FICC Rulemaking

We encourage the public to submit comments on the following Fixed Income Clearing Corporation (FICC; formerly Government Securities Clearing Corp.) filings during the comment period. For detailed instructions, please read How to Submit Comments. We strongly encourage you to send your comments electronically. They will be posted on this website.

Chronological List
Fourth Quarter |  Third Quarter |  Second Quarter |  First Quarter

FICC Rulemaking File Number List for 2020

Additional Archives

Chronological List for 2020

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Release No. Date Details
Fourth Quarter
SR-FICC-2020-015
34-90551 Dec. 2, 2020 Notice of Filing of Proposed Rule Change to Include Same-Day Settling Trades in the Risk Management, Novation, Guarantee, and Settlement Services of the Government Securities Division's Delivery-Versus-Payment Service, and Make Other Changes
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
SR-FICC-2020-014
34-90544 Dec. 1, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change, as Modified by Amendment No. 1, to Modify the Clearance Maintenance Fee, Reduce the End of Day Position Fee of the Government Securities Division, and Describe the Current Rebate Policy
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
SR-FICC-2020-013
34-90386 Nov. 10, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Government Securities Division Rulebook to Add a Pre-payment Assessment and Certain Credits in Connection with a New Service, Which Has Not Yet Been Proposed for and Would Be Subject to Regulatory Approval
Comments due: December 8, 2020
Additional Materials: Exhibit 3, Exhibit 5
SR-FICC-2020-012
34-90322 Nov. 3, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Government Securities Division Rulebook to Clarify Which Funds-Only Settlement Payments and Underlying Marks Are Applicable to Certain Transactions, and Make Other Changes
Comments due: November 30, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-009
34-90182 Oct. 14, 2020 Notice of Filing of Amendment No. 2 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment Nos. 1 and 2, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Charge in the VaR Charges
Comments due: November 10, 2020
SR-FICC-2020-010
34-90101 Oct. 6, 2020 Order Approving a Proposed Rule Change to Describe Key Components of the Mortgage-Backed Securities Division Stress Testing Program
SR-FICC-2020-009
34-90083 Oct. 2, 2020 Self-Regulatory Organizations; Fixed Income Clearing Corporation; Designation of Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Charge in the VaR Charges
Third Quarter
SR-FICC-2020-011
34-89631 Aug. 21, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Clarify the Government Securities Division Schedule of Timeframes and Schedule of GCF Repo® Timeframes and Make Other Changes
Comments due: September 17, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-010
34-89616 Aug. 19, 2020 Notice of Filing of Proposed Rule Change to Describe Key Components of the Mortgage-Backed Securities Division Stress Testing Program
Comments due: September 15, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-006
34-89593 Aug. 18, 2020 Order Approving Proposed Rule Change to Provide for a Passive Acknowledgement Process and Make Other Changes
SR-FICC-2020-009
34-89560 Aug. 14, 2020 Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Risk Charge in the VaR Charges
Comments due: September 10, 2020
Additional Materials: Exhibit 3, Exhibit 5
Comments received are available for this proposal.
SR-FICC-2020-008
34-89363 Jul. 21, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Revise the Clearing Agency Policy on Capital Requirements
Comments due: August 17, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-007
34-89270 Jul. 9, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Clearing Agency Risk Management Framework
Comments due: August 5, 2020.
Additional Materials: Exhibit 5
Second Quarter
SR-FICC-2020-006
34-89193 Jun. 30, 2020 Notice of Filing of Proposed Rule Change to Provide for a Passive Acknowledgement Process and Make Other Changes
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
SR-FICC-2020-004
34-88911 May 20, 2020 Order Approving a Proposed Rule Change to Modify the Clearing Agency Model Risk Management Framework
Additional File Nos.: SR-DTC-2020-008, SR-NSCC-2020-008
SR-FICC-2020-002
34-88910 May 20, 2020 Order Approving a Proposed Rule Change to Amend the Government Securities Division Rulebook Relating to the Legal Entity Identifier Requirement
SR-FICC-2020-005
34-88766 Apr. 29, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Modify the Government Securities Division Rulebook, Mortgage-Backed Securities Division Clearing Rules, and Mortgage-Backed Securities Division EPN Rules
Comments due: May 26, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-004
34-88636 Apr. 15, 2020 Notice of Filing of Proposed Rule Change to Modify the Clearing Agency Model Risk Management Framework
Comments due: May 12, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-002
34-88557 Apr. 3, 2020 Notice of Filing of Proposed Rule Change to Amend the Government Securities Division Rulebook Relating to the Legal Entity Identifier Requirement
Comments due: April 30, 2020
Additional Materials: Exhibit 5
First Quarter
SR-FICC-2020-003
34-88512 Mar. 30, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Revise the Clearing Agency Investment Policy
Comments due: April 24, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-001
34-88277 Feb. 25, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Adopt the Interpretive Guidance With Respect to Settlement Finality
Comments due: March 23, 2020
Additional Materials: Exhibit 5
SR-FICC-2019-007
34-88262 Feb. 21, 2020 Order Approving a Proposed Rule Change Regarding the Close-Out and Funds-Only Settlement Processes Associated with the Sponsoring Member/Sponsored Member Service
SR-FICC-2019-007
34-87896 Jan. 6, 2020 Notice of Filing of Proposed Rule Change Regarding the Close-Out and Funds-Only Settlement Processes Associated with the Sponsoring Member/Sponsored Member Service
Comments due: January 31, 2020
Additional Materials: Exhibit 5

File Number List for 2020

Release No. Date Details
SR-FICC-2020-015
34-90551 Dec. 2, 2020 Notice of Filing of Proposed Rule Change to Include Same-Day Settling Trades in the Risk Management, Novation, Guarantee, and Settlement Services of the Government Securities Division's Delivery-Versus-Payment Service, and Make Other Changes
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
SR-FICC-2020-014
34-90544 Dec. 1, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change, as Modified by Amendment No. 1, to Modify the Clearance Maintenance Fee, Reduce the End of Day Position Fee of the Government Securities Division, and Describe the Current Rebate Policy
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
SR-FICC-2020-013
34-90386 Nov. 10, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Government Securities Division Rulebook to Add a Pre-payment Assessment and Certain Credits in Connection with a New Service, Which Has Not Yet Been Proposed for and Would Be Subject to Regulatory Approval
Comments due: December 8, 2020
Additional Materials: Exhibit 3, Exhibit 5
SR-FICC-2020-012
34-90322 Nov. 3, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Government Securities Division Rulebook to Clarify Which Funds-Only Settlement Payments and Underlying Marks Are Applicable to Certain Transactions, and Make Other Changes
Comments due: Npvember 30, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-011
34-89631 Aug. 21, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Clarify the Government Securities Division Schedule of Timeframes and Schedule of GCF Repo® Timeframes and Make Other Changes
Comments due: September 17, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-010
34-90101 Oct. 6, 2020 Order Approving a Proposed Rule Change to Describe Key Components of the Mortgage-Backed Securities Division Stress Testing Program
34-89616 Aug. 19, 2020 Notice of Filing of Proposed Rule Change to Describe Key Components of the Mortgage-Backed Securities Division Stress Testing Program
Comments due: September 15, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-009
34-90182 Oct. 14, 2020 Notice of Filing of Amendment No. 2 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment Nos. 1 and 2, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Charge in the VaR Charges
Comments due: November 10, 2020
34-90083 Oct. 2, 2020 Self-Regulatory Organizations; Fixed Income Clearing Corporation; Designation of Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Charge in the VaR Charges
34-89560 Aug. 14, 2020 Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, to Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Risk Charge in the VaR Charges
Comments due: September 10, 2020
Additional Materials: Exhibit 3, Exhibit 5
Comments received are available for this proposal.
SR-FICC-2020-008
34-89363 Jul. 21, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Revise the Clearing Agency Policy on Capital Requirements
Comments due: August 17, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-007
34-89270 Jul. 9, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Clearing Agency Risk Management Framework
Comments due: August 5, 2020.
Additional Materials: Exhibit 5
SR-FICC-2020-006
34-89593 Aug. 18, 2020 Order Approving Proposed Rule Change to Provide for a Passive Acknowledgement Process and Make Other Changes
34-89193 Jun. 30, 2020 Notice of Filing of Proposed Rule Change to Provide for a Passive Acknowledgement Process and Make Other Changes
Comments due: 21 days after publication in the Federal Register
Additional Materials: Exhibit 5
SR-FICC-2020-005
34-88766 Apr. 29, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Modify the Government Securities Division Rulebook, Mortgage-Backed Securities Division Clearing Rules, and Mortgage-Backed Securities Division EPN Rules
Comments due: May 26, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-004
34-88911 May 20, 2020 Order Approving a Proposed Rule Change to Modify the Clearing Agency Model Risk Management Framework
Additional File Nos.: SR-DTC-2020-008, SR-NSCC-2020-008
34-88636 Apr. 15, 2020 Notice of Filing of Proposed Rule Change to Modify the Clearing Agency Model Risk Management Framework
Comments due: May 12, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-003
34-88512 Mar. 30, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Revise the Clearing Agency Investment Policy
Comments due: April 24, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-002
34-88910 May 20, 2020 Order Approving a Proposed Rule Change to Amend the Government Securities Division Rulebook Relating to the Legal Entity Identifier Requirement
34-88557 Apr. 3, 2020 Notice of Filing of Proposed Rule Change to Amend the Government Securities Division Rulebook Relating to the Legal Entity Identifier Requirement
Comments due: April 30, 2020
Additional Materials: Exhibit 5
SR-FICC-2020-001
34-88277 Feb. 25, 2020 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Adopt the Interpretive Guidance With Respect to Settlement Finality
Comments due: March 23, 2020
Additional Materials: Exhibit 5