Document ID: SEC-2013-0289-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Depository Trust Co.
Posted Date: 2013-02-11T05:00Z

[Federal Register Volume 78, Number 28 (Monday, February 11, 2013)]
[Notices]
[Page 9762]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-02953]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68834; File No. SR-DTC-2012-10]

Self-Regulatory Organizations; The Depository Trust Company; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change To Reduce Liquidity Risk Relating to Its 
Processing of Maturity and Income Presentments and Issuances of Money 
Market Instruments

February 5, 2013.
    On December 17, 2012, The Depository Trust Company (``DTC'') filed 
with the Securities and Exchange Commission (``Commission'') proposed 
rule change SR-DTC-2012-10 pursuant to Section 19(b)(1) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder.\2\ The proposed rule change was published for comment in 
the Federal Register on January 4, 2013.\3\ The Commission received one 
comment on the proposal.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 34-68548 (Dec. 28, 
2012), 78 FR 795 (Jan. 4, 2013).
    \4\ See Comment from Karen Jackson dated December 30, 2012 
(http://sec.gov/comments/sr-dtc-2012-10/dtc201210-1.htm). The 
comment discussed matters outside the scope of the proposal.
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    Section 19(b)(2) of the Act \5\ 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 from the publication of notice of the filing of this proposed 
rule change is February 18, 2013. The Commission is extending this 45-
day time period.
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    \5\ See 15 U.S.C. 78s(b)(2).
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    The proposed rule change would permit DTC to alter the mechanism of 
DTC's processing of maturity and income presentments and issuances of 
money market instruments. The Commission finds it appropriate to 
designate a longer period within which to take action on the proposed 
rule change so that it has sufficient time to consider the complex 
issues under the proposed rule change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates April 4, 2013 as the date by which the Commission 
should either approve or disapprove, or institute proceedings to 
determine whether to disapprove, the proposed rule change.
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-02953 Filed 2-8-13; 8:45 am]
BILLING CODE 8011-01-P