Business Risk Mitigation and Price Stabilization Act of 2011

Bill: 112-hr-1610
Sponsor: Rep. Grimm, Michael G. [R-NY-13]
Introduced: 2011-04-15 in the House
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation
Commodities markets
Corporate finance and management
Financial services and investments
Securities

Summary:
action_date: 2011-04-15
text: 
Business Risk Mitigation and Price Stabilization Act of 2011 - Amends the Commodity Exchange Act (CEA) and the Securities Exchange Act of 1934 to revise the element of the definition of a major swap participant which states that the participant's outstanding swaps create substantial counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets. Specifies &quot;net&quot; counterparty exposure, thus stating that the major swap participant's outstanding swaps create substantial net counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets. 
 
Declares capital and margin requirements governing swap dealers and major swap participants inapplicable to swaps in which one of the counterparties is not: (1) a swap dealer or major swap participant; (2) a specified kind of investment fund; (3) a commodity pool; or (4) the Federal National Mortgage Association (Fannie Mae) or any affiliate, the Federal Home Loan Mortgage Corporation (Freddie Mac) or any affiliate, or a Federal Home Loan Bank.
 
Exempts from margin requirements under the CEA and the Securities Exchange Act of 1934 any swaps entered into before the date upon which specified final rules must be published under the Wall Street Transparency and Accountability Act of 2010, title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.


Legislative actions:
action_date: 2011-05-11
text: Referred to the Subcommittee on General Farm Commodities and Risk Management.
action_date: 2011-05-04
text: Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 19 - 13 .
action_date: 2011-05-04
text: Subcommittee Consideration and Mark-up Session Held.
action_date: 2011-05-03
text: Subcommittee Consideration and Mark-up Session Held.
action_date: 2011-05-02
text: Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
action_date: 2011-04-15
text: 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.
action_date: 2011-04-15
text: 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.
action_date: 2011-04-15
text: Introduced in House
action_date: 2011-04-15
text: Introduced in House
action_date: 2011-03-16
text: Hearings Held Prior to Introduction.
action_date: 2011-02-15
text: Hearings Held Prior to Introduction.