Committee Passes Derivatives Bill; NAM Hosts Hill Events On Derivatives

October 23, 2009

By a unanimous voice vote, the House Agriculture Committee on October 21 approved legislation that would regulate the over-the-counter (OTC) derivatives market. The bill approved by the Committee improves upon Chairman Collin Peterson's (D-MN) original version and includes three significant changes supported by the NAM. It will need to be merged with the bill passed last week in the House Financial Services Committee before heading to the floor. Timing of floor action is uncertain, as House leaders may insert derivatives into the final financial services reform legislation. In an effort to educate Hill staff on the unique ways manufacturers use OTC customized derivatives to manage risk, the NAM will host two “NAM From the Shopfloor” events on Capitol Hill next week (October 26 and 30).