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H.R.992: Swaps Regulatory Improvement 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 Randy Hultgren, R-Ill.
Total Cosponsors 8 (4 Democrats, 4 Republicans)
Introduced March 6, 2013
Latest Major Action Oct. 31, 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

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Swaps Regulatory Improvement Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act with respect to the prohibition against certain federal assistance to swaps entities, namely the use of any advances from specified Federal Reserve credit facilities or discount windows, or Federal Deposit Insurance Corporation (FDIC) insurance or guarantees, for the purpose of: (1) making any loan to, or purchasing any stock, equity interest, or debt obligation of, any swaps entity; (2) purchasing the assets of any swaps entity; (3) guaranteeing any loan or debt issuance of any swaps entity; or (4) entering into any assistance arrangement (including tax breaks), loss sharing, or profit sharing with any swaps entity.

Extends to any major swap participant or major security-based swap participant that is an uninsured U.S. branch or agency of a foreign ba...

(Source: Congressional Research Service)

Bill Actions

Date Description
Oct. 31, 2013 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct. 30, 2013 Motion to reconsider laid on the table Agreed to without objection.
Oct. 30, 2013

On passage Passed by recorded vote: 292 - 122 (Roll no. 569). (text: CR H6916)

Oct. 30, 2013

On motion to recommit with instructions Failed by the Yeas and Nays: 190 - 223 (Roll no. 568).

Oct. 30, 2013 The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H6926)
Oct. 30, 2013 Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Brownley motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to prohibit any restriction on the ability of financial regulators to ensure that financial institutions comply with laws prohibiting the manipulation of commodity markets, especially with regard to speculation in oil and biofuel contracts.
Oct. 30, 2013 Ms. Brownley (CA) moved to recommit with instructions to Financial Services. (consideration: CR H6925-6927; text: CR H6925)
Oct. 30, 2013 The previous question was ordered pursuant to the rule. (consideration: CR H6925)
Oct. 30, 2013 DEBATE - The House proceeded with one hour of debate on H.R. 992.
Oct. 30, 2013 Considered under the provisions of rule H. Res. 391. (consideration: CR H6916-6928)
Sept. 25, 2013 Placed on the Union Calendar, Calendar No. 169.
Sept. 25, 2013 Reported by the Committee on Agriculture. H. Rept. 113-229, Part II.
Sept. 25, 2013 Reported by the Committee on Financial Services. H. Rept. 113-229, Part I.
May 7, 2013 Ordered to be Reported by the Yeas and Nays: 53 - 6.
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 by the Yeas and Nays: 31 - 14.
March 20, 2013 Committee Consideration and Mark-up Session Held.
March 14, 2013 Committee Hearings Held.
March 6, 2013 Referred to House Agriculture
March 6, 2013 Referred to House Financial Services