S. 961: Authorizing the Regulation of Swaps Act

111th Congress · introduced 2009-05-04 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2009-05-04 · official record
Who proposed it: Sen. Levin, Carl [D-MI] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Authorizing the Regulation of Swaps Act

Plain summary

Authorizing the Regulation of Swaps Act - Amends the Gramm-Leach-Bliley Act, the Securities Act of 1933, the Securities Exchange Act of 1934, the Commodity Futures Modernization Act of 2000, the Legal Certainty for Bank Products Act of 2000, and the Commodity Exchange Act to repeal prohibitions against regulation of credit default swaps and other swap agreements, whether traded on an exchange or over-the-counter, including commodity, equity, foreign currency, and interest rate swaps. Authorizes the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and specified other federal financial regulators to: (1) exercise oversight over any swap agreement entered into, purchased, or sold by any financial institution, entity, or person (for its own account or for the account of others), and any swap agreement, that is subject to the regulator's jurisdiction; and (2) promulgate, interpret, and enforce regulations, issue orders of general applicability, and impose disclosure, reporting, or recordkeeping requirements relating to any such swap agreement. Grants the SEC sole oversight authority over: (1) any exchange or clearing agency; and (2) any swap agreement traded on or cleared through such exchange or clearing agency. Grants the CFTC sole oversight authority over: (1) any trading facility or registered entity; and (2) any swap agreement executed on, traded on, or cleared through such trading facility or registered entity.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

Authorizing the Regulation of Swaps Act

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Levin, Carl [D-MI] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Susan M. Collins (R-ME)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Jurisdiction: The area or the matters a government or court has authority over.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s961.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s961 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111