Federal Register #SR-OCC-2026-802

OCC Proposal to Amend Evergreen Provisions of Revolving Credit Facility

This SEC notice details the Options Clearing Corporation (OCC) proposal to amend the evergreen provisions of its revolving credit facility. - Government Buyer: - Securities and Exchange Commission (SEC) - Options Clearing Corporation (OCC) as the entity proposing changes - OEMs and Vendors: - Options Clearing Corporation (OCC) - Products/Services Requested: - Amendment to the revolving credit facility's evergreen provisions - Replacement of lead or backup administrative agent without advance notice - Update of facility commitment amount to $2.5 billion, with flexibility to adjust by $500 million - Facility provides short-term secured borrowings, collateralized by U.S. dollars, government securities, equities, ETFs, or ADRs - Unique/Notable Requirements: - Annual renewal for a 364-day term - Solicitation of public comments on proposed amendments - No specific products or part numbers; focus is on financial and administrative services - Non-substantive changes for clarity included

Description

The Options Clearing Corporation (OCC) filed an advance notice with the Securities and Exchange Commission (SEC) proposing amendments to the evergreen provisions of its revolving credit facility. The proposal seeks to allow OCC to replace the lead or backup administrative agent of its revolving credit facility without submitting an advance notice. It also updates the commitment amount of the facility to $2.5 billion with the ability to increase or decrease by $500 million without advance notice, and includes other non-substantive changes for clarity. The revolving credit facility provides short-term secured borrowings and is renewed annually for a 364-day term. The notice solicits public comments on the proposed changes.

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