What does Preamble of SILVER Act do?

This bill aims to amend the Commodity Exchange Act The amendment seeks to reduce systemic risk It also aims to increase geographical diversity and competition for precious metal depositories

What does SHORT TITLE. of SILVER Act do?

This bill is formally titled the System Integrity through Licensed Vault Expansion and Resilience Act.

What does FINDINGS. of SILVER Act do?

This section outlines findings related to precious metals exchanges and storage. Currently, precious metals exchanges require physically traded metals to be stored near New York City. This geographic concentration is identified as creating systemic risk vulnerabilities, reducing liquidity, and increasing costs. Recent events in global metals markets highlight the need to reduce regulatory barriers to increase metal supply. Existing vault security standards are considered outstanding and contribute to market participant confidence. Adding more storage vaults would enhance market liquidity and confidence. Lower-cost storage options, particularly near precious metals activity hubs and transportation networks, could reduce storage costs and improve market access. Systemically important financial market utilities should have a transparent process for selecting precious metals storage facilities.

What does PRECIOUS METALS DEPOSITORIES USED IN CONNECTION WITH FUTURES of SILVER Act do?

This section amends the Commodity Exchange Act to address risks related to the geographic concentration of precious metals depositories. Derivatives clearing organizations are required to develop and publish objective criteria for selecting depositories for storing precious metals. The selection process must consider factors like geographic diversity, competition, risk management, storage costs, and systemic risk. Derivatives clearing organizations must select at least two depositories in each U.S. time zone (Eastern, Central, Mountain, and Pacific). The legislation also modifies requirements related to assessing ease of access for physical settlement of commodities and conditions for metal service providers, including precious metals depositories.

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SILVER Act

Last updated: 3/19/2026 · Introduced: 3/19/2026

Author: Russ Fulcher (R-ID)

TL;DR (AI)

The SILVER Act amends the Commodity Exchange Act to mitigate systemic risk associated with the geographic concentration of precious metals depositories.
Derivatives clearing organizations must establish objective criteria and select at least two depositories in each U.S. time zone for storing precious metals.
The bill encourages greater geographical diversity and competition among precious metals depositories to enhance market liquidity and reduce storage costs.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

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