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Access to Federal Reserve Accounts for Derivatives Clearing Organizations

This act expands access to Federal Reserve Bank accounts for more types of financial organizations that handle transaction clearing. The goal is to enhance financial system stability through improved risk management. For citizens, this means potentially safer financial markets, which can indirectly impact their savings and investments.
Key points
More derivatives clearing organizations can now open accounts at the Federal Reserve.
New risk management standards will apply to these organizations to protect financial stability.
The changes aim to reduce risk in the financial system, benefiting the overall economy.
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Expired
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Additional Information
Print number: 117_HR_5767
Sponsor: Rep. Cleaver, Emanuel [D-MO-5]
Process start date: 2021-10-28
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Risk Management for Derivatives Clearing Organizations Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5767.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-10-28.

What are the main provisions?

Key points include:

  • More derivatives clearing organizations can now open accounts at the Federal Reserve.
  • New risk management standards will apply to these organizations to protect financial stability.
  • The changes aim to reduce risk in the financial system, benefiting the overall economy.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Cleaver, Emanuel [D-MO-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy