Keep Repos to Maturity on Balance Sheet Act of 2013
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Aug 2, 2013)
Keep Repos to Maturity on Balance Sheet Act of 2013 - Directs the Securities and Exchange Commission (SEC), in establishing accounting principles or standards for purposes of the securities laws, to require that a repurchase-to-maturity transaction be treated as a secured borrowing in which the transferred asset serves as collateral.
Defines "repurchase-to-maturity transaction" as one in which: (1) a financial asset is transferred in exchange for cash, other financial assets, or letters of credit; and (2) concurrently the transferor and the transferee agree that, at the asset's maturity, the transferee may either return the transferred asset (or a substantially similar asset) to the transferor, or redeem the transferred asset from the issuer of the transferred asset.
What just happenedAug 2, 2013
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseAug 2, 2013
- Aug 2, 2013IntroReferralH11100
Referred to the House Committee on Financial Services.
- Aug 2, 2013IntroReferralIntro-H
Introduced in House
- Aug 2, 2013IntroReferral1000
Introduced in House