H.R. 634: Business Risk Mitigation and Price Stabilization Act of 2013

Introduced:
Feb 13, 2013 (113th Congress, 2013–2015)
Sponsor:
Rep. Michael Grimm [R-NY11]
Status:
Reported by Committee

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

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Status

The committees assigned to this bill sent it to the House or Senate as a whole for consideration on March 20, 2013.

Progress
Introduced Feb 13, 2013
Referred to Committee Feb 13, 2013
Reported by Committee Mar 20, 2013
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

22% chance of being enacted.

Only 28% of House bills that made it past committee in 2011–2013 were enacted. [show factors | methodology]

Cosponsors
8 cosponsors (5D, 3R) (show)
Committees

House Agriculture

House Financial Services

↪ Capital Markets and Government Sponsored Enterprises

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

Read Bill Text »

Last updated Feb 13, 2013.
3 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.

2/13/2013--Introduced.
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 for certain significant price discovery agreements, contracts, or transactions in a commodity exempt from regulation by the Commodity Futures Trading Commission (CFTC); or
(2) 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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

Other Citations

  • 44 U.S.C. Chapter 35