On August 19th, the SEC granted accelerated approval to the Fixed Income Clearing Corporation's proposal to temporarily modify the rules of FICC's Government Securities Division regarding the calculation of clearing fund requirements relating to inter-dealer broker ("IDB") positions. The proposal changes to one day, the period of time in which the liquidation of a defaulting member's open position will be assumed to occur. The original assumption of a three-day liquidation period will continue to apply to non-IDB activity. The temporary modification will be in effect through February 18, 2011. SEC Release No. 34-62743.