# EDGAR Filing Document

**Accession Number:** 0001960243
**File Stem:** 0001445546-23-002211
**Filing Date:** 2023-3
**Character Count:** 3005
**Document Hash:** abf2a60c88cf72a9f376b7cdef68c3f5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001445546-23-002211.hdr.sgml**: 20230502

**ACCESSION NUMBER**: 0001445546-23-002211

**CONFORMED SUBMISSION TYPE**: CORRESP

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230324

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FT 10656
- **CENTRAL INDEX KEY:** 0001960243
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** CORRESP

**BUSINESS ADDRESS:**
- **STREET 1:** C/O FIRST TRUST PORTFOLIOS L.P.
- **STREET 2:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630 765 8000

**MAIL ADDRESS:**
- **STREET 1:** C/O FIRST TRUST PORTFOLIOS L.P.
- **STREET 2:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

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| | |
|:---|:---|
| ![cac_logo](cac.jpg) | **Chapman and Cutler LLP**<br> 320 South Canal Street, 27th Floor<br> Chicago, Illinois 60606<br>T 312.845.3000<br> F 312.701.2361<br> www.chapman.com |

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March 24, 2023

Mark Cowan

U.S. Securities and Exchange Commission

Division of Investment Management

Disclosure Review Office

100 F Street, N.E.

Washington, D.C. 20549

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: | FT 10656 |
|  | FT High Income Municipal Model Portfolio, Series 2 |
|  | (the "Trust") |
|  | CIK No. 1960243 File No. 333-269854 |

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Dear Mr. Cowan:

We received your comments regarding the Registration Statement for the above captioned Trust. This letter serves to respond to your comments.

**Comments**

<u>Portfolio</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. The Staff notes that distressed debt securities is a principal risk factor. If investment in distressed municipal bonds is a principal investment for the Trust, please add appropriate disclosure.** 

Response: If, based on the Trust's final portfolio, the Trust has material exposure to distressed municipal bonds, relevant disclosure will be added to the Trust's prospectus.

<u>Risk Factors</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. If the Trust will have material exposure to the municipal bonds issued by any jurisdiction experiencing financial distress, please identify that jurisdiction and add relevant risk disclosure.** 

Response: If, based on the Trust's final portfolio, the Trust has material exposure to any jurisdiction experiencing financial distress, relevant disclosure will be added to the Trust's prospectus.

We appreciate your prompt attention to this Registration Statement. If you have any questions or comments or would like to discuss our responses to your questions, please feel free to contact Brian D. Free at (312) 845-3017 or the undersigned at (312) 845-3721.

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| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| Chapman and Cutler llp | Chapman and Cutler llp |
| By: | &nbsp;&nbsp;/s/ Daniel J. Fallon |
|  | &nbsp;&nbsp;Daniel J. Fallon  |

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