US Congress Senate Bill 2976 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on December 4 2014 - 25% progression, died in committee
Action: 2014-12-04 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Pending: Senate Agriculture, Nutrition, And Forestry Committee
Text: Latest bill text (Introduced) [PDF]

Derivatives End-Users Clarification Act - Amends the Commodity Exchange Act and the Securities Exchange Act of 1934 to revise the treatment of affiliate transactions that may be exempt from clearing requirements to authorize such an exemption only if the affiliate enters into the swap to hedge or mitigate the commercial risk of the person that is not a financial entity (as under current law), on the condition that an appropriate credit support measure or other mechanism shall be used if the hedge or mitigation of commercial risk is addressed by entering into: (1) a swap with either a swap dealer or major swap participant, or (2) a security-based swap with a security-based swap dealer or major security-based swap participant. Applies this subtitle only to swaps or security-based swaps entered into after enactment of this Act.

Derivatives End-Users Clarification Act

Sen. Susan Collins [R-ME]

Sen. Amy Klobuchar [D-MN]

Date	Chamber	Action
2014-12-04	Senate	Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
2014-12-04	Senate	Sponsor introductory remarks on measure. (CR S6351-6352)

HB4413 (Related) 2014-06-25 - Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
HB5405 (Related) 2014-09-17 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB5471 (Related) 2014-12-10 - Referred to the Committee on Agriculture, Nutrition, and Forestry.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/2976/all-info
Text	https://www.congress.gov/113/bills/s2976/BILLS-113s2976is.pdf