US Congress Senate Bill 3682 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on November 29 2018 - 25% progression, died in committee
Action: 2018-11-29 - 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]

A bill to require the appropriate Federal banking agencies to recognize the exposure-reducing nature of client margin for cleared derivatives. This bill amends the Federal Deposit Insurance Act, the Bank Holding Company Act of 1956, and the Home Owners' Loan Act to exclude initial client margin funds (i.e., funds lent to a client by a broker to facilitate a derivatives contract) from leverage-exposure calculations for purposes of determining whether an insured depository institution, a bank holding company, or a savings and loan holding company is in compliance with federal leverage-based capital standards.

A bill to require the appropriate Federal banking agencies to recognize the exposure-reducing nature of client margin for cleared derivatives.

Sen. David Perdue [R-GA]

Date	Chamber	Action
2018-11-29	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB4659 (Same As) 2018-08-03 - Placed on the Union Calendar, Calendar No. 680.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/3682/all-info
Text	https://www.congress.gov/115/bills/s3682/BILLS-115s3682is.pdf