,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #acda  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #ba1 #bjac ,mr4  
,f9*] introduc$ ! foll[+ bill2 :i* 0    
ref]r$ to ! ,committee on ,f9ancial     
,s]vices1 & 9 addition to ! ,committee  
on ,agriculture1 = a p]iod to be        
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to require !       
,f9ancial ,/ability ,ov]sight ,c\ncil to
 conduct a /udy ( ! likely effects ( !  
diff]5ces betwe5 ! ,unit$ ,/ates & o!r  
jurisdictions 9 implem5t+ ! d]ivatives  
cr$it valuation adju/m5t capital        
requirem5t4  #a4 ,%ort title ,?is ,act  
may be cit$ z ! ,f9ancial ,competitive  
,act ( #bjac4  #b4 ,/udy ( implem5tation
 ( basel iii capital requirem5ts relat$ 
to d]ivatives exposures  7a7 ,/udy ,!   
,f9ancial ,/ability ,ov]sight ,c\ncil   
%all conduct a /udy ( ! likely effects t
 diff]5ces betwe5 ! ,unit$ ,/ates & o!r 
jurisdictions 9 implem5t+ ! d]ivatives  

cr$it valuation adju/m5t 79 ?is section 
ref]r$ to z ,,cva7 capital requirem5t   
w\ld h on--  7#a7 ,unit$ ,/ates f9ancial
 in/itutions t conduct d]ivatives       
transactions & p>ticipate 9 d]ivatives  
m>kets2  7#b7 end us]s ( d]ivatives2 &  
7#c7 int]national d]ivatives m>kets4    
7b7 ,cont5t ,! /udy requir$ by          
subsection 7a7 %all include--  7#a7 an  
assessm5t (--  7,a7 ! ext5t to :i* !re  
are diff]5ces 9 ! approa*es t ! ,unit$  
,/ates & o!r jurisdictions are tak+     
reg>d+ implem5tation ( ! ,,cva capital  
requirem5t1 & ! nature ( ! diff]5ces2   
7,b7 ! impact t ! diff]5ces w\ld h on-- 
7i7 ,unit$ ,/ates f9ancial in/itutions t
 conduct d]ivatives transactions &      
p>ticipate 9 d]ivatives m>kets1 includ+ 
_! ability to s]ve end us]s (           
d]ivatives2  7ii7 pric+ & o!r co/s (1 & 
s]vices available to1 end us]s (        
d]ivatives 9 ! ,unit$ ,/ates & o!r      
jurisdictions2 &  7iii7 ! competitiv5ess
 ( ,unit$ ,/ates f9ancial in/itutions & 
,unit$ ,/ates d]ivatives m>kets1 includ+

 ! ext5t to :i* diff]5ces 9 ! ,,cva     
capital requirem5t c\ld %ift d]ivatives 
bus9ess among jurisdictions2 &  7,c7 !  
int]action betwe5 diff]+ ,,cva capital  
requirem5ts & m>g9 rules2 &  7#b7       
recomm5dations reg>d+ /eps t ! ,congress
 & ! ,f$]al f9ancial regulatory ag5cies 
t comprise ! ,f9ancial ,/ability        
,ov]sight ,c\ncil %\ld take to--  7,a7  
m9imize any expect$ negative effects on 
,unit$ ,/ates f9ancial in/itutions1     
d]ivatives m>kets1 & end us]s2 &  7,b7  
enc\rage great] int]national consi/5cy 9
 implem5tation ( int]nationally agre$   
capital1 liquidity1 & o!r prud5tial     
/&>ds4  7c7 ,report ,no lat] ?an #ij    
days aft] ! date ( ! enactm5t ( ?is     
,act1 ! ,f9ancial ,/ability ,ov]sight   
,c\ncil %all submit a writt5 report     
conta9+ ! results ( ! /udy to ! ,*airman
 & rank+ m9ority memb] ( ! ,committees  
on ,agriculture & ,f9ancial ,s]vices ( !
 ,h\se ( ,repres5tatives1 & ! ,*airman &
 rank+ m9ority memb] ( ! ,committees on 
,agriculture1 ,nutrition1 & ,=e/ry1 &   

,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate4