,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #edga  ,,in ,,the ,,house ,,of  
,,representatives  ,september #ae1 #bjad
 ,ms4 ,moore 7for herself1 ,mr4         
,stivers1 ,mr4 ,gibson1 and ,ms4 ,fudge7
 introduced the following bill2 which   
was referred to the ,committee on       
,financial ,services1 and in addition to
 the ,committee on ,agriculture1 for a  
period to be subsequently determined by 
the ,speaker1 in each case for          
consideration of such provisions as fall
 within the jurisdiction of the         
committee concerned  ,a ,,bill  ,to     
amend the ,commodity ,exchange ,act and 
the ,securities ,exchange ,act of #aicd 
to specify how clearing requirements    
apply to certain affiliate transactions1
 and for other purposes4  #a4 ,treatment
 of affiliate transactions  7a7 ,in     
general  7#a7 ,commodity ,exchange ,act 
amendment ,section #b7;h77#g77;,d77i7 of
 the ,commodity ,exchange ,act 7#g      
,u4,s4,c4 #b7;h77#g77;,d77i77 is amended
 to read as follows3  7i7 ,in general   

,an affiliate of a person that qualifies
 for an exception under subparagraph    
7,a7 7including affiliate entities      
predominantly engaged in providing      
financing for the purchase of the       
merchandise or manufactured goods of the
 person7 may qualify for the exception  
only if the affiliate enters into the   
swap to hedge or mitigate the commercial
 risk of the person or other affiliate  
of the person that is not a financial   
entity1 provided that if the hedge or   
mitigation of such commercial risk is   
addressed by entering into a swap with a
 swap dealer or major swap participant1 
an appropriate credit support measure or
 other mechanism must be utilized4  4   
7#b7 ,securities ,exchange ,act of #aicd
 amendment ,section #c;,c7g77#d77;,a7 of
 the ,securities ,exchange ,act of #aicd
 7#ae ,u4,s4,c4 #gh;c-#c7;g77#d77;,a77  
is amended to read as follows3  7,a7 ,in
 general ,an affiliate of a person that 
qualifies for an exception under        
paragraph 7#a7 7including affiliate     

entities predominantly engaged in       
providing financing for the purchase of 
the merchandise or manufactured goods of
 the person7 may qualify for the        
exception only if the affiliate enters  
into the security-based swap to hedge or
 mitigate the commercial risk of the    
person or other affiliate of the person 
that is not a financial entity1 provided
 that if the hedge or mitigation such   
commercial risk is addressed by entering
 into a security-based swap with a      
security-based swap dealer or major     
security-based swap participant1 an     
appropriate credit support measure or   
other mechanism must be utilized4  4    
7b7 ,applicability of credit support    
measure requirement ,the requirements in
 section #b7;h77#g77;,d77i7 of the      
,commodity ,exchange ,act and section   
#c;,c7g77#d77;,a7 of the ,securities    
,exchange ,act of #aicd1 as amended by  
subsection 7a71 requiring that a credit 
support measure or other mechanism be   
utilized if the transfer of commercial  

risk referred to in such sections is    
addressed by entering into a swap with a
 swap dealer or major swap participant  
or a security-based swap with a         
security-based swap dealer or major     
security-based swap participant1 as     
appropriate1 shall not apply with       
respect to swaps or security-based      
swaps1 as appropriate1 entered into     
before the date of the enactment of this
 ,act4