[Congressional Record Volume 164, Number 40 (Wednesday, March 7, 2018)]
[Senate]
[Page S1524]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2153. Mr. HATCH submitted an amendment intended to be proposed by 
him to the bill S. 2155, to promote economic growth, provide tailored 
regulatory relief, and enhance consumer protections, and for other 
purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. APPLICABILITY OF CAPITAL AND MARGIN REQUIREMENTS TO 
                   COUNTERPARTIES.

       Section 4s(e)(4) of the Commodity Exchange Act (7 U.S.C. 
     6s(e)(4)) is amended--
       (1) by striking ``counterparty qualifies'' and inserting 
     the following: ``counterparty--
       ``(A) qualifies'';
       (2) in subparagraph (A) (as so designated), by striking the 
     period at the end and inserting ``; or''; and
       (3) by adding at the end the following:
       ``(B)(i) is a money transmitter (as defined in section 
     1010.100(ff)(5) of title 31, Code of Federal Regulations) (or 
     any successor regulation)) that--
       ``(I) is regulated by a State, the District of Columbia, or 
     a territory or possession of the United States for financial 
     adequacy;
       ``(II) is registered in accordance with section 1022.380 of 
     title 31, Code of Federal Regulations (or any successor 
     regulation); and
       ``(III) enters only into swaps exclusively for the purpose 
     of offsetting risks generated from foreign currency contracts 
     with an entity that is not a financial end user (as defined 
     in section 23.151 of title 17, Code of Federal Regulations 
     (or any successor regulation)); and
       ``(ii) has total assets of $1,000,000,000 or less on the 
     last day of its most recent fiscal year.''.
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