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HR 677 113th Congress House Finance and Financial Sector Banking and financial institutions regulation Commodities markets Financial services and investments Government information and archives Securities

Inter-Affiliate Swap Clarification Act

Introduced: February 13, 2013 See on congress.gov
 Everywhere this bill has been 9 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 7, 2013
Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10.
May 7, 2013
Committee Consideration and Mark-up Session Held.
Apr 11, 2013
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Mar 20, 2013
Committee Consideration and Mark-up Session Held.
Mar 20, 2013
Ordered to be Reported (Amended) by Voice Vote.
Mar 14, 2013
Committee Hearings Held.
Mar 1, 2013
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Feb 13, 2013
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.
Feb 13, 2013
Introduced in House
 Plain-English summary Congressional Research Service

Inter-Affiliate Swap Clarification Act - Amends the Commodity Exchange Act and the Securities Exchange Act of 1934, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to exempt from certain regulatory requirements any swaps and security-based swaps entered into by parties neither of which is a swap dealer or a major swap participant: (1) that is also an insured depository institution, (2) that reports information or prepares financial statements on a consolidated basis, or (3) for which a company affiliated with both parties reports information or prepares financial statements on a consolidated basis.

Requires that such exempted agreements, contracts, or transactions be reported to an appropriate data repository, or, if there is no such repository that would accept them, to: (1) the Commodity Futures Trading Commission (CFTC) in the case of exempted swaps, or (2) the Securities and Exchange Commission (SEC) in the case of exempted security-based swaps.

What's happening now May 7, 2013

Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10.

 Committees of jurisdiction 4