United States 112th Congress Status: Died 1 R cosponsors

HR 1610 — Business Risk Mitigation and Price Stabilization Act of 2011

Last action — Referred to the Subcommittee on General Farm Commodities and Risk Management.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Business Risk Mitigation and Price Stabilization Act of 2011 - Amends the Commodity Exchange Act (CEA) and the Securities Exchange Act of 1934 to revise the element of the definition of a major swap participant which states that the participant's outstanding swaps create substantial counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets. Specifies "net" counterparty exposure, thus stating that the major swap participant's outstanding swaps create substantial net counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets. Declares capital and margin requirements governing swap dealers and major swap participants inapplicable to swaps in which one of the counterparties is not: (1) a swap dealer or major swap participant; (2) a specified kind of investment fund; (3) a commodity pool; or (4) the Federal National Mortgage Association (Fannie Mae) or any affiliate, the Federal Home Loan Mortgage Corporation (Freddie Mac) or any affiliate, or a Federal Home Loan Bank. Exempts from margin requirements under the CEA and the Securities Exchange Act of 1934 any swaps entered into before the date upon which specified final rules must be published under the Wall Street Transparency and Accountability Act of 2010, title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 1610 on the official United States source →

Action History

  1. Referred to the Subcommittee on General Farm Commodities and Risk Management.

  2. Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 19 - 13 .

  3. Subcommittee Consideration and Mark-up Session Held.

  4. Subcommittee Consideration and Mark-up Session Held.

  5. Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

  6. Referred to House Agriculture

  7. Referred to House Financial Services

  8. Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  9. Hearings Held Prior to Introduction.

  10. Hearings Held Prior to Introduction.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation finance
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Frequently asked questions

What does HR 1610 do?
Business Risk Mitigation and Price Stabilization Act of 2011 - Amends the Commodity Exchange Act (CEA) and the Securities Exchange Act of 1934 to revise the element of the definition of a major swap participant which states that the participant's outstanding swaps create substantial counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets. Specifies "net" counterparty exposure, thus stating that the major swap participant's outstanding swaps create substantial net counterparty exposure that could have serious adverse effects on the financial stability of the U.S. banking system or financial markets. Declares capital and margin requirements governing swap dealers and major swap participants inapplicable to swaps in which one of the counterparties is not: (1) a swap dealer or major swap participant; (2) a specified kind of investment fund; (3) a commodity pool; or (4) the Federal National Mortgage Association (Fannie Mae) or any affiliate, the Federal Home Loan Mortgage Corporation (Freddie Mac) or any affiliate, or a Federal Home Loan Bank. Exempts from margin requirements under the CEA and the Securities Exchange Act of 1934 any swaps entered into before the date upon which specified final rules must be published under the Wall Street Transparency and Accountability Act of 2010, title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Who sponsors HR 1610?
HR 1610 is sponsored by Michael Grimm (Republican).
What is the current status of HR 1610?
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 1610?
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