What does Preamble of SILVER Act do?

This bill proposes to amend the Commodity Exchange Act. The stated purpose is to reduce systemic risk. It also aims to increase geographical diversity and competition related to precious metals 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, reducing liquidity, and increasing costs. Recent events in global metals markets highlight the need to reduce regulatory barriers affecting supply. Existing vaults supporting exchanges have strong security standards and enhance market confidence. Adding more storage vaults would improve market liquidity and participant confidence. Lower-cost storage locations near precious metals activity hubs and transportation networks could reduce costs, enhance competition, and improve investor access. The section states it is in the public interest for financial market utilities to have a transparent process for selecting storage facilities.

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

This section amends Section 5b(c)(2) of the Commodity Exchange Act. It adds considerations related to the geographic concentration of precious metals depositories to existing risk assessments. It establishes requirements for systemically important derivatives clearing organizations to develop and publish objective criteria for selecting depositories for precious metals storage. These selection factors include geographic diversity, competition, risk management, and cost efficiency. Systemically important derivatives clearing organizations must select at least two depositories in each U.S. time zone (Eastern, Central, Mountain, and Pacific). The section also mandates periodic assessments of physical settlement ease for market participants, regardless of location. It outlines conditions for metal service providers, such as precious metals depositories, to apply for and receive approval from clearing organizations.

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SILVER Act

Last updated: 5/21/2026 · Introduced: 5/21/2026

Author: James Risch (R-ID)

TL;DR (AI)

The bill amends the Commodity Exchange Act to require derivatives clearing organizations to consider geographic concentration when assessing risks related to precious metals depositories.
It mandates that systemically important clearing organizations select at least two depositories in each U.S. time zone to promote geographic diversity and competition.
The bill requires clearing organizations to establish objective criteria for selecting depositories, focusing on factors like geographic diversity, risk management, and cost efficiency.

119th Congressin committeeHR. 8007(In Committee)Official page

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Other Sections

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

4 sections

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