,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #cjaj  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,augu/ #b1 #bjac ,mr4 
,capuano introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to direct !       
,securities & ,ex*ange ,commission to   
require t repur*ase-to-maturity         
transactions be treat$ z secur$ borr[+s4
  #a4 ,%ort title ,?is ,act may be cit$ 
z ! ,keep ,repos to ,maturity on        
,balance ,%eet ,act ( #bjac4  #b4       
,acc\nt+ treatm5t ( ,,rtm transactions  
7a7 ,9 g5]al ,9 e/abli%+ acc\nt+        
pr9ciples or /&>ds = purposes ( !       
securities laws1 ! ,securities &        
,ex*ange ,commission %all require t a   
repur*ase-to-maturity transaction be    
treat$ z a secur$ borr[+ 9 :i* !        
transf]r$ asset s]ves z collat]al4  7b7 
,def9itions ,9 ?is section3  7#a7       
,repur*ase-to-maturity transaction ,!   
t]m repur*ase-to-maturity transaction   
means a transaction 9 :i*--  7,a7 a     
f9ancial asset is transf]r$ 9 ex*ange = 

ca%1 o!r f9ancial assets1 or lett]s (   
cr$it2 &  7,b7 concurr5tly ) ! transf]1 
! transf]or & ! transf]ee agree t1 at ! 
maturity ( ! transf]r$ asset1 !         
transf]ee may ei!r1 at ! option ( !     
transf]ee--  7i7 return ! transf]r$     
asset 7or a sub/antially simil> asset7  
to ! transf]or1 !reby obligat+ !        
transf]or to reacquire ! transf]r$ asset
 7or to acquire ! sub/antially simil>   
asset1 z ! case may be7 = an am\nt equal
 to ! value ( ! ca%1 o!r f9ancial       
assets1 or lett]s ( cr$it describ$ 9    
subp>agraph 7,a71 plus a /ipulat$ int]e/
 factor2 or  7ii7 r$eem ! transf]r$     
asset f ! issu] ( ! transf]r$ asset4    
7#b7 ,securities laws ,! t]m securities 
laws has ! mean+ giv5 su* t]m 9 section 
#c7;a7 ( ! ,securities ,ex*ange ,act (  
#aicd 7#ae ,u4,s4,c4 #gh;c7a774  7#c7   
,transf]r$ asset ,! t]m transf]r$ asset 
means a f9ancial asset transf]r$ 9      
ex*ange = ca%1 o!r f9ancial assets1 or  
lett]s ( cr$it 9 a repur*ase-to-maturity
 transaction1 z describ$ 9 p>agraph     

7#a77;,a74  7c7 ,effective date ,!      
treatm5t requir$ "u subsection 7a7 %all 
apply beg9n+ on ! date t is #ij days    
aft] ! date ( ! enactm5t ( ?is ,act4