A bill to amend the Federal Reserve Act to authorize the Board of Governors of the Federal Reserve System to establish margin requirements for transactions in financial instruments.

referredUnited States· United States Congress· EN

Introduced

14 May 1980

Last action

—

Status

Referred to Senate Committee on Banking, Housing and Urban Affairs.

Summary

Amends the Federal Reserve Act to direct the Board of Governors of the Federal Reserve System to regulate: (1) the terms, conditions and amounts of credit for acquiring any financial instrument, not already subject to the margin requirements of the Securities Exchange Act of 1934; and (2) minimum deposits to be furnished when purchasing a futures contract involving such financial instruments. Requires persons subject to such regulations to furnish the Board with necessary information. Authorizes the Board to bring action in U.S. district courts to enjoin any violation of such regulations. Sets forth criminal penalties for violations of such regulations.

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Documents

1 official file

Introduced in Senate
summary · EN · 14 May 1980
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/senate-bill/2704
Open data entity: https://api.congress.gov/v3/bill/96/s/2704