HR 634 · 113th Congress · Finance and Financial Sector

Business Risk Mitigation and Price Stabilization Act of 2013

Introduced 2013-02-13· Sponsored by Rep. Grimm, Michael G. [R-NY-11]· House

Bill Progress

1
Introduced
Committee
House Vote
4
Senate
5
Enacted
Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2013-06-13)

Recorded Votes

PassedHouse · 2013-06-12
Roll #215
Yea 411Nay 12
Democrats
181 Yea·12 Nay
Republicans
230 Yea·0 Nay
PassedHouse · 2013-06-12
Roll #215
Yea 411Nay 12
Democrats
181 Yea·12 Nay
Republicans
230 Yea·0 Nay

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Plain Language Summary

[AI summary unavailable — showing source text] Business Risk Mitigation and Price Stabilization Act of 2013 - Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements because it is not a financial entity, uses swaps to hedge or mitigate commercial risk, and notifies the Commodity Futures Trading Commission (CFTC) how it meets financial obligations associated with entering into non-cleared swaps; or (2) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. Amends the Securities Exchange Act of 1934, regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2)…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 634, Business Risk Mitigation and Price Stabilization Act of 2013

Apr 11, 2013

As ordered reported by the House Committee on Agriculture on March 20, 2013

Full CBO report ↗

H.R. 634, Business Risk Mitigation and Price Stabilization Act of 2013

May 30, 2013

As ordered reported by the House Committee on Financial Services on May 7, 2013

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office

Cosponsors (8)

5 Democrats3 Republicans