U.S. Business Leaders Welcome House-Passed Reforms That Reduce Economic Costs, More Effectively Target Systemic Risks
The Coalition for Derivatives End-Users, which represents U.S. companies and business associations, applauded yesterday’s strong bipartisan vote in the U.S. House of Representatives on two important financial reform bills.
The legislation embodies meaningful reforms to protect companies that use derivatives to manage business risk, while more effectively focusing new regulations on the systemic risks that the Dodd-Frank Wall Street Reform and Consumer Protection Act was intended to address.
The reforms were included in the following two bills passed by the House:
H.R. 2779, a Bill to Exempt Inter-Affiliate Swaps from the Regulatory Requirements of Title VII of the Dodd-Frank Act, introduced by Representatives Steve Stivers (R-OH) and Marcia Fudge (D-OH), would prevent internal, inter-affiliate trades from being subject to regulatory burdens that would create costs without a corresponding benefit. Click here to view the Coalition for Derivatives End-Users letter of support for H.R. 2779.
H.R. 2682, the Business Risk Mitigation and Price Stabilization Act of 2011, introduced by Representatives Michael Grimm (R-NY), William Owens (D-NY), Gary Peters (D-MI) and Austin Scott (R-GA), would create a partial exemption from margin requirements for derivatives end-users. Click here to view the Coalition for Derivatives End-Users letter of support for H.R. 2682.
Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with over $6 trillion in annual revenues and more than 14 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay $163 billion in dividends to shareholders and generate an estimated $420 billion in sales for small and medium-sized businesses annually.
BRT companies give nearly $9 billion a year in combined charitable contributions.
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