H.R. 677: Inter-Affiliate Swap Clarification Act

113th Congress · introduced 2013-02-13 · Finance and Financial Sector · Latest: Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10.

federal

Follow this bill, step by step

Where it came from: introduced 2013-02-13 · official record
Who proposed it: Rep. Stivers, Steve [R-OH-15] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 10. 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

Inter-Affiliate Swap Clarification Act

Plain summary

Inter-Affiliate Swap Clarification Act - Amends the Commodity Exchange Act and the Securities Exchange Act of 1934, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to exempt from certain regulatory requirements any swaps and security-based swaps entered into by parties neither of which is a swap dealer or a major swap participant: (1) that is also an insured depository institution, (2) that reports information or prepares financial statements on a consolidated basis, or (3) for which a company affiliated with both parties reports information or prepares financial statements on a consolidated basis. Requires that such exempted agreements, contracts, or transactions be reported to an appropriate data repository, or, if there is no such repository that would accept them, to: (1) the Commodity Futures Trading Commission (CFTC) in the case of exempted swaps, or (2) the Securities and Exchange Commission (SEC) in the case of exempted security-based swaps.

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

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Inter-Affiliate Swap Clarification Act

Source: Congressional Research Service summary (Introduced in House)

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

Officials and money

Sponsor: Rep. Stivers, Steve [R-OH-15] · 11 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Gwen Moore (D-WI), David Schweikert (R-AZ), Eric A. "Rick" Crawford (R-AR), Joyce Beatty (D-OH), Juan Vargas (D-CA)

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)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
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 House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr677.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr677 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113