automated 

collection techniques or other forms of 

information technology. 

By the National Credit Union 

Administration Board. 

Melane Conyers-Ausbrooks, 

Secretary of the Board. 

[FR Doc. 2024–00182 Filed 1–8–24; 8:45 am] 

BILLING CODE 7535–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Submission of Information Collection 

for OMB Review; Comment Request; 

Disclosure of Termination Information 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Notice of request for extension 

of OMB approval of an information 

collection. 

SUMMARY: The Pension Benefit Guaranty 

Corporation (PBGC) is requesting that 

the Office of Management and Budget 

(OMB) extend approval under the 

Paperwork Reduction Act of a collection 

of information on the disclosure of 

termination information under its 

regulations for distress terminations and 

for PBGC-initiated terminations. This 

notice informs the public of PBGC’s 

intent and solicits public comment on 

the collection of information. 

DATES: Comments must be submitted on 

or before February 8, 2024. 

ADDRESSES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

All comments received will be posted 

without change to PBGC’s website, 

http://www.pbgc.gov, including any 

personal information provided. Do not 

submit comments that include any 

personally identifiable information or 

confidential business information. 


khammond on DSKJM1Z7X2PROD with NOTICES
1132 Federal Register / Vol. 89, No. 6 / Tuesday, January 9, 2024 / Notices 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Exchange Rule 1.5(p). 

4The base rebate for executions of Added 

Displayed Volume is referred to by the Exchange on 

the Fee Schedule under the existing description 

‘‘Added displayed volume’’ with a Fee Code of ‘‘B’’, 

‘‘D’’ or ‘‘J’’, as applicable, on execution reports. 

5As set forth on the Fee Schedule, ‘‘ADAV’’ 

means the average daily added volume calculated 

as the number of shares added per day, which is 

calculated on a monthly basis. 

6As set forth on the Fee Schedule, ‘‘TCV’’ means 

total consolidated volume calculated as the volume 

reported by all exchanges and trade reporting 

facilities to a consolidated transaction reporting 

plan for the month for which the fees apply. 

A copy of the request will be posted 

on PBGC’s website at https:// 

www.pbgc.gov/prac/laws-andregulation/federal-register-notices-openfor-comment. It may also be obtained 

without charge by writing to the 

Disclosure Division (disclosure@

pbgc.gov), Office of the General Counsel 

of PBGC, 445 12th Street SW, 

Washington, DC 20024–2101; or, calling 

202–229–4040 during normal business 

hours. If you are deaf or hard of hearing 

or have a speech disability, please dial 

7–1–1 to access telecommunications 

relay services. 

FOR FURTHER INFORMATION CONTACT: 

Monica O’Donnell (odonnell.monica@

pbgc.gov), Attorney, Regulatory Affairs 

Division, Office of the General Counsel, 

Pension Benefit Guaranty Corporation, 

445 12th Street SW, Washington, DC 

20024–2101, 202–229–8706. If you are 

deaf or hard of hearing or have a speech 

disability, please dial 7–1–1 to access 

telecommunications relay services. 

SUPPLEMENTARY INFORMATION: Sections 

4041 and 4042 of the Employee 

Retirement Income Security Act of 1974, 

as amended (‘‘ERISA’’), 29 U.S.C. 

13019–1461, govern the termination of 

single-employer defined benefit pension 

plans that are subject to title IV of 

ERISA. A plan administrator may 

initiate a distress termination pursuant 

to section 4041(c), and PBGC may itself 

initiate proceedings to terminate a 

pension plan under section 4042 if 

PBGC determines that certain 

conditions are present. Under sections 

4041 and 4042 of ERISA, upon a request 

by an affected party, a plan 

administrator must disclose information 

it has submitted to PBGC in connection 

with a distress termination filing, and a 

plan administrator or plan sponsor must 

disclose information it has submitted to 

PBGC in connection with a PBGCinitiated termination. The provisions 

also require PBGC to disclose the 

administrative record relating to a 

PBGC-initiated termination upon 

request by an affected party. 

The existing collection of information 

was approved under OMB control 

number 1212–0065 (expires April 30, 

2024). On October 27, 2023, PBGC 

published in the Federal Register (at 88 

FR 73887) a notice informing the public 

of its intent to request an extension of 

this collection of information. No 

comments were received. PBGC is 

requesting that OMB extend approval of 

the collection for three years. 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. 

PBGC estimates that approximately 30 

plans will terminate as distress or 

PBGC-initiated terminations each year 

and that two participants or other 

affected parties of every nine distress 

terminations or PBGC-initiated 

terminations filed will annually make 

requests for termination information, or 

2⁄9 of 30 (approximately 7 per year). 

PBGC estimates that the hour burden for 

each request will be about 20 hours. 

PBGC expects that the staff of plan 

administrators and sponsors will 

perform the work in-house and that no 

work will be contracted to third parties. 

The total annual hour burden is 

estimated to be 140 hours (7 plans × 20 

hours), and the total annual cost burden 

is estimated to be $0. 

Issued in Washington, DC. 

Hilary Duke, 

Assistant General Counsel for Regulatory 

Affairs, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2024–00188 Filed 1–8–24; 8:45 am] 

BILLING CODE 7709–02–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99266; File No. SR–MEMX– 

2023–41] 

Self-Regulatory Organizations; MEMX 

LLC; Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Amend the Exchange’s Fee 

Schedule To Remove Expired Rebate 

Tier Criterion 

January 3, 2024. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on December 

26, 2023, MEMX LLC (‘‘MEMX’’ or the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (the 

‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the Exchange. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange is filing with the 

Commission a proposed rule change to 

amend the Exchange’s fee schedule 

applicable to Members 3 (the ‘‘Fee 

Schedule’’) pursuant to Exchange Rules 

15.1(a) and (c). The Exchange proposes 

to implement the changes to the Fee 

Schedule pursuant to this proposal on 

January 1, 2024. The text of the 

proposed rule change is provided in 

Exhibit 5. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposed rule 

change is to amend the Fee Schedule to 

remove an expired criteria under 

Liquidity Provision Tier 4. 

The Exchange currently provides a 

base rebate of $0.0015 per share for 

executions of orders in securities priced 

at or above $1.00 per share that add 

displayed liquidity to the Exchange 

(such orders, ‘‘Added Displayed 

Volume’’).4 The Exchange also currently 

offers Liquidity Provision Tiers 1–5 

under which a Member may receive an 

enhanced rebate for executions of 

Added Displayed Volume by achieving 

the corresponding required volume 

criteria for each such tier. With respect 

to Liquidity Provision Tier 4, the 

Exchange currently provides an 

enhanced rebate of $0.0029 per share for 

executions of Added Displayed Volume 

for Members that qualify for such tier by 

achieving: (1) an ADAV 5 (excluding 

Retail Orders) that is equal to or greater 

than 0.09% of the TCV; 6 or (2) an 

ADAV that is equal to or greater than 

0.006% of the TCV and a Step-Up 


khammond on DSKJM1Z7X2PROD with NOTICES