Banks; derivative transactions. (HB2104)
Introduced By
Del. Terry Kilgore (R-Gate City)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Banks; derivative transactions. Provides for the treatment of derivative transactions with regard to the requirement that the total obligations of any person to any bank shall at no time exceed 15 percent of the sum of the capital, surplus, and loan loss reserve of a bank. An "obligation" is defined in this measure as including any credit exposure to a person arising from a derivative transaction between the bank and the person. "Derivative transaction" is defined as including any transaction that is a contract, agreement, swap, warrant, note, or option that is based, in whole or in part, on the value of, any interest in, or any quantitative measure or the occurrence of any event relating to, one or more commodities, securities, currencies, interest or other rates, indices, or other assets. The Commission is authorized to adopt regulations to further define the term "derivative transaction" and to set forth the rules for calculating credit exposures arising from derivative transactions.
Outcome
History
| Date | Action |
|---|---|
| 01/09/2013 | Committee |
| 01/09/2013 | Prefiled and ordered printed; offered 01/09/13 13103720D |
| 01/09/2013 | Referred to Committee on Commerce and Labor |
| 01/15/2013 | Impact statement from SCC (HB2104) |
| 01/24/2013 | Reported from Commerce and Labor (20-Y 0-N) (see vote tally) |
| 01/28/2013 | Read first time |
| 01/29/2013 | Read second time and engrossed |
| 01/30/2013 | Read third time and passed House (99-Y 0-N) |
| 01/30/2013 | VOTE: PASSAGE (99-Y 0-N) (see vote tally) |
| 01/31/2013 | Constitutional reading dispensed |
| 01/31/2013 | Referred to Committee on Commerce and Labor |
| 02/11/2013 | Reported from Commerce and Labor (16-Y 0-N) (see vote tally) |
| 02/13/2013 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
| 02/14/2013 | Read third time |
| 02/14/2013 | Passed Senate (40-Y 0-N) (see vote tally) |
| 02/20/2013 | Enrolled |
| 02/20/2013 | Bill text as passed House and Senate (HB2104ER) |
| 02/20/2013 | Signed by Speaker |
| 02/20/2013 | Signed by President |
| 02/21/2013 | Impact statement from SCC (HB2104ER) |
| 03/06/2013 | G Approved by Governor-Chapter 126 (effective 7/1/13) |
| 03/06/2013 | G Acts of Assembly Chapter text (CHAP0126) |