Title 12 — Banks and Banking
Chapter 53 — Wall Street Reform and Consumer Protection
§ 5472. Common framework for designated clearing entity risk management
Statutory text
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 , 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—
improving consistency in the designated clearing entity oversight programs of the Commission and the Commodity Futures Trading Commission;
promoting robust risk management by designated clearing entities;
promoting robust risk management oversight by regulators of designated clearing entities; and
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.
Footnotes
- 1 So in original. Probably should be preceded by “with”.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Payment, Clearing, and Settlement Supervision Act of 2010
Pub. L. 111–203 title VIII § 813 · 124 Stat. 1376
Enacted · 12 U.S.C. § 5472
(Pub. L. 111–203, title VIII, § 813, July 21, 2010, 124 Stat. 1821.)
Source evidence
Code source credit
(Pub. L. 111–203, title VIII, § 813, July 21, 2010, 124 Stat. 1821.)Enacted provision · exact public law section
SEC. 813. COMMON FRAMEWORK FOR DESIGNATED CLEARING ENTITY RISK MANAGEMENT. 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. Deadline. Reports. Not later than 1 year after the date of enactment of this Act, 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 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.
1 of 1 references resolved to an enrolled provision