43052 Federal Register / Vol. 82, No. 176 / Wednesday, September 13, 2017 / Notices 

Dated at Rockville, Maryland, this 7th day 

of September, 2017. 

For the Nuclear Regulatory Commission. 

David Cullison, 

NRC Clearance Officer, Office of the Chief 

Information Officer. 

[FR Doc. 2017–19368 Filed 9–12–17; 8:45 am] 

BILLING CODE 7590–01–P 

RAILROAD RETIREMENT BOARD 

Agency Forms Submitted for OMB 

Review, Request for Comments 

Summary: In accordance with the 

Paperwork Reduction Act of 1995, the 

Railroad Retirement Board (RRB) is 

forwarding an Information Collection 

Request (ICR) to the Office of 

Information and Regulatory Affairs 

(OIRA), Office of Management and 

Budget (OMB). Our ICR describes the 

information we seek to collect from the 

public. Review and approval by OIRA 

ensures that we impose appropriate 

paperwork burdens. 

The RRB invites comments on the 

proposed collections of information to 

determine (1) the practical utility of the 

collections; (2) the accuracy of the 

estimated burden of the collections; (3) 

ways to enhance the quality, utility, and 

clarity of the information that is the 

subject of collection; and (4) ways to 

minimize the burden of collections on 

respondents, including the use of 

automated collection techniques or 

other forms of information technology. 

Comments to the RRB or OIRA must 

contain the OMB control number of the 

ICR. For proper consideration of your 

comments, it is best if the RRB and 

OIRA receive them within 30 days of 

the publication date. 

1. Title and purpose of information 

collection: Supplemental Information on 

Accident and Insurance; OMB 3220– 

0036. 

Under Section 12(o) of the Railroad 

Unemployment Insurance Act (RUIA), 

the Railroad Retirement Board (RRB) is 

entitled to reimbursement of the 

sickness benefits paid to a railroad 

employee if the employee receives a 

sum or damages for the same infirmity 

for which the benefits are paid. Section 

2(f) of the RUIA requires employers to 

reimburse the RRB for days in which 

salary, wages, pay for time lost or other 

remuneration is later determined to be 

payable. Reimbursements under section 

2(f) generally result from the award of 

pay for time lost or the payment of 

guaranteed wages. The RUIA prescribes 

that the amount of benefits paid be 

deducted and held by the employer in 

a special fund for reimbursement to the 

RRB. 

The RRB currently utilizes Forms SI– 

1c, Supplemental Information on 

Accident and Insurance; SI–5, Report of 

Payments to Employee Claiming 

Sickness Benefits Under the RUIA; ID– 

3s and ID–3s (Internet), Request for Lien 

Information—Report of Settlement; ID– 

3s-1, Lien Information Under Section 

12(o) of the RUIA; ID–3u and ID–3u 

(Internet), Request for Section 2(f) 

Information; ID–30k, Notice to Request 

Supplemental Information on Injury or 

Illness; and ID–30k-1, Notice to Request 

Supplemental Information on Injury or 

Illness; to obtain the necessary 

information from claimants and railroad 

employers. Completion is required to 

obtain benefits. One response is 

requested of each respondent. 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (82 FR 31108 on July 5, 

2017) required by 44 U.S.C. 3506(c)(2). 

That request elicited no comments. 

Information Collection Request (ICR) 

Title: Supplemental Information on 

Accident and Insurance. 

OMB Control Number: 3220–0036. 

Form(s) submitted: SI–1c, SI–5, ID–3s, 

ID–3s (Internet), ID–3s.1, ID3u, ID–3u 

(Internet), ID–30k, and ID–30k.1. 

Type of request: Extension without 

change of a currently approved 

collection. 

Affected public: Individuals or 

Households. 

Abstract: The Railroad 

Unemployment Insurance Act provides 

for the recovery of sickness benefits 

paid if an employee receives a 

settlement for the same injury for which 

benefits were paid. The collection 

obtains information that is needed to 

determine the amount of the RRB’s 

reimbursement from the person or 

company responsible for such 

payments. 

Changes proposed: The RRB proposes 

no changes to the forms in the 

collection. 

The burden estimate for the ICR is as 

follows: 

Form No. Annual 

responses 

Time 

(minutes) 

Burden 

(hours) 

SI–1c ............................................................................................................................................ 475 5 40 

SI–5 .............................................................................................................................................. 7 5 1 

ID–3s (Paper & Telephone) ......................................................................................................... 4,000 3 200 

ID–3s (Internet) ............................................................................................................................ 2,000 3 100 

ID–3s–1 (Paper & Telephone) ..................................................................................................... 3,000 3 150 

ID–3u (Paper & Telephone) ........................................................................................................ 400 3 20 

ID–3u (Internet) ............................................................................................................................ 200 3 10 

ID–30k .......................................................................................................................................... 55 5 5 

ID–30k.1 ....................................................................................................................................... 65 5 5 

Total ...................................................................................................................................... 10,202 ........................ 531 

2. Title and Purpose of information 

collection: Pension Plan Reports; OMB 

3220–0089. Under Section 2(b) of the 

Railroad Retirement Act (RRA), the 

Railroad Retirement Board (RRB) pays 

supplemental annuities to qualified RRB 

employee annuitants. A supplemental 

annuity, which is computed according 

to Section 3(e) of the RRA, can be paid 

at age 60 if the employee has at least 30 

years of creditable railroad service or at 

age 65 if the employee has 25–29 years 

of railroad service. In addition to 25 

years of service, a ‘‘current connection’’ 

with the railroad industry is required. 

Eligibility is further limited to 

employees who had at least 1 month of 

rail service before October 1981 and 

were awarded regular annuities after 

June 1966. Further, if an employee’s 

65th birthday was prior to September 2, 

1981, he or she must not have worked 

in rail service after certain closing dates 

(generally the last day of the month 

following the month in which age 65 is 

attained). Under Section 2(h)(2) of the 

RRA, the amount of the supplemental 

annuity is reduced if the employee 

receives monthly pension payments, or 

a lump-sum pension payment from a 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 82, No. 176 / Wednesday, September 13, 2017 / Notices 43053 

private pension from a railroad 

employer, to the extent the payments 

are based on contributions from that 

employer. The employee’s own 

contribution to their pension account 

does not cause a reduction. A private 

railroad employer pension is defined in 

20 CFR 216.42. 

The RRB requires the following 

information from railroad employers to 

calculate supplemental annuities: (a) 

The current status of railroad employer 

pension plans and whether such plans 

cause reductions to the supplemental 

annuity; (b) whether the employee 

receives monthly payments from a 

private railroad employer pension, 

elected to receive a lump sum in lieu of 

monthly pension payments from such a 

plan, or was required to receive a lump 

sum from such a plan due to the plan’s 

small benefit provision; and (c) the 

amount of the payments attributable to 

the railroad employer’s contributions. 

The requirement that railroad employers 

furnish pension information to the RRB 

is contained in 20 CFR 209.2. 

The RRB currently utilizes Form G– 

88p and G–88p (Internet), Employer’s 

Supplemental Pension Report, and 

Form G–88r, Request for Information 

About New or Revised Employer 

Pension Plan, to obtain the necessary 

information from railroad employers. 

One response is requested of each 

respondent. Completion is mandatory. 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (82 FR 31108 on July 5, 

2017) required by 44 U.S.C. 3506(c)(2). 

That request elicited no comments. 

Information Collection Request (ICR) 

Title: Pension Plan Reports. 

OMB Control Number: 3220–0089. 

Forms submitted: G–88p and G–88r. 

Type of request: Revision of a 

currently approved collection of 

information. 

Affected public: Businesses or other 

for-profits. 

Abstract: The Railroad Retirement Act 

provides for payment of a supplemental 

annuity to a qualified railroad 

retirement annuitant. The collection 

obtains information from the annuitant’s 

employer to determine (a) the existence 

of railroad employer pension plans and 

whether such plans, if they exist, 

require a reduction to supplemental 

annuities paid to the employer’s former 

employees and (b) the amount of 

supplemental annuities due railroad 

employees. 

Changes proposed: The RRB proposes 

to revise Forms G–88p and G–88p 

(Internet) to acquire more accurate 

employee pension information by 

asking the employer whether the 

employee is currently eligible for a 

pension and instructing the employer to 

indicate whether the employee filed for 

the pension or instead elected to defer 

distribution from the pension account in 

Items 11a and 11b (paper) and Items 10a 

and 10b (Internet). The RRB also 

proposes to make other editorial 

changes. The RRB proposes no changes 

to Form G–88r. 

The burden estimate for the ICR is as 

follows: 

Form No. Annual 

responses 

Time 

(minutes) 

Burden 

(hours) 

G–88p .......................................................................................................................................... 100 8 13 

G–88p (Internet) .......................................................................................................................... 200 6 20 

G–88r ........................................................................................................................................... 10 8 1 

Total ...................................................................................................................................... 310 ........................ 34 

3. Title and Purpose of information 

collection: Statement Regarding 

Contributions and Support; OMB 3220– 

0099. 

Under Section 2 of the Railroad 

Retirement Act, dependency on an 

employee for one-half support at the 

time of the employee’s death can affect 

(1) entitlement to a survivor annuity 

when the survivor is a parent of the 

deceased employee; (2) the amount of 

spouse and survivor annuities; and (3) 

the Tier II restored amount payable to a 

widow(er) whose annuity was reduced 

for receipt of an employee annuity, and 

who was dependent on the railroad 

employee in the year prior to the 

employee’s death. One-half support may 

also negate the public service pension 

offset in Tier I for a spouse or 

widow(er). The Railroad Retirement 

Board (RRB) utilizes Form G–134, 

Statement Regarding Contributions and 

Support, to secure information needed 

to adequately determine if the applicant 

meets the one-half support requirement. 

One response is completed by each 

respondent. Completion is required to 

obtain benefits. 

Previous Requests for Comments: The 

RRB has already published the initial 

60-day notice (82 FR 31109 on July 5, 

2017) required by 44 U.S.C. 3506(c)(2). 

That request elicited no comments. 

Information Collection Request (ICR) 

Title: Statement Regarding 

Contributions and Support. 

OMB Control Number: 3220–0099. 

Form(s) submitted: G–134. 

Type of request: Extension without 

change of a currently approved 

collection. 

Affected public: Individuals or 

Households. 

Abstract: Dependency on the 

employee for one-half support at the 

time of the employee’s death can be a 

condition affecting eligibility for a 

survivor annuity provided for under 

Section 2 of the Railroad Retirement 

Act. One-half support is also a condition 

which may negate the public service 

pension offset in Tier I for a spouse or 

widow(er). 

Changes proposed: The RRB proposes 

no changes to Form G–134. 

The burden estimate for the ICR is as 

follows: 

Form No. Annual 

responses 

Time 

(minutes) 

Burden 

(hours) 

G–134: 

With Assistance .................................................................................................................... 75 147 184 

Without assistance ............................................................................................................... 25 180 75 

Total ............................................................................................................................... 100 ........................ 259 


sradovich on DSK3GMQ082PROD with NOTICES
43054 Federal Register / Vol. 82, No. 176 / Wednesday, September 13, 2017 / Notices 

1 12 U.S.C. 5465(e)(1). The Financial Stability 

Oversight Council designated NSCC a systemically 

important financial market utility on July 18, 2012. 

See Financial Stability Oversight Council 2012 

Annual Report, Appendix A, http://

www.treasury.gov/initiatives/fsoc/Documents/2012

%20Annual%20Report.pdf. Therefore, NSCC is 

required to comply with the Clearing Supervision 

Act and file advance notices with the Commission. 

See 12 U.S.C. 5465(e). 

2 17 CFR 240.19b–4(n)(1)(i). 

3 15 U.S.C. 78s(b)(1). 

4Securities Exchange Act Release No. 81286 

(August 2, 2017), 82 FR 37141 (August 8, 2017) 

(SR–NSCC–2017–804) (‘‘Notice’’). NSCC also filed a 

related proposed rule change with the Commission 

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

and Rule 19b–4 thereunder, seeking approval of 

changes to its rules necessary to implement the 

Advance Notice. 15 U.S.C. 78s(b)(1) and 17 CFR 

240.19b–4, respectively. The proposed rule change 

was published in the Federal Register on July 31, 

2017. Securities Exchange Act Release No. 81203 

(July 25, 2017), 82 FR 35563 (July 31, 2017) (SR– 

NSCC–2017–010). The Commission did not receive 

any comments on that proposal. 

5Specific wrong-way risk is the risk that an 

exposure to a counterparty is highly likely to 

increase when the creditworthiness of that 

counterparty is deteriorating. See Principles for 

financial market infrastructures, issued by the 

Committee on Payment and Settlement Systems and 

the Technical Committee of the International 

Organization of Securities Commissions 47 n.65 

(April 2012), available at http://www.bis.org/publ/ 

cpss101a.pdf. 

6As part of this proposal, NSCC proposes to 

define in its rules that, for a given Member, a 

family-issued security is a security that was issued 

by such Member or an affiliate of such Member. 

7As part of its ongoing monitoring of its 

membership, NSCC utilizes an internal credit risk 

rating matrix to rate its risk exposures to its 

Members based on a scale from 1 (the strongest) to 

7 (the weakest). Members that fall within the 

weakest three rating categories (i.e., 5, 6, and 7) are 

placed on NSCC’s ‘‘Watch List’’ and, as provided 

under NSCC’s Rules and Procedures (‘‘Rules’’), may 

be subject to enhanced surveillance or additional 

margin charges. See Section 4 of Rule 2B and 

Section I(B)(1) of Procedure XV of NSCC’s Rules, 

available at http://dtcc.com/∼/media/Files/ 

Downloads/legal/rules/nscc_rules.pdf. 

8More specifically, fixed-income securities that 

are family-issued securities are charged a rate of no 

less than 80 percent for firms that are rated 6 or 7 

on the credit risk rating matrix, and no less than 

40 percent for firms that are rated 5 on the credit 

risk rating matrix. Equity securities that are familyissued securities are charged a rate of 100 percent 

for firms that are rated 6 or 7 on the credit risk 

rating matrix, and no less than 50 percent for firms 

that are rated 5 on the credit risk rating matrix. 

9 In a default scenario, NSCC would receive the 

family-issued securities from a Member’s 

guaranteed long transactions and would have to 

liquidate the holding to unwind NSCC’s position. 

Additional Information or Comments: 

Copies of the forms and supporting 

documents can be obtained from Dana 

Hickman at (312) 751–4981 or 

Dana.Hickman@RRB.GOV. 

Comments regarding the information 

collection should be addressed to Brian 

Foster, Railroad Retirement Board, 844 

North Rush Street, Chicago, Illinois, 

60611–1275 or Brian.Foster@rrb.gov and 

to the OMB Desk Officer for the RRB, 

Fax: 202–395–6974, Email address: 

OIRA_Submission@omb.eop.gov. 

Brian D. Foster, 

Clearance Officer. 

[FR Doc. 2017–19442 Filed 9–12–17; 8:45 am] 

BILLING CODE 7905–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81545; File No. SR–NSCC– 

2017–804] 

Self-Regulatory Organizations; 

National Securities Clearing 

Corporation; Notice of No Objection to 

an Advance Notice To Expand the 

Application of the Family-Issued 

Securities Charge 

September 7, 2017. 

On July 10, 2017, National Securities 

Clearing Corporation (‘‘NSCC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) advance 

notice SR–NSCC–2017–804 (‘‘Advance 

Notice’’) pursuant to Section 806(e)(1) of 

Title VIII of the Dodd-Frank Wall Street 

Reform and Consumer Protection Act 

entitled the Payment, Clearing, and 

Settlement Supervision Act of 2010 

(‘‘Clearing Supervision Act’’) 1 and Rule 

19b–4(n)(1)(i) 2 under the Securities 

Exchange Act of 1934 (‘‘Exchange 

Act’’).3 The Advance Notice was 

published for comment in the Federal 

Register on August 8, 2017.4 The 

Commission did not receive any 

comments on the Advance Notice. This 

publication serves as notice that the 

Commission does not object to the 

changes set forth in the Advance Notice. 

I. Description of the Advance Notice 

The Advance Notice is a proposal by 

NSCC to further address specific wrongway risk 5 that is present when NSCC 

acts as central counterparty to a 

transaction with an NSCC member 

(‘‘Member’’) where the underlying 

securities are securities issued by such 

Member or an affiliate of such Member 

(‘‘family-issued securities’’).6 Currently, 

NSCC applies a targeted margin charge 

to address the specific wrong-way risk 

of family-issued securities transactions 

(‘‘FIS Charge’’) where the Member is on 

NSCC’s Watch List.7 NSCC believes that 

Members on the Watch List present a 

higher credit risk (i.e., a greater risk of 

defaulting on their settlement 

obligations), compared to Members not 

on the Watch List. As such, the familyissued securities of Members on the 

Watch List currently receive a FIS 

Charge because of the increased credit 

risk presented by such Members. As 

described in detail below, NSCC 

proposes in the Advance Notice to 

expand the application of the FIS 

Charge to all Members, regardless of a 

Member’s Watch List status, but still 

maintain a higher FIS Charge for 

Members that present a greater credit 

risk to NSCC, such as Members on the 

Watch List. 

Currently, in calculating a Watch List 

Member’s overall margin charge (i.e., a 

Watch List Member’s required deposit 

to NSCC’s clearing fund), NSCC 

excludes the Member’s net, unsettled 

long position in family-issued securities 

from the volatility component of the 

margin calculation (‘‘VaR Charge’’). 

Instead, for such unsettled long 

positions, NSCC calculates the required 

margin (i.e., the FIS Charge) by 

multiplying the position value by a set 

percentage, which is determined based 

on a Member’s rating on NSCC’s 

internal credit risk rating matrix.8 NSCC 

applies this separate margin calculation 

to deal with specific wrong-way risk 

that arises from these positions because 

NSCC has to liquidate the unsettled 

family-issued security long positions in 

the Member’s portfolio to manage the 

default.9 Given that the Member’s 

default would likely adversely affect 

NSCC’s ability to liquidate such 

positions at full value (because the 

value of the family-issued securities will 

decline in response to the Member’s 

default), NSCC applies the FIS Charge to 

try to address the risk of a shortfall. 

According to NSCC, the FIS Charge 

constitutes a more conservative 

approach to collecting margin on 

family-issued security positions than 

what may be achieved by applying the 

VaR Charge, which does not recognize 

the relationship between the Member 

and the family-issued securities. 

Although the risk of default by 

Members that are not on the Watch List 

is lower than Members on the Watch 

List, NSCC believes that it is appropriate 

to apply the FIS Charge to all Members 

because all Members’ long positions in 

family-issued securities present specific 

wrong-way risk. However, the proposal 

would still maintain the relation 

between the FIS Charge and the 

Member’s risk of default (i.e., the 

Member’s credit risk), while at the same 

time addressing the difference in risk 

posed by equity and fixed-income 

securities. As such, NSCC proposes in 

the Advance Notice to apply the FIS 

Charge to fixed-income securities that 

are family-issued securities of nonWatch List Members at a rate of no less 

than 40 percent, and to equities that are 

family-issued securities of non-Watch 


sradovich on DSK3GMQ082PROD with NOTICES