Aug. 10, 2022
August 10, 2022 I am a member of the public, and am aware of OCC filing SR-OCC-2022-803 The filing requests a rule change the OCC must follow regarding disclosures and funding of its liquidity facility. The requested changes are harmful to US markets and the request changing the rules regarding advanced notice, which has no value to the public, and substantial public harm. Only a dishonest institution can benefit of this rule change: if they plan to follow the rules, there is no need for this change at all. A request for a bailout for the individuals who made risky bets encourages such behavior, as there seems to be no consequences for these actions. Bad actors must be accountable for their actions. The SEC has a moral obligation to deny SR-OCC-2022-803 in its entirety. Failure to do so will aggravate the current conditions of systemic risk that are already present in the global markets and economies.