PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Finance and Hazardous Materials.
Congressional Research Service
Version 00 · Introduced in House · Apr 6, 2000
Over-the-Counter Derivatives Systemic Risk Reduction Act of 2000 - States that the operation of a multilateral clearing organization for over-the-counter derivative instruments is limited to: (1) banks; and (2) certain corporations chartered under the Federal Reserve Act.Sets forth rules of construction to emphasize that the Commodity Futures Trading Commission and the Securities and Exchange Commission retain their inherent jurisdiction over the trading and clearing activities within their respective purviews.States that a multilateral clearing organization under the jurisdiction of the Board of Governors of the Federal Reserve System (the Board) or the Comptroller of the Currency does not fall within the jurisdiction of any other Federal entity as a result of clearing any over-the-counter derivative instrument.States that no over-the-counter instrument to which a financial institution is a party shall be subject to rescission or held unenforceable based solely on the regulatory status or jurisdiction over such instrument under Federal or State law.Provides that an over-the-counter instrument does not fall within the purview of the Commodity Exchange Act as a consequence of being the subject of an electronic trade or communication.Authorizes the Board to appoint a conservator or receiver to take possession and control of a State bank which operates, or operates as, a multilateral clearing organization in the same manner as the Comptroller of the Currency may do so.
People & committees
Rep. Leach, James A. [R-IA-1] · R–IA
Legislative record
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Referred to the Subcommittee on Finance and Hazardous Materials.
Referred to the Subcommittee on Commercial and Administrative Law.
Referred to the Subcommittee on Risk Management, Research and Specialty Crops.
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Commerce, Agriculture, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Commerce, Agriculture, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Commerce, Agriculture, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Commerce, Agriculture, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Commerce, Agriculture, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 20, 2025. Consult Congress.gov for the current record.
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