H.R. 634
Business Risk Mitigation and Price Stabilization Act of 2013
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsor
Rep. Grimm, Michael G. [R-NY-11]
Bill Details
- Update Date
- Jan 11, 2023
- Origin Chamber
- House
- Bill Type
- HR
- Bill Number
- 634
- Congress
- 113
- Introduced Date
- Feb 13, 2013
- Policy Area
- Finance and Financial Sector
- Is Law
- No
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: Senate
Motion to reconsider laid on the table Agreed to without objection.
Source: House floor actions
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 411 - 12 (Roll no. 215). (text: CR H3301)
Source: House floor actions
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 411 - 12 (Roll no. 215).(text: CR H3301)
Source: Library of Congress
Considered as unfinished business. (consideration: CR H3316-3317)
Source: House floor actions
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Source: House floor actions
DEBATE - The House proceeded with forty minutes of debate on H.R. 634.
Source: House floor actions
Considered under suspension of the rules. (consideration: CR H3301-3304)
Source: House floor actions
Mr. Hensarling moved to suspend the rules and pass the bill, as amended.
Source: House floor actions
Placed on the Union Calendar, Calendar No. 74.
Source: House floor actions
Reported by the Committee on Agriculture. H. Rept. 113-105, Part II.
Source: House floor actions
Reported by the Committee on Agriculture. H. Rept. 113-105, Part II.
Source: Library of Congress
Reported by the Committee on Financial Services. H. Rept. 113-105, Part I.
Source: House floor actions
Reported by the Committee on Financial Services. H. Rept. 113-105, Part I.
Source: Library of Congress
Ordered to be Reported by the Yeas and Nays: 59 - 0.
Source: House committee actions
Committee Consideration and Mark-up Session Held.
Source: House committee actions
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Source: House committee actions
Committee Hearings Held.
Source: House committee actions
Ordered to be Reported by Voice Vote.
Source: House committee actions
Committee Consideration and Mark-up Session Held.
Source: House committee actions
Committee Hearings Held.
Source: House committee actions
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.
Source: House floor actions
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.
Source: House floor actions
Introduced in House
Source: Library of Congress
Introduced in House
Source: Library of Congress
Business Risk Mitigation and Price Stabilization Act of 2013 - Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements because it is not a financial entity, uses swaps to hedge or mitigate commercial risk, and notifies the Commodity Futures Trading Commission (CFTC) how it meets financial obligations associated with entering into non-cleared swaps; or (2) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements.
Amends the Securities Exchange Act of 1934, regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates.
Requires that the amendments to CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued.
Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to CEA made by this Act.
Business Risk Mitigation and Price Stabilization Act of 2013 - Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements because it is not a financial entity, uses swaps to hedge or mitigate commercial risk, and notifies the Commodity Futures Trading Commission (CFTC) how it meets financial obligations associated with entering into non-cleared swaps; (2) is eligible for a public interest exemption from swap clearing requirements for certain cooperative entities; or (3) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements.
Amends the Securities Exchange Act of 1934, regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates.
Requires that the amendments to CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued.
Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to CEA made by this Act.
Banking, Housing, and Urban Affairs Committee
Agriculture Committee
Financial Services Committee