Document ID: SEC-2023-0142-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Options Clearing Corp.
Posted Date: 2023-02-09T05:00Z

[Federal Register Volume 88, Number 27 (Thursday, February 9, 2023)]
[Notices]
[Page 8505]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-02715]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96797; File No. SR-OCC-2022-012]

Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change Concerning the Options Clearing Corporation's 
Collateral Haircuts and Standards for Clearing Banks and Letters of 
Credit

February 3, 2023.
    On December 5, 2022, The Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-OCC-2022-012 (``Proposed Rule Change'') 
pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(``Exchange Act''),\1\ and Rule 19b-4 thereunder \2\ to change rules, 
policies, and procedures regarding collateral haircuts, minimum 
standards for clearing banks and letter-of-credit issuers, and 
concentration limits for letters of credit.\3\ The Proposed Rule Change 
was published for public comment in the Federal Register on December 
23, 2022.\4\ The Commission has received comments regarding the 
proposal in the Proposed Rule Change.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Notice of Filing infra note 4, 87 FR at 79015.
    \4\ Securities Exchange Act Release No. 96533 (Dec. 19, 2022), 
87 FR 79015 (Dec. 23, 2022) (File No. SR-OCC-2022-012) (``Notice of 
Filing'').
    \5\ Comments on the Proposed Rule Change are available at 
https://www.sec.gov/comments/sr-occ-2022-012/srocc2022012.htm.
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    Section 19(b)(2) of the Exchange Act \6\ provides that, within 45 
days of the publication of notice of the filing of a proposed rule 
change, or within such longer period up to 90 days as the Commission 
may designate if it finds such longer period to be appropriate and 
publishes its reasons for so finding, or as to which the self-
regulatory organization consents, the Commission shall either approve 
the proposed rule change, disapprove the proposed rule change, or 
institute proceedings to determine whether the proposed rule change 
should be disapproved. The 45th day after publication of the Notice of 
Filing is February 6, 2023. The Commission is extending this 45-day 
time period.
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    \6\ 15 U.S.C. 78s(b)(2).
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    In order to provide the Commission with sufficient time to consider 
the Proposed Rule Change, the Commission finds that it is appropriate 
to designate a longer period within which to take action on the 
Proposed Rule Change.
    Accordingly, the Commission, pursuant to section 19(b)(2) of the 
Exchange Act,\7\ designates March 23, 2023 as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove proposed rule change SR-OCC-2022-
012.
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    \7\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(94).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-02715 Filed 2-8-23; 8:45 am]
BILLING CODE 8011-01-P