The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
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The U.S. House Agriculture Subcommittee on Commodity Exchanges, Energy, and Credit considered testimony on international developments that could affect the U.S. derivatives markets.
Seventeen House Democrats urged prudential regulators to ease initial margin requirements for inter-affiliate swap transactions by harmonizing with the CFTC and other major G20 regulators.
The House Financial Services Committee approved six bills intended to enhance capital formation.
House Agriculture Committee leadership urged federal banking regulators and the CFTC to work with the European Commission to: (i) adhere to the agreed upon timetable for implementation of rules on margin for uncleared swaps, or if that effort is unsuccessful, (ii) to coordinate a new global implementation timeline.