Business Risk Mitigation and Price Stabilization Act of 2013
April 12, 2024
The topic of this article may not meet Wikipedia's general notability guideline. Please help to demonstrate the notability of the topic by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond a mere trivial mention. If notability cannot be shown, the article is likely to be merged, redirected, or deleted. Find sources: "Business Risk Mitigation and Price Stabilization Act of 2013" – news · newspapers · books · scholar · JSTOR(July 2013) (Learn how and when to remove this template message)
The Business Risk Mitigation and Price Stabilization Act of 2013 (H.R. 634) is a bill that passed the United States House of Representatives during the 113th United States Congress.[1] The bill would exempt nonfinancial entities that enter into a swap or a security-based swap transaction from meeting certain margin requirements when the transaction is designed to offset losses or gains in other investments.[2]
Business Risk Mitigation and Price Stabilization Act of 2013
Long 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.
H.R. 634 would exempt nonfinancial entities that enter into a swap or a security-based swap transaction from meeting certain margin requirements when the transaction is designed to offset losses or gains in other investments. (A swap is a contract that calls for an exchange of cash between two participants, based on an underlying rate or index or on the performance of an asset.)
Based on information from several of the affected agencies, the Congressional Budget Office has reported that it expects that incorporating the provisions of H.R. 634 at this point in the regulatory process would not require a significant increase in the workload of any agency. CBO estimates that any change in discretionary spending by the SEC and CFTC to implement the legislation would not be significant. Further, under current law, the SEC is authorized to collect fees sufficient to offset its appropriation each year. Therefore, the CBO estimates that the net cost to the SEC would be negligible, assuming appropriation actions consistent with that authority.
business, risk, mitigation, price, stabilization, 2013, topic, this, article, meet, wikipedia, general, notability, guideline, please, help, demonstrate, notability, topic, citing, reliable, secondary, sources, that, independent, topic, provide, significant, c. The topic of this article may not meet Wikipedia s general notability guideline Please help to demonstrate the notability of the topic by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond a mere trivial mention If notability cannot be shown the article is likely to be merged redirected or deleted Find sources Business Risk Mitigation and Price Stabilization Act of 2013 news newspapers books scholar JSTOR July 2013 Learn how and when to remove this template message The Business Risk Mitigation and Price Stabilization Act of 2013 H R 634 is a bill that passed the United States House of Representatives during the 113th United States Congress 1 The bill would exempt nonfinancial entities that enter into a swap or a security based swap transaction from meeting certain margin requirements when the transaction is designed to offset losses or gains in other investments 2 Business Risk Mitigation and Price Stabilization Act of 2013Long titleTo provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934 and for other purposes Announced inthe 113th United States CongressSponsored byRep Michael G Grimm R NY 11 Number of co sponsors3CodificationActs affectedCommodity Exchange Act Dodd Frank Wall Street Reform and Consumer Protection Act Securities Exchange Act of 1934U S C sections affected7 U S C 6s e 15 U S C 78o 10 e chapter 35 of title 44 United States Code 5 U S C 553 H R 634 Legislative history Introduced in the House as H R 634 by Rep Michael Grimm R NY on February 13 2013Committee consideration by United States House Committee on Agriculture United States House Agriculture Subcommittee on General Farm Commodities and Risk Management United States House Committee on Financial Services United States House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises United States Senate Committee on Banking Housing and Urban AffairsPassed the House on June 12 2013 Roll Call Vote 215 411 12 Contents 1 Provisions elements of the bill 2 Procedural history 2 1 House 2 2 Senate 3 See also 4 Notes References 5 External linksProvisions elements of the bill edit nbsp This article incorporates public domain material from websites or documents of the Congressional Budget Office 2 H R 634 would exempt nonfinancial entities that enter into a swap or a security based swap transaction from meeting certain margin requirements when the transaction is designed to offset losses or gains in other investments A swap is a contract that calls for an exchange of cash between two participants based on an underlying rate or index or on the performance of an asset Both the Commodity Futures Trading Commission CFTC and the Securities and Exchange Commission SEC are developing regulations relating to margin requirements minimum amounts of collateral that must be deposited often with a broker or exchange to cover some or all of the risk of a counterparty in swap transactions as the result of the enactment of the Dodd Frank Wall Street Reform and Consumer Protection Act Pub L Tooltip Public Law United States 111 203 text PDF In addition other financial regulators including the Federal Reserve System the Office of the Comptroller of the Currency OCC and the Federal Deposit Insurance Corporation FDIC among others are also developing margin requirements that would apply to the entities they regulate Final regulations have not been completed by any agency Based on information from several of the affected agencies the Congressional Budget Office has reported that it expects that incorporating the provisions of H R 634 at this point in the regulatory process would not require a significant increase in the workload of any agency CBO estimates that any change in discretionary spending by the SEC and CFTC to implement the legislation would not be significant Further under current law the SEC is authorized to collect fees sufficient to offset its appropriation each year Therefore the CBO estimates that the net cost to the SEC would be negligible assuming appropriation actions consistent with that authority The Business Risk Mitigation and Price Stabilization Act of 2013 would amend the Commodity Exchange Act CEA and the Securities Exchange Act of 1934 3 Procedural history editHouse edit The Business Risk Mitigation and Price Stabilization Act of 2013 was introduced by Rep Michael Grimm R NY on February 13 2013 1 It was referred to four committees in the House the United States House Committee on Agriculture the United States House Agriculture Subcommittee on General Farm Commodities and Risk Management the United States House Committee on Financial Services and the United States House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises On June 12 2013 the bill passed the House in Roll Call Vote 215 411 12 1 Senate edit The Business Risk Mitigation and Price Stabilization Act of 2013 was received in the Senate on June 13 2013 and referred to the United States Senate Committee on Banking Housing and Urban Affairs 1 See also editList of bills in the 113th United States Congress Financial regulation Commodity Futures Trading Commission CFTC U S Securities and Exchange Commission SEC Dodd Frank Wall Street Reform and Consumer Protection Act Pub L Tooltip Public Law United States 111 203 text PDF Federal Reserve System Office of the Comptroller of the Currency OCC Federal Deposit Insurance CorporationNotes References edit a b c d H R 634 All Actions United States Congress June 13 2013 Retrieved June 14 2013 a b CBO H R 634 Congressional Budget Office April 11 2013 Retrieved June 13 2013 H R 634 Summary United States Congress June 13 2013 Retrieved June 13 2013 External links edit nbsp Wikisource has original text related to this article Business Risk Mitigation and Price Stabilization Act of 2013 H R 634 113th Congress Library of Congress Thomas H R 634 beta congress gov H R 634 GovTrack us H R 634 OpenCongress org H R 634 WashingtonWatch com H R 634 Congressional Budget Office s Report on H R 634 House Republicans report on H R 634 nbsp This article incorporates public domain material from websites or documents of the United States Government Retrieved from https en wikipedia org w index php title Business Risk Mitigation and Price Stabilization Act of 2013 amp oldid 1104073570, wikipedia, wiki, book, books, library,