Depository Trust & Clearing Corporation: Statement On House Passage Of H.R. 1847 - Swap Data Repository And Clearinghouse Indemnification Correction Act

The Depository Trust & Clearing Corporation (DTCC) today issued the following statement in response to the U.S. House of Representatives’ passage of the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015 (H.R. 1847):

"DTCC applauds House passage of the Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015. Bipartisan passage of H.R. 1847 is a key milestone in the process to remove the Dodd-Frank Act’s indemnification provisions. These provisions pose a significant barrier to U.S. and global regulators as they seek to leverage the data and transparency benefits offered by swap data repositories. To help ensure regulators obtain a consolidated and accurate view of the global over-the-counter derivatives marketplace, we urge the Senate to move swiftly to support this non-controversial, technical fix.”