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2013 SESSION
SB 1034 Banks; derivative transactions.
Introduced by: John C. Watkins | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
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. This bill is identical to HB 2104.
FULL TEXT
- 01/08/13 Senate: Prefiled and ordered printed; offered 01/09/13 13101724D pdf | impact statement
- 02/15/13 Senate: Bill text as passed Senate and House (SB1034ER) pdf | impact statement
- 03/05/13 Governor: Acts of Assembly Chapter text (CHAP0098) pdf
HISTORY
- 01/08/13 Senate: Prefiled and ordered printed; offered 01/09/13 13101724D
- 01/08/13 Senate: Referred to Committee on Commerce and Labor
- 01/14/13 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 01/16/13 Senate: Constitutional reading dispensed (40-Y 0-N)
- 01/17/13 Senate: Read second time and engrossed
- 01/18/13 Senate: Read third time and passed Senate (38-Y 0-N)
- 01/25/13 House: Placed on Calendar
- 01/25/13 House: Read first time
- 01/25/13 House: Referred to Committee on Commerce and Labor
- 02/07/13 House: Reported from Commerce and Labor (20-Y 0-N)
- 02/11/13 House: Read second time
- 02/12/13 House: Read third time
- 02/12/13 House: Passed House BLOCK VOTE (100-Y 0-N)
- 02/12/13 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/15/13 Senate: Enrolled
- 02/15/13 Senate: Bill text as passed Senate and House (SB1034ER)
- 02/15/13 House: Signed by Speaker
- 02/18/13 Senate: Signed by President
- 03/05/13 Governor: Approved by Governor-Chapter 98 (effective 7/1/13)
- 03/05/13 Governor: Acts of Assembly Chapter text (CHAP0098)