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Business Risk Mitigation And Price Stabilization Act Of 2013
The Business Risk Mitigation and Price Stabilization Act of 2013 () is a bill that passed the United States House of Representatives during the 113th United States Congress. The bill would exempt nonfinancial entities that enter into a swap or a security-based swap transaction from meeting certain margin requirements when the transaction is designed to offset losses or gains in other investments. Provisions/elements of the bill H.R. 634 would exempt nonfinancial entities that enter into a swap or a security-based swap transaction from meeting certain margin requirements when the transaction is designed to offset losses or gains in other investments. (A swap is a contract that calls for an exchange of cash between two participants, based on an underlying rate or index or on the performance of an asset.) Both the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are developing regulations relating to margin requirements (minimum amount ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Grimm (politician)
Michael Gerard Grimm (born February 7, 1970) is an American politician and convicted felon, who represented New York in the United States Congress from 2011 to 2015 until his conviction and resignation from Congress. Grimm represented New York's 13th congressional district during his first term, after which he represented New York's 11th congressional district. Both districts consisted of Staten Island and parts of Brooklyn. Grimm is a member of the Republican Party; during his time in office was the sole Republican to represent a significant portion of New York City. On April 28, 2014, Grimm was charged by federal authorities with 20 counts of fraud, federal tax evasion, and perjury. On December 23, 2014, he pleaded guilty to a single count of felony tax fraud, and "acknowledged committing perjury, hiring illegal immigrants, and committing wire fraud". After initially vowing to retain his seat, Grimm announced on December 30, 2014, that he would resign from Congress effective Ja ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
113th United States Congress
The 113th United States Congress was a meeting of the legislative branch of the United States federal government, from January 3, 2013, to January 3, 2015, during the fifth and sixth years of Presidency of Barack Obama, Barack Obama's presidency. It was composed of the United States Senate and the United States House of Representatives based on the results of the United States Senate elections, 2012, 2012 Senate elections and the United States House of Representatives elections, 2012, 2012 House elections. The seats in the House were United States congressional apportionment, apportioned based on the 2010 United States Census. It first met in Washington, D.C. on January 3, 2013, and it ended on January 3, 2015. Senators elected to regular terms in 2008 were in the last two years of those terms during this Congress. The Senate had a Democratic majority, while the House had a Republican majority; such a split would not be repeated until the 118th Congress. This was the last time ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Bills In The 113th United States Congress
The bills of the 113th United States Congress list includes proposed federal laws that were introduced in the 113th United States Congress. This Congress lasted from January 3, 2013, to January 3, 2015. The United States Congress is the bicameral legislature of the federal government of the United States consisting of two houses: the lower house known as the House of Representatives and the upper house known as the Senate. The House and Senate are equal partners in the legislative process—legislation cannot be enacted without the consent of both chambers. The bills listed below are arranged on the basis of which chamber they were first introduced in, and then chronologically by date. Once a bill is approved by one house, it is sent to the other which may pass, reject, or amend it. For the bill to become law, both houses must agree to identical versions of the bill. After passage by both houses, a bill is enrolled and sent to the president for signature or veto. Bills from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions. The FDIC is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of The Comptroller Of The Currency
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and thrift institutions and the federally licensed branches and agencies of foreign banks in the United States. The acting Comptroller of the Currency is Michael J. Hsu, who took office on May 10, 2021. Duties and functions Headquartered in Washington, D.C., it has four district offices located in New York City, Chicago, Dallas and Denver. It has an additional 92 operating locations throughout the United States. It is an independent bureau of the United States Department of the Treasury and is headed by the Comptroller of the Currency, appointed to a five-year term by the President with the consent of the Senate. The OCC pursues a number of main objectives: * to ensure the safety and soundness of the national banking system; * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve System
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System. U.S. Congress, Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and currently also include supervising and bank regulation, regulating ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dodd–Frank Wall Street Reform And Consumer Protection Act
The Dodd–Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd–Frank, is a United States federal law that was enacted on July 21, 2010. The law overhauled financial regulation in the aftermath of the Great Recession, and it made changes affecting all federal financial regulatory agencies and almost every part of the nation's financial services industry. Responding to widespread calls for changes to the financial regulatory system, in June 2009, President Barack Obama introduced a proposal for a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression". Legislation based on his proposal was introduced in the United States House of Representatives by Congressman Barney Frank (D-MA) and in the United States Senate by Senator Chris Dodd (D-CT). Most congressional support for Dodd–Frank came from members of the Democratic Party; three Senate Republic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options. The Commodity Exchange Act (CEA), ''et seq.'', prohibits fraudulent conduct in the trading of futures, swaps, and other derivatives. The stated mission of the CFTC is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation. After the financial crisis of 2007–08 and since 2010 with the Dodd–Frank Wall Street Reform and Consumer Protection Act, the CFTC has been transitioning to bring more transparency and sound regulation to the multitrillion dollar swaps market. History Futures contracts for agricultural commodities have been traded in the U.S. for more than 150 years and have been under federal regulation since the 1920s. The Grain Futures Act of 1922 set the basic authority and was changed by the Commo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swap (finance)
In finance, a swap is an agreement between two counterparties to exchange financial instruments, cashflows, or payments for a certain time. The instruments can be almost anything but most swaps involve cash based on a notional principal amount.Financial Industry Business Ontology Version 2 Annex D: Derivatives, EDM Council, Inc., Object Management Group, Inc., 2019 The general swap can also be seen as a series of forward contracts through which two parties exchange financial instruments, resulting in a common series of exchange dates and two streams of instruments, the ''legs'' of the swap. The legs can be almost anything but usually one leg involves cash flows based on a |
United States House Of Representatives
The United States House of Representatives, often referred to as the House of Representatives, the U.S. House, or simply the House, is the Lower house, lower chamber of the United States Congress, with the United States Senate, Senate being the Upper house, upper chamber. Together they comprise the national Bicameralism, bicameral legislature of the United States. The House's composition was established by Article One of the United States Constitution. The House is composed of representatives who, pursuant to the Uniform Congressional District Act, sit in single member List of United States congressional districts, congressional districts allocated to each U.S. state, state on a basis of population as measured by the United States Census, with each district having one representative, provided that each state is entitled to at least one. Since its inception in 1789, all representatives have been directly elected, although universal suffrage did not come to effect until after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity Exchange Act
Commodity Exchange Act (ch. 545, , enacted June 15, 1936) is a federal act enacted in 1936 by the U.S. Government, with some of its provisions amending the Grain Futures Act of 1922. The Act provides federal regulation of all commodities and futures trading activities and requires all futures and commodity options to be traded on organized exchanges. In 1974, the Commodity Futures Trading Commission (CFTC) was created as a result of the Commodity Exchange Act, and in 1982 the National Futures Association (NFA) was created by CFTC. See also *Grain Futures Act *National Futures Association *Commodity Futures Trading Commission *Futures exchange *Futures contract *Commodity Futures Modernization Act of 2000 The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that ensured financial products known as over-the-counter (OTC) derivatives remained unregulated. It was signed into law on December 21, 2000 by President ... External links 7 U.S. Code ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Senate Committee On Banking, Housing, And Urban Affairs
The United States Senate Committee on Banking, Housing, and Urban Affairs (formerly the Committee on Banking and Currency), also known as the Senate Banking Committee, has jurisdiction over matters related to banks and banking, price controls, deposit insurance, export promotion and controls, federal monetary policy, financial aid to commerce and industry, issuance of redemption of notes, currency and coinage, public and private housing, urban development, mass transit and government contracts. The current chair of the committee is Democrat Sherrod Brown of Ohio, and the Ranking Member is Republican Pat Toomey of Pennsylvania. History The committee is one of twenty standing committees in the United States Senate. The committee was formally established as the "Committee on Banking and Currency" in 1913, when Senator Robert L. Owen of Oklahoma sponsored the Federal Reserve Act. Senator Owen served as the committee's inaugural chairman. Jurisdiction In accordance of Rule XXV of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
