US Congress House Bill 1610 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on February 15 2011 - 25% progression, died in committee
Action: 2011-05-11 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
Pending: House Subcommittee on General Farm Commodities and Risk Management Committee
Text: Latest bill text (Introduced) [PDF]

Business Risk Mitigation and Price Stabilization Act of 2011 - Amends the Commodity Exchange Act (CEA) and the Securities Exchange Act of 1934 to revise the element of the definition of a major swap participant which states that the participant's outstanding swaps create substantial counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets. Specifies "net" counterparty exposure, thus stating that the major swap participant's outstanding swaps create substantial net counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets. Declares capital and margin requirements governing swap dealers and major swap participants inapplicable to swaps in which one of the counterparties is not: (1) a swap dealer or major swap participant; (2) a specified kind of investment fund; (3) a commodity pool; or (4) the Federal National Mortgage Association (Fannie Mae) or any affiliate, the Federal Home Loan Mortgage Corporation (Freddie Mac) or any affiliate, or a Federal Home Loan Bank. Exempts from margin requirements under the CEA and the Securities Exchange Act of 1934 any swaps entered into before the date upon which specified final rules must be published under the Wall Street Transparency and Accountability Act of 2010, title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Business Risk Mitigation and Price Stabilization Act of 2011

Rep. Michael Grimm [R-NY]	Rep. Mike Coffman [R-CO]	Rep. Scott Garrett [R-NJ]	Rep. Bob Goodlatte [R-VA]
Rep. Randy Neugebauer [R-TX]

Date	Chamber	Action
2011-05-11	House	Referred to the Subcommittee on General Farm Commodities and Risk Management.
2011-05-04	House	Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 19 - 13 .
2011-05-04	House	Subcommittee Consideration and Mark-up Session Held.
2011-05-03	House	Subcommittee Consideration and Mark-up Session Held.
2011-05-02	House	Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
2011-04-15	House	Referred to House Agriculture
2011-04-15	House	Referred to House Financial Services
2011-04-15	House	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.
2011-03-16	House	Hearings Held Prior to Introduction.
2011-02-15	House	Hearings Held Prior to Introduction.

SB947 (Related) 2011-05-11 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB2682 (Related) 2012-03-28 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 342.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/1610/all-info
Text	https://www.congress.gov/112/bills/hr1610/BILLS-112hr1610ih.pdf