US HB634 | 2013-2014 | 113th Congress

Status

Spectrum: Bipartisan Bill
Status: Engrossed on June 13 2013 - 50% progression, died in committee
Action: 2013-06-13 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Business Risk Mitigation and Price Stabilization Act of 2013 - Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements because it is not a financial entity, uses swaps to hedge or mitigate commercial risk, and notifies the Commodity Futures Trading Commission (CFTC) how it meets financial obligations associated with entering into non-cleared swaps; (2) is eligible for a public interest exemption from swap clearing requirements for certain cooperative entities; or (3) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. Amends the Securities Exchange Act of 1934, regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates. Requires that the amendments to CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued. Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to CEA made by this Act.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Business Risk Mitigation and Price Stabilization Act of 2013

Sponsors


Roll Calls

2013-06-12 - House - On Motion to Suspend the Rules and Pass, as Amended (Y: 411 N: 12 NV: 11 Abs: 0) [PASS]

History

DateChamberAction
2013-06-13SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2013-06-12HouseMotion to reconsider laid on the table Agreed to without objection.
2013-06-12HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 411 - 12 (Roll no. 215). (text: CR H3301)
2013-06-12HouseConsidered as unfinished business. (consideration: CR H3316-3317)
2013-06-12HouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
2013-06-12HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 634.
2013-06-12HouseConsidered under suspension of the rules. (consideration: CR H3301-3304)
2013-06-12HouseMr. Hensarling moved to suspend the rules and pass the bill, as amended.
2013-06-12HousePlaced on the Union Calendar, Calendar No. 74.
2013-06-12HouseReported by the Committee on Agriculture. H. Rept. 113-105, Part II.
2013-06-12HouseReported by the Committee on Financial Services. H. Rept. 113-105, Part I.
2013-05-07HouseOrdered to be Reported by the Yeas and Nays: 59 - 0.
2013-05-07HouseCommittee Consideration and Mark-up Session Held.
2013-04-11HouseHearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
2013-03-28HouseCommittee Hearings Held.
2013-03-20HouseOrdered to be Reported by Voice Vote.
2013-03-20HouseCommittee Consideration and Mark-up Session Held.
2013-03-14HouseCommittee Hearings Held.
2013-02-13HouseReferred to House Agriculture
2013-02-13HouseReferred to House Financial Services
2013-02-13HouseReferred 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.

Same As/Similar To

SB888 (Related) 2013-05-08 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 67.
HB2136 (Related) 2013-06-03 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
SB2330 (Related) 2014-05-13 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S2955-2957)
HB5405 (Related) 2014-09-17 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB5461 (Related) 2014-09-17 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Subjects


US Congress State Sources


Bill Comments

feedback