SILVER Act aims to enhance market resilience by increasing geographical diversity and competition in precious metals storage.
The SILVER Act seeks to amend the Commodity Exchange Act to address systemic risk in precious metals storage by promoting geographical diversity and competition. It mandates that systemically important derivatives clearing organizations select at least two depositories in each time zone, focusing on factors like geographic diversity, competition, risk management, and storage costs. The bill also emphasizes the need for a transparent selection process for precious metals storage facilities and aims to reduce systemic risk vulnerabilities and costs for market participants.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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