[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3336 Reported in House (RH)]

                                                 Union Calendar No. 269
112th CONGRESS
  2d Session
                                H. R. 3336

                          [Report No. 112-390]

 To ensure the exclusion of small lenders from certain regulations of 
                          the Dodd-Frank Act.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 3, 2011

Mrs. Hartzler introduced the following bill; which was referred to the 
                        Committee on Agriculture

                            February 8, 2012

            Additional sponsors: Mr. Holden and Mr. McIntyre

                            February 8, 2012

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]


_______________________________________________________________________

                                 A BILL


 
 To ensure the exclusion of small lenders from certain regulations of 
                          the Dodd-Frank Act.


 


    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

<DELETED>SECTION 1. SHORT TITLE.</DELETED>

<DELETED>    This Act may be cited as the ``Small Business Credit 
Availability Act''.</DELETED>

<DELETED>SEC. 2. CLARIFICATION OF SWAP DEALER DEFINITION.</DELETED>

<DELETED>    Section 1a(49)(A) of the Commodity Exchange Act (7 U.S.C. 
1a(49)(A)) is amended by striking all that follows clause (iv) and 
inserting the following flush language:</DELETED>
                <DELETED>``provided however, in no event shall an 
                insured depository institution or an institution 
                chartered and operating under the Farm Credit Act of 
                1971 be considered to be a swap dealer to the extent 
                that it enters into a swap--</DELETED>
                        <DELETED>    ``(I) with a customer that is 
                        seeking to manage risk in connection with an 
                        extension of credit by the institution to, on 
                        behalf of, or for the benefit of, the customer; 
                        or</DELETED>
                        <DELETED>    ``(II) to offset the risks arising 
                        from a swap that meets the requirement of 
                        subclause (I).''.</DELETED>

<DELETED>SEC. 3. EXCLUSIONS FROM FINANCIAL ENTITY DEFINITION.</DELETED>

<DELETED>    Section 2(h)(7)(C)(ii) of the Commodity Exchange Act (7 
U.S.C. 2(h)(7)(C)(ii)) is amended to read as follows:</DELETED>
                        <DELETED>    ``(ii) Exclusion.--Such definition 
                        shall not include an entity that is a small 
                        bank, savings association, farm credit system 
                        institution, or credit union if--</DELETED>
                                <DELETED>    ``(I) the total assets of 
                                the entity are $30,000,000,000 or less; 
                                or</DELETED>
                                <DELETED>    ``(II) the aggregate 
                                uncollateralized outward exposure plus 
                                aggregate potential outward exposure of 
                                the entity with respect to its swaps 
                                does not exceed 
                                $1,000,000,000.''.</DELETED>

<DELETED>SEC. 4. EFFECTIVE DATE.</DELETED>

<DELETED>    The amendments made by this Act shall take effect as if 
they had been included in subtitle A of title VII of the Dodd-Frank 
Wall Street Reform and Consumer Protection Act.</DELETED>

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Credit Availability 
Act''.

SEC. 2. CLARIFICATION OF SWAP DEALER DEFINITION.

    Section 1a(49)(A) of the Commodity Exchange Act (7 U.S.C. 
1a(49)(A)) is amended by striking all that follows clause (iv) and 
inserting the following flush language:
                ``provided however, in no event shall an insured 
                depository institution or an institution chartered and 
                operating under the Farm Credit Act of 1971 be 
                considered to be a swap dealer to the extent that it 
                enters into a swap--
                            ``(I) with a customer that is seeking to 
                        manage risk in connection with an extension of 
                        credit by the institution to, on behalf of, or 
                        for the benefit of, the customer; or
                            ``(II) to offset the risks arising from a 
                        swap that meets the requirement of subclause 
                        (I).''.

SEC. 3. EXCLUSIONS FROM FINANCIAL ENTITY DEFINITION.

    Section 2(h)(7)(C)(ii) of the Commodity Exchange Act (7 U.S.C. 
2(h)(7)(C)(ii)) is amended to read as follows:
                            ``(ii) Exclusion.--Such definition shall 
                        not include an entity that is a small bank, 
                        savings association, farm credit system 
                        institution, non-profit cooperative lender 
                        controlled by electric cooperatives, or credit 
                        union if the aggregate uncollateralized outward 
                        exposure plus aggregate potential outward 
                        exposure of the entity with respect to its 
                        swaps does not exceed $1,000,000,000.''.

SEC. 4. EFFECTIVE DATE.

    The amendments made by this Act shall take effect as if they had 
been included in subtitle A of title VII of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act.

SEC. 5. IMPLEMENTATION.

    The amendments made by this Act shall be implemented--
            (1) without regard to--
                    (A) chapter 35 of title 44, United States Code; and
                    (B) the notice and comment provisions of section 
                553 of title 5, United States Code; and
            (2) through the promulgation of an interim final rule.
                                                 Union Calendar No. 269

112th CONGRESS

  2d Session

                               H. R. 3336

                          [Report No. 112-390]

_______________________________________________________________________

                                 A BILL

 To ensure the exclusion of small lenders from certain regulations of 
                          the Dodd-Frank Act.

_______________________________________________________________________

                            February 8, 2012

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed