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I
116TH CONGRESS
1ST SESSION H. R. 4604
To clarify the clearing exemption for small financial institutions under the
Commodity Exchange Act.
IN THE HOUSE OF REPRESENTATIVES
OCTOBER 4, 2019
Mr. DUNN (for himself and Mr. COX of California) introduced the following
bill; which was referred to the Committee on Agriculture
A BILL
To clarify the clearing exemption for small financial
institutions under the Commodity Exchange Act.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Small Financial Insti-
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tution Certainty Act’’.
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SEC. 2. CERTAINTY FOR SMALL HOLDING COMPANIES.
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Section 2(h)(7)(C)(ii) of the Commodity Exchange
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Act (7 U.S.C. 2(h)(7)(C)(ii)) is amended to read as fol-
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lows:
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•HR 4604 IH
‘‘(ii) SMALL
FINANCIAL
ENTITY
EX-
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CLUSION.—Such definition shall not in-
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clude any—
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‘‘(I) insured depository institu-
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tion
with
total
assets
of
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$10,000,000,000 or less;
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‘‘(II) farm credit system institu-
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tion
with
total
assets
of
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$10,000,000,000 or less;
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‘‘(III) credit union with total as-
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sets of $10,000,000,000 or less;
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‘‘(IV) bank holding company (as
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defined in section 2 of the Bank Hold-
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ing Company Act of 1956) that has
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aggregated assets, including the assets
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of its subsidiaries, of $10,000,000,000
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or less; or
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‘‘(V) savings and loan holding
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company (as defined in section 10 of
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the Home Owners’ Loan Act of 1933)
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that has aggregated assets, including
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the assets of its subsidiaries, of
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$10,000,000,000 or less.’’.
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Æ
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