H.R. 4717 · 116th Congress
Swap Trading Improvement Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CrawfordSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill revises provisions regarding swap execution facilities (i.e., trading platforms for speculators exchanging the benefit or liability of two financial instruments).
What it does: CRS summary · Introduced in House · Oct 17, 2019
Swap Trading Improvement Act
This bill revises provisions regarding swap execution facilities (i.e., trading platforms for speculators exchanging the benefit or liability of two financial instruments).
The bill eliminates the requirement that swap execution facilities must adopt position limitations or position accountability for speculators.
The bill allows a swap execution facility to delegate certain core functions to a third party. Currently, these functions may only be delegated to other registered entities.
Additionally, the bill revises the required adequate financial resources of a swap execution facility. Currently, a facility must be able to cover the operating costs of a one year period. The bill requires the facility to cover the greater amount of the operating costs of a 90 day period, or to enable an orderly wind down of its operations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Swap Trading Improvement Act
Latest action (Nov 8, 2019): Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Oct 17, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.