H.R. 4267 · 113th Congress
Commodity Delivery Relief Act
- Stage
- In committee
- Sponsor
- Vance McAllister
- Introduced
- 2014-03-14
- Latest action
- 2014-04-01 · Referred to the Subcommittee on General Farm Commodities and Risk Management.
Summary
Commodity Delivery Relief Act - Amends the Commodity Exchange Act to revise the exclusion from the definition of "swap" of any sale of a nonfinancial commodity or security for deferred shipment or delivery, so long as the transaction is intended to be physically settled.
Excludes from the meaning of "swap" also: (1) any purchase of a nonfinancial commodity or security for deferred shipment or delivery, so long as the transaction is intended to be physically settled; and (2) any stand-alone or embedded option for which exercise results in a physical delivery obligation.