Washington – The Coalition for Derivatives End-Users today issued the following statement on the introduction of legislation by Senators Mike Johanns (R-NE), , Jon Tester (D-MT), Roy Blunt (R-MO), Mike Crapo (R-ID), Joe Donnelly (D-IN), , Kay Hagan (D-NC), Heidi Heitkamp (D-ND), Amy Klobuchar (D-MN), Jerry Moran (R-KS), Richard Shelby (R-AL), Pat Toomey (R-PA) and Mark Warner (D-VA) to exempt non-financial end-user companies from margin requirements applied to their derivatives trades:

“Main Street companies are running out of time for relief from onerous margin requirements that were never intended for them.  The bipartisan bill introduced today by Sens. Johanns, Tester, Blunt, Crapo, Donnelly, Hagan, Heitkamp, Klobuchar, Moran, Shelby, Toomey and Warner demonstrates a strong commitment to fixing the problem.  Businesses cannot create much needed jobs and spur economic growth if they are forced to needlessly sideline working capital. The bill will protect companies that use derivatives to manage day-to-day business risk.  The Coalition for Derivatives End-Users, and the hundreds of businesses it represents, applauds this bipartisan legislation and looks forward to Senate action in the near-term. With implementation looming, main street businesses need the certainty that this bill offers and they need it now,” said Michael Bopp, Counsel to the Coalition for Derivatives End-Users.

This bill is companion legislation to H.R. 634, which was passed unanimously today by the House Financial Services Committee.

The Coalition for Derivatives End-Users includes the following major U.S. business associations: 

• Agricultural Retailers Association
• Business Roundtable
• Financial Executives International
• National Association of Manufacturers
• U.S. Chamber of Commerce