SILVER Act aims to reduce systemic risk in precious metals markets by expanding storage options and increasing geographic diversity.
The SILVER Act seeks to amend the Commodity Exchange Act to address systemic risks in precious metals markets by expanding the geographic diversity of precious metals depositories. The bill mandates that derivatives clearing organizations select at least two depositories in each time zone to enhance liquidity, market resiliency, and competition. It also requires these organizations to develop transparent criteria for evaluating and selecting depositories, ensuring a fair and open process for market participants.
The filed bill text is too short for analysis.