12 U.S.C. § 5472 — Common framework for designated clearing entity risk management

FEDERAL · 12 U.S.C. · Chapter 53

Common framework for designated clearing entity risk management

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 53 — WALL STREET REFORM AND CONSUMER PROTECTION·Subch. IV

The Commodity Futures Trading Commission and the Commission shall coordinate with the Board of Governors to jointly develop risk management supervision programs for designated clearing entities. Not later than 1 year after July 21, 2010, the Commodity Futures Trading Commission, the Commission, and the Board of Governors shall submit a joint report to the Committee on Banking, Housing, and Urban Affairs and the Committee on Agriculture, Nutrition, and Forestry of the Senate, and the Committee on Financial Services and the Committee on Agriculture of the House of Representatives recommendations 1 for—

(1)improving consistency in the designated clearing entity oversight programs of the Commission and the Commodity Futures Trading Commission;

(2)promoting robust risk management by designate

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The Commodity Futures Trading Commission and the Commission shall coordinate with the Board of Governors to jointly develop risk management supervision programs for designated clearing entities. Not later than 1 year after July 21, 2010, the Commodity Futures Trading Commission, the Commission, and the Board of Governors shall submit a joint report to the Committee on Banking, Housing, and Urban Affairs and the Committee on Agriculture, Nutrition, and Forestry of the Senate, and the Committee on Financial Services and the Committee on Agriculture of the House of Representatives recommendations 1 for—
(1) improving consistency in the designated clearing entity oversight programs of the Commission and the Commodity Futures Trading Commission;
(2) promoting robust risk management by designated clearing entities;
(3) promoting robust risk management oversight by regulators of designated clearing entities; and
(4) improving regulators' ability to monitor the potential effects of designated clearing entity risk management on the stability of the financial system of the United States.

12 U.S.C. § 5472 (Common framework for designated clearing entity risk management) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Pub. L. 111–203, title VIII, §813, July 21, 2010, 124 Stat. 1821.)