H.R.3010 - Keep Repos to Maturity on Balance Sheet Act of 2013

To direct the Securities and Exchange Commission to require that repurchase-to-maturity transactions be treated as secured borrowings. view all titles (2)

All Bill Titles

  • Official: To direct the Securities and Exchange Commission to require that repurchase-to-maturity transactions be treated as secured borrowings. as introduced.
  • Short: Keep Repos to Maturity on Balance Sheet Act of 2013 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
08/02/13
 
 
 
 
 
 
 

Official Summary

Keep Repos to Maturity on Balance Sheet Act of 2013 - Directs the Securities and Exchange Commission (SEC), 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

Official Summary

Keep Repos to Maturity on Balance Sheet Act of 2013 - Directs the Securities and Exchange Commission (SEC), 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) concurrently the transferor and the transferee agree 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.

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