SILVER Act
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Summary
The SILVER Act amends the Commodity Exchange Act to require derivatives clearing organizations to diversify precious metals storage facilities geographically across the United States. The bill mandates that clearing organizations develop transparent criteria for selecting depositories, approve at least two facilities in each of the four continental U.S. time zones, and consider factors including geographic diversity, competition, storage costs, and systemic risk when making selections. The legislation aims to reduce concentration risk in precious metals markets and lower storage costs for market participants.
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How your representatives voted
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