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HR 2057 101th Congress House Finance and Financial Sector Bankruptcy Contracts Debtor and creditor Foreign exchange Interest rates Money Trusts and trustees

To amend title 11 of the United States Code, the bankruptcy code, regarding swap agreements.

Introduced: April 18, 1989 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 25, 1990
See H.R.4612.
Feb 6, 1990
Subcommittee Hearings Held.
Apr 25, 1989
Referred to the Subcommittee on Economic and Commercial Law.
Apr 18, 1989
Referred to the House Committee on Judiciary.
Apr 18, 1989
Introduced in House
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 Plain-English summary Congressional Research Service

Amends Federal bankruptcy law to define "swap agreement" 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 April 25, 1990

See H.R.4612.

 Related & companion bills 1
  • HR 4612 Procedurally related To amend title 11 of the United States Code regarding swap agreements and forward contracts.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 2057: To amend title 11 of the United States Code, the bankruptcy code, regarding swap agreements.. 101st Congress. Open America. https://openamerica.io/bill/101-HR-2057/
MLA
"H.R. 2057: To amend title 11 of the United States Code, the bankruptcy code, regarding swap agreements.." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-HR-2057/.
Bluebook (legal)
H.R. 2057, 101st Cong. (2026), https://openamerica.io/bill/101-HR-2057/.
Markdown link
[H.R. 2057: To amend title 11 of the United States Code, the bankruptcy code, regarding swap agreements.](https://openamerica.io/bill/101-HR-2057/)
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