S.Amdt. 4105

SA 4105. Mr. DURBIN submitted an amendment intended to be proposed to
amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself and
Mrs. Lincoln)) to the bill S. 3217, to promote the financial stability
of the United States by improving accountability and transparency in
the financial system, to end ``too big to fail'', to protect the
American taxpayer by ending bailouts, to protect consumers from abusive
financial services practices, and for other purposes; which was ordered
to lie on the table; as follows:

On page 621, after line 23, insert the following:
(h) Linking of Regulated Clearing Facilities.--Section
5b(f)(1) of the Commodity Exchange Act (7 U.S.C. 7a-1) is
amended to read as follows:
``(1) In general.--The Commission shall facilitate the
linking or coordination of derivatives clearing organizations
registered under this chapter with other regulated clearance
facilities for the coordinated settlement of cleared
transactions. In order to minimize systemic risk, under no
circumstances shall a derivatives clearing organization be
compelled to accept the counterparty credit risk of another
clearing organization.''.
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