Federal Register / Vol. 60, No. 82 / Friday, April 28, 1995 / Notices 21013

Farm Credit Administration

Secretary to the Chairman. Effective

March 2, 1995.

Office of Management and Budget

Confidential Assistant to the

Associate Director for Human

Resources. Effective March 1, 1995.

Writer-Editor to the Associate Director

for Communications. Effective March 1,

1995.

United States Information Agency

Senior Advisor to the Director, Office

of Public Liaison. Effective March 7,

1995.

Special Assistant to the Associate

Director, Office of Program Coordination

and Development, Bureau of Policy and

Programs. Effective March 16, 1995.

United States Tax Court

Secretary to the Judge. Effective

March 29, 1995.

United States Trade and Development

Agency

Special Assistant for Policy and

Public Affairs to the Director, Trade and

Development Agency. Effective March

26, 1995.

Authority: 5 U.S.C. 3301 and 3302; E.O.

10577, 3 CFR 1954—1958 Comp., P. 218.

Office of Personnel Management

Lorraine A. Green,

Deputy Director.

[FR Doc. 95–10455 Filed 4–27–95; 8:45 am]

BILLING CODE 6325–01–M

OFFICE OF THE UNITED STATES

TRADE REPRESENTATIVE

Extension of Comment Period

Concerning Negotiations Regarding

Chilean Accession to the North

American Free Trade Agreement

AGENCY: Office of the United States

Trade Representative.

ACTION: Extension of Comment Period

Concerning Negotiations regarding

Chile’s entry into the North American

Free Trade Agreement (NAFTA).

SUMMARY: By a Federal Register

published March 14, 1995, (60 FR

13746) the Office of the U.S. Trade

Representative (USTR) gave notice that

the United States, along with the

Governments of Canada and Mexico,

expects to undertake negotiations with

the Republic of Chile regarding its

accession to (i.e., inclusion in) the

NAFTA and that the Trade Policy Staff

Committee (TPSC) invites public

comments on the negotiations. A public

hearing was held on April 25. USTR has

decided to extend the deadline for the

submission of written comments from

April 28 to May 12, 1995.

FOR FURTHER INFORMATION CONTACT:

For procedural questions concerning

public comments, contact Carolyn

Frank, Executive Secretary, Trade Policy

Staff Committee, Office of the USTR,

(202) 395–9557. All other questions

should be directed to Jane Early,

Director for Chilean Affairs, (202) 395–

5190, or James Southwick, Assistant

General Counsel, (202) 395–7203.

SUPPLEMENTARY INFORMATION:

1. Public Comments and Testimony

In the notice of March 14, 1995, the

Chairman of the TPSC, in conformity

with TPSC regulations (15 CFR part

2003), invited written comments of

interested persons on the desirability

and economic effects of Chilean

accession to the NAFTA.

Comments were particularly invited

on:

(a) Economic costs and benefits to

U.S. producers and consumers of

removal of all tariff barriers to trade

between Chile and the United States

and between and among Chile and the

current NAFTA parties and, in the case

of articles for which immediate

elimination of tariffs is not appropriate,

the appropriate staging schedule for

such elimination.

(b) Existing nontariff barriers to trade

in goods between Chile and the United

States and between and among Chile

and the current NAFTA parties and the

economic costs and benefits to U.S.

producers and consumers of removing

those barriers.

(c) Existing barriers to trade in

services between Chile and the United

States and between and among Chile

and the current NAFTA parties, and

economic costs and benefits to U.S.

services firms and consumers of

removing such barriers.

(d) Existing restrictions on investment

flows between Chile and the United

States and between and among Chile

and the current NAFTA parties, and the

costs and benefits to U.S. investors and

consumers of eliminating such

restrictions.

(e) Any other measures, policies, or

practices of the Government of Chile

falling within the scope of the NAFTA

that should be addressed in the

negotiations.

In addition, comments were invited

on the possible environmental effects of

Chile’s accession to the NAFTA, as well

as the possible effects on basic workers’

rights, working conditions, and living

standards.

The March 14, 1995, notice also (1)

identified the range of Chilean articles

(producers) for which U.S. tariffs and

non-tariff measures may be reduced or

eliminated as a result of the

negotiations; (2) provided notice of a

request by the United States Trade

Representative to the International

Trade Commission (Commission) for

advice concerning the economic effects

of Chilean accession; and (3) scheduled

a public hearing for Tuesday, April 25,

1995.

2. Written Comments

Written comments, in 20 typed

copies, may be submitted no later than

noon, Friday, May 12, 1995, to Carolyn

Frank, Executive Secretary, Trade Policy

Staff Committee, Office of the United

States Trade Representative, Room 501,

600 Seventeenth Street, N.W.,

Washington, D.C. 20506. Comments

should state clearly the position taken

and should describe with particularity

the evidence supporting that position.

Any business confidential material must

be clearly marked as such on the cover

page (or later) and succeeding pages.

Such submissions must be accompanied

by a nonconfidential summary of the

confidential information.

Nonconfidential submissions will be

available for public inspection at the

USTR Reading Room, Room 101, Office

of the United States Trade

Representative, 600 Seventeenth Street,

N.W., Washington, D.C. An

appointment to review the file may be

made by calling Brenda Webb (202)

395–6186. The Reading Room is open to

the public from 10 a.m. to 12 noon and

from 1 p.m. to 4 p.m. Monday through

Friday.

Frederick L. Montgomery,

Chairman, Trade Policy Staff Committee.

[FR Doc. 95–10531 Filed 4–27–95; 8:45 am]

BILLING CODE 3190–01–M

POSTAL RATE COMMISSION

[Docket No. A95–10]

Notice and Order Accepting Appeal

and Establishing Procedural Schedule

Under 39 U.S.C. 404(b)(5)

Issued April 24, 1995.

In the Matter of: Cotesfield, Nebraska

68829 (Marilyn & Errol Well, Petitioners

Before Commissioners: Edward J. Gleiman,

Chairman; W.H. ‘‘Trey’’ LeBlanc III, ViceChairman; George W. Haley; H. Edward

Quick, Jr.; Wayne A. Schley

Docket Number: A95–10.

Name of Affected Post Office:

Cotesfield, Nebrask 68829.

Name(s) of Petitioner(s): Marilyn and

Errol Wells.

Type of Determination: Closing.
21014 Federal Register / Vol. 60, No. 82 / Friday, April 28, 1995 / Notices

1 15 U.S.C. 78s(b)(1) (1988).

2Letter from Jeffrey F. Ingber, General Counsel

and Secretary, GSCC, to Jerry Carpenter, Assistant

Director, Division of Market Regulation

(‘‘Division’’), Commission (December 1, 1994).

3Securities Exchange Act Release No. 35061

(December 7, 1994), 59 FR 64720.

4Letter from Jeffrey F. Ingber, General Counsel

and Secretary, GSCC, to Christine Sibille, Staff

Attorney [sic], Division, Commission (February 10,

1995).

5Letter from Jeffrey F. Ingber, General Counsel

and Secretary, GSCC, to Jerry Carpenter, Assistant

Director, Division, Commission (April 20, 1995).

6Currently, no insurance companies are members

of GSCC’s Netting System.

7Section 2(a)(17) of the Investment Company Act

provides that ‘‘ ‘Insurance company’ means a

company which is organized as an insurance

company, whose primary and predominant

business activity is the writing of insurance or the

reinsuring of risks underwritten by insurance

companies, and which is subject to supervision by

the insurance commissioner or a similar official or

agency of a State; or any receiver or similar official

or any liquidating agent for such a company, in his

capacity as such.’’

8While only twenty states have adopted the

model law as of November 1994, the risk-based

capital report has been included in the NAIC

financial statement used by all states. As a result,

all insurance companies must disclose the risk

profile in their annual financial reports.

Date of Filing of Appeal Papers: April

17, 1995.

Categories of Issues Apparently

Raised:

1. Effect on postal services (39 U.S.C.

404(b)(2)(C)).

2. Effect on the community (39 U.S.C.

404(b)(2)(A)).

After the Postal Service files the

administrative record and the

Commission reviews it, the Commission

may find that there are more legal issues

than those set forth above. Or, the

Commission may fine that the Postal

Service’s determination disposes of one

or more of those issues.

The Postal Reorganization Act

requires that the Commission issue its

decision within 120 days from the date

this appeal was filed (39 U.S.C. 404

(b)(5)). In the interest of expedition, in

light of the 120-day decision schedule,

the Commission may request the Postal

Service to submit memoranda of law on

any appropriate issue. If requested, such

memoranda will be due 20 days from

the issuance of the request and the

Postal Service shall serve a copy of its

memoranda on the petitioners. The

Postal Service may incorporate by

reference in its briefs or motions, any

arguments presented in memoranda it

previously filed in this docket. If

necessary, the Commission also may ask

petitioners or the Postal Service for

more information.

The Commission orders:

(a) The Postal Service shall file the

record in this appeal by May 2, 1995.

(b) The Secretary of the Postal Rate

Commission shall publish this Notice

and Order and Procedural Schedule in

the Federal Register.

By the Commission.

Cyril J. Pittack,

Acting Secretary.

Appendix

April 17, 1995 Filing of Appeal letter

April 24, 1995 Commission Notice and

Order of Filing of Appeal

May 12, 1995 Last day of filing of petitions

to intervene [see 39 CFR 3001.111(b)]

May 22, 1995 Petitioners’ Participant

Statement or Initial Brief [see 39 CFR

3001.115 (a) and (b)]

June 12, 1995 Postal Service’s Answering

Brief [see 39 CFR 3001.115(c)]

June 27, 1995 Petitioners’ Relay Brief

should Petitioner choose to file one [see

39 CFR § 3001.115(d)]

July 5, 1995 Deadline for motions by any

party requesting oral argument. The

Commission will schedule oral argument

only when it is a necessary addition to

the written filings [see 39 CFR 3001.116]

August 15, 1995 Expiration of the

Commission’s 120-day decisional

schedule [see 39 U.S.C. 404(b)(5)]

[FR Doc. 95–10440 Filed 4–27–95; 8:45 am]

BILLING CODE 7710–FW–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–35640; File No. SR–GSCC

94–7]

Self-Regulatory Organizations;

Government Securities Clearing

Corporation; Order Approving a

Proposed Rule Change Relating to

Changes in Membership Standards

April 24, 1995.

On October 11, 1994, pursuant to

Section 19(b)(1) of the Securities

Exchange Act of 1934 (‘‘Act’’),1 the

Government Securities Clearing

Corporation (‘‘GSCC’’) filed with the

Securities and Exchange Commission

(‘‘Commission’’) a proposed rule change

to establish minimum financial

standards for two current netting system

membership categories: insurance

companies and registered investment

companies. On December 5, 1994, GSCC

filed an amendment to the proposed

rule change.2 On December 15, 1994,

the Commission published notice of the

proposed rule change in the Federal

Register to solicit comment from

interested persons.3 On February 14,

1995, GSCC filed a second amendment

to the proposed rule change.4 The

amendment was a technical amendment

that did not require republication of

notice. On April 20, 1995, GSCC filed a

third amendment to the proposed rule

change.5 That amendment withdrew

that portion of the proposed rule change

relating to financial standards for

investment companies. No comments

were received. This order approves the

proposal as amended.

I. Description

The proposed rule change establishes

minimum financial standards for

insurance company applicants for

membership in GSCC’s Netting System.6

(A) Background

GSCC Rule 2, Section 1 currently

provides that insurance companies as

defined by Section 2(a)(17) of the

Investment Company Act of 1940

(‘‘Investment Company Act’’) are

eligible to become members of GSCC’s

Netting System if they are in good

standing with their primary regulator.7

Insurance companies are regulated

primarily by the states in which they

organize and operate. States generally

have imposed statutory and

administrative requirements for the

maintenance of reserves that are

intended to bear a reasonable

relationship to the risks presented by

the insurers’ outstanding contractual

obligations. These requirements appear

generally to have served to ensure that

insurance companies are financially

responsible.

In December 1992, the National

Association of Insurance Commissioners

(‘‘NAIC’’) adopted a model law that

establishes standards for the adequacy

of life and health insurance company

surplus levels based upon the risk

profile of their operations and

investments.8 The model law is to

replace the fixed dollar minimum

capital requirements under state law

with an authorized control level riskbased capital (‘‘RBC’’) at or below which

an insurance commissioner must act

and place an insurer under varying

degrees of increased state control.

The RBC is an adjusted capital

requirement based on four main risk

categories (asset risk, insurance risk,

interest rate risk, and business risk). The

asset risk category provides for risk of

default on investments held by

insurance companies by imposing

reductions in valuation ranging from

.3% of the value of obligations