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HR 4717 116th Congress House Finance and Financial Sector Banking and financial institutions regulation Commodities markets Contracts and agency

Swap Trading Improvement Act

Introduced: October 17, 2019 Introduced by: Crawford, Eric A. "Rick" Republican · Arkansas See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 8, 2019
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Oct 17, 2019
Referred to the House Committee on Agriculture.
Oct 17, 2019
Introduced in House
 Plain-English summary Congressional Research Service

Swap Trading Improvement Act

This bill revises provisions regarding swap execution facilities (i.e., trading platforms for speculators exchanging the benefit or liability of two financial instruments).

The bill eliminates the requirement that swap execution facilities must adopt position limitations or position accountability for speculators.

The bill allows a swap execution facility to delegate certain core functions to a third party. Currently, these functions may only be delegated to other registered entities.

Additionally, the bill revises the required adequate financial resources of a swap execution facility. Currently, a facility must be able to cover the operating costs of a one year period. The bill requires the facility to cover the greater amount of the operating costs of a 90 day period, or to enable an orderly wind down of its operations.

What's happening now November 8, 2019

Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1