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Friday, October 25, 2013

House to Consider Swaps Bill

The House is scheduled next week to consider an ABA-supported bill (H.R. 992) that would reform the Dodd-Frank Act’s swaps “push-out” requirement by keeping banks from having to form separate affiliates to conduct some swap transactions. The Rules Committee will meet regarding the bill Monday evening, with the expectation of floor consideration on Tuesday or Wednesday.

ABA wrote House Members in support of legislation (H.R. 992) earlier this month, explaining that the push-out requirement “applies only to swaps dealers and some major swaps participants, but it has been the focus of broad debate because it will affect the ability of both banks and their customers to centralize risk management.”

Read the letter.

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