Federal Register / Vol. 61, No. 104 / Wednesday, May 29, 1996 / Notices 26943

2The Commission has modified parts of these

statements.

3For a complete description of the DCC’s repo

clearance system, see Securities Exchange Act

Release No. 36367 (October 13, 1995), 60 FR 54095.

4 15 U.S.C. 78q–1 (1988).

5 15 U.S.C. 78s(b)(3)(A)(iii) (1988).

6 17 CFR 240.19b–4(e)(4) (1995).

7 17 CFR 200.30–3(a)(12) (1995).

the purpose of and basis for the

proposed rule change and discussed any

comments it received on the proposed

rule change. The text of these statements

may be examined at the places specified

in Item IV below. DCC has prepared

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

and (C) below, of the most significant

aspects of such statements.2

(A) Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

DCC’s repo clearance system clears

transactions in repurchase agreements

that have been agreed to through the

facilities of interdealer brokers that have

been authorized by DCC (‘‘Authorized

Brokers’’) to offer their services to DCC

participants.3 Currently, Liberty

Brokerage, Inc., RMJ Special Brokerage,

Inc., Euro Brokers Maxcor Inc., and

Prebon Securities (USA) Inc. are

Authorized Brokers. The purpose of the

proposed rule change is to notify the

Commission that Tradition has been

added as an Authorized Broker in DCC’s

clearance and settlement system for

repo trades.

Tradition is a wholly owned

subsidiary of Tradition (North America)

Inc. and is registered as a broker-dealer

with the Commission under Rule 15(b)

of the Act. Tradition (North America)

Inc. is a subsidiary of Compagnie

Financiere Tradition of Switzerland,

which is an institutional broker of

money market and debt market

instruments and derivatives.

The proposed rule change will

facilitate the prompt and accurate

clearance and settlement of securities

transactions, and therefore, the

proposed rule change is consistent with

the requirements of the Act, specifically

Section 17A of the Act, and the rules

and regulations thereunder.4

(B) Selff-Regulatory Organization’s

Statement on Burden on Competition

DCC does not believe that the

proposed rule change will impose any

burden on competition that is not

necessary or appropriate in furtherance

of the purposes of the Act.

(C) Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants or Others

Comments were neither solicited nor

received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The foregoing rule change has become

effective pursuant to Section

19(b)(3)(A)(iii) of the Act 5 and Rule

19b–4(e)(4) 6 in that the proposal effects

a change in an existing service of a

registered clearing agency that does not

adversely affect the safeguarding of

securities or funds in the custody or

control of the clearing agency or for

which it is responsible and does not

significantly affect the respective rights

or obligations of the clearing agency or

persons using the service. At any time

within sixty days of the filing of the

proposed rule change, the Commission

may summarily abrogate such rule

change if it appears to the Commission

that such action is necessary or

appropriate in the public interest, for

the protection of investors, or otherwise

in furtherance of the purposes of the

Act.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communciation relating to the proposed

rule change between the Commission

and any person, other than those that

may be withheld from the public in

accordance with the provisions of 5

U.S.C. 552, will be available for

inspection and copying in the

Commission’s Public Reference Section,

450 Fifth Street, N.W., Washington, D.C.

20549. Copies of such filing also will be

available for inspection and copying at

DCC. All submissions should refer to

File No. SR–DCC–96–06 and should be

submitted by June 19, 1996.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.7

Margaret M. McFarland,

Deputy Secretary.

[FR Doc. 96–13331 Filed 5–28–96; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–37237; File No. SR–NYSE–

96–11]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

the New York Stock Exchange, Inc.

Relating to Procedures for Public

Release of Information by its Listed

Companies

May 22, 1996.

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

Securities Exchange Act of 1934

(‘‘Act’’), 15 U.S.C. § 78s(b)(1), notice is

hereby given that on May 7, 1996, the

New York Stock Exchange, Inc.

(‘‘NYSE’’ or ‘‘Exchange’’) 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

prepared by the self-regulatory

organization. The Commission is

publishing this notice to solicit

comments on the proposed rule change

from interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The NYSE is proposing amendments

to its rules governing the procedures

followed by its listed companies for

disseminating material news or

information to the public. These

requirements are contained in Section

202.06(B) and Section 202.06(C) of its

Listed Company Manual. The

amendments would require the

Exchange’s listed companies to

disseminate news or information which

might reasonably be expected to

materially affect the market for their

securities to Bloomberg Business News

(‘‘Bloomberg’’).

II. Self-Regulatory Organization’s

Statement of Purpose of, and Statutory

Basis for, the Proposed Rule Change

In its filing with the Commission, the

self-regulatory organization included

statements concerning the purpose of

and basis for the proposed rule change

and discussed any comments it received

on the proposed rule change. The text

of these statements may be examined at

the places specified in Item IV below.

The self-regulatory organization has

prepared summaries, set forth in

Sections A, B, and C below, of the most

significant aspects of such statements.

A. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

1. Purpose

The Exchange’s timely disclosure

procedures require listed companies to
26944 Federal Register / Vol. 61, No. 104 / Wednesday, May 29, 1996 / Notices

release to the public any news or

information which might reasonably be

expected to materially affect the market

for their securities. Listed companies are

currently required to disseminate

material news to Dow Jones & Company,

Inc. (‘‘Dow Jones’’) and Reuters

Economic Services (‘’Reuters’’). They

are also encouraged, though not

required, to promptly distribute news

releases to Bloomberg. Bloomberg’s

news network has dramatically

expanded in recent years and reaches a

broad base of equity participants and

related subscribers. It is common

practice today among many listed

companies to disseminate material news

to Dow Jones, Reuters and Bloomberg.

The proposed amendment will require

listed companies to disseminate news or

information which might reasonably be

expected to materially affect the market

for their securities to Bloomberg, in

addition to Dow Jones and Reuters.

2. Statutory Basis

The basis under the Act for this

proposed rule change is the requirement

under Section 6(b)(5) that an exchange

have rules that are designed to prevent

fraudulent and manipulative acts and

practices, to promote just and equitable

principles of trade, to foster cooperation

and coordination with persons engaged

in regulating, clearing, settling,

processing information with respect to,

and facilitating transactions in

securities, to remove impediments to

and perfect the mechanism of a free and

open market and a national market

system, and in general, to protect

investors and the public interest.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange does not believe that

the proposed rule change will impose

any inappropriate burden on

competition.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants, or Others

No written comments were either

solicited or received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within 35 days of the publication of

this notice in the Federal Register or

within such longer period (i) as the

Commission may designate up to 90

days of such date if it finds such longer

period to be appropriate and publishes

its reasons for so finding or (ii) as to

which the self-regulatory organization

consents, the Commission will:

(A) By order approve the proposed

rule change, or

(B) Institute proceedings to determine

whether the proposed rule change

should be disapproved.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with the

provisions of 5 U.S.C. § 552, will be

available for inspection and copying at

the Commission’s Public Reference

Section, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the Exchange. All submissions

should refer to File No. SR–NYSE–96–

11 and should be submitted by [INSERT

DATE 21 DAYS FROM DATE OF PUBLICATION].

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 96–13387 Filed 5–28–96; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

[Declaration of Disaster Loan Area #2852]

Illinois; Declaration of Disaster Loan

Area (Amendment #2)

In accordance with notices from the

Federal Emergency Management Agency

dated May 20, 1996, the abovenumbered declaration is hereby

amended to include Cass, Douglas,

Jackson, Sangamon, White, and

Williamson Counties in the State of

Illinois as a disaster area due to damages

caused by severe storms and flooding.

This declaration is further amended to

establish the incident period for this

disaster as beginning on April 28, 1996

and continuing through May 17, 1996.

In addition, applications for economic

injury loans from small businesses

located in the following contiguous

counties may be filed until the specified

date at the previously designated

location: Brown, Champaign, Christian,

Coles, Edgar, Edwards, Gallatin,

Johnson, Logan, Macon, Mason,

Menard, Morgan, Moultrie, Piatt, Pope,

Schuyler, Union, Vermilion, and Wayne

Counties in Illinois; Perry County,

Missouri; and Gibson and Posey

Counties in Indiana.

All other information remains the

same, i.e., the termination date for filing

applications for physical damage is July

5, 1996, and for loans for economic

injury the deadline is February 6, 1997.

(Catalog of Federal Domestic Assistance

Program Nos. 59002 and 59008.)

Dated: May 22, 1996.

Bernard Kulik,

Associate Administrator for Disaster

Assistance.

[FR Doc. 96–13395 Filed 5–28–96; 8:45 am]

BILLING CODE 8025–01–P

Hartford District Advisory Council

Meeting; Public Meeting

The U.S. Small Business

Administration, Hartford District

Advisory Council will hold a public

meeting on Monday, June 17, 1996 at

8:30 a.m. at 2 Science Park, New Haven,

Connecticut 06511, to discuss matters as

may be presented by members, staff of

the U.S. Small Business Administration,

or others present.

For further information, write or call

Ms. Jo-Ann Van Vechten, District

Director, U.S. Small Business

Administration, 330 Main Street,

Hartford, Connecticut, (860) 240–4670.

Dated: May 22, 1996.

Michael P. Novelli,

Director, Office of Advisory Council.

[FR Doc. 96–13396 Filed 5–28–96; 8:45 am]

BILLING CODE 8025–01–P

SOCIAL SECURITY ADMINISTRATION

Representative Payment Advisory

Committee; Meeting

AGENCY: Social Security Administration

(SSA).

ACTION: Notice.

DATES: June 5–6, 1996, 8:30 a.m.–4:30

p.m.; June 7, 1996, 8:30 a.m.–3:30 p.m.

ADDRESSES: Social Security

Administration Headquarters, Altmeyer

Multi-Purpose Auditorium, 6401

Security Blvd., Baltimore, MD 21235.

SUPPLEMENTARY INFORMATION:

Type of meeting: The meeting is open

to the public.

Purpose: In accordance with section

10(a)(2) of the Federal Advisory