21930 Federal Register / Vol. 87, No. 71 / Wednesday, April 13, 2022 / Notices 

1United States Postal Service Notice of MarketDominant Price Change, April 6, 2022 (Notice). 

2 Docket No. RM2017–3, Order Adopting Final 

Rules for the System of Regulating Rates and 

Classes for Market Dominant Products, November 

30, 2020 (Order No. 5763). 

3USPS Notice of Filing Public Library References, 

April 6, 2022, at 1. 

4USPS Notice of Filing USPS–LR–R2022–1–NP1, 

April 6, 2022, at 1, Attachment 1. 

This Notice will be published in the 

Federal Register. 

Erica A. Barker, 

Secretary. 

[FR Doc. 2022–07897 Filed 4–12–22; 8:45 am] 

BILLING CODE 7710–FW–P 

POSTAL REGULATORY COMMISSION 

[Docket No. R2022–1; Order No. 6146] 

Market Dominant Price Adjustment 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is 

recognizing a recently filed Postal 

Service notice of inflation-based rate 

adjustments affecting market dominant 

domestic and international products 

and services, along with proposed 

classification changes. This notice 

informs the public of the filing, invites 

public comment, and takes other 

administrative steps. 

DATES: Comments are due: May 6, 2022. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at http://

www.prc.gov. Those who cannot submit 

comments electronically should contact 

the person identified in the FOR FURTHER

INFORMATION CONTACT section by 

telephone for advice on filing 

alternatives. 

FOR FURTHER INFORMATION CONTACT: 

David A. Trissell, General Counsel, at 

202–789–6820. 

SUPPLEMENTARY INFORMATION: 

Table of Contents 

I. Introduction 

II. Overview of the Postal Service’s Filing 

III. Initial Administrative Actions 

IV. Ordering Paragraphs 

I. Introduction 

On April 6, 2022, the Postal Service 

filed a notice of price adjustments 

affecting market dominant domestic and 

international products and services, 

along with proposed classification 

changes to the Mail Classification 

Schedule (MCS).1 The planned price 

adjustments described in the Notice are 

the second to be filed and reviewed 

pursuant to the new regulations of 39 

CFR part 3030, which were finalized in 

Order No. 5763 and include new forms 

of rate authority.2 The intended 

effective date for the planned price 

adjustments is July 10, 2022. Notice at 

1. The Notice, which was filed pursuant 

to 39 CFR part 3030, triggers a noticeand-comment proceeding. 39 CFR 

3030.125. 

II. Over of the Postal Service’s Filing 

The Postal Service’s filing consists of 

the Notice, which the Postal Service 

represents addresses data and 

information required under 39 CFR 

3030.122 and 39 CFR 3030.123; three 

attachments (Attachments A–C) to the 

Notice; and five public library 

references and one non-public library 

reference. 

Attachment A presents the planned 

price and related product description 

changes to the MCS. Notice, Attachment 

A. Attachments B and C address 

workshare discounts and the price cap 

calculation, respectively. Id. 

Attachments B and C. 

The five public library references 

provide supporting documentation for 

the five classes of mail.3 The Postal 

Service also filed a library reference 

pertaining to the two international mail 

products within First-Class Mail 

(Outbound Single-Piece First-Class Mail 

International and Inbound Letter Post) 

under seal and applied for non-public 

treatment of those materials.4

The Postal Service’s planned 

percentage changes by class are, on 

average, as follows: 

Market dominant class 

Planned 

price 

adjustment 

(%) 

First-Class Mail ......................... 6.506 

USPS Marketing Mail ............... 6.500 

Periodicals ................................ 8.540 

Package Services ..................... 8.511 

Special Services ....................... 6.442 

Notice at 4. 

Price adjustments for products within 

classes vary from the average. See, e.g., 

id. at 6, 11 (Table 6 showing range for 

First-Class Mail products and Table 8 

showing range for USPS Marketing Mail 

products). Most of the planned 

adjustments entail increases to market 

dominant rates and fees; however, in a 

few instances, the Postal Service 

proposes either no adjustment or a 

decrease. See id. at 11, 12, 25. 

The Postal Service identifies the effect 

of its proposed classification changes on 

the MCS in Attachment A. Id. at 28; id. 

Attachment A. The Postal Service also 

notes that the promotions offered by the 

Postal Service in 2022 are not proposed 

to change as a result of this proceeding. 

Notice at 26. 

III. Initial Administrative Actions 

Pursuant to 39 CFR 3030.124(a), the 

Commission establishes Docket No. 

R2022–1 to consider the planned price 

adjustments for market dominant postal 

products and services, as well as the 

related classification changes, identified 

in the Notice. The Commission invites 

comments from interested persons on 

whether the Postal Service’s planned 

price adjustments are consistent with 

applicable statutory and regulatory 

requirements. 39 CFR 3030.125. The 

applicable statutory and regulatory 

requirements the Commission considers 

in its review are the requirements of 39 

CFR part 3030, Commission directives 

and orders, and 39 U.S.C. 3626, 3627, 

and 3629. 39 CFR 3030.126(b). 

Comments are due no later than May 6, 

2022. 39 CFR 3030.124(f). 

The public portions of the Postal 

Service’s filing are available for review 

on the Commission’s website (http://

www.prc.gov). Comments and other 

material filed in this proceeding will be 

available for review on the 

Commission’s website, unless the 

information contained therein is subject 

to an application for non-public 

treatment. The Commission’s rules on 

non-public materials (including access 

to documents filed under seal) appear in 

39 CFR part 3011. 

Pursuant to 39 U.S.C. 505, the 

Commission appoints Kenneth E. 

Richardson to represent the interests of 

the general public (Public 

Representative) in this proceeding. 

IV. Ordering Paragraphs 

It is ordered: 

1. The Commission establishes Docket 

No. R2022–1 to consider the planned 

price adjustments for market dominant 

postal products and services, as well as 

the related classification changes, 

identified in the Postal Service’s April 

6, 2022 Notice. 

2. Comments on the planned price 

adjustments and related classification 

changes are due no later than May 6, 

2022. 

3. Pursuant to 39 U.S.C. 505, Kenneth 

E. Richardson is appointed to serve as 

an officer of the Commission to 

represent the interests of the general 

public (Public Representative) in this 

proceeding. 

4. The Commission directs the 

Secretary of the Commission to arrange 

for prompt publication of this notice in 

the Federal Register. 


jspears on DSK121TN23PROD with NOTICES1
Federal Register / Vol. 87, No. 71 / Wednesday, April 13, 2022 / Notices 21931 

1 15 U.S.C. 78ee. 

2 15 U.S.C. 78ee(b). 

3 15 U.S.C. 78ee(c). 

4 In some circumstances, the SEC also must make 

a mid-year adjustment to the fee rates applicable 

under Sections 31(b) and (c). 

5 15 U.S.C. 78ee(j)(1) (the Commission must 

adjust the rates under Sections 31(b) and (c) to a 

‘‘uniform adjusted rate that, when applied to the 

baseline estimate of the aggregate dollar amount of 

sales for such fiscal year, is reasonably likely to 

produce aggregate fee collections under [section 31] 

(including assessments collected under [Section 

31(d)]) that are equal to the regular appropriation 

to the Commission by Congress for such fiscal 

year.’’). 

6 15 U.S.C. 78ee(g). 

7The sum of fees to be collected prior to the 

effective date of the new fee rate is determined by 

applying the current fee rate to the dollar amount 

of covered sales prior to the effective date of the 

new fee rate. The exchanges and FINRA have 

provided data on the dollar amount of covered sales 

through February, 2022. To calculate the dollar 

amount of covered sales from March, 2022 to the 

effective date of the new fee rate, the Commission 

is using the same methodology it used in fiscal year 

2020. This methodology is described in Appendix 

A of this order. 

8Currently, security futures do not trade on any 

market, therefore the Commission has not collected 

any assessments for transactions in security futures. 

Accordingly, the forecast for the assessments for all 

of fiscal year 2022 for single stock futures is zero. 

9To estimate the aggregate dollar amount of 

covered sales for the remainder of fiscal year 2022 

following the effective date of the new fee rate, the 

Commission is using the same methodology it used 

previously. This methodology is described in 

Appendix A of this order. 

10The President signed into law the 

‘‘Consolidated Appropriations Act, 2022’’ on March 

15, 2022. This legislation included an appropriation 

of $1,988,550,000 to the SEC for fiscal year 2022 

operations. The Act further directed that ‘‘[i]n 

addition to the foregoing appropriation, for move, 

replication, and related costs associated with a 

replacement lease for the Commission’s Fort Worth 

Regional Office facilities, not to exceed $6,746,000, 

to remain available until expended; and for move, 

replication, and related costs associated with a 

replacement lease for the Commission’s San 

Francisco Regional Office facilities, not to exceed 

$4,367,000, to remain available until expended.’’ 

The sum of these three amounts is $1,999,663,000. 

Finally, the Act further directed that ‘‘for purposes 

of calculating the fee rate under section 31(j) . . . 

all amounts appropriated under this heading shall 

be deemed to be the regular appropriation to the 

Commission for fiscal year 2022.’’ 

11Appendix A shows the process of calculating 

the fiscal year 2022 annual adjustment and includes 

the data used by the Commission in making this 

adjustment. 

12 15 U.S.C. 78ee(j)(4)(A). 

By the Commission. 

Erica A. Barker, 

Secretary. 

[FR Doc. 2022–07817 Filed 4–12–22; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94644] 

Order Making Fiscal Year 2022 Annual 

Adjustments to Transaction Fee Rates 

I. Background 

Section 31 of the Securities Exchange 

Act of 1934 (‘‘Exchange Act’’) requires 

each national securities exchange and 

national securities association to pay 

transaction fees to the Commission.1

Specifically, Section 31(b) requires each 

national securities exchange to pay to 

the Commission fees based on the 

aggregate dollar amount of sales of 

certain securities (‘‘covered sales’’) 

transacted on the exchange.2 Section 

31(c) requires each national securities 

association to pay to the Commission 

fees based on the aggregate dollar 

amount of covered sales transacted by or 

through any member of the association 

other than on an exchange.3

Section 31 of the Exchange Act 

requires the Commission to annually 

adjust the fee rates applicable under 

Sections 31(b) and (c) to a uniform 

adjusted rate.4 Specifically, the 

Commission must adjust the fee rates to 

a uniform adjusted rate that is 

reasonably likely to produce aggregate 

fee collections (including assessments 

on security futures transactions) equal 

to the regular appropriation to the 

Commission for the applicable fiscal 

year.5

The Commission is required to 

publish notice of the new fee rates 

under Section 31 not later than 30 days 

after the date on which an Act making 

a regular appropriation for the 

applicable fiscal year is enacted.6 On 

March 15, 2022, the President signed 

into law the Consolidated 

Appropriations Act, 2022, which 

includes total appropriations of 

$1,999,663,000 to the SEC for fiscal year 

2022. 

II. Fiscal Year 2022 Annual Adjustment 

to the Fee Rate 

The new fee rate is determined by (1) 

subtracting the sum of fees estimated to 

be collected prior to the effective date of 

the new fee rate 7 and estimated 

assessments on security futures 

transactions to be collected under 

Section 31(d) of the Exchange Act for all 

of fiscal year 2022 8 from an amount 

equal to the regular appropriation to the 

Commission for fiscal year 2022, and (2) 

dividing by the estimated aggregate 

dollar amount of covered sales for the 

remainder of the fiscal year following 

the effective date of the new fee rate.9

As noted above, the Consolidated 

Appropriations Act, 2022, includes total 

appropriations of $1,999,663,000 to the 

Commission for fiscal year 2022.10 The 

Commission estimates that it will 

collect $643,763,663 in fees for the 

period prior to the effective date of the 

new fee rate and $0 in assessments on 

round turn transactions in security 

futures products during all of fiscal year 

2022. Using the methodology described 

in Appendix A, the Commission 

estimates that the aggregate dollar 

amount of covered sales for the 

remainder of fiscal year 2022 to be 

$59,331,516,269,025. 

The uniform adjusted rate is 

computed by dividing the residual fees 

to be collected of $1,355,899,337 by the 

estimated aggregate dollar amount of 

covered sales for the remainder of fiscal 

year 2022 of $59,331,516,269,025; this 

results in a uniform adjusted rate for 

fiscal year 2022 of $22.90 per million.11

III. Effective Date of the Uniform 

Adjusted Rate 

Under Section 31(j)(4)(A) of the 

Exchange Act, the fiscal year 2022 

annual adjustments to the fee rates 

applicable under Sections 31(b) and (c) 

of the Exchange Act shall take effect on 

the later of October 1, 2021, or 60 days 

after the date on which a regular 

appropriation to the Commission for 

fiscal year 2022 is enacted.12 The 

regular appropriation to the 

Commission for fiscal year 2022 was 

enacted on March 15, 2022, and 

accordingly, the new fee rates 

applicable under Sections 31(b) and (c) 

of the Exchange Act will take effect on 

May 14, 2022. 

IV. Conclusion 

Accordingly, pursuant to Section 31 

of the Exchange Act, 

It is hereby ordered that the fee rates 

applicable under sections 31(b) and (c) 

of the Exchange Act shall be $22.90 per 

$1,000,000 effective on May 14, 2022. 

By the Commission. 

Dated: April 8, 2022. 

Jill M. Peterson, 

Assistant Secretary. 

APPENDIX A 

This appendix provides the 

methodology for determining the annual 

adjustment to the fee rates applicable 

under Sections 31(b) and (c) of the 

Exchange Act for fiscal year 2022. 

Section 31 of the Exchange Act requires 

the fee rates to be adjusted so that it is 

reasonably likely that the Commission 

will collect aggregate fees equal to its 

regular appropriation for fiscal year 

2022. 

To make the adjustment, the 

Commission must project the aggregate 

dollar amount of covered sales of 

securities on the securities exchanges 

and certain over-the-counter (‘‘OTC’’) 

markets over the course of the year. The 

fee rate equals the ratio of the 


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