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Key Votes

HR 992 - Swaps Regulatory Improvement Act - Key Vote

National Key Votes

Matt Cartwright voted Nay (Passage) on this Legislation.

Read statements Matt Cartwright made in this general time period.

Stages

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Issues

Stage Details

Legislation - Referred to Committee (Senate) -
Legislation - Bill Passed (House) (292-122) - (Key vote)

Title: Swaps Regulatory Improvement Act

Vote Smart's Synopsis:

Vote to pass a bill that amends the Dodd-Frank Wall Street Reform and Consumer Protection Act by exempting certain covered depository institutions from the prohibition on federal government financial assistance for swap entities.

Highlights:
  • Authorizes a covered depository institution to receive federal assistance if the institution limits its swap and security-based swap activities to hedging and similar risk activities, non-structured finance swap activities, and certain structured finance swap activities for hedging or risk management (Sec. 2).
  • Defines “covered depository institution” as an insured depository institution and a United States uninsured branch or agency of a foreign bank (Sec. 2).
  • Defines “structured finance swap” as a swap or security-based swap based on an asset-backed security (Sec. 3).
  • Requires the asset-backed security of a structured finance swap to be of credit quality and to adhere to the rules which the prudential regulators have jointly adopted authorizing swap or security-based swap activity (Sec. 2).
Legislation - Introduced (House) -

Title: Swaps Regulatory Improvement Act

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