Amends the Commodity Exchange Act to enhance geographic diversity and competition for precious metals depositories.
The SILVER Act amends the Commodity Exchange Act to address systemic risk and enhance competition in precious metals storage. It requires derivatives clearing organizations to develop transparent criteria for selecting depositories, assess geographic diversity, and ensure market resiliency. The bill aims to reduce systemic risk by diversifying the geographic concentration of precious metals storage, thereby increasing liquidity and lowering costs for market participants.
The filed bill text is too short for analysis.