Aug. 10, 2022
To Whom it May Concern, I oppose and recommend the SEC reject SR-OCC-2022-803 of the OCC's Overall Liquidity Plan. The language below from 803 suggests that the OCC may venture into pension funds and other sources for additional liquidity if an OCC member defaults. The OCC should not be allowed to reach into such sources to cover defaults. "The Non-Bank Liquidity Facility helps OCC minimize losses in the event of a default, suspension, insolvency, or failure to achieve daily settlement, by allowing it to obtain funds from sources not connected to OCC’s Clearing Members on extremely short notice to ensure clearance and settlement of transactions in options and other contracts without interruption." "The NonBank Liquidity Facility program reduces the concentration of OCC’s counterparty exposure with respect to its overall liquidity plan by diversifying its base of liquidity providers among banks and non-bank, non-Clearing Member institutional investors, such as pension funds or insurance companies. " The OCC must hold its members accountable. Wall street must not be bailed out by Main street. Thank you very much for your time and consideration