Changes to rules, procedures, or operations.

CFR · 2024-01-01 · US · Title 12

(a) (2) The notice of the proposed change shall describe— (i) The nature of the change and expected effects on risks to the designated financial market utility, its participants, or the market; and (ii) How the designated financial market utility plans to manage any identified risks. (3) The Board may require the designated financial market utility to provide additional information necessary to assess the effect the proposed change would have on the nature or level of risks associated with the utility's payment, clearing, or settlement activities and the sufficiency of any proposed risk-management techniques. (4) A designated financial market utility shall not implement a change to which the Board has an objection. (5) The Board will notify the designated financial market utility of any objection before the end of 60 days after the later of— (i) The date the Board receives the notice of proposed change; or (ii) The date the Board receives any further information it requests for consideration of the notice. (6) A designated financial market utility may implement a change if it has not received an objection to the proposed change before the end of 60 days after the later of— (i) The date the Board receives the notice of proposed change; or (ii) The date the Board receives any further information it requests for consideration of the notice. (7) With respect to proposed changes that raise novel or complex issues, the Board may, by written notice during the 60-day review period, e

official document · source cfr-2024 · id 12:§ 234.4