H.R. 4604 — Introduced in House

I 116th CONGRESS 1st Session H. R. 4604 IN THE HOUSE OF REPRESENTATIVES October 4, 2019Mr. Dunn (for himself and Mr. Cox of California) introduced the following bill; which was referred to the Committee on Agriculture A BILL To clarify the clearing exemption for small financial institutions under the Commodity Exchange Act. 1. Short title This Act may be cited as the Small Financial Institution Certainty Act. 2. Certainty for small holding companies Section 2(h)(7)(C)(ii) of the Commodity Exchange Act (7 U.S.C. 2(h)(7)(C)(ii)) is amended to read as follows: (ii) Small financial entity exclusion Such definition shall not include any— (I) insured depository institution with total assets of $10,000,000,000 or less; (II) farm credit system institution with total assets of $10,000,000,000 or less; (III) credit union with total assets of $10,000,000,000 or less; (IV) bank holding company (as defined in section 2 of the Bank Holding Company Act of 1956) that has aggregated assets, including the assets of its subsidiaries, of $10,000,000,000 or less; or (V) savings and loan holding company (as defined in section 10 of the Home Owners’ Loan Act of 1933) that has aggregated assets, including the assets of its subsidiaries, of $10,000,000,000 or less. .