H.R. 5649 · 112th Congress
Manufacturing Certainty and Captive Finance Affiliate Clarification Act
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SchillingSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Manufacturing Certainty and Captive Finance Affiliate Clarification Act - Amends the Commodity Exchange Act to redefine an exclusion from "major swap participant" (and as a result from the swap clearing requirement) an entity (captive finance company) whose primary business is providing financing that facilitates the sale or lease of products by or on…
What it does: CRS summary · Introduced in House · May 8, 2012
Manufacturing Certainty and Captive Finance Affiliate Clarification Act - Amends the Commodity Exchange Act to redefine an exclusion from "major swap participant" (and as a result from the swap clearing requirement) an entity (captive finance company) whose primary business is providing financing that facilitates the sale or lease of products by or on behalf of the parent company or its subsidiary, and uses derivatives only for the purpose of hedging underlying commercial risks in a consolidated financing and leasing portfolio at least 90% of which, as of the end of its preceding fiscal year, is qualifying financing (including loans, notes, installment sales contracts, receivables, and operating and financing leases).
Declares amendments made by this Act effective as of the enactment of the Wall Street Transparency and Accountability Act of 2010 (title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Manufacturing Certainty and Captive Finance Affiliate Clarification Act
Latest action (May 30, 2012): Referred to the Subcommittee on General Farm Commodities and Risk Management.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 8, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.