US Codex
Bill
Notes

To extend the exemption of small banks and savings associations from classification as a financial entity for purposes of the swaps clearing requirements of the Commodity Exchange Act to their holding companies.

H.R. 4353 · 114th Congress · Jan 8, 2016 · Lineage

A BILL

Section 1 Small bank holding company clearing exemption

Section 2(h)(7)(C) of the Commodity Exchange Act (7 U.S.C. 2(h)(7)(C)) is amended by adding at the end the following:

“(iv) Holding companies—A determination made by the Commission under clause (ii) shall, with respect to small banks and savings associations, also apply to their respective bank holding company (as defined in section 2 of the Bank Holding Company Act of 1956), or savings and loan holding company (as defined in section 10 of the Home Owners’ Loan Act of 1933), if the total consolidated assets of the holding company are no greater than the asset threshold set by the Commission in determining small bank and savings association eligibility under clause (ii).”