Keep Repos to Maturity on Balance Sheet Act of 2017
Latest action · Jan 5, 2017 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 5, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Keep Repos to Maturity on Balance Sheet Act of 2017
This bill requires the Securities and Exchange Commission, in establishing accounting principles or standards for purposes of the securities laws, to require that a repurchase-to-maturity transaction be treated as a secured borrowing in which the transferred asset serves as collateral.
A "repurchase-to-maturity transaction" is one in which: (1) a financial asset is transferred in exchange for cash, other financial assets, or letters of credit; and (2) the transferor and transferee agree that the transferee may return or redeem the transferred asset upon the asset's maturity.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jan 5, 2017 |
Actions 2
Everything that happened, newest first.
- Jan 5, 2017Introduced in House
- Jan 5, 2017Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 3, January 5, 2017, page H183.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1165 | Keep Repos to Maturity on Balance Sheet Act of 2015 | Reintroduction of | Feb 27, 2015 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To direct the Securities and Exchange Commission to require that repurchase-to-maturity transactions be treated as secured borrowings.
- Short Titles as Introduced
- Keep Repos to Maturity on Balance Sheet Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jan 5, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
