Aug. 10, 2022
August 10, 2022 As a member of the public, I'm aware of OCC filing SR-OCC-2022-803. This filing from the OCC requests permission to expand their access to liquidity in pension funds due to Clearing Member default, which increases risks to pension funds. Pension funds are well known to be underfunded so exposing pension funds to losses at the OCC due to Clearing Member default would only increase the risks for more pension fund losses. As pension funds are frequently used and guaranteed by government entities at the federal, state and local levels, this unfairly enables shifting risks from a Clearing Member default to taxpayers. Therefore, the SEC should deny this proposal. Risks to the OCC should be managed by the OCC and its Clearing Members neither the public nor taxpayers should pay for bank losses again. EVER. No more bailouts for corporations, pay the piper.