Legislators
Bills
Statements
Represent

H.R.677: Inter-Affiliate Swap Clarification Act

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Steve Stivers, R-Ohio
Total Cosponsors 11 (5 Democrats, 6 Republicans)
Introduced Feb. 13, 2013
Latest Major Action May 7, 2013
See it on GovTrack
See it on C-SPAN

Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

Inter-Affiliate Swap Clarification Act - Amends the Commodity Exchange Act and the Securities Exchange Act of 1934, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to exempt from certain regulatory requirements any swaps and security-based swaps entered into by parties neither of which is a swap dealer or a major swap participant: (1) that is also an insured depository institution, (2) that reports information or prepares financial statements on a consolidated basis, or (3) for which a company affiliated with both parties reports information or prepares financial statements on a consolidated basis.

Requires that such exempted agreements, contracts, or transactions be reported to an appropriate data repository, or, if there is no such repository that would accept them, to: (1) the Commodity Futures Trading Commission (CFTC) in the case of exempted swaps, or (2) the Securities and Exchange Commission (SEC) in the case of exempted security-based s...

(Source: Congressional Research Service)

Bill Actions

Date Description
May 7, 2013 Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10.
May 7, 2013 Committee Consideration and Mark-up Session Held.
April 11, 2013 Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
March 20, 2013 Ordered to be Reported (Amended) by Voice Vote.
March 20, 2013 Committee Consideration and Mark-up Session Held.
March 14, 2013 Committee Hearings Held.
March 1, 2013 Referred to the Subcommittee on General Farm Commodities and Risk Management.
Feb. 13, 2013 Referred to House Agriculture
Feb. 13, 2013 Referred to House Financial Services