53314 Federal Register / Vol. 73, No. 179 / Monday, September 15, 2008 / Notices 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 58276 

(July 31, 2008), 73 FR 46126. 

4Equity Index-Linked Securities are securities 

that provide for the payment at maturity of a cash 

amount based on the performance of an underlying 

index or indexes of equity securities (‘‘Equity 

Reference Asset’’). See NYSE Arca Equities Rule 

5.2(j)(6)(i). 

5The Exchange stated that detailed descriptions 

of the Notes, the Index (including the methodology 

used to determine the composition of the Index), 

fees, redemption procedures and payment at 

redemption, payment at maturity, taxes, and risk 

factors relating to the Notes are available in the 

prospectus or on the Web site for the Notes 

(http://www.credit-suisse.com), as applicable. See 

Credit Suisse’s prospectus, as amended, filed 

pursuant to Rule 424(b)(2) under the Act (File No. 

333–132936–14). 

6NYSE Arca Equities Rule 5.2(j)(6)(B)(I)(1)(b)(v) 

provides that all component securities of the 

underlying index shall be either (A) securities 

(other than foreign country securities and American 

Depository Receipts (‘‘ADRs’’)) that are (x) issued by 

an Act reporting company or by an investment 

company registered under the Investment Company 

Act of 1940, which, in each case, are listed on a 

national securities exchange, and (y) an ‘‘NMS 

stock’’ (as defined in Rule 600 of Regulation NMS) 

or (B) foreign country securities or ADRs, provided 

that foreign country securities or foreign country 

securities underlying ADRs having their primary 

trading market outside the United States on foreign 

trading markets that are not members of the 

Intermarket Surveillance Group (‘‘ISG’’) or parties 

to comprehensive surveillance sharing agreements 

with the Exchange will not in the aggregate 

represent more than 20% of the dollar weight of the 

index. See Securities Exchange Act Release No. 

58376 (August 18, 2008), 73 FR 49726 (August 22, 

2008) (SR–NYSEArca–2008–70) (approving certain 

amendments to NYSE Arca Equities Rule 

5.2(j)(6)(B)(I) and, as a result, renumbering NYSE 

Arca Equities Rule 5.2(j)(6)(B)(I)(1)(b)(vi) to NYSE 

Arca Equities Rule 5.2(j)(6)(B)(I)(1)(b)(v), among 

other subsections). 

7 17 CFR 240.10A–3. 

8See, e.g., Securities Exchange Act Release Nos. 

52204 (August 3, 2005), 70 FR 46559 (August 10, 

2005) (SR–PCX–2005–63); 56637 (October 10, 

2007), 72 FR 58704 (October 16, 2007) (SR– 

NYSEArca–2007–92); 56838 (November 26, 2007), 

72 FR 67774 (November 30, 2007) (SR–NYSEArca– 

2007–118); 56879 (December 3, 2007), 72 FR 69271 

(December 7, 2007) (SR–NYSEArca–2007–110); and 

57132 (January 11, 2008), 73 FR 3300 (January 17, 

2008) (SR–NYSEArca–2007–125). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–21330 Filed 9–12–08; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–58474; File No. SR– 

NYSEArca–2008–79] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Order Approving Proposed 

Rule Change To List and Trade 

ELEMENTSSM Linked to the CS/RT 

Emerging Infrastructure Total Return 

Index Powered by HOLTTM Due 2023 

September 8, 2008. 

I. Introduction 

On July 22, 2008, NYSE Arca, Inc. 

(‘‘Exchange’’ or ‘‘NYSE Arca’’), through 

its wholly owned subsidiary, NYSE 

Arca Equities, Inc. (‘‘NYSE Arca 

Equities’’), filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

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

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a 

proposed rule change to list and trade 

the ELEMENTSTM Linked to the CS/RT 

Emerging Infrastructure Total Return 

Index Powered by HOLTTM due 2023. 

The proposed rule change was 

published for comment in the Federal 

Register on August 7, 2008.3 The 

Commission received no comment 

letters on the proposed rule change. 

This order approves the proposed rule 

change. 

II. Description of the Proposed Rule 

Change 

The Exchange proposed to list and 

trade the ELEMENTSSM Linked to the 

CS/RT Emerging Infrastructure Total 

Return Index Powered by HOLTTM due 

2023 (the ‘‘Notes’’), which are linked to 

the CS/RT Emerging Infrastructure Total 

Return Index Powered by HOLTTM (U.S. 

dollar) (the ‘‘Index’’), under NYSE Arca 

Equities Rule 5.2(j)(6), which includes 

the Exchange’s listing standards for 

Equity Index-Linked Securities.4 The 

Notes are senior unsecured debt 

obligations of Credit Suisse, acting 

through its Nassau Branch (‘‘Credit 

Suisse’’). The Index is comprised of 50 

equally-weighted exchange-listed 

emerging infrastructure-related 

companies that are chosen according to 

a rules-based methodology for scoring 

stocks (each an ‘‘Index Component’’ 

and, collectively, the ‘‘Index 

Components’’). The Index enables 

investors to participate in the 

performance of a selection of companies 

that have a focus on infrastructure, 

power and utilities, or agriculture and 

derive at least 15% of their revenue 

from the Global Emerging Markets 

(‘‘GEM’’). A GEM is defined as any 

country except the United States, 

Canada, Australia, New Zealand, Japan, 

Hong Kong, Singapore, Austria, 

Belgium, Luxembourg, Denmark, 

Finland, France, Germany, Greece, 

Ireland, Italy, the Netherlands, Norway, 

Portugal, Spain, Sweden, and the 

United Kingdom.5

The Exchange submitted the proposed 

rule change because the Index does not 

meet all of the ‘‘generic’’ listing 

requirements of NYSE Arca Equities 

Rule 5.2(j)(6) applicable to the listing of 

Equity Index-Linked Securities. 

Specifically, the Index meets all such 

requirements except for those set forth 

in NYSE Arca Equities Rule 

5.2(j)(6)(B)(I)(1)(b)(v).6 The Exchange 

represented that: (1) Except for NYSE 

Arca Equities Rule 5.2(j)(6)(B)(I)(1)(b)(v), 

the Notes currently satisfy all of the 

generic listing standards under NYSE 

Arca Equities Rule 5.2(j)(6) applicable to 

Equity Index-Linked Securities; (2) the 

continued listing standards under NYSE 

Arca Equities Rule 5.2(j)(6) applicable to 

Equity Index-Linked Securities shall 

apply to the Notes; and (3) Credit Suisse 

is required to comply with Rule 10A–3 

under the Act 7 for the initial and 

continued listing of the Notes. In 

addition, the Exchange represented that 

the Notes will comply with all other 

requirements applicable to Equity 

Index-Linked Securities including, but 

not limited to, requirements relating to 

the dissemination of key information 

such as the Equity Reference Asset 

value, rules and policies governing the 

trading of equity securities, trading 

hours, trading halts, surveillance, 

firewalls, and Information Bulletins to 

ETP Holders, as set forth in prior 

Commission orders approving the 

generic listing rules applicable to the 

listing and trading of Index-Linked 

Securities, generally, and Equity IndexLinked Securities, in particular.8

The Exchange stated that, as of April 

30, 2008, the market capitalization of 

the ten largest Index Components 

accounting for the top 20% of the Index 

weight was approximately $873.9 

billion. The highest weighted stock was 

Vodafone Group PLC, which accounted 

for 2% of the Index weight and had a 

market capitalization of approximately 

$209.6 billion. 

With respect to NYSE Arca Equities 

Rule 5.2(j)(6)(B)(I)(1)(b)(v), which 

requires that at least 80% of the 

component stock trade on markets that 

are members of ISG or parties to 

comprehensive surveillance sharing 

agreements with the Exchange, the 

Exchange represented that it has 

attempted, but was unable, to enter into 

comprehensive surveillance sharing 

agreements with markets on which 

approximately 36% of the Index 

Components trade. Specifically, the 

Exchange does not have comprehensive 

surveillance sharing agreements with 

Euronext Amsterdam (2%), Euronext 

Lisbon (2%), Euronext Paris (6%), JSE 

Securities Exchange (Johannesburg) 

(6%), Borsa Italiana (Milan) (4%), 

Prague Stock Exchange (2%), Bovespa 

(State of Sa ̃o Paulo Stock Exchange) 

mstockstill on PROD1PC66 with NOTICES

Federal Register / Vol. 73, No. 179 / Monday, September 15, 2008 / Notices 53315 

9For a list of the current members and affiliate 

members of ISG, see http://www.isgportal.com. 

10 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

formation. See 15 U.S.C. 78c(f). 

11 15 U.S.C. 78f(b)(5). 

12 17 CFR 240.19b–4(e). 

13See supra note 6 and accompanying text. 

14See, e.g., Securities Exchange Act Release Nos. 

58437 (August 28, 2008), 73 FR 51684 (September 

4, 2008) (SR–NYSEArca–2008–77) (approving the 

listing and trading of exchange-traded notes linked 

to Barclays Middle East Equities (MSCI GCC)) and 

54944 (December 15, 2006), 71 FR 77432 (December 

26, 2006) (SR–NYSE–2006–69) (approving the 

listing and trading of exchange-traded notes linked 

to the MSCI India Equities Index). 

15See supra note 8 and accompanying text. 

16See, e.g., Securities Exchange Act Release Nos. 

57349 (February 19, 2008), 73 FR 10084 (February 

25, 2008) (SR–NYSEArca–2008–22) and 58437 

(August 28, 2008), 73 FR 51684 (September 4, 2008) 

(SR–NYSEArca–2008–77). See also Securities 

Exchange Act Release Nos. 55953 (June 25, 2007), 

72 FR 36084 (July 2, 2007) (SR–NYSE–2007–46) 

and 56695 (October 24, 2007), 72 FR 61413 (October 

30, 2007) (SR–NYSEArca–2007–111). 

(4%), Singapore Stock Exchange (2%), 

and Bolsa de Madrid (8%), and these 

markets are not members of ISG. 

The Exchange stated that it might be 

unable to obtain surveillance 

information from the above-noted 

exchanges regarding the relevant 

component stocks, but that it intended 

to utilize its existing surveillance 

procedures applicable to derivative 

products, including Equity IndexLinked Securities, to monitor trading in 

the Notes. The Exchange represented 

that such procedures are adequate to 

properly monitor Exchange trading of 

the Notes in all trading sessions and to 

deter and detect violations of Exchange 

rules. The Exchange’s current trading 

surveillance focuses on detecting 

securities trading outside their normal 

patterns. When such situations are 

detected, surveillance analysis follows 

and investigations are opened, where 

appropriate, to review the behavior of 

all relevant parties for all relevant 

trading violations. The Exchange further 

stated that it may obtain information via 

ISG from other exchanges who are 

members of ISG.9

Notwithstanding the Notes’ inability 

to meet the requirements of NYSE Arca 

Equities Rule 5.2(j)(6)(B)(I)(1)(b)(v), the 

Exchange believes that the underlying 

Index is sufficiently broad-based in 

scope and, as such, is less susceptible to 

manipulation: The Index contains 50 

companies, listed in 23 countries with 

no one exchange that is not covered by 

a comprehensive surveillance sharing 

agreement listing greater than 8% of 

such companies. The Exchange added 

that no one security dominates the 

underlying Index, thereby serving to 

protect the public interest and promote 

capital formation. 

III. Discussion and Commission’s 

Findings 

After careful review, the Commission 

finds that NYSE Arca’s proposal to list 

and trade the Notes is consistent with 

the Act and the rules and regulations 

thereunder applicable to a national 

securities exchange.10 In particular, the 

Commission finds that the proposed 

rule change is consistent with Section 

6(b)(5) of the Act,11 in that it is 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 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. 

Although NYSE Arca Equities Rule 

5.2(j)(6) permits the Exchange to 

consider Equity Index-Linked Securities 

for listing and trading pursuant to Rule 

19b–4(e) under the Act,12 the Notes do 

not meet all of the generic listing 

requirements thereunder because the 

components of the Index do not meet 

the requirements in NYSE Arca Equities 

Rule 5.2(j)(6)(B)(I)(1)(b)(v).13 NYSE Arca 

Equities Rule 5.2(j)(6)(B)(I)(1)(b)(v) 

provides that that all component 

securities of the underlying index shall 

be either (A) securities (other than 

foreign country securities and ADRs) 

that are (x) issued by an Act reporting 

company or by an investment company 

registered under the Investment 

Company Act of 1940, which, in each 

case, are listed on a national securities 

exchange, and (y) an ‘‘NMS stock’’ (as 

defined in Rule 600 of Regulation NMS) 

or (B) foreign country securities or 

ADRs, provided that foreign country 

securities or foreign country securities 

underlying ADRs having their primary 

trading market outside the United States 

on foreign trading markets that are not 

members of ISG or parties to 

comprehensive surveillance sharing 

agreements with the Exchange will not, 

in the aggregate, represent more than 

20% of the dollar weight of the index. 

According to the Exchange, in the case 

of the Notes, approximately 36% of the 

dollar weight of the Index represents 

Index Components trading on foreign 

trading markets that are not members of 

ISG and with which the Exchange has 

not entered into any comprehensive 

surveillance sharing agreements. 

The Commission notes that the 

Exchange represents that it has 

attempted, but has not been able, to 

enter into comprehensive surveillance 

sharing agreements with Euronext 

Amsterdam, Euronext Lisbon, Euronext 

Paris, JSE Securities Exchange 

(Johannesburg), Borsa Italiana (Milan), 

Prague Stock Exchange, Bovespa (State 

of Sa ̃o Paulo Stock Exchange), 

Singapore Stock Exchange, and Bolsa de 

Madrid. The Commission further notes 

that, in certain limited circumstances, it 

has approved the listing and trading of 

derivative securities products based on 

indices that were composed of stocks for 

which a national securities exchange 

has not entered into a comprehensive 

surveillance sharing agreement with the 

relevant foreign exchange.14 The 

Exchange has represented that it intends 

to utilize its existing surveillance 

procedures applicable to derivative 

products, including Equity IndexLinked Securities, to monitor trading in 

the Notes and that such procedures are 

adequate to properly monitor Exchange 

trading of the Notes in all trading 

sessions and to deter and detect 

violations of Exchange rules. 

In addition, the Exchange has 

represented that the Notes will comply 

with all other requirements applicable 

to Equity Index-Linked Securities 

including, but not limited to, 

requirements relating to the 

dissemination of key information such 

as the Equity Reference Asset value, 

rules and policies governing the trading 

of equity securities, trading hours, 

trading halts, surveillance, firewalls, 

and Information Bulletins to ETP 

Holders, as set forth in prior 

Commission orders approving the 

generic listing rules applicable to the 

listing and trading of Index-Linked 

Securities, generally, and Equity IndexLinked Securities, in particular.15

The Commission believes that the 

listing and trading of the Notes is 

consistent with the Act. The 

Commission notes that, based on the 

Exchange’s representations, the Notes 

otherwise meet all of the other 

applicable generic listing standards 

under NYSE Arca Equities Rule 5.2(j)(6). 

The Commission also notes that the 

Index is composed of securities of 50 

companies listed in 23 countries. The 

Commission further notes that it has 

previously approved the listing and 

trading of derivative securities products 

based on indices that were composed of 

stocks that did not meet certain 

quantitative generic listing criteria.16

For the foregoing reasons, the 

Commission believes that the proposal 

to list and trade the Notes is consistent 

with the Act and finds good cause for 

approving the proposed rule change. 

mstockstill on PROD1PC66 with NOTICES

53316 Federal Register / Vol. 73, No. 179 / Monday, September 15, 2008 / Notices 

17 15 U.S.C. 78s(b)(1). 

18 17 CFR 200.30–3(a)(12). 

This order is based on the Exchange’s 

representations. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,17 that the 

proposed rule change (SR–NYSEArca– 

2008–79) be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–21331 Filed 9–12–08; 8:45 am] 

BILLING CODE 8010–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #11411] 

Florida Disaster Number FL–00036. 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Amendment 3. 

SUMMARY: This is an amendment of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of Florida (FEMA–1785–DR), 

dated 08/24/2008. 

Incident: Tropical Storm Fay. 

Incident Period: 08/18/2008 and 

Continuing. 

Effective Date: 09/08/2008. 

Physical Loan Application Deadline 

Date: 10/23/2008. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 05/25/2009. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX, 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street, SW., Suite 6050, 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: The notice 

of the President’s major disaster 

declaration for Private Non-Profit 

organizations in the State of Florida, 

dated 08/24/2008, is hereby amended to 

include the following areas as adversely 

affected by the disaster. 

Primary Counties: Clay, Flagler, Gulf, 

Highlands, Martin, Nassau, Palm 

Beach, Suwannee, Taylor, Volusia. 

Contiguous Counties (Economic Injury 

Loans Only): 

Georgia: Camden. 

All other information in the original 

declaration remains unchanged. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

Herbert L. Mitchell, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. E8–21409 Filed 9–12–08; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #11311 and #11312] 

Missouri Disaster Number MO–00030 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Amendment 7. 

SUMMARY: This is an amendment of the 

Presidential declaration of a major 

disaster for the State of Missouri 

(FEMA–1773–DR), dated 06/28/2008. 

Incident: Severe Storms and Flooding. 

Incident Period: 06/01/2008 through 

08/13/2008. 

Effective Date: 09/08/2008. 

Physical Loan Application Deadline 

Date: 09/30/2008. 

EIDL Loan Application Deadline Date: 

03/30/2009. 

ADDRESSES: Submit completed loan 

applications to: 

U.S. Small Business Administration, 

Processing and Disbursement Center, 

14925 Kingsport Road, Fort Worth, TX 

76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street, SW., Suite 6050, 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: The notice 

of the Presidential disaster declaration 

for the State of Missouri, dated 06/28/ 

2008 is hereby amended to include the 

following areas as adversely affected by 

the disaster: 

Primary Counties: (Physical Damage and 

Economic Injury Loans): Adair, 

Callaway, Chariton, Harrison, 

Macon, Monroe, Putnam. 

Contiguous Counties: (Economic Injury 

Loans Only): 

Missouri: Boone, Cole, Howard, 

Mercer, Osage, Randolph, Saline, 

Schuyler. 

Iowa: Appanoose, Decatur, Ringgold, 

Wayne. 

All other information in the original 

declaration remains unchanged. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

Herbert L. Mitchell, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. E8–21410 Filed 9–12–08; 8:45 am] 

BILLING CODE 8025–01–P 

DEPARTMENT OF STATE 

[Public Notice: 6361] 

30-Day Notice of Proposed Information 

Collection: DS–7001 and DS–7005, 

DOS-Sponsored Academic Exchange 

Program Application, OMB Control No. 

1405–0138 

ACTION: Notice of request for public 

comment and submission to OMB of 

proposed collection of information. 

SUMMARY: The Department of State has 

submitted the following information 

collection request to the Office of 

Management and Budget (OMB) for 

approval in accordance with the 

Paperwork Reduction Act of 1995. 

• Title of Information Collection: 

DOS-sponsored Academic Exchange 

Program Application. 

• OMB Control Number: 1405–0138. 

• Type of Request: Revision of a 

Currently Approved Collection. 

• Originating Office: Bureau of 

Educational and Cultural Affairs, ECA/ 

A/E/EUR. 

• Form Numbers: DS–7001, DS–7005. 

• Respondents: Applicants for the 

Academic Exchange Program. 

• Estimated Number of Respondents: 

6638. 

• Estimated Number of Responses: 

6638. 

• Average Hours per Response: 0.75. 

• Total Estimated Burden: 4978 

hours. 

• Frequency: Annually. 

• Obligation to Respond: Voluntary. 

DATES: Submit comments to the Office 

of Management and Budget (OMB) for 

up to 30 days from September 15, 2008. 

ADDRESSES: Direct comments and 

questions to Katherine Astrich, the 

Department of State Desk Officer in the 

Office of Information and Regulatory 

Affairs at the Office of Management and 

Budget (OMB), who may be reached at 

202–395–4718. You may submit 

comments by any of the following 

methods: 

• E-mail: kastrich@omb.eop.gov. You 

must include the DS form number, 

information collection title, and OMB 

control number in the subject line of 

your message. 

• Mail (paper, disk, or CD-ROM 

submissions): Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, 725 17th 

Street, NW., Washington, DC 20503. 

• Fax: 202–395–6974. 

FOR FURTHER INFORMATION CONTACT: You 

may obtain copies of the proposed 

information collection and supporting 

documents from Carolina Chavez, U.S. 

Department of State, Bureau of 

mstockstill on PROD1PC66 with NOTICES