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S 2279 100th Congress Senate Finance and Financial Sector Bankruptcy Contracts Debtor and creditor Foreign exchange Interest Interest rates Monetary policy Money Trusts and trustees

A bill to amend title 11 of the United States Code, the bankruptcy code, regarding swap agreements.

Introduced: April 13, 1988 See on congress.gov
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 Everywhere this bill has been 12 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 24, 1988
Referred to Subcommittee on Monopolies and Commercial Law.
Oct 19, 1988
Referred to House Committee on The Judiciary.
Oct 18, 1988
Message on Senate action sent to the House.
Oct 14, 1988
Passed Senate without amendment by Voice Vote.
Oct 14, 1988
Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
Oct 5, 1988
Placed on Senate Legislative Calendar under General Orders. Calendar No. 1074.
Oct 5, 1988
Committee on Judiciary. Reported to Senate by Senator Biden without amendment. Without written report.
Oct 5, 1988
Committee on Judiciary. Ordered to be reported without amendment favorably.
Jun 10, 1988
Subcommittee on Courts and Administrative Practice. Hearings held.
May 4, 1988
Referred to Subcommittee on Courts and Administrative Practice.
Apr 13, 1988
Read twice and referred to the Committee on Judiciary.
Apr 13, 1988
Introduced in Senate
 Plain-English summary Congressional Research Service

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's happening now October 24, 1988

Referred to Subcommittee on Monopolies and Commercial Law.

 Committees of jurisdiction 4
 Cosponsors 1
All 1 Republican 1