[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4604 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 4604

  To clarify the clearing exemption for small financial institutions 
                   under the Commodity Exchange Act.


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                    IN THE HOUSE OF REPRESENTATIVES

                            October 4, 2019

    Mr. Dunn (for himself and Mr. Cox of California) introduced the 
   following bill; which was referred to the Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
  To clarify the clearing exemption for small financial institutions 
                   under the Commodity Exchange Act.

    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 ``Small Financial Institution 
Certainty Act''.

SEC. 2. CERTAINTY FOR SMALL HOLDING COMPANIES.

    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) Small financial entity exclusion.--
                        Such definition shall not include any--
                                    ``(I) insured depository 
                                institution with total assets of 
                                $10,000,000,000 or less;
                                    ``(II) farm credit system 
                                institution with total assets of 
                                $10,000,000,000 or less;
                                    ``(III) credit union with total 
                                assets of $10,000,000,000 or less;
                                    ``(IV) bank holding company (as 
                                defined in section 2 of the Bank 
                                Holding Company Act of 1956) that has 
                                aggregated assets, including the assets 
                                of its subsidiaries, of $10,000,000,000 
                                or less; or
                                    ``(V) savings and loan holding 
                                company (as defined in section 10 of 
                                the Home Owners' Loan Act of 1933) that 
                                has aggregated assets, including the 
                                assets of its subsidiaries, of 
                                $10,000,000,000 or less.''.
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