Federal Register / Vol. 87, No. 81 / Wednesday, April 27, 2022 / Notices 24975 

20581; (202) 418–5086; email: mdarcy@

cftc.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Clearing Member Risk 

Management (OMB Control No. 3038– 

0094). This is a request for an extension 

of a currently approved information 

collection. 

Abstract: Section 3(b) of the 

Commodity Exchange Act (‘‘Act’’ or 

‘‘CEA’’) provides that one of the 

purposes of the Act is to ensure the 

financial integrity of all transactions 

subject to the Act and to avoid systemic 

risk. Section 8a(5) of the CEA authorizes 

the Commission to promulgate such 

regulations that it believes are 

reasonably necessary to effectuate any of 

the provisions or to accomplish any of 

the purposes of the CEA. Risk 

management systems are critical to the 

avoidance of systemic risk. 

Section 4s(j)(2) of the CEA requires 

each Swap Dealer (‘‘SD’’) and Major 

Swap Participant (‘‘MSP’’) to have risk 

management systems adequate for 

managing its business. Section 4s(j)(4) of 

the CEA requires each SD and MSP to 

have internal systems and procedures to 

perform any of the functions set forth in 

Section 4s. 

Section 4d of the CEA requires 

Futures Commission Merchants 

(‘‘FCMs’’) to register with the 

Commission. It further requires FCMs to 

segregate customer funds. Section 4f of 

the CEA requires FCMs to maintain 

certain levels of capital and Section 4g 

of the CEA establishes reporting and 

recordkeeping requirements for FCMs. 

Pursuant to these provisions, the 

Commission adopted Commission 

regulation 1.73 which applies to 

clearing members that are FCMs and 

Commission regulation 23.609 which 

applies to clearing members that are SDs 

or MSPs. These provisions require these 

clearing members to have procedures to 

limit the financial risks they incur as a 

result of clearing trades and liquid 

resources to meet the obligations that 

arise. The regulations require each 

clearing member to: (1) Establish credit 

and market risk-based limits based on 

position size, order size, margin 

requirements, or similar factors; (2) use 

automated means to screen orders for 

compliance with the risk-based limits; 

(3) monitor for adherence to the riskbased limits intra-day and overnight; (4) 

conduct stress tests of all positions in 

the proprietary account and all 

positions in any customer account that 

could pose material risk to the futures 

commission merchant at least once per 

week; (5) evaluate its ability to meet 

initial margin requirements at least once 

per week; (6) evaluate its ability to meet 

variation margin requirements in cash at 

least once per week; (7) evaluate its 

ability to liquidate the positions it clears 

in an orderly manner, and estimate the 

cost of the liquidation at least once per 

month; and (8) test all lines of credit at 

least once per quarter. 

Each of these items has been observed 

by Commission staff as an element of an 

existing sound risk management 

program at an SD, MSP, or FCM. The 

Commission regulations require each 

clearing member to establish written 

procedures to comply with this 

regulation and to keep records 

documenting its compliance. The 

information collection obligations 

imposed by the regulations are 

necessary to implement certain 

provisions of the CEA, including 

ensuring that registrants exercise 

effective risk management and for the 

efficient operation of trading venues 

among SDs, MSPs, and FCMs. 

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. On February 22, 2022, 

the Commission published in the 

Federal Register notice of the proposed 

extension of this information collection 

and provided 60 days for public 

comment on the proposed extension, 87 

FR 9582 (‘‘60-Day Notice’’). The 

Commission did not receive any 

relevant comments on the 60-Day 

Notice. 

Burden Statement: The Commission 

is revising its estimate of the burden for 

this collection to reflect the current 

number of respondents and estimated 

burden hours. The respondent burden 

for this collection is estimated to be as 

follows: 

Estimated Number of Respondents: 

167 (108 Clearing Member Swap Dealers 

and 59 Clearing Member Futures 

Commission Merchants). 

Estimated Average Burden Hours per 

Respondent: 504 hours. 

Estimated Total Annual Burden 

Hours: 84,168 hours. 

Frequency of Collection: As needed. 

There are no capital costs or operating 

and maintenance costs associated with 

this collection. 

(Authority: 44 U.S.C. 3501 et seq.) 

Dated: April 22, 2022. 

Robert Sidman, 

Deputy Secretary of the Commission. 

[FR Doc. 2022–09019 Filed 4–26–22; 8:45 am] 

BILLING CODE 6351–01–P 

DEPARTMENT OF EDUCATION 

National Assessment Governing Board 

National Assessment Governing 

Board; Meeting 

AGENCY: National Assessment 

Governing Board, Department of 

Education. 

ACTION: Notice of open and closed 

meetings. 

SUMMARY: This notice sets forth the 

agenda for the National Assessment 

Governing Board (hereafter referred to 

as Governing Board) meeting scheduled 

for May 12–13, 2022. This notice 

provides information about the meeting 

to members of the public who may be 

interested in attending and/or providing 

written comments related to the work of 

the Governing Board. Notice of this 

meeting is required under the Federal 

Advisory Committee Act (FACA). 

ADDRESSES: Westin Crystal City, 1800 

Richmond Highway, Arlington, VA 

22202. 

FOR FURTHER INFORMATION CONTACT: 

Munira Mwalimu, Executive Officer/ 

Designated Federal Official for the 

Governing Board, 800 North Capitol 

Street NW, Suite 825, Washington, DC 

20002, telephone: (202) 357–6906, fax: 

(202) 357–6945, email: 

Munira.Mwalimu@ed.gov. 

SUPPLEMENTARY INFORMATION: 

Statutory Authority and Function: 

The Governing Board is established 

under the National Assessment of 

Educational Progress Authorization Act, 

Title III of Public Law 107–279. 

Information on the Governing Board and 

its work can be found at www.nagb.gov. 

The Governing Board formulates 

policy for the National Assessment of 

Educational Progress (NAEP) 

administered by the National Center for 

Education Statistics (NCES). The 

Governing Board’s responsibilities 

include: (1) Selecting subject areas to be 

assessed; (2) developing assessment 

frameworks and specifications; (3) 

developing appropriate student 

achievement levels for each grade and 

subject tested; (4) developing standards 

and procedures for interstate and 

national comparisons; (5) improving the 

form and use of NAEP; (6) developing 

guidelines for reporting and 

disseminating results; and (7) releasing 

initial NAEP results to the public. 

Standing Committee Meetings 

The Governing Board’s standing 

committees will meet to conduct 

regularly scheduled work planned for 

this Quarterly Board Meeting and any 

items undertaken by committees for 


lotter on DSK11XQN23PROD with NOTICES1
24976 Federal Register / Vol. 87, No. 81 / Wednesday, April 27, 2022 / Notices 

consideration by the full Governing 

Board. (Please see committee meeting 

minutes for previous meetings, available 

at https://www.nagb.gov/governingboard/quarterly-board-meetings.html). 

Committee meeting agendas will be 

posted on the Governing Board’s 

website www.nagb.gov five business 

days prior to the meetings. 

Committee Meetings 

Monday, May 9, 2022 

Nominations Committee (Closed 

Session) 

5:30 p.m.–7:00 p.m. 

Thursday, May 12, 2022 

Executive Committee Meeting 

8:30 a.m.–9:00 a.m. (Open Session) 

Friday, May 13, 2022 

Reporting and Dissemination Committee 

(R&D) 

8:30 a.m.–11:00 a.m. (Open Session) 

Friday, May 13, 2022 

Assessment Development Committee 

(ADC) 

8:30 a.m.–10:45 a.m. (Open Session) 

10:45 a.m.–11:00 a.m. (Closed Session) 

Friday, May 13, 2022 

Committee on Standards, Design and 

Methodology 

8:30 a.m.–9:30 a.m. (Open Session) 

9:30 a.m.–11:00 a.m. (Closed Session) 

Quarterly Governing Board Meeting 

The plenary sessions of the May 12– 

13, 2022 quarterly meeting of the 

Governing Board will be held on the 

following dates and times: 

Thursday, May 12, 2022: Open 

Meeting: 9:15 a.m.–5:30 p.m. 

Friday, May 13, 2022: Open Meeting: 

11:15 a.m.–11:30 a.m.; Closed Meeting: 

11:30 a.m.–3:30 p.m. 

May 12, 2022 Meeting 

On Thursday, May 12, 2022, the 

plenary session of the Governing Board 

meeting will meet in open session from 

9:15 a.m. to 11:15 a.m. From 9:15 a.m. 

to 9:30 a.m. Chair Beverly Perdue will 

welcome members, review, and approve 

the May 12–13, 2022 quarterly 

Governing Board meeting agenda and 

minutes from the March 3–4, 2022 

quarterly Governing Board meeting. 

Thereafter, from 9:30 a.m. to 9:45 a.m. 

Lesley Muldoon, Executive Director of 

the Governing Board, will update 

members on ongoing work. From 9:45 

a.m. to 10:00 a.m., Peggy Carr, 

Commissioner, National Center for 

Education Statistics (NCES), will 

provide an update on National 

Assessment of Educational Progress 

(NAEP) activities. Peggy Carr and Lesley 

Muldoon will then discuss proposed 

approaches to NAEP innovation from 

10:00 a.m. to 11:15 a.m. followed by a 

15-minute break. 

The Governing Board will hear a 

panel presentation from 11:30 a.m. to 

1:30 p.m. on State Perspectives on 

Opportunities for NAEP to Innovate. 

This session will be followed by a 15- 

minute break. The Governing Board will 

reconvene from 1:45 p.m. to 3:15 p.m. 

to receive a briefing from Daniel 

McGrath, Acting Associate 

Commissioner, NCES, on plans for 

analyzing and reporting NAEP 2022. 

Following a 15-minute break, the Vice 

Chair of the Assessment Development 

Committee will lead a discussion on the 

Board charge to the NAEP Science 

Assessment Framework Panels. The 

Director of the Institute of Education 

Sciences, Mark Schneider, then will 

provide an update from 4:30 p.m. to 

5:00 p.m. After which, members will 

engage in open discussion from 5:00 

p.m. to 5:30 p.m. before the meeting is 

adjourned on May 12, 2022. 

Friday, May 13, 2022 

The May 13, 2022 session will begin 

with standing committee meetings from 

8:30 a.m. to 11:00 a.m., followed by a 

15-minute break. From 11:15 a.m. to 

11:30 a.m., the Governing Board will 

take action on the Charge to the NAEP 

Science Framework Panels. 

The Governing Board will meet in 

closed session from 11:30 a.m. to 2:00 

p.m. to participate in the NAEP Budget 

Workshop. This session must be closed 

to the public because the budget 

discussions pertain to current and 

future NAEP contracts and must be kept 

confidential to maintain the integrity of 

the federal acquisition process. Public 

disclosure of this confidential 

information would impede 

implementation of the NAEP assessment 

program if conducted in open session. 

Such matters are protected by 

exemption 9(B) of § 552b(c) of Title 5 of 

the United States Code. 

Following a short break, the 

Governing Board will reconvene in the 

second closed session from 2:15 p.m. to 

3:30 p.m. to receive and discuss results 

from the NAEP Achievement Level 

Descriptor Study in Mathematics and 

Reading. This briefing must be held in 

closed session because study results are 

not yet public. Public disclosure of 

secure results would impede 

implementation of the NAEP assessment 

program if conducted in open session. 

Such matters are protected by 

exemption 9(B) of § 552b(c) of Title 5 of 

the United States Code. 

The May 13, 2022 session of the 

Governing Board meeting will adjourn 

at 3:30 p.m. 

The Quarterly Board meeting and 

committee meeting agendas, together 

with meeting materials, will be posted 

on the Governing Board’s website at 

www.nagb.gov no later than five 

working days prior to each meeting. 

Access to Records of the Meeting: 

Pursuant to FACA requirements, the 

public may also inspect the meeting 

materials at www.nagb.gov five business 

days prior to each meeting. The official 

verbatim transcripts of the public 

meeting sessions will be available for 

public inspection no later than 30 

calendar days following each meeting. 

Reasonable Accommodations: The 

meeting is accessible to individuals 

with disabilities. If you will need an 

auxiliary aid or service to participate in 

the meeting (e.g., interpreting service, 

assistive listening device, or materials in 

an alternate format), notify the contact 

person listed in this notice no later than 

ten working days prior to each meeting. 

Written Comment: Written comments 

related to the work of the Governing 

Board may be submitted electronically 

or in hard copy to the attention of the 

Executive Officer/Designated Federal 

Official (see contact information noted 

above). 

Public Participation: Members of the 

public may attend all open sessions of 

the standing committees and open 

plenary sessions of the Governing Board 

meeting. 

Electronic Access to this Document: 

The official version of this document is 

the document published in the Federal 

Register. Internet access to the official 

edition of the Federal Register and the 

Code of Federal Regulations is available 

via the Federal Digital System at: 

www.gpo.gov/fdsys. At this site you can 

view this document, as well as all other 

documents of this Department 

published in the Federal Register, in 

text or Adobe Portable Document 

Format (PDF). To use PDF, you must 

have Adobe Acrobat Reader, which is 

available free at the Adobe website. You 

may also access documents of the 

Department published in the Federal 

Register by using the article search 

feature at: www.federalregister.gov. 

Specifically, through the advanced 

search feature at this site, you can limit 

your search to documents published by 

the Department. 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 87, No. 81 / Wednesday, April 27, 2022 / Notices 24977 

Authority: Public Law 107–279, Title 

III—National Assessment of Educational 

Progress § 301. 

Munira Mwalimu, 

Executive Officer, National Assessment 

Governing Board (NAGB), U.S. Department 

of Education. 

[FR Doc. 2022–09001 Filed 4–26–22; 8:45 am] 

BILLING CODE 4000–01–P 

DEPARTMENT OF EDUCATION 

Applications for New Awards; 

Education Innovation and Research 

(EIR) Program—Early-Phase Grants 

AGENCY: Office of Elementary and 

Secondary Education, Department of 

Education. 

ACTION: Notice. 

SUMMARY: The Department of Education 

(Department) is issuing a notice inviting 

applications for fiscal year (FY) 2022 for 

the EIR program—Early-phase Grants, 

Assistance Listing Number 84.411C 

(Early-phase Grants). This notice relates 

to the approved information collection 

under OMB control number 1894–0006. 

DATES: 

Applications Available: April 29, 

2022. 

Deadline for Notice of Intent to Apply: 

May 27, 2022. 

Deadline for Transmittal of 

Applications: July 21, 2022. 

Deadline for Intergovernmental 

Review: September 21, 2022. 

Pre-Application Information: The 

Department will post additional 

competition information for prospective 

applicants on the EIR program website: 

https://oese.ed.gov/offices/office-ofdiscretionary-grants-support-services/ 

innovation-early-learning/educationinnovation-and-research-eir/fy-2022- 

competition/. 

ADDRESSES: For the addresses for 

obtaining and submitting an 

application, please refer to our Common 

Instructions for Applicants to 

Department of Education Discretionary 

Grant Programs, published in the 

Federal Register on December 27, 2021 

(86 FR 73264), and available at 

www.federalregister.gov/d/2021-27979. 

Please note that these Common 

Instructions supersede the version 

published on February 13, 2019, and, in 

part, describe the transition from the 

requirement to register in SAM.gov a 

Data Universal Numbering System 

(DUNS) number to the implementation 

of the Unique Entity Identifier (UEI). 

More information on the phaseout of 

DUNS numbers is available at 

www2.ed.gov/about/offices/list/ofo/ 

docs/unique-entity-identifier-transitionfact-sheet.pdf. 

FOR FURTHER INFORMATION CONTACT: 

Yvonne Crockett, U.S. Department of 

Education, 400 Maryland Avenue SW, 

Room 3E344, Washington, DC 20202– 

5900. Telephone: (202) 453–7122. 

Email: eir@ed.gov. 

If you use a telecommunications 

device for the deaf (TDD) or a text 

telephone (TTY), call the Federal Relay 

Service (FRS), toll-free, at 1–800–877– 

8339. 

SUPPLEMENTARY INFORMATION: 

Full Text of Announcement 

I. Funding Opportunity Description 

Purpose of Program: The EIR program, 

established under section 4611 of the 

Elementary and Secondary Education 

Act, as amended (ESEA), provides 

funding to create, develop, implement, 

replicate, or take to scale 

entrepreneurial, evidence-based (as 

defined in this notice), field-initiated 

innovations to improve student 

achievement and attainment for highneed students and to rigorously evaluate 

such innovations. The EIR program is 

designed to generate and validate 

solutions to persistent education 

challenges and to support the expansion 

of those solutions to serve substantially 

higher numbers of students. 

The central design element of the EIR 

program is its multitier structure that 

links the amount of funding an 

applicant may receive to the quality of 

the evidence supporting the efficacy of 

the proposed project, with the 

expectation that projects that build this 

evidence will advance through EIR’s 

grant tiers: ‘‘Early-phase,’’ ‘‘Mid-phase,’’ 

and ‘‘Expansion.’’ 

‘‘Early-phase,’’ ‘‘Mid-phase,’’ and 

‘‘Expansion’’ grants differ in terms of 

the level of prior evidence of 

effectiveness required for consideration 

for funding, the expectations regarding 

the kind of evidence and information 

funded projects should produce, the 

level of scale funded projects should 

reach, and, consequently, the amount of 

funding available to support each type 

of project. 

Early-phase grants must demonstrate 

a rationale (as defined in this notice). 

Early-phase grants provide funding for 

the development, implementation, and 

feasibility testing of a program, which 

prior research suggests has promise, for 

the purpose of determining whether the 

program can successfully improve 

student achievement and attainment for 

high-need students. Early-phase grants 

are not intended simply to implement 

established practices in additional 

locations or address needs that are 

unique to one particular context. The 

goal is to determine whether and in 

what ways relatively new practices can 

improve student achievement and 

attainment for high-need students. 

This notice invites applications for 

Early-phase grants only. The notices 

inviting applications for Mid-phase and 

Expansion grants are published 

elsewhere in this issue of the Federal 

Register. 

Background 

While this notice is for the Earlyphase tier only, the premise of the EIR 

program is that new and innovative 

educational programs and practices can 

help to overcome the persistent and 

significant challenges to student 

success, particularly for underserved 

and high-need students. 

Note: The EIR program statute refers 

to ‘‘high-need students’’ but allows 

applicants to define the term as it relates 

to the proposed project, population, and 

setting. In addressing the needs of 

underserved students, the statutory 

requirement for serving ‘‘high-need 

students’’ can also be addressed. 

These innovations need to be 

evaluated, and, if sufficient evidence of 

effectiveness can be demonstrated, the 

intent is for these innovations to be 

replicated and tested in new 

populations and settings. EIR is not 

intended to provide support for 

practices that are already commonly 

implemented by educators, unless 

significant adaptations of such practices 

warrant testing to determine if they can 

accelerate achievement or increase the 

likelihood that the practices can be 

widely, efficiently, and effectively 

implemented in new populations and 

settings. 

As an EIR project is implemented, 

grantees are encouraged to learn more 

about how the practices improve 

student achievement and attainment 

and to develop increasingly rigorous 

evidence of effectiveness and new 

strategies to efficiently and costeffectively scale to new school districts, 

regions, and States. To meet the 

required evidence level, applicants must 

develop a logic model (as defined in this 

notice), theory of action, or another 

conceptual framework that includes the 

goals, objectives, outcomes, and key 

project components (as defined in this 

notice) of the project. 

All EIR applicants and grantees 

should also consider how they need to 

develop their organizational capacity, 

project financing, or business plans to 

sustain their projects and continue 

implementation and adaptation after 

Federal funding ends. The Department 

intends to provide grantees with 


lotter on DSK11XQN23PROD with NOTICES1