Ag Committee Approves Bills That Would Amend Dodd-Frank

The House Agriculture Committee approved seven legislative proposals amending Dodd-Frank Title VII.  All but one of the bills advanced on a voice vote; the Swaps Regulatory Improvement Act (H.R. 992) was approved by a vote of 31-14.

  • H.R. 634, the Business Risk Mitigation and Price Stabilization Act, allows end users to use derivatives for hedging without being subject to margin requirements.
  • H.R. 677, the Inter-Affiliate Swap Clarification Act, provides that certain transactions between affiliates within a single corporate group are not regulated as swaps, subject to a variety of conditions, including that neither of the parties to the swap is a regulated swaps entity.
  • H.R. 742, the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2013, would allow data sharing between U.S. and international regulators and swap data repositories without requiring non-U.S. regulators to provide an indemnity.
  • H.R. 992, the Swaps Regulatory Improvement Act, amends Section 716 of the Dodd-Frank Act to limit the swap desk push-out requirement so that it only applies to certain swaps based on certain asset-backed securities and allows non-U.S. banks to enter into swaps to the same extent as U.S. banks.
  • H.R. 1003 would require the CFTC to assess the costs and benefits of its actions.
  • H.R. 1038, the Public Power Risk Management Act, would allow producers, utility companies and other non-financial entities to continue entering into energy swaps with government-owned utilities without danger of being required to register with the CFTC as swap dealers.
  • H.R. 1256, the Swap Jurisdiction Certainty Act, would direct the CFTC and the Securities and Exchange Commission to adopt a joint rule on how they will regulate cross-border swaps transactions as part of the new requirements created in the Dodd-Frank Act.

See: Ag Committee Press Release and Summary of Bills.

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