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Bill113th CongressFiled Sep 15, 2014Finance and Financial Sector
H.R. 5471

To amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to specify how clearing requirements apply to certain affiliate transactions, and for other purposes.

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house without amendment (Dec 2, 2014)

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Amends the Commodity Exchange Act and the Securities Exchange Act of 1934 to revise the treatment of affiliate transactions that may be exempt from clearing requirements to authorize such an exemption only if the affiliate enters into the swap to hedge or mitigate the commercial risk of the person that is not a financial entity (as under current law), provided that an appropriate credit support measure or other mechanism must be used if the hedge or mitigation of commercial risk is addressed by entering into a swap with either: (1) a swap dealer or major swap participant, or (2) a security-based swap with a security- based swap dealer or major security-based swap participant.

What just happenedDec 10, 2014

Referred to the Committee on Agriculture, Nutrition, and Forestry.

Who’s behind it

Rep. Moore, Gwen [D-WI-4](D-WI)Sponsor
3 cosponsors1 D2 R
Read on Congress.gov
3cosponsors4committees15actions3related bills2subjects
  1. Dec 10, 2014IntroReferral

    Referred to the Committee on Agriculture, Nutrition, and Forestry.

    Agriculture, Nutrition, and Forestry Committee
  2. Dec 10, 2014Discharge

    Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.

    Banking, Housing, and Urban Affairs Committee
  3. Dec 10, 2014Committee14500

    Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.

    Banking, Housing, and Urban Affairs Committee
  4. Dec 3, 2014IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  5. Dec 2, 2014FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  6. Dec 2, 2014FloorH37300

    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H8240)

  7. Dec 2, 2014Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H8240)

  8. Dec 2, 2014FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 5471.

  9. Dec 2, 2014FloorH30000

    Considered under suspension of the rules. (consideration: CR H8240-8244)

  10. Dec 2, 2014FloorH30300

    Mr. Luetkemeyer moved to suspend the rules and pass the bill.

  11. Sep 22, 2014Committee

    Referred to the Subcommittee on General Farm Commodities and Risk Management.

    General Farm Commodities, Risk Management, and Credit Subcommittee
  12. Sep 15, 2014IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Agriculture Committee
  13. Sep 15, 2014IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Financial Services Committee
  14. Sep 15, 2014IntroReferralIntro-H

    Introduced in House

  15. Sep 15, 2014IntroReferral1000

    Introduced in House

Passed House without amendmentDec 2, 201481

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Amends the Commodity Exchange Act and the Securities Exchange Act of 1934 to revise the treatment of affiliate transactions that may be exempt from clearing requirements to authorize such an exemption only if the affiliate enters into the swap to hedge or mitigate the commercial risk of the person that is not a financial entity (as under current law), provided that an appropriate credit support measure or other mechanism must be used if the hedge or mitigation of commercial risk is addressed by entering into a swap with either: (1) a swap dealer or major swap participant, or (2) a security-based swap with a security- based swap dealer or major security-based swap participant.

Introduced in HouseSep 15, 2014

Amends the Commodity Exchange Act and the Securities Exchange Act of 1934 to revise the treatment of affiliate transactions that may be exempt from clearing requirements to authorize such an exemption only if the affiliate enters into the swap to hedge or mitigate the commercial risk of the person that is not a financial entity (as under current law), provided that an appropriate credit support measure or other mechanism must be used if the hedge or mitigation of commercial risk is addressed by entering into a swap with either: (1) a swap dealer or major swap participant, or (2) a security-based swap with a security- based swap dealer or major security-based swap participant.