Page:United States Statutes at Large Volume 104 Part 1.djvu/1010

 104 STAT. 976 PUBLIC LAW 101-432—OCT. 16, 1990 12 USC 1831/. "SEC. 35. COORDINATION OF RISK ANALYSIS BETWEEN SEC AND FED- ERAL BANKING AGENCIES. "Any appropriate Federal banking agency shall notify the Securities and Exchange Commission of any concerns of the agency regarding significant financial or operational risks to any registered broker or dealer, or any registered municipal securities dealer, government securities broker, or government securities dealer for which the Commission is the appropriate regulatory agency (as defined in section 3 of the Securities Exchange Act of 1934), resulting from the activities of any insured depository institution, any depository institution holding company, or any afhliate of any such institution or company if such broker, dealer, municipal securities dealer, government securities broker, or government securities dealer is an affiliate of any such institution, company, or affiliate.". 15 USC 78b note. SEC. 8. REPORTS TO CONGRESS. (a) INTERMARKET COORDINATION. —The Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve System, the Chairman of the Securities and Exchange Commission, and the Chairman of the Commodity Futures Trading Commission, shall report to the Congress not later than May 31, 1991, and annually thereafter until May 31, 1995, on the following: (1) the efforts their respective agencies have made relating to the coordination of regulatory activities to ensure the integrity and competitiveness of United States financial markets; (2) the efforts their respective agencies have made to formulate coordinated mechanisms across marketplaces to protect the payments and market systems during market emergencies; (3) the views of their respective agencies with respect to the adequacy of margin levels and use of leverage by market participants; and (4) such other issues and concerns relating to the soundness, stability, and integrity of domestic and international capital markets as may be appropriate. The agencies shall cooperate in the development of their reports, and prior to submitting its report to Congress, each agency shall provide copies to the other agencies. l5USe78q-l (b) CLEARANCE AND SETTLEMENT. —The Securities and Exchange Commission, in consultation with the Commodity Futures Trading Commission, the Board of Governors of the Federal Reserve System, and other relevant regulatory authorities, shall examine progress toward establishing linked or coordinated facilities for clearance and settlement of transactions in securities, securities options, contracts of sale for future delivery and options thereon, and commodity options, and shall submit to the Committees on Energy and Commerce and Agriculture of the House of Representatives and the note.

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