To amend the Commodity Exchange Act to exempt certain small companies that utilize foreign exchange from certain capital and margin requirements in order to enhance opportunities for small businesses to improve trade and export markets, and for other purposes.
Expanding Possibilities and Opportunities to Reinvigorate Trade Act of 2022 or the EXPORT Act of 2022
This bill exempts certain money transmitters from specified capital and margin requirements that otherwise apply to counterparty swaps. Specifically, these money transmitters must (1) only enter into swaps for the purpose of offsetting risks from foreign currency contracts with a non-end user, and (2) have annual assets of $1 billion or less.
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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