House Passes ABA-Supported Derivatives Bills

The House has passed two ABA-supported bipartisan derivatives bills. H.R. 634, which would clarify that end users are not subject to margin requirements under the Dodd-Frank Act, passed 411-12. H.R. 1256, which would require the SEC and CFTC to adopt rules jointly that apply Title VII of Dodd-Frank to cross-border transactions, passed 301-124.

Also passed by the House were a bill allowing the Federal Housing Administration to change the types of reverse mortgages it insures through lender letters rather than through rulemaking, and a bill repealing the indemnification requirements for regulatory authorities seeking to obtain access to swap data.