SILVER Act aims to reduce systemic risk and increase competition in precious metals storage by expanding geographic diversity.

The SILVER Act amends the Commodity Exchange Act to address systemic risks and enhance competition in precious metals storage. It requires systemically important derivatives clearing organizations to select depositories for precious metals storage based on geographic diversity, competition, risk management, storage costs, and systemic risk implications. The bill mandates that these organizations select at least two depositories in each U.S. time zone, promoting greater market access, liquidity, and resiliency.

SILVER Act aims to reduce systemic risk and increase competition in precious metals storage by expanding geographic diversity.

The SILVER Act amends the Commodity Exchange Act to address systemic risks and enhance competition in precious metals storage. It requires systemically important derivatives clearing organizations to select depositories for precious metals storage based on geographic diversity, competition, risk management, storage costs, and systemic risk implications. The bill mandates that these organizations select at least two depositories in each U.S. time zone, promoting greater market access, liquidity, and resiliency.