S.Amdt. 3104

SA 3104. Mr. HATCH submitted an amendment intended to be proposed by
him to the bill H.R. 2, to provide for the reform and continuation of
agricultural and other programs of the Department of Agriculture
through fiscal year 2023, and for other purposes; which was ordered to
lie on the table; as follows:

At the end of subtitle E of title XII, add the following:

SEC. 125___. APPLICABILITY OF CAPITAL AND MARGIN REQUIREMENTS
TO COUNTERPARTIES.

Section 4s(e)(4) of the Commodity Exchange Act (7 U.S.C.
6s(e)(4)) is amended--
(1) by striking ``counterparty qualifies'' and inserting
the following: ``counterparty--
``(A) qualifies'';
(2) in subparagraph (A) (as so designated), by striking the
period at the end and inserting ``; or''; and
(3) by adding at the end the following:
``(B)(i) is a money transmitter (as defined in section
1010.100(ff)(5) of title 31, Code of Federal Regulations) (or
any successor regulation)) that--
``(I) is regulated by a State, the District of Columbia, or
a territory or possession of the United States for financial
adequacy;
``(II) is registered in accordance with section 1022.380 of
title 31, Code of Federal Regulations (or any successor
regulation); and
``(III) enters only into swaps exclusively for the purpose
of offsetting risks generated from foreign currency contracts
with an entity that is not a financial end user (as defined
in section 23.151 of title 17, Code of Federal Regulations
(or any successor regulation)); and
``(ii) has total assets of $1,000,000,000 or less on the
last day of its most recent fiscal year.''.
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