H.R. 3010 · 113th Congress
Keep Repos to Maturity on Balance Sheet Act of 2013
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CapuanoSponsorNo cosponsors.
Keep Repos to Maturity on Balance Sheet Act of 2013 - Directs the Securities and Exchange Commission (SEC), in establishing accounting principles or standards for purposes of the securities laws, to require that a repurchase-to-maturity transaction be treated as a secured borrowing in which the transferred asset serves as collateral.
What it does: CRS summary · Introduced in House · Aug 2, 2013
Keep Repos to Maturity on Balance Sheet Act of 2013 - Directs the Securities and Exchange Commission (SEC), in establishing accounting principles or standards for purposes of the securities laws, to require that a repurchase-to-maturity transaction be treated as a secured borrowing in which the transferred asset serves as collateral.
Defines "repurchase-to-maturity transaction" as one in which: (1) a financial asset is transferred in exchange for cash, other financial assets, or letters of credit; and (2) concurrently the transferor and the transferee agree that, at the asset's maturity, the transferee may either return the transferred asset (or a substantially similar asset) to the transferor, or redeem the transferred asset from the issuer of the transferred asset.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Keep Repos to Maturity on Balance Sheet Act of 2013
Latest action (Aug 2, 2013): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Aug 2, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.