Federal Register / Vol. 87, No. 36 / Wednesday, February 23, 2022 / Notices 10261 

telephone: 301–415–0624; email: 

Stacy.Schumann@nrc.gov. For technical 

questions, contact the individuals listed 

in the FOR FURTHER INFORMATION

CONTACT section of this document. 

• Mail comments to: Office of 

Administration, Mail Stop: TWFN–7– 

A60M, U.S. Nuclear Regulatory 

Commission, Washington, DC 20555– 

0001, ATTN: Program Management, 

Announcements, and Editing Staff. 

For additional direction on obtaining 

information and submitting comments, 

see ‘‘Obtaining Information and 

Submitting Comments’’ in the 

SUPPLEMENTARY INFORMATION section of 

this document. 

FOR FURTHER INFORMATION CONTACT: 

Joseph Kanney, telephone: 301–415– 

1920, email: Joseph.Kanney@nrc.gov 

and, Edward O’Donnell, telephone: 

301–415–3317, email: 

Edward.O’Donnell@nrc.gov. Both are 

staff members of the Office of Nuclear 

Regulatory Research, at the U.S. Nuclear 

Regulatory Commission, Washington, 

DC 20555–0001. 

SUPPLEMENTARY INFORMATION: 

I. Obtaining Information and 

Submitting Comments 

A. Obtaining Information 

Please refer to Docket ID NRC–2022– 

0037 when contacting the NRC about 

the availability of information for this 

action. You may obtain publicly 

available information related to this 

action by any of the following methods: 

• Federal Rulemaking Website: Go to 

https://www.regulations.gov and search 

for Docket ID NRC–2022–0037. 

• NRC’s Agencywide Documents 

Access and Management System 

(ADAMS): You may obtain publicly 

available documents online in the 

ADAMS Public Documents collection at 

https://www.nrc.gov/reading-rm/ 

adams.html. To begin the search, select 

‘‘Begin Web-based ADAMS Search.’’ For 

problems with ADAMS, please contact 

the NRC’s Public Document Room (PDR) 

reference staff at 1–800–397–4209, 301– 

415–4737, or by email to 

PDR.Resource@nrc.gov. DG–1290, 

‘‘Design-Basis Floods for Nuclear Power 

Plants’’ is available in ADAMS under 

Accession No. ML19289E561. 

• NRC’s PDR: You may examine and 

purchase copies of public documents, 

by appointment, at the NRC’s PDR, 

Room P1 B35, One White Flint North, 

11555 Rockville Pike, Rockville, 

Maryland 20852. To make an 

appointment to visit the PDR, please 

send an email to PDR.Resource@nrc.gov 

or call 1–800–397–4209 or 301–415– 

4737, between 8:00 a.m. and 4:00 p.m. 

(ET), Monday through Friday, except 

Federal holidays. 

B. Submitting Comments 

The NRC encourages electronic 

comment submission through the 

Federal rulemaking website (https://

www.regulations.gov). Please include 

Docket ID NRC–2022–0037 in your 

comment submission. 

The NRC cautions you not to include 

identifying or contact information that 

you do not want to be publicly 

disclosed in your comment submission. 

The NRC will post all comment 

submissions at https://

www.regulations.gov as well as enter the 

comment submissions into ADAMS. 

The NRC does not routinely edit 

comment submissions to remove 

identifying or contact information. 

If you are requesting or aggregating 

comments from other persons for 

submission to the NRC, then you should 

inform those persons not to include 

identifying or contact information that 

they do not want to be publicly 

disclosed in their comment submission. 

Your request should state that the NRC 

does not routinely edit comment 

submissions to remove such information 

before making the comment 

submissions available to the public or 

entering the comment into ADAMS. 

II. Additional Information 

The NRC is issuing for public 

comment a DG in the NRC’s ‘‘Regulatory 

Guide’’ series. This series was 

developed to describe methods that are 

acceptable to the NRC staff for 

implementing specific parts of the 

agency’s regulations, to explain 

techniques that the staff uses in 

evaluating specific issues or postulated 

events, and to describe information that 

the staff needs in its review of 

applications for permits and licenses. 

The DG, entitled, ‘‘Design-Basis 

Floods for Nuclear Power Plants’’ is 

proposed Revision 3 of RG 1.59, which 

is temporarily identified by its task 

number, DG–1290. It proposes methods 

that the NRC staff considers acceptable 

for use in the determination of designbasis floods for NPPs. 

The staff is also issuing for public 

comment a draft regulatory analysis for 

revision of RG 1.59 (ML12121A020). 

The staff developed a regulatory 

analysis to assess the value of issuing or 

revising a regulatory guide as well as 

alternative courses of action. 

III. Backfitting, Forward Fitting, and 

Issue Finality 

Issuance of DG–1290, if finalized, 

would not constitute backfitting as that 

term is defined in section 50.109 of title 

10 of the Code of Federal Regulations 

(10 CFR), ‘‘Backfitting,’’ and as 

described in NRC Management Directive 

(MD) 8.4, ‘‘Management of Backfitting, 

Forward Fitting, Issue Finality, and 

Information Requests’’; constitute 

forward fitting as that term is defined 

and described in MD 8.4; or affect issue 

finality of any approval issued under 10 

CFR part 52, ‘‘Licenses, Certificates, and 

Approvals for Nuclear Power Plants.’’ 

As explained in DG–1290, applicants 

and licensees are not required to comply 

with the positions set forth in DG–1290. 

IV. Submitting Suggestions for 

Improvement of Regulatory Guides 

A member of the public may, at any 

time, submit suggestions to the NRC for 

improvement of existing RGs or for the 

development of new RGs. Suggestions 

can be submitted on the NRC’s public 

website at https://www.nrc.gov/readingrm/doc-collections/reg-guides/ 

contactus.html. Suggestions will be 

considered in future updates and 

enhancements to the ‘‘Regulatory 

Guide’’ series. 

Dated: February 16, 2022. 

For the Nuclear Regulatory Commission. 

Meraj Rahimi, 

Chief, Regulatory Guide and Programs 

Management Branch, Division of Engineering, 

Office of Nuclear Regulatory Research. 

[FR Doc. 2022–03791 Filed 2–22–22; 8:45 am] 

BILLING CODE 7590–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 2:00 p.m. on Thursday, 

February 24, 2022. 

PLACE: The meeting will be held via 

remote means and/or at the 

Commission’s headquarters, 100 F 

Street NE, Washington, DC 20549. 

STATUS: This meeting will be closed to 

the public. 

MATTERS TO BE CONSIDERED: 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

In the event that the time, date, or 

location of this meeting changes, an 

announcement of the change, along with 

the new time, date, and/or place of the 

meeting will be posted on the 

Commission’s website at https://

www.sec.gov. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 


khammond on DSKJM1Z7X2PROD with NOTICES
10262 Federal Register / Vol. 87, No. 36 / Wednesday, February 23, 2022 / Notices 

1 12 U.S.C. 5465(e)(1). 

2 17 CFR 240.19b–4(n)(1)(i). 

3 15 U.S.C. 78a et seq. 

4See Notice of Filing infra note 5, at 87 FR 1814. 

5Securities Exchange Act Release No. 93915 (Jan. 

6, 2022), 87 FR1814 (Jan. 12, 2022) (File No. SR– 

OCC–2021–803) (‘‘Notice of Filing’’). On December 

23, 2021, OCC also filed a related proposed rule 

change (SR–OCC–2021–014) with the Commission 

pursuant to Section 19(b)(1) of the Exchange Act 

and Rule 19b–4 thereunder (‘‘Proposed Rule 

Change’’). 15 U.S.C. 78s(b)(1) and 17 CFR 240.19b– 

4, respectively. In the Proposed Rule Change, which 

was published in the Federal Register on January 

12, 2022, OCC seeks approval of proposed changes 

to its rules necessary to implement the Advance 

Notice. Securities Exchange Act Release No. 93916 

(Jan. 6, 2022), 87 FR 1819 (Jan. 12, 2022) (File No. 

SR–OCC–2021–014). The comment period for the 

related Proposed Rule Change filing closed on 

February 2, 2022. 

6A comment letter addressed market conduct 

generally; however, additional discussion is 

unnecessary because the substance of the letter does 

not bear on the basis for the Commission’s decision 

not to object to the proposal. Comments on the 

Advance Notice are available at https://

www.sec.gov/comments/sr-occ-2021-803/ 

srocc2021803.htm. Since the proposal contained in 

the Advance Notice was also filed as a proposed 

rule change, all public comments received on the 

proposal are considered regardless of whether the 

comments are submitted on the Proposed Rule 

Change or the Advance Notice. 

7Capitalized terms used but not defined herein 

have the meanings specified in OCC’s Rules and ByLaws, available at https://www.theocc.com/about/ 

publications/bylaws.jsp. 

8See By-Law Art. IX, Sec. 1. 

9See OCC Rule 604(a); Rule 1006(c). 

10See Notice of Filing, 87 FRat 1815. 

11Under the proposed Policy, OCC Cash would 

include working capital related to future operating 

costs, inclusive of financial resources held to meet 

liquidity and resiliency requirements, proceeds 

from lines of credit, if any, maintained to support 

OCC’s working capital, and investments made with 

OCC Cash. OCC Cash would also include OCC’s 

Minimum Corporate Contribution. See Securities 

Exchange Act Release No. 92038 (May 27, 2021), 86 

FR 29861 (Jun. 3, 2021) (File No. SR–OCC–2021– 

003) (establishing a persistent minimum level of 

OCC’s own capital that it would contribute to 

default losses or liquidity shortfalls prior to 

allocating a default loss to the Clearing Fund 

contributions of non-defaulting Clearing Members). 

OCC Cash would not include cash held in respect 

of OCC’s pension plan, post-retirement welfare 

plan, or other deferred compensation plans. 

12Under the proposed Policy, Clearing Member 

Cash would include cash collateral deposited as 

margin or Clearing Fund contributions, cash held in 

liquidating settlement accounts for suspended 

Clearing Members pursuant to OCC’s Rule 1104, 

and investments made with Clearing Member Cash. 

Clearing Member Cash would also include proceeds 

from OCC’s syndicated credit facility and liquidity 

facilities. See Securities Exchange Act Release No. 

88971 (May 28, 2020), 85 FR 34257 (Jun. 3, 2020) 

(File No. SR–OCC–2020–804) (discussing OCC’s 

revolving credit facility); Securities Exchange Act 

Release No. 89039 (Jun. 10, 2020), 85 FR 36444 

(Jun. 16, 2020) (File No. SR–OCC–2020–803) 

(discussing OCC’s non-bank liquidity facility). 

13See OCC Rule 1104. 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) 

and (10) and 17 CFR 200.402(a)(3), 

(a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and 

(a)(10), permit consideration of the 

scheduled matters at the closed meeting. 

The subject matter of the closed 

meeting will consist of the following 

topics: 

Institution and settlement of injunctive 

actions; 

Institution and settlement of administrative 

proceedings; 

Resolution of litigation claims; and 

Other matters relating to examinations and 

enforcement proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting agenda items that 

may consist of adjudicatory, 

examination, litigation, or regulatory 

matters. 

CONTACT PERSON FOR MORE INFORMATION: 

For further information; please contact 

Vanessa A. Countryman from the Office 

of the Secretary at (202) 551–5400. 

(Authority: 5 U.S.C. 552b.) 

Dated: February 17, 2022. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2022–03859 Filed 2–18–22; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94270; File No. SR–OCC– 

2021–803] 

Self-Regulatory Organizations; The 

Options Clearing Corporation; Notice 

of No Objection to Advance Notice 

Concerning The Options Clearing 

Corporation’s Cash and Investment 

Management 

February 17, 2022. 

I. Introduction 

On December 23, 2021, the Options 

Clearing Corporation (‘‘OCC’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) advance 

notice SR–OCC–2021–803 (‘‘Advance 

Notice’’) pursuant to Section 806(e)(1) of 

Title VIII of the Dodd-Frank Wall Street 

Reform and Consumer Protection Act, 

entitled Payment, Clearing and 

Settlement Supervision Act of 2010 

(‘‘Clearing Supervision Act’’) 1 and Rule 

19b–4(n)(1)(i) 2 under the Securities 

Exchange Act of 1934 (‘‘Exchange 

Act’’) 3 to (i) adopt OCC’s policy 

regarding cash and related investments 

to its rules, and (ii) amend OCC’s Rules 

governing the use of Clearing Fund 

contributions to ensure access in the 

event of the failure of an investment 

counterparty with whom OCC has 

invested cash collateral.4 The Advance 

Notice was published for public 

comment in the Federal Register on 

January 12, 2022,5 and the Commission 

has received no comments regarding the 

substance of the changes proposed in 

the Advance Notice.6 The Commission 

is hereby providing notice of no 

objection to the Advance Notice. 

II. Background 7

OCC is proposing to adopt a policy 

governing OCC’s cash and investment 

practices (the ‘‘Cash and Investment 

Management Policy’’ or ‘‘Policy’’) and 

amend its rules regarding access to 

Clearing Fund contributions to address 

the failure of an investment 

counterparty to return Clearing Member 

cash collateral, which would also allow 

OCC to use such collateral to access its 

revolving credit facility. 

A. Policy Regarding Cash and Related 

Investments 

OCC’s current rules include 

provisions governing the management 

and investment of OCC’s own funds and 

cash deposited by Clearing Members. 

Pursuant to its rules, OCC’s Board of 

Directors (‘‘Board’’) may invest funds in 

excess of the amount needed as working 

capital in Government securities or such 

other securities or financial 

instruments.8 Further, OCC’s Rules 

allow for the investment of cash 

deposited in respect of a Clearing 

Member’s margin requirements or 

Clearing Fund contributions by OCC for 

its account in Government securities.9

OCC proposes to add its Cash and 

Investment Management Policy to its 

current investment related rules.10

The proposed Cash and Investment 

Management Policy (i) outlines the 

safeguarding standards for cash and 

related investments managed by OCC to 

minimize credit and liquidity risk, and 

(2) provides guidelines for investments 

permitted by OCC’s rules as described 

above. With regard to safeguarding cash, 

the Policy would allow OCC to hold 

OCC Cash 11 and Clearing Member 

Cash 12 in demand deposit accounts 

with commercial banks or in accounts at 

a Federal Reserve Bank. Consistent with 

OCC’s current rules, the Policy would 

require OCC to move all margin and 

Clearing Fund cash related to a 

suspended Clearing Member into a 

liquidating settlement account for use in 

meeting the obligations of the Clearing 

Member.13 The Policy would also 

require that OCC employ a bank account 

structure that segregates customer funds 

per applicable regulatory 


khammond on DSKJM1Z7X2PROD with NOTICES