A bill to amend title 11 of the United States Code, the bankruptcy code, regarding swap agreements.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Apr 13, 1988)
Amends Federal bankruptcy law to define "swap agreements" and "swap participant."
Exempts various transactions in connection with interest rate and currency swap agreements from the automatic stay triggered by the filing of a bankruptcy petition.
Prohibits the trustee in bankruptcy from avoiding any transfer made under a swap agreement before commencement of the bankruptcy case or any setoff in connection with a swap agreement if the offset is made within 90 days prior to the bankruptcy filing.
Provides that the contractual right of a nonbankrupt party to a swap agreement to terminate the agreement shall not be stayed or otherwise limited under Federal bankruptcy law or by related judicial or administrative proceedings.
What just happenedOct 24, 1988
Referred to Subcommittee on Monopolies and Commercial Law.
Who’s behind it
- Oct 24, 1988CommitteeH11000
Referred to Subcommittee on Monopolies and Commercial Law.
Administrative State, Regulatory Reform, and Antitrust Subcommittee - Oct 19, 1988IntroReferralH11100
Referred to House Committee on The Judiciary.
Judiciary Committee - Oct 18, 1988Floor
Message on Senate action sent to the House.
- Oct 14, 1988Floor
Passed Senate without amendment by Voice Vote.
- Oct 14, 1988Floor17000
Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
- Oct 5, 1988Calendars
Placed on Senate Legislative Calendar under General Orders. Calendar No. 1074.
- Oct 5, 1988Committee
Committee on Judiciary. Reported to Senate by Senator Biden without amendment. Without written report.
Judiciary Committee - Oct 5, 1988Committee14000
Committee on Judiciary. Reported to Senate by Senator Biden without amendment. Without written report.
Judiciary Committee - Oct 5, 1988Committee
Committee on Judiciary. Ordered to be reported without amendment favorably.
Judiciary Committee - Jun 10, 1988Committee
Subcommittee on Courts and Administrative Practice. Hearings held.
Administrative Oversight and the Courts Subcommittee - May 4, 1988Committee
Referred to Subcommittee on Courts and Administrative Practice.
Administrative Oversight and the Courts Subcommittee - Apr 13, 1988IntroReferral
Read twice and referred to the Committee on Judiciary.
Judiciary Committee - Apr 13, 1988IntroReferral10000
Introduced in Senate