H.R.1165 - Keep Repos to Maturity on Balance Sheet Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Capuano, Michael E. [D-MA-7] (Introduced 02/27/2015)|
|Committees:||House - Financial Services|
|Latest Action:||02/27/2015 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1165 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (02/27/2015)
Keep Repos to Maturity on Balance Sheet Act of 2015
Directs the Securities and Exchange Commission, in establishing accounting principles or standards for purposes of the securities laws, to require that a repurchase-to-maturity transaction be treated as a secured borrowing in which the transferred asset serves as collateral.
Defines "repurchase-to-maturity transaction" as one in which: (1) a financial asset is transferred in exchange for cash, other financial assets, or letters of credit; and (2) the transferor and the transferee agree, concurrently that, at the asset's maturity, the transferee may either return the transferred asset (or a substantially similar asset) to the transferor, or redeem the transferred asset from the issuer of the transferred asset.