SECURITIES AND EXCHANGE COMMISSION

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-106318; File No. SR-FICC-2026-008]

Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of

Designation of Longer Period for Commission Action on Proposed Rule Change, as

Modified by Partial Amendment No. 1, to Establish a Guaranty Fund at the

Government Securities Division

September 10, 2026.

On July 24, 2026, Fixed Income Clearing Corporation (“FICC”) filed with the

Securities and Exchange Commission (“Commission”) the proposed rule change SRFICC-2026-008 pursuant to Section 19(b) of the Securities Exchange Act of 1934

(“Exchange Act”)1 and Rule 19b-42 thereunder to modify FICC’s Government Securities

Division (“GSD”) Rulebook (“GSD Rules”)3 to establish a guaranty fund designed to

cover losses that may arise due to a Member default or non-default loss event.4 On

August 4, 2026, FICC filed Partial Amendment No. 1 to make clarifications and

corrections to the proposed rule change (the proposed rule change, as modified by Partial

Amendment No. 1, is hereinafter referred to as the “Proposed Rule Change”).5 The

Proposed Rule Change was published for public comment in the Federal Register on

1

15 U.S.C. 78s(b)(1).

2

17 CFR 240.19b-4.

3

Terms not defined herein are defined in the GSD Rules, available at

www.dtcc.com/~/media/Files/Downloads/legal/rules/ficc_gov_rules.pdf.

4

See Notice of Filing, infra note 6.

5

Partial Amendment No. 1 made certain changes the description of the proposed rule changes that

were incorporated, as appropriate, into the description of the proposed rule change in the Notice of

Filing, infra note 6.

August 11, 2026.6 The Commission has received comments regarding the substance of

the changes proposed in the Proposed Rule Change.7

Section 19(b)(2)(i) of the Exchange Act8 provides that, within 45 days of the

publication of notice of the filing of a proposed rule change, the Commission shall either

approve the proposed rule change, disapprove the proposed rule change, or institute

proceedings to determine whether the proposed rule change should be disapproved unless

the Commission extends the period within which it must act as provided in Section

19(b)(2)(ii) of the Exchange Act.9 Section 19(b)(2)(ii) of the Exchange Act allows the

Commission to designate a longer period for review (up to 90 days from the publication

of notice of the filing of a proposed rule change) if the Commission finds such longer

period to be appropriate and publishes its reasons for so finding, or as to which the selfregulatory organization consents.10

The 45th day after publication of the Notice of Filing is September 25, 2026. In

order to provide the Commission with sufficient time to consider the Proposed Rule

Change, the Commission finds that it is appropriate to designate a longer period within

6

Securities Exchange Act Release No. 106053 (Aug. 6, 2026), 91 FR 51762 (Aug. 11, 2026) (File

No. SR-FICC-2026-008) (“Notice of Filing”). FICC also filed a related advance notice (SR-FICC2026-802) with the Commission pursuant to Section 806(e)(1) of Title VIII of the Dodd-Frank

Wall Street Reform and Consumer Protection Act entitled the Payment, Clearing, and Settlement

Supervision Act of 2010 (“Clearing Supervision Act”) and Rule 19b-4 under the Act, 17 CFR

240.19b-4. On August 4, 2026, FICC filed Partial Amendment No. 1 to the advance notice to

make the same clarifications and corrections to the advance notice as Partial Amendment No. 1 to

the proposed rule change. The advance notice, as modified by Partial Amendment No. 1, was

published in the Federal Register on August 11, 2026. Securities Exchange Act Release No.

106054 (Aug. 6. 2026), 91 FR 51787 (Aug. 11, 2026) (File No. SR-FICC-2026-802).

7

Comments on the Proposed Rule Change are available at https://www.sec.gov/rulesregulations/public-comments/sr-ficc-2026-008.

8

15 U.S.C. 78s(b)(2)(i).

9

15 U.S.C. 78 s(b)(2)(ii).

10

Id.

2

which to take action on the Proposed Rule Change and therefore is extending this 45-day

time period.

Accordingly, the Commission, pursuant to Section 19(b)(2) of the Exchange

Act,11 designates November 9, 2026, as the date by which the Commission shall either

approve, disapprove, or institute proceedings to determine whether to disapprove

proposed rule change SR-FICC-2026-008.

For the Commission, by the Division of Trading and Markets, pursuant to

delegated authority. 12

Sherry R. Haywood,

Assistant Secretary.

11

Id.

12

17 CFR 200.30-3(a)(12).

3