Financial Netting Improvements Act of 2006
Sponsor: Patrick McHenry (R-NC)
Financial Netting Improvements Act of 2006 - (Sec. 2) Amends the Federal Deposit Insurance Act (FDIA) and the Federal Credit Union Act to revise treatment of certain agreements entered into before appointment of depository institution conservators or receivers, including securities contracts, forward contracts, and swap agreements. (Sec. 3) Defines "person" to include any governmental entity. (Sec. 4) Amends the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to revise certain requirements pertinent to bilateral netting to declare that the covered contractual payment obligations and the covered contractual payment entitlements between any two financial institutions shall be terminated, liquidated, accelerated, and netted in accordance with, and subject to the conditions of, the terms of any applicable netting contract.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 9.2% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 395 | 90.8% |
| Nay | Lost | 0 | 0.0% |
| Not represented on this question | No position taken | 0 | 9.2% |