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H.R. 5323, Derivatives Fairness Act (CBO Report for Congress)

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Congress 115th
Date Requested March 21, 2018
Requested By House Committee on Financial Services
Date Sent June 1, 2018
Description:

H.R. 5323 would prohibit the federal financial regulators from requiring banks to hold capital against certain derivative contracts. Under current law, the calculation of a bank’s capital requirement includes amounts for some derivative contracts.

 

CBO estimates that implementing H.R. 5323 would, on net, increase the deficit by $2 million over the 2019-2028 period. That estimate includes an increase in direct spending of $2 million and an increase in revenues of less than $500,000. Because enacting the bill would increase direct spending and revenues, pay-as-you-go procedures apply.

 

CBO estimates that enacting H.R. 5323 would not increase net direct spending by more than $2.5 billion or on-budget deficits by more than $5 billion in any of the four consecutive 10-year periods beginning in 2029.

 

H.R. 5323 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.

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