Federal Register / Vol. 89, No. 223 / Tuesday, November 19, 2024 / Notices 91439 

Filing Materials Under Seal; Filing 

Acceptance Date: November 12, 2024; 

Filing Authority: 39 U.S.C. 3642, 39 CFR 

3035.105, and 39 CFR 3041.310; Public 

Representative: Christopher Mohr; 

Comments Due: November 20, 2024. 

20. Docket No(s).: MC2025–376 and 

K2025–374; Filing Title: USPS Request 

to Add Priority Mail & USPS Ground 

Advantage Contract 455 to the 

Competitive Product List and Notice of 

Filing Materials Under Seal; Filing 

Acceptance Date: November 12, 2024; 

Filing Authority: 39 U.S.C. 3642, 39 CFR 

3035.105, and 39 CFR 3041.310; Public 

Representative: Jennaca Upperman; 

Comments Due: November 20, 2024. 

21. Docket No(s).: MC2025–377 and 

K2025–375; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 702 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

November 12, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Jennaca Upperman; Comments Due: 

November 20, 2024. 

22. Docket No(s).: MC2025–378 and 

K2025–376; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 703 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

November 12, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Gregory Stanton; Comments Due: 

November 20, 2024. 

III. Summary Proceeding(s) 

None. See section II for public 

proceedings. 

This Notice will be published in the 

Federal Register. 

Erica A. Barker, 

Secretary. 

[FR Doc. 2024–26875 Filed 11–18–24; 8:45 am] 

BILLING CODE 7710–FW–P 

RAILROAD RETIREMENT BOARD 

Agency Forms Submitted for Office of 

Management and Budget Review, 

Request for Comments 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995 (44 

U.S.C. chapter 35), the Railroad 

Retirement Board (RRB) is forwarding 

an Information Collection Request (ICR) 

to the Office of Information and 

Regulatory Affairs (OIRA), Office of 

Management and Budget (OMB). Our 

ICR describes the information we seek 

to collect from the public. Review and 

approval by OIRA ensures that we 

impose appropriate paperwork burdens. 

The RRB invites comments on the 

proposed collections of information to 

determine (1) the practical utility of the 

collections; (2) the accuracy of the 

estimated burden of the collections; (3) 

ways to enhance the quality, utility, and 

clarity of the information that is the 

subject of collection; and (4) ways to 

minimize the burden of collections on 

respondents, including the use of 

automated collection techniques or 

other forms of information technology. 

Comments to the RRB or OIRA must 

contain the OMB control number of the 

ICR. For proper consideration of your 

comments, it is best if the RRB and 

OIRA receive them within 30 days of 

the publication date. 

1. Title and purpose of information 

collection: Claimant Appeal Under the 

Railroad Retirement Act or and Railroad 

Unemployment Insurance Act; OMB 

3220–0007. 

Under section 7(b) of the Railroad 

Retirement Act (RRA) (45 U.S.C. 231f), 

and section 5(c) of the Railroad 

Unemployment Insurance Act (RUIA) 

(45 U.S.C. 355) any person aggrieved by 

a decision made by an office of the RRB 

on his or her application for an annuity 

or benefit under those Acts has the right 

to appeal to the RRB. This right is 

prescribed in 20 CFR part 260 and 20 

CFR part 320. The notification letter, 

which is provided at the time of filing 

the original application, informs the 

applicant of such right. When an 

applicant protests a decision, the 

concerned RRB office reviews the entire 

file and any additional evidence 

submitted and sends the applicant a 

letter explaining the basis of the 

determination. The applicant is then 

notified that to protest further, they can 

appeal to the RRB’s Bureau of Hearings 

and Appeals. The appeal process is 

prescribed in 20 CFR 260.5 and 260.9 

and 20 CFR 320.12 and 320.38. 

To file a request for an appeal the 

applicant must complete Form HA–1, 

Appeal Under the Railroad Retirement 

Act or Railroad Unemployment 

Insurance Act. The form asks the 

applicant to explain the basis for their 

request for an appeal and, if necessary, 

to describe any additional evidence they 

wish to submit in support of the appeal. 

Completion is voluntary, however, if the 

information is not provided the RRB 

cannot process the appeal. 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (89 FR 75000 on 

September 13, 2024) required by 44 

U.S.C. 3506(c)(2). That request elicited 

no comments. 

Information Collection Request (ICR) 

Title: Claimant Appeal Under the 

Railroad Retirement Act or Railroad 

Unemployment Insurance Act. 

OMB Control Number: 3220–0007. 

Form(s) submitted: HA–1. 

Type of request: Revision of a 

currently approved collection. 

Affected public: Individuals or 

Households. 

Abstract: Under section 7(b)(3) of the 

Railroad Retirement Act and section 5(c) 

of the Railroad Unemployment 

Insurance Act, a person aggrieved by a 

decision on his or her application for an 

annuity or other benefit has the right to 

appeal to the RRB. The collection 

provides the means for the appeal 

action. 

Changes proposed: The RRB proposes 

a minor change to Form HA–1 to 

reference page 2 of the form. 

The burden estimate for the ICR is as 

follows: 

Form No. Annual responses Time 

(minutes) 

Burden 

(hours) 

HA–1 .......................................................................................................................... 300 20 100 

2. Title and purpose of information 

collection: Evidence for Application of 

Overall Minimum, OMB 3220–0083. 

Under section 3(f)(3) of the Railroad 

Retirement Act (RRA) (45 U.S.C. 231b), 

the total monthly benefits payable to a 

railroad employee and his/her family 

are guaranteed to be no less than the 

amount which would be payable if the 

employee’s railroad service had been 

covered by the Social Security Act. This 

is referred to as the Social Security 

Overall Minimum Guarantee, which is 

prescribed in 20 CFR part 229. To 

administer this provision, the Railroad 

Retirement Board (RRB) requires 

information about a retired employee’s 

spouse and child(ren) who would not be 

eligible for benefits under the RRA but 

would be eligible for benefits under the 

Social Security Act if the employee’s 


ddrumheller on DSK120RN23PROD with NOTICES1
91440 Federal Register / Vol. 89, No. 223 / Tuesday, November 19, 2024 / Notices 

railroad service had been covered by 

that Act. The RRB obtains the required 

information by the use of Forms G–319, 

Statement Regarding Family and 

Earnings for Special Guaranty 

Computation, and G–320, Student 

Questionnaire for Special Guaranty 

Computation. One response is required 

of each respondent. Completion is 

required to obtain or retain benefits. 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (89 FR 75000 on 

September 13, 2024) required by 44 

U.S.C. 3506(c)(2). That request elicited 

no comments. 

Information Collection Request (ICR) 

Title: Evidence for Application of 

Overall Minimum. 

OMB Control Number: 3220–0083. 

Forms submitted: G–319 and G–320. 

Type of request: Revision of a 

currently approved collection. 

Affected public: Individuals or 

Households. 

Abstract: Under section 3(f)(3) of the 

Railroad Retirement Act, the total 

monthly benefits payable to a railroad 

employee and his/her family are 

guaranteed to be no less than the 

amount which would be payable if the 

employee’s railroad service had been 

covered by the Social Security Act. 

Changes proposed: The RRB proposes 

minor changes to Form G–319: 

• In Section 1, updated the year in 

example date format. 

• In Section 2, changed first sentence 

to ‘‘Check the information entered by 

the Railroad Retirement Board (RRB) for 

accuracy.’’ 

• In Receipt For Your Statement 

section (page 11), updated the office 

hours. 

The RRB proposes no changes to 

Form G–320. 

The burden estimate for the ICR is as 

follows: 

Form No. Annual 

responses 

Time 

(minutes) 

Burden 

(hours) 

G–319 (completed by the employee) 

With assistance .................................................................................................................... 5 26 2 

Without assistance ............................................................................................................... 230 55 211 

G–319 (completed by spouse) 

With assistance .................................................................................................................... 5 30 2 

Without assistance ............................................................................................................... 10 60 10 

G–320 (Age 18 at Special Guaranty Begin Date or Special Guaranty Age 18 Attainments) .... 30 15 7 

G–320 (Student Monitoring done in Sept, March and at end of school year) ............................ 10 15 2 

Total ............................................................................................................................... 290 ........................ 234 

3. Title and purpose of information 

collection: Request to Non-Railroad 

Employer for Information About 

Annuitant’s Work and Earnings; OMB 

3220–0107. 

Under section 2 of the Railroad 

Retirement Act (RRA) (45 U.S.C. 231a), 

a railroad employee’s retirement 

annuity or an annuity paid to the spouse 

of a railroad employee is subject to work 

deductions in the Tier II component of 

the annuity and any employee 

supplemental annuity for any month in 

which the annuitant works for a Last 

Pre-Retirement Non-Railroad Employer 

(LPE). The LPE is defined as the last 

person, company, or institution, other 

than a railroad employer, that employed 

an employee or spouse annuitant. In 

addition, the employee, spouse, or 

divorced spouse Tier I annuity benefit is 

subject to work deductions under 

section 2(f)(1) of the RRA for earnings 

from any non-railroad employer that are 

over the annual exempt amount. The 

regulations pertaining to non-payment 

of annuities by reason of work and LPE 

are contained in 20 CFR 230.1 and 

230.2. 

The RRB utilizes Form RL–231–F, 

Request to Non-Railroad Employer for 

Information About Annuitant’s Work 

and Earnings, to obtain the information 

needed to determine if a work 

deduction should be applied because an 

annuitant worked in non-railroad 

employment after the annuity beginning 

date. One response is requested of each 

respondent. Completion is voluntary. 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (89 FR 75000 on 

September 13, 2024) required by 44 

U.S.C. 3506(c)(2). That request elicited 

no comments. 

Information Collection Request (ICR) 

Title: Request to Non-Railroad 

Employer for Information About 

Annuitant’s Work and Earnings. 

OMB Control Number: 3220–0107. 

Form(s) submitted: RL–231–F. 

Type of request: Extension without 

change of a currently approved 

collection. 

Affected public: Private Sector; 

Businesses or other for-profits, Not-forprofit institutions. 

Abstract: Under the Railroad 

Retirement Act (RRA), benefits are not 

payable if an annuitant works for an 

employer covered under the RRA or last 

non-railroad employer. The collection 

obtains information regarding an 

annuitant’s work and earnings from a 

non-railroad employer. The information 

is used to determine whether benefits 

should be withheld. 

Changes proposed: The RRB proposes 

no changes to Form RL–231–F. 

The burden estimate for the ICR is as 

follows: 

Form No. Annual responses Time 

(minutes) 

Burden 

(hours) 

RL–231–F .................................................................................................................. 300 30 150 

4. Title and Purpose of information 

collection: Student Beneficiary 

Monitoring; OMB 3220–0123. 

Under provisions of the Railroad 

Retirement Act (RRA), there are two 

types of benefit payments that are based 

on the status of a child being in fulltime elementary or secondary school 

attendance at age 18–19: (1) A survivor 

child’s annuity benefit under section 

2(d)(1)(iii) (45 U.S.C. 231a) and (2) an 

increase in the employee retirement 

annuity under the Special Guaranty 

computation as prescribed in section 

3(f)(2) (45 U.S.C. 231b) and 20 CFR 229. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 223 / Tuesday, November 19, 2024 / Notices 91441 

The survivor student annuity is 

usually paid by direct deposit to a 

financial institution either into the 

student’s checking or savings account or 

into a joint bank account with a parent. 

The requirements for eligibility as a 

student are prescribed in 20 CFR 216.74 

and include students in independent 

study and home schooling. 

To help determine if a child is 

entitled to student benefits, the RRB 

requires evidence of full-time school 

attendance. This evidence is acquired 

through the RRB’s student monitoring 

program, which utilizes the following 

forms. Form G–315, Student 

Questionnaire, obtains certification of a 

student’s full-time school attendance as 

well as information on the student’s 

marital status, social security benefits, 

and employment, which are needed to 

determine entitlement or continued 

entitlement to benefits under the RRA. 

Form G–315A, Statement of School 

Official, is used to obtain, from a school, 

verification of a student’s full-time 

attendance when the student fails to 

return a monitoring Form G–315. Form 

G–315A.1, School Official’s Notice of 

Cessation of Full-Time School 

Attendance, is used by a school to notify 

the RRB that a student has ceased fulltime school attendance. 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (89 FR 75001 on 

September 13, 2024) required by 44 

U.S.C. 3506(c)(2). That request elicited 

no comments. 

Information Collection Request (ICR) 

Title: Student Beneficiary Monitoring. 

OMB Control Number: 3220–0123. 

Form(s) submitted: G–315, G–315a, 

G–315a.1. 

Type of request: Extension without 

change of a currently approved 

collection. 

Affected public: Individuals or 

Households. 

Abstract: Under the Railroad 

Retirement Act (RRA), a student benefit 

is not payable if the student ceases fulltime school attendance, marries, works 

in the railroad industry, has excessive 

earnings or attains the upper age limit 

under the RRA. The report obtains 

information to be used to determine if 

benefits should cease or be reduced. 

Changes proposed: The RRB proposes 

no changes to Forms G–315, G–315A, or 

G–315A.1. 

The burden estimate for the ICR is as 

follows: 

Form No. Annual responses Time 

(minutes) 

Burden 

(hours) 

G–315 ........................................................................................................................ 860 15 215 

G–315a ...................................................................................................................... 20 3 1 

G–315a.1 ................................................................................................................... 20 2 1 

Total .................................................................................................................... 900 .............................. 217 

5. Title and Purpose of information 

collection: Gross Earnings Report; OMB 

3220–0132. 

In order to carry out the financial 

interchange provisions of section 7(c)(2) 

of the Railroad Retirement Act (RRA) 

(45 U.S.C. 231f), the RRB obtains 

annually from railroad employer’s the 

gross earnings for their employees on a 

one-percent basis, i.e., 1% of each 

employer’s railroad employees. The 

gross earnings sample is based on the 

earnings of employees whose social 

security numbers end with the digits 

‘‘30.’’ The gross earnings are used to 

compute payroll taxes under the 

financial interchange. 

The gross earnings information is 

essential in determining the tax 

amounts involved in the financial 

interchange with the Social Security 

Administration and Centers for 

Medicare & Medicaid Services. Besides 

being necessary for current financial 

interchange calculations, the gross 

earnings file tabulations are also an 

integral part of the data needed to 

estimate future tax income and 

corresponding financial interchange 

amounts. These estimates are made for 

internal use and to satisfy requests from 

other government agencies and 

interested groups. In addition, cash flow 

projections of the social security 

equivalent benefit account, railroad 

retirement account and cost estimates 

made for proposed amendments to laws 

administered by the RRB are dependent 

on input developed from the 

information collection. 

The RRB utilizes Form BA–11 to 

obtain gross earnings information from 

railroad employers. Employers have the 

option of preparing and submitting BA– 

11 reports online via the RRB’s 

Employer Reporting System or on paper 

(or in like format) on magnetic tape 

cartridges, by File Transfer Protocol 

(FTP), or secure Email. The online BA– 

11 includes the option to file a 

‘‘negative report’’ (no employees, or no 

employees with the digits ‘‘30’’). 

Completion is mandatory. One response 

is requested of each respondent. 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (89 FR 75001 on 

September 13, 2024) required by 44 

U.S.C. 3506(c)(2). That request elicited 

no comments. 

Information Collection Request (ICR) 

Title: Gross Earnings Report. 

OMB Control Number: 3220–0132. 

Form(s) submitted: BA–11, BA–11 

(internet). 

Type of request: Extension without 

change of a currently approved 

collection. 

Affected public: Private Sector; 

Businesses or other for-profits. 

Abstract: Section 7(c)(2) of the 

Railroad Retirement Act requires a 

financial interchange between the 

OASDHI trust funds and the railroad 

retirement account. The collection 

obtains gross earnings of railway 

employees on a 1% basis. The 

information is used to determine the 

amount which would place the OASDHI 

trust funds in the position they would 

have been if railroad service had been 

covered by the Social Security and FIC 

Acts. 

Changes proposed: The RRB proposes 

no changes to Form BA–11. 

The burden estimate for the ICR is as 

follows: 

Form No. Annual responses Time 

(minutes) 

Burden 

(hours) 

BA–11 CD–ROM ....................................................................................................... 0 30 0 

BA–11 File Transfer Protocol .................................................................................... 20 300 100 

BA–11 Secure Email ................................................................................................. 1 30 1 


ddrumheller on DSK120RN23PROD with NOTICES1
91442 Federal Register / Vol. 89, No. 223 / Tuesday, November 19, 2024 / Notices 

Form No. Annual responses Time 

(minutes) 

Burden 

(hours) 

BA–11 (Internet)—Positive ........................................................................................ 150 30 75 

BA–11 (Internet)—Negative ....................................................................................... 318 15 80 

Total .................................................................................................................... 489 .............................. 256 

6. Title and Purpose of information 

collection: Railroad Separation 

Allowance or Severance Pay Report; 

OMB 3220–0173. 

Section 6 of the Railroad Retirement 

Act (45 U.S.C. 231e) provides for a 

lump-sum payment to an employee or 

the employee’s survivors equal to the 

Tier II taxes paid by the employee on a 

separation allowance or severance 

payment for which the employee did 

not receive credits toward retirement. 

The lump-sum is not payable until 

retirement benefits begin to accrue or 

the employee dies. Also, section 4 (a-1) 

(iii) (45 U.S.C. 231c) of the Railroad 

Unemployment Insurance Act provides 

that a railroad employee who is paid a 

separation allowance is disqualified for 

unemployment and sickness benefits for 

the period of time the employee would 

have to work to earn the amount of the 

allowance. The reporting requirements 

are specified in 20 CFR 209.14. 

In order to calculate and provide 

payments, the Railroad Retirement 

Board (RRB) must collect and maintain 

records of separation allowances and 

severance payments which were subject 

to Tier II taxation from railroad 

employers. The RRB uses Form BA–9, 

Report of Separation Allowance or 

Severance Pay, to obtain information 

from railroad employers concerning the 

separation allowances and severance 

payments made to railroad employees 

and/or the survivors of railroad 

employees. Employers currently have 

the option of submitting their reports on 

paper Form BA–9, (or in like format) on 

a CD–ROM, or by File Transfer Protocol 

(FTP), or Secure Email. Completion is 

mandatory. One response is requested of 

each respondent. The 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (89 FR 75002 on 

September 13, 2024) required by 44 

U.S.C. 3506(c)(2). That request elicited 

no comments. 

Information Collection Request (ICR) 

Title: Railroad Separation Allowance 

or Severance Pay Report. 

OMB Control Number: 3220–0173. 

Form(s) submitted: BA–9. 

Type of request: Extension without 

change of a currently approved 

collection. 

Affected public: Private Sector; 

Businesses or other for profits. 

Abstract: Section 6 of the Railroad 

Retirement Act provides for a lump-sum 

payment to an employee or the 

employee’s survivor equal to the Tier II 

taxes paid by the employee on a 

separation allowance or severance 

payment for which the employee did 

not receive credits toward retirement. 

The collection obtains information 

concerning the separation allowances 

and severance payments paid from 

railroad employers. 

Changes proposed: The RRB proposes 

no changes to the manual, CD–ROM, 

secure email, or FTP Version of Form 

BA–9. The RRB proposes no changes 

from BA–9 (internet). 

The burden estimate for the ICR is as 

follows: 

Form No. Annual responses Time 

(minutes) 

Burden 

(hours) 

BA–9 (Paper) ............................................................................................................. 100 76 127 

BA–9 (internet) ........................................................................................................... 215 15 54 

BA–9 (CD–ROM) ....................................................................................................... 10 76 13 

BA–9 (Secure Email) ................................................................................................. 25 76 32 

BA–9 (FTP) ................................................................................................................ 10 76 13 

Total .................................................................................................................... 360 .............................. 239 

7. Title and Purpose of information 

collection: Annual Earnings 

Questionnaire for Annuitants in Last 

Pre-Retirement Non-Railroad 

Employment; OMB 3220–0179. 

Under section 2(e)(3) of the Railroad 

Retirement Act (RRA) (45 U.S.C. 231a), 

an annuity is not payable for any month 

in which a beneficiary works for a 

railroad. In addition, an annuity is 

reduced for any month in which the 

beneficiary works for an employer other 

than a railroad employer and earns more 

than a prescribed amount. Under the 

1988 amendments to the RRA, the Tier 

II portion of the regular annuity and any 

supplemental annuity must be reduced 

by one dollar for each two dollars of 

Last Pre-Retirement Non-Railroad 

Employment (LPE) earnings for each 

month of such service. However, the 

reduction cannot exceed 50 percent of 

the Tier II and supplemental annuity 

amount for the month to which such 

deductions apply. The LPE generally 

refers to an annuitant’s last employment 

with a non-railroad person, company, or 

institution prior to retirement, which 

was performed at the same time as 

railroad employment or after the 

annuitant stopped railroad employment. 

The collection obtains earnings 

information needed by the RRB to 

determine if possible reductions in 

annuities are in order due to LPE. 

The RRB utilizes Form G–19L, 

Annual Earnings Questionnaire, to 

obtain LPE earnings information from 

annuitants. One response is requested of 

each respondent. Completion is 

required to retain a benefit. 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (89 FR 75002 on 

September 13, 2024) required by 44 

U.S.C. 3506(c)(2). That request elicited 

no comments. 

Information Collection Request (ICR) 

Title: Railroad Separation Allowance 

or Severance Pay Report. 

OMB Control Number: 3220–0179. 

Form(s) submitted: G–19L. 

Type of request: Revision of a 

currently approved collection. 

Affected public: Individuals or 

Households. 

Abstract: Under section 2(e)(3) of the 

Railroad Retirement Act, an annuity is 

not payable or is reduced for any month 

in which the beneficiary works for a 

railroad or earns more than the 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 223 / Tuesday, November 19, 2024 / Notices 91443 

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

2 17 CFR 240.19b–4. 

3 17 CFR 240.17ad–25(i). 

4Commission Rule 17ad–25(a) defines ‘Service 

Provider for Core Services’ as any person that, 

through a written services provider agreement for 

services provided to or on behalf of a registered 

clearing agency, on an ongoing basis, directly 

supports the delivery of clearance or settlement 

functionality or any other purposes material to the 

business of the registered clearing agency. 

prescribed amounts. The collection 

obtains earnings information needed by 

the Railroad Retirement Board to 

determine possible reductions in 

annuities because of earnings. 

Changes proposed: The RRB proposes 

minor changes to update the office 

hours on Form G–19L. 

The burden estimate for the ICR is as 

follows: 

Form No. Annual responses Time 

(minutes) 

Burden 

(hours) 

G–19L ........................................................................................................................ 300 15 75 

Additional Information or Comments: 

Copies of the forms and supporting 

documents or comments regarding the 

information collection should be 

addressed to Brian Foster, Railroad 

Retirement Board, 844 North Rush 

Street, Chicago, Illinois 60611–1275 or 

emailed to Brian.Foster@rrb.gov. 

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. 

Brian Foster, 

Clearance Officer. 

[FR Doc. 2024–26936 Filed 11–18–24; 8:45 am] 

BILLING CODE 7905–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101603; File No. SR–ICC– 

2024–011] 

Self-Regulatory Organizations; ICE 

Clear Credit LLC; Notice of Filing of 

Proposed Rule Change Relating to the 

ICC Operational Risk Management 

Framework 

November 13, 2024. 

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

Securities Exchange Act of 1934,1 and 

Rule 19b–4 thereunder,2 notice is 

hereby given that on October 31, 2024, 

ICE Clear Credit LLC (‘‘ICC’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change, as described in 

Items I, II and III below, which Items 

have been primarily prepared by ICC. 

The Commission is publishing this 

notice to solicit comments on the 

proposed rule change from interested 

persons. 

I. Clearing Agency’s Statement of the 

Terms of Substance of the Proposed 

Rule Change 

The principal purpose of the 

proposed rule change is to revise the 

Operational Risk Management 

Framework. These revisions do not 

require any changes to the ICC Clearing 

Rules (the ‘‘Rules’’). 

II. Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

In its filing with the Commission, ICC 

included statements concerning the 

purpose of and basis for the proposed 

rule change, security-based swap 

submission, or advance notice and 

discussed any comments it received on 

the proposed rule change, securitybased swap submission, or advance 

notice. The text of these statements may 

be examined at the places specified in 

Item IV below. ICC has prepared 

summaries, set forth in sections (A), (B), 

and (C) below, of the most significant 

aspects of these statements. 

(A) Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

(a) Purpose 

ICC proposes to revise its ORMF. The 

ORMF details ICC’s dynamic and 

independent program of risk assessment 

and oversight that aims to reduce 

operational incidents, encourage 

process, and control improvement, bring 

transparency to operational performance 

standard monitoring, and fulfill 

regulatory obligations. ICC believes such 

proposed revisions will facilitate the 

prompt and accurate clearance and 

settlement of securities transactions and 

derivative agreements, contracts, and 

transactions for which it is responsible. 

ICC proposes to make such changes 

effective following Commission 

approval of the proposed rule change. 

The proposed revisions are described in 

detail as follows. 

The primary purpose of the proposed 

revisions is to incorporate procedures 

designed to comply with Commission 

Rule 17Ad–25(i) 3 which imposes 

requirements on ICC related to the 

management of risks from relationships 

with service providers for core services 4

(‘‘SPCS’’). ICC proposes adding new 

Section II.B. ‘Management of Risks from 

Relationships with Service Providers for 

Core Services’ to the ORMF which adds 

procedures regarding ICC’s management 

of the risks related to relationships with 

SPCS. Specifically, proposed Section 

II.B. imposes the following requirements 

on ICC: (1) ICC senior management is 

required to evaluate and document the 

risks related to an agreement with a 

SPCS, including under changes to 

circumstances and potential 

disruptions, and whether the risks can 

be managed in a manner consistent with 

the ORMF; (2) ICC senior management 

is required to submit to the Board for 

review and approval any agreement that 

would establish a relationship with a 

SPCS, along with a risk evaluation 

described in (1) above; (3) ICC senior 

management is required to establish 

policies and procedures that govern 

relationships and manage risks related 

to such agreements with SPCS and the 

Board is required to be responsible for 

reviewing and approving such policies 

and procedures; and (4) ICC senior 

management is required to perform 

ongoing monitoring of the relationships 

with SPCS, and report to the Board 

which will provide its evaluation of any 

action taken by ICC senior management 

to remedy significant deterioration in 

performance or address changing risks 

or material issues identified through 

such monitoring, or if the risks or issues 

cannot be remedied, require ICC senior 

management to assess and document 

weaknesses or deficiencies in the 

relationship with the SPCS for 

submission to the Board. Also, ICC 

proposes to include in new Section II.B. 

a description of how ICC will identify 


ddrumheller on DSK120RN23PROD with NOTICES1