,i  #aaeth ,,congress  #b;d ,session    
,h4 ,r4 #egdi  ,,in ,,the ,,house ,,of  
,,representatives  ,may #aj1 #bjah,mr4  
,hultgren introduced the following bill2
 which was referred to the ,committee on
 ,financial ,services  ,a ,,bill  ,to   
require the appropriate ,federal banking
 agencies to increase the               
risk-sensitivity of the capital         
treatment of certain centrally cleared  
options1 and for other purposes4  #a4   
,short title ,this ,act may be cited as 
the ,options ,markets ,stability ,act4  
#b4 ,credit exposure for guarantees of  
centrally cleared options  7a7          
,definitions ,in this section1 the terms
 affiliate1 appropriate ,federal banking
 agency1 depository institution1 and    
depository institution holding company  
have the meanings given those terms1    
respectively1 in section #c of the      
,federal ,deposit ,insurance ,act 7#ab  
,u4,s4,c4 #ahac74  7b7 ,treatment of    
certain centrally cleared option        
derivatives exposures ,for purposes of  

calculating the counterparty credit risk
 exposure of a depository institution1  
depository institution holding company1 
or affiliate thereof1 to a client       
arising from a guarantee provided by the
 depository institution1 depository     
institution holding company1 or         
affiliate thereof to a central          
counterparty in respect of the client's 
performance under a derivative contract 
cleared through that central            
counterparty pursuant to the risk-based 
and leverage-based capital rules        
applicable to depository institutions   
and depository institution holding      
companies under parts #c1 #bag1 and #cbd
 of title #ab1 ,code of ,federal        
,regulations1 the term effective        
notional principal amount with respect  
to such centrally cleared derivative    
contract means the hypothetical         
on-balance sheet position in the        
underlying asset that would evidence the
 same change in fair value 7measured in 
dollars7 given a small change in the    

price of the underlying asset4  7c7     
,calculation of exposure for centrally  
cleared derivatives ,for purposes of    
calculating the counterparty credit risk
 exposure of a depository institution1  
depository institution holding company1 
or affiliate thereof to a client arising
 from a guarantee provided by the       
depository institution1 depository      
institution holding company1 or         
affiliate thereof to a central          
counterparty in respect of the client's 
performance under a derivative contract 
cleared through that central            
counterparty pursuant to the risk-based 
and leverage-based capital rules        
applicable to depository institutions   
and depository institution holding      
companies under parts #c1 #bag and #cbd 
of title #ab1 ,code of ,federal         
,regulations1 the offsetting nature of  
significantly and reliably correlated   
positions within a netting set must be  
reflected in a manner consistent with   
the risk offsets provided by the central

 counterparty4