H.R. 1610 (112th): Business Risk Mitigation and Price Stabilization Act of 2011

Introduced:
Apr 15, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Michael Grimm [R-NY13]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 634 on Feb 13, 2013. See H.R. 634 for current action on this subject.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on April 15, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 15, 2011
Referred to Committee Apr 15, 2011
Cosponsors
4 cosponsors (4R) (show)
Committees

House Agriculture

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934, and for other purposes.

Summary

No summaries available.

Text

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Last updated Apr 15, 2011.
5 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

4/15/2011--Introduced.
Business Risk Mitigation and Price Stabilization Act of 2011 - Amends the Commodity Exchange Act (CEA) and the Securities Exchange Act of 1934 to revise the element of the definition of a major swap participant which states that the participant's outstanding swaps create substantial counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets.
Specifies "net" counterparty exposure, thus stating that the major swap participant's outstanding swaps create substantial net counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets.
Declares capital and margin requirements governing swap dealers and major swap participants inapplicable to swaps in which one of the counterparties is not:
(1) a swap dealer or major swap participant;
(2) a specified kind of investment fund;
(3) a commodity pool; or
(4) the Federal National Mortgage Association (Fannie Mae) or any affiliate, the Federal Home Loan Mortgage Corporation (Freddie Mac) or any affiliate, or a Federal Home Loan Bank. Exempts from margin requirements under the CEA and the Securities Exchange Act of 1934 any swaps entered into before the date upon which specified final rules must be published under the Wall Street Transparency and Accountability Act of 2010, title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

House Republican Conference Summary

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House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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