,,ib  ,union ,cal5d> ,no4 #fbi  #aae?   
,,congress  #b;d ,session  ,h4 ,r4 #egdi
  ,report ,no4 #aae-haj  ,,9 ,,! ,,h\se 
,,( ,,repres5tatives  ,may #aj1 #bjah   
,mr4 ,hultgr5 introduc$ ! foll[+ bill2  
:i* 0 ref]r$ to ! ,committee on         
,f9ancial ,s]vices  ,july #aj1          
#bjah;,additional sponsor3 ,mr4 ,fo/]   
,july #aj1 #bjah ,report$ ) an am5dm5t1 
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
pr9t$ ,/rike out all aft] ! enact+      
clause & ins]t ! "p pr9t$ 9 italic ,=   
text ( introduc$ bill1 see copy ( bill z
 introduc$ on ,may #aj1 #bjah  ,a ,,bill
  ,to require ! appropriate ,f$]al bank+
 ag5cies to increase ! risk-s5sitivity (
 ! capital treatm5t ( c]ta9 c5trally    
cle>$ options1 & = o!r purposes4  #a4   
,%ort title ,?is ,act may be cit$ z !   
,options ,m>kets ,/ability ,act4  #b4   
,rulemak+ ,)9 #ahj days ( ! date (      
enactm5t ( ?is ,act1 ! ,bo>d ( ,gov]nors
 ( ! ,f$]al ,res]ve ,sy/em1 ! ,f$]al    
,deposit ,insurance ,corporation1 & !   

,comptroll] ( ! ,curr5cy %all1 jo9tly1  
issue a propos$ rule1 & f9alize su* rule
 )9 #cfj days ( ! date ( enactm5t ( ?is 
,act1 to adopt a me?odology = calculat+ 
! c\nt]p>ty cr$it risk exposure1 at     
default1 ( a depository in/itution1     
depository in/itution hold+ company1 or 
affiliate !re( to a cli5t aris+ f a     
gu>antee provid$ by ! depository        
in/itution1 depository in/itution hold+ 
company1 or affiliate !re( to a c5tral  
c\nt]p>ty 9 respect ( ! cli5t's p]=mance
 "u a d]ivative contract cle>$ ?r\gh t  
c5tral c\nt]p>ty pursuant to ! risk-bas$
 & lev]age-bas$ capital rules applicable
 to depository in/itutions & depository 
in/itution hold+ companies "u p>ts #c1  
#bag1 & #cbd ( title #ab1 ,code ( ,f$]al
 ,regulations4 ,9 issu+ su* rule1 !     
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em1 ! ,f$]al ,deposit ,insurance    
,corporation1 & ! ,comptroll] ( !       
,curr5cy %all consid]--  7#a7 !         
availability ( liquidity provid$ by     
m>ket mak]s dur+ times ( high volatility

 9 ! capital m>kets2  7#b7 ! spread     
betwe5 ! bid & ! quote (f]$ by m>ket    
mak]s2  7#c7 ! pref]5ce = cle>+ ?r\gh   
c5tral c\nt]p>ties2  7#d7 ! safety &    
s\ndness ( ! f9ancial sy/em & f9ancial  
/ability1 includ+ ! b5efits ( c5tral    
cle>+2  7#e7 ! safety & s\ndness (      
individual in/itutions t may c5trally   
cle> d]ivatives or options on behalf ( a
 cli5t1 includ+ conc5tration ( m>ket    
%>e2  7#f7 ! economic value ( delta     
weight+ a c\nt]p>ty's position & nett+ (
 a c\nt]p>ty's position2  7#g7 ! inh]5t 
risk ( ! positions2  7#h7 b>ri]s to     
entry = depository in/itutions1         
depository in/itution hold+ companies1  
affiliates !re(1 & entities n affiliat$ 
) a depository in/itution or depository 
in/itution hold+ company to c5trally    
cle> d]ivatives or options on behalf (  
m>ket mak]s2  7#i7 ! impact any *anges  
may h on ! broad] capital regime &      
aggregate capital 9 ! sy/em2 &  7#aj7   
consid]ation ( o!r pot5tial factors t   
impact m>ket mak+ 9 ! options m>ket1    

includ+ *anges 9 m>ket /ructure4  #c4   
,report to ,congress ,at ! end ( !      
#e-ye> p]iod beg9n+ on ! date ! f9al    
rule is issu$ "u section #a1 ! ,bo>d (  
,gov]nors ( ! ,f$]al ,res]ve ,sy/em %all
 submit to ! ,committee on ,f9ancial    
,s]vices ( ! ,h\se ( ,repres5tatives & !
 ,committee on ,bank+1 ,h\s+1 & ,urban  
,affairs ( ! ,s5ate a report detail+ !  
impact ( ! f9al rule dur+ su* p]iod on !
 factors describ$ "u p>agraphs 7#a7     
?r\gh 7#aj7 ( section #b4  ,july #aj1   
#bjah ,report$ ) an am5dm5t1 committ$ to
 ! ,committee ( ! ,:ole ,h\se on ! ,/ate
 ( ! ,union1 & ord]$ to be pr9t$