SEC. 301. Short Title.
This title may be cited as the “Business Risk Mitigation and Price Stabilization Act of 2015”.
Title III — Business Risk Mitigation and Price Stabilization
TITLE III Business Risk Mitigation and Price Stabilization
SEC. 302. Margin Requirements.
Commodity Exchange Act Amendment.— Section 4s(e) of the Commodity Exchange Act (7 U.S.C. 6s(e)), as added by section 731 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended by adding at the end the following new paragraph:
“(4) Applicability with respect to counterparties.—The requirements of paragraphs (2)(A)(ii) and (2)(B)(ii), including the initial and variation margin requirements imposed by rules adopted pursuant to paragraphs (2)(A)(ii) and (2)(B)(ii), shall not apply to a swap in which a counterparty qualifies for an exception under section 2(h)(7)(A), or an exemption issued under section 4(c)(1) from the requirements of section 2(h)(1)(A) for cooperative entities as defined in such exemption, or satisfies the criteria in section 2(h)(7)(D).”
Securities Exchange Act Amendment.— Section 15F(e) of the Securities Exchange Act of 1934 (15 U.S.C. 78o–10(e)), as added by section 764(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended by adding at the end the following new paragraph:
“(4) Applicability with respect to counterparties.—The requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not apply to a security-based swap in which a counterparty qualifies for an exception under section 3C(g)(1) or satisfies the criteria in section 3C(g)(4).”
SEC. 303. Implementation.
The amendments made by this title to the Commodity Exchange Act shall be implemented—
without regard to—
chapter 35 of title 44, United States Code; and
the notice and comment provisions of section 553 of title 5, United States Code;
through the promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued; and
such that paragraph (1) shall apply solely to changes to rules and regulations, or proposed rules and regulations, that are limited to and directly a consequence of such amendments.