,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #cjaj  ,,in ,,the ,,house ,,of  
,,representatives  ,august #b1 #bjac    
,mr4 ,capuano introduced the following  
bill2 which was referred to the         
,committee on ,financial ,services  ,a  
,,bill  ,to direct the ,securities and  
,exchange ,commission to require that   
repurchase-to-maturity transactions be  
treated as secured borrowings4  #a4     
,short title ,this ,act may be cited as 
the ,keep ,repos to ,maturity on        
,balance ,sheet ,act of #bjac4  #b4     
,accounting treatment of ,,rtm          
transactions  7a7 ,in general ,in       
establishing accounting principles or   
standards for purposes of the securities
 laws1 the ,securities and ,exchange    
,commission shall require that a        
repurchase-to-maturity transaction be   
treated as a secured borrowing in which 
the transferred asset serves as         
collateral4  7b7 ,definitions ,in this  
section3  7#a7 ,repurchase-to-maturity  
transaction ,the term                   

repurchase-to-maturity transaction means
 a transaction in which--  7,a7 a       
financial asset is transferred in       
exchange for cash1 other financial      
assets1 or letters of credit2 and  7,b7 
concurrently with the transfer1 the     
transferor and the transferee agree     
that1 at the maturity of the transferred
 asset1 the transferee may either1 at   
the option of the transferee--  7i7     
return the transferred asset 7or a      
substantially similar asset7 to the     
transferor1 thereby obligating the      
transferor to reacquire the transferred 
asset 7or to acquire the substantially  
similar asset1 as the case may be7 for  
an amount equal to the value of the     
cash1 other financial assets1 or letters
 of credit described in subparagraph    
7,a71 plus a stipulated interest factor2
 or  7ii7 redeem the transferred asset  
from the issuer of the transferred      
asset4  7#b7 ,securities laws ,the term 
securities laws has the meaning given   
such term in section #c7;a7 of the      

,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;c7a774  7#c7 ,transferred
 asset ,the term transferred asset means
 a financial asset transferred in       
exchange for cash1 other financial      
assets1 or letters of credit in a       
repurchase-to-maturity transaction1 as  
described in paragraph 7#a77;,a74  7c7  
,effective date ,the treatment required 
under subsection 7a7 shall apply        
beginning on the date that is #ij days  
after the date of the enactment of this 
,act4