3.0.0 1838 2022-03-01T06:43:08Z 2022-03-01T06:43:08Z House H HR 2011-05-11 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. HAYWORTH:H.R. 1838.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3 (relating to the power toregulate interstate commerce).[Page H3219]]]> hsag00 Agriculture Committee House Standing hsag16 General Farm Commodities, Risk Management, and Credit Subcommittee Referred to 2011-06-08T16:12:52Z Discharged from 2012-11-16T21:41:59Z Referred to 2011-05-11T14:03:35Z hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Reported by 2011-11-15T14:43:13Z Markup by 2011-11-15T14:42:47Z Hearings by 2011-10-14T20:12:02Z Referred to 2011-07-19T18:57:30Z Reported by 2012-05-11T15:17:08Z Markup by 2012-02-16T14:24:51Z Referred to 2011-05-11T14:03:30Z H. Rept. 112-476 2012-11-16 Placed on the Union Calendar, Calendar No. 508. Calendars H12410 2 House floor actions U00508 2012-11-16 Committee on Agriculture discharged. Discharge H12300 2 House floor actions hsag00 Agriculture Committee 2012-11-16 Committee on Agriculture discharged. Committee 5500 9 Library of Congress hsag00 Agriculture Committee 2012-09-14 House Committee on Agriculture Granted an extension for further consideration ending not later than Nov. 16, 2012. IntroReferral H11210 2 House floor actions hsag00 Agriculture Committee 2012-07-16 House Committee on Agriculture Granted an extension for further consideration ending not later than Sept. 14, 2012. IntroReferral H11210 2 House floor actions hsag00 Agriculture Committee 2012-05-30 House Committee on Agriculture Granted an extension for further consideration ending not later than July 16, 2012. IntroReferral H11210 2 House floor actions hsag00 Agriculture Committee 2012-05-11 House Committee on Agriculture Granted an extension for further consideration ending not later than May 30, 2012. IntroReferral H11210 2 House floor actions hsag00 Agriculture Committee 2012-05-11 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-476, Part I. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2012-05-11 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-476, Part I. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2012-02-16 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2012-02-16 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2011-11-15 hsba16 Capital Markets Subcommittee 1 House committee actions Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 21 - 12 . Committee 2011-11-15 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Consideration and Mark-up Session Held. Committee 2011-10-14 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Hearings Held. Committee 2011-07-19 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Committee 2011-06-08 hsag16 General Farm Commodities, Risk Management, and Credit Subcommittee 1 House committee actions Referred to the Subcommittee on General Farm Commodities and Risk Management. Committee 2011-05-11 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. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2011-05-11 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. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-05-11 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-05-11 Introduced in House IntroReferral 1000 9 Library of Congress H001054 Rep. Hayworth, Nan A. S. [R-NY-19] Nan Hayworth R NY A. S. 19 N Finance and Financial Sector Banking and financial institutions regulation Financial crises and stabilization Financial services and investments Securities Finance and Financial Sector 00 2011-05-11 Introduced in House 2011-07-27T16:36:45Z Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the prohibition against federal government assistance to (bailouts of) registered swap dealers, security-based swap dealers, major swap participants, or major security-based swap participants with respect to any swap, security-based swap, or other activity.

]]> 18 2012-05-11 Reported to House amended, Part I 2012-10-04T22:59:47Z Swaps Bailout Prevention Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to revise the prohibition against federal government assistance to (bailouts of) registered swap dealers, security-based swap dealers, major swap participants, or major security-based swap participants with respect to any swap, security-based swap, or other activity.

Extends the meaning of "covered depository institution" to include an uninsured U.S. branch or agency of a foreign bank that has a prudential regulator as well as an insured depository institution (as covered by current law).

Repeals the application of this prohibition to any insured depository institution unless it limits its swap or security-based swap activities to: (1) hedging and other similar risk mitigating activities directly related to the institution's activities; (2) acting as a swaps entity for swaps or security-based swaps involving rates or reference assets permissible for investment by a national bank; or (3) acting as a swaps entity for credit default swaps, including swaps or security-based swaps involving the credit risk of asset-backed securities, but only if they are cleared by a derivatives clearing organization under the Commodity Exchange Act, or a clearing agency registered, or exempt from registration, as a derivatives clearing organization, or as a clearing agency under the Securities Exchange Act.

Replaces these requirements for exemption from the prohibition with a declaration that the prohibition against federal assistance to swaps entities shall not apply to a covered depository institution that limits swap and security-based swap activities to: (1) hedging and similar risk mitigating activities directly related to the institution's activities, or (2) acts as a swaps entity for swaps or security-based swaps other than a structured finance swap.

Defines "structured finance swap" as a swap or security-based swap based on an asset-backed security (or group or index primarily composed of asset-backed securities).

Exempts also from the prohibition against federal assistance to swaps entities any covered depository institution that acts as a swaps entity for structured finance swaps or security-based swaps if: (1) they are undertaken for hedging or risk management purposes; or (2) each asset-backed security underlying such structured finance swaps is of a credit quality and of a type or category authorized by the prudential regulators.

Exempts from the prohibition entirely any swap or security-based swap activity conducted outside the United States with a non-U.S. counterparty by a non-U.S. swaps entity licensed, in the case of a foreign branch of a U.S. depository institution, or organized under the laws of a jurisdiction outside the United States.

]]> Swaps Bailout Prevention Act Short Titles as Reported to House Swaps Bailout Prevention Act H House Display Title Swaps Bailout Prevention Act Official Title as Introduced To repeal a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibiting any Federal bailout of swap dealers or participants. Reported in House 2012-11-16T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1838rh/xml/BILLS-112hr1838rh.xml Introduced in House 2011-05-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1838ih/xml/BILLS-112hr1838ih.xml 2012-11-16 Placed on the Union Calendar, Calendar No. 508. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.