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<BillSummaries>
<item congress="113" measure-type="hr" measure-number="3010" measure-id="id113hr3010" originChamber="HOUSE" orig-publish-date="2013-08-02" update-date="2013-11-21">
<title>Keep Repos to Maturity on Balance Sheet Act of 2013</title>
<summary summary-id="id113hr3010v00" currentChamber="HOUSE" update-date="2013-11-21">
<action-date>2013-08-02</action-date>
<action-desc>Introduced in House</action-desc>
<summary-text><![CDATA[<p>Keep Repos to Maturity on Balance Sheet Act of 2013 - Directs the Securities and Exchange Commission (SEC), in establishing accounting principles or standards for purposes of the securities laws, to require that a repurchase-to-maturity transaction be treated as a secured borrowing in which the transferred asset serves as collateral.</p> <p> Defines &quot;repurchase-to-maturity transaction&quot; as one in which: (1) a financial asset is transferred in exchange for cash, other financial assets, or letters of credit; and (2) concurrently the transferor and the transferee agree that, at the asset's maturity, the transferee may either return the transferred asset (or a substantially similar asset) to the transferor, or redeem the transferred asset from the issuer of the transferred asset.</p>]]></summary-text>
</summary>
</item>
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<dc:language>EN</dc:language>
<dc:rights>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.</dc:rights>
<dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
<dc:description>This file contains bill summaries 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.</dc:description>
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