[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5323 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 691
115th CONGRESS
  2d Session
                                H. R. 5323

                          [Report No. 115-893]

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
    to establish an exemption from the credit valuation adjustment 
 calculation for uncleared derivatives transactions with end-users so 
   that United States companies are not disadvantaged, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 19, 2018

 Mr. Davidson introduced the following bill; which was referred to the 
                    Committee on Financial Services

                             August 7, 2018

  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]
 [For text of introduced bill, see copy of bill as introduced on March 
                               19, 2018]


_______________________________________________________________________

                                 A BILL


 
To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
    to establish an exemption from the credit valuation adjustment 
 calculation for uncleared derivatives transactions with end-users so 
   that United States companies are not disadvantaged, and for other 
                               purposes.


 


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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Derivatives Fairness Act''.

SEC. 2. CREDIT VALUATION ADJUSTMENT RELIEF.

    (a) In General.--The Dodd-Frank Wall Street Reform and Consumer 
Protection Act (12 U.S.C. 5361 et seq.), is amended by inserting after 
section 176 the following new section:

``SEC. 177. CREDIT VALUATION ADJUSTMENT.

    ``Prudential risk-based capital requirements and generally 
applicable risk-based capital requirements established by the 
appropriate Federal banking agencies shall not apply a fair value 
adjustment to reflect counterparty credit risk in valuation of over-
the-counter derivative contracts with respect to transactions with a 
counterparty that--
            ``(1) is described under section 2(h)(7)(A) of the 
        Commodity Exchange Act;
            ``(2) is a person or class of persons that meets any 
        qualifications required by a regulation issued by the Commodity 
        Futures Trading Commission with respect to such person or class 
        of persons qualifying for an exemption under section 4(c)(1) of 
        the Commodity Exchange Act from the requirements of section 
        2(h)(1)(A) of such Act; or
            ``(3) is an affiliate that meets the requirements for an 
        exception under section 2(h)(7)(D) of the Commodity Exchange 
        Act.''.
    (b) Conforming Amendment.--The table of contents in section 1(b) of 
the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 
U.S.C. 5301 note) is amended by inserting after the item relating to 
section 176 the following new item:

``Sec. 177. Credit valuation adjustment.''.
                                                 Union Calendar No. 691

115th CONGRESS

  2d Session

                               H. R. 5323

                          [Report No. 115-893]

_______________________________________________________________________

                                 A BILL

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
    to establish an exemption from the credit valuation adjustment 
 calculation for uncleared derivatives transactions with end-users so 
   that United States companies are not disadvantaged, and for other 
                               purposes.

_______________________________________________________________________

                             August 7, 2018

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