IB 

Union Calendar No. 96 

113TH CONGRESS 

1ST SESSION H. R. 1341 

[Report No. 113–134, Part I] 

To require the Financial Stability Oversight Council to conduct a study 

of the likely effects of the differences between the United States and 

other jurisdictions in implementing the derivatives credit valuation adjustment capital requirement. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 21, 2013 

Mr. FINCHER introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in 

each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

JUNE 28, 2013 

Additional sponsors: Mr. DAVID SCOTT of Georgia, Mr. GRIMM, Mr. 

HUIZENGA of Michigan, and Mr. GRAVES of Georgia 

JUNE 28, 2013 

Reported from the Committee on Financial Services with amendments 

[Omit the part struck through and insert the part printed in italic] 

JUNE 28, 2013 

The Committee on Agriculture discharged; committed to the Committee of the 

Whole House on the State of the Union and ordered to be printed 

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•HR 1341 RH

A BILL 

To require the Financial Stability Oversight Council to conduct a study of the likely effects of the differences between the United States and other jurisdictions in implementing the derivatives credit valuation adjustment capital requirement. 

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1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Financial Competitive 

5 Act of 2013’’. 

6 SEC. 2. STUDY OF IMPLEMENTATION OF BASEL III CAPITAL 

7 REQUIREMENTS RELATED TO DERIVATIVES 

8 EXPOSURES. 

9 (a) STUDY.—The Financial Stability Oversight Coun10 cil shall conduct a study of the likely effects that dif11 ferences between the United States and other jurisdictions 

12 in implementing the derivatives credit valuation adjust13 ment (in this section referred to as ‘‘CVA’’) capital re14 quirement would have on— 

15 (1) United States financial institutions that 

16 conduct derivatives transactions and participate in 

17 derivatives markets; 

18 (2) end users of derivatives; and 

19 (3) international derivatives markets. 

20 (b) CONTENT.—The study required by subsection (a) 

21 shall include— 

22 (1) an assessment of— 

23 (A) the extent to which there are dif24 ferences in the approaches that the United 

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1 garding implementation of the CVA capital re2 quirement, and the nature of the differences; 

3 (B) the impact that the differences would 

4 have on— 

5 (i) United States financial institutions 

6 that conduct derivatives transactions and 

7 participate in derivatives markets, includ8 ing their ability to serve end users of de9 rivatives; 

10 (ii) pricing and other costs of, and 

11 services available to, end users of deriva12 tives in the United States and other juris13 dictions; and 

14 (iii) the competitiveness of United 

15 States financial institutions and United 

16 States derivatives markets, including the 

17 extent to which differences in the CVA 

18 capital requirement could shift derivatives 

19 business among jurisdictions; and 

20 (C) the interaction between differing CVA 

21 capital requirements and margin rules; and 

22 (2) recommendations regarding steps that the 

23 Congress and the Federal financial regulatory agen24 cies that comprise the Financial Stability Oversight 

25 Council should take to— 

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1 (A) minimize any expected negative effects 

2 on United States financial institutions, deriva3 tives markets, and end users; and; 

4 (B) encourage greater international con5 sistency in implementation of internationally 

6 agreed capital, liquidity, and other prudential 

7 standards.; and 

8 (C) ensure that the Financial Stability 

9 Oversight Council fulfills its statutory mandate 

10 to identify risks and respond to emerging threats 

11 to financial stability. 

12 (c) REPORT.—No later than 90 days after the date 

13 of the enactment of this Act, the Financial Stability Over14 sight Council shall submit a written report containing the 

15 results of the study to the Chairman and ranking minority 

16 member of the Committees on Agriculture and Financial 

17 Services of the House of Representatives, and the Chair18 man and ranking minority member of the Committees on 

19 Agriculture, Nutrition, and Forestry, and Banking, Hous20 ing, and Urban Affairs of the Senate. 

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Union Calendar No. 96 

113TH CONGRESS 

1ST SESSION H. R. 1341 

[Report No. 113–134, Part I] 

A BILL 

To require the Financial Stability Oversight Councredit valuation adjustment capital requirement. jurisdictions in implementing the derivatives differences between the United States and other cil to conduct a study of the likely effects of the 

JUNE 28, 2013 

Reported from the Committee on Financial Services with 

amendments 

JUNE 28, 2013 

The Committee on Agriculture discharged; committed to 

Union and ordered to be printed the Committee of the Whole House on the State of the 

mstockstill on DSK4VPTVN1PROD with BILLS