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lotter on DSK11XQN23PROD with NOTICES1

Federal Register / Vol. 86, No. 208 / Monday, November 1, 2021 / Notices defined as the entities to which ICC has actual or potential credit exposure e.g., settlement banks, custodians, reverse repurchase counterparties. The CMPs describe ICCs requirements for FSPs and the procedures for intraday, daily, and monthly monitoring of the financial and operational capacity of FSPs. This document also includes procedures for placing counterparties on the Watch List and for monitoring and managing ICCs aggregate exposure to entities and their affiliates with which ICC maintains multiple counterparty relationships.
Accordingly, the proposed rule change would continue to ensure that ICC
safeguards its own and its participants assets, minimizes the risk of loss and delay in access to these assets, and invests such assets in instruments with minimal credit, market, and liquidity risks, consistent with the requirements of Rule 17Ad22e16.14
Rule 17Ad22e18 15 requires each covered clearing agency to establish, implement, maintain, and enforce written policies and procedures reasonably designed to establish objective, risk-based, and publicly disclosed criteria for participation, which permit fair and open access by direct and, where relevant, indirect participants and other financial market utilities, require participants to have sufficient financial resources and robust operational capacity to meet obligations arising from participation in the clearing agency, and monitor compliance with such participation requirements on an ongoing basis. The proposed rule change does not change ICCs existing CP membership criteria. The CMPs discuss ICCs standards for counterparty relationships, namely the requirements for CPs and FSPs, and include references to relevant documentation.
The CMPs define the entities included as FSPs to ensure that ICC appropriately identifies and monitors its counterparty relationships. The proposed rule change is designed to more clearly document the standards for counterparty relationships and the associated monitoring processes to ensure that responsible parties carry out their duties and appropriately monitor for compliance with such requirements.
Furthermore, the CMPs require the performance of an annual review of the CP membership criteria to ensure continued sufficiency and appropriateness. As such, the proposed rule change will continue to ensure that participants have sufficient financial resources and robust operational capacity to meet obligations and
promote ICCs ability to monitor compliance for such requirements on an ongoing basis, consistent with Rule 17Ad22e18.16
B Clearing Agencys Statement on Burden on Competition ICC does not believe the proposed rule change would have any impact, or impose any burden, on competition.
The proposed rule change to adopt and formalize the Documents and to retire the FCM and Bank Procedures will apply uniformly across all market participants. Therefore, ICC does not believe the proposed rule change would impose any burden on competition that is inappropriate in furtherance of the purposes of the Act.
C Clearing Agencys Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments relating to the proposed rule change have not been solicited or received. ICC will notify the Commission of any written comments received by ICC.
III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days i as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or ii as to which the self-regulatory organization consents, the Commission will:
A By order approve or disapprove such proposed rule change, or B institute proceedings to determine whether the proposed rule change should be disapproved.
IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act.
Comments may be submitted by any of the following methods:
Electronic Comments Use the Commissions internet comment form http www.sec.gov/
rules/sro.shtml; or Send an email to rule-comments@
sec.gov. Please include File Number SR
ICC2021021 on the subject line.
Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange
Commission, 100 F Street NE, Washington, DC 20549.
All submissions should refer to File Number SRICC2021021. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commissions internet website http www.sec.gov/
rules/sro.shtml. Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commissions Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filings will also be available for inspection and copying at the principal office of ICE Clear Credit and on ICE
Clear Credits website at https
www.theice.com/clear-credit/regulation.
All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions.
You should submit only information that you wish to make available publicly. All submissions should refer to File Number SRICC2021021 and should be submitted on or before November 22, 2021.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.17
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202123676 Filed 102921; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meetings 2:00 p.m. on Thursday, November 4, 2021.

TIME AND DATE:

The meeting will be held via remote means and/or at the Commissions headquarters, 100 F
Street NE, Washington, DC 20549.

PLACE:

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