To clarify the clearing exemption for small financial institutions under the Commodity Exchange Act.
Small Financial Institution Certainty Act
This bill requires the Commodity Futures Trading Commission (CFTC) to exempt certain financial institutions from clearing requirements for commodity swaps. Specifically, the CFTC must exempt insured depository institutions, farm credit system institutions, credit unions, bank holding companies, and savings and loan holding companies that have less than $10 billion in assets. Currently, the CFTC has discretion regarding whether to exempt depository institutions, farm credit system institutions, and credit unions that have less than $10 billion in assets.
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
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