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United States · Bill · HR

H.R. 3336 (112th)

Small Business Credit Availability Act

referredUnited States· United States Congress· EN

Introduced

3 November 2011

Last action

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Status

Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Small Business Credit Availability Act - Amends the Commodity Exchange Act (as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act) with respect to the exclusion of an insured depository institution from regulation as a "swap dealer." Eliminates the criterion for such exclusion as to the extent to which the institution offers to enter into a swap with a customer in connection with originating a loan with that customer. Adds as new criteria for such exclusion the extent to which the institution enters into a swap: (I) with a customer that is seeking to manage risk in connection with an extension of credit by the institution to, on behalf of, or for the benefit of, the customer; or (2) to offset the risks arising from a swap that meets such requirement. Excludes from regulation as a swap dealer, under the same criteria, an institution chartered and operating under the Farm Credit Act of 1971. Revises the criteria for exemption of a swap from the requirement that it be submitted for clearing to a derivatives clearing organization either registered under this Act or exempt from registration. Revises in particular the exemption from this requirement of a swap one of whose counterparties is not a financial institution. Modifies the definition of "financial entity" with respect to a small bank, savings association, farm credit system institution, or credit union which the Commodity Futures Trading Commission (CFTC) may consider whether to exempt from such definition. Repeals the CFTC's discretion to make such an exemption. Excludes outright from the meaning of financial entity any small bank, savings association, farm credit system institution, or credit union if: (1) its total assets are $30 billion or less, or (2) its aggregate uncollateralized outward exposure plus aggregate potential outward exposure with respect to its swaps does not exceed $1 billion. (Thus exempts such a small bank, savings association, farm credit system institution, or credit union from the clearing requirement.)

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Documents

11 official files

Referred in Senate (text)

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