SILVER Act
Sponsored By: Representative Fulcher
Introduced
Summary
Geographic diversity of precious metals depositories to reduce systemic risk. This bill would require derivatives clearing organizations to formally approve and diversify storage sites for gold, silver, platinum, and palladium using clear, public criteria to boost resilience and competition.
Show full summary
- Market participants and traders would get more resilient physical settlement and better access to stored metals by reducing concentration of storage locations.
- Depositories and other metal service providers would face a formal application and approval process that weighs geographic diversity, competition, risk management, storage costs, and a public-interest standard.
- Derivatives clearing organizations would have to use objective selection criteria and select at least two approved depositories in each U.S. time zone to support liquidity, market access, and cost efficiency.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New rules for precious metal depositories
If enacted, this bill would require derivatives clearing organizations to use clear, published rules to pick depositories that store precious metals for futures contracts. Precious metals are defined as gold, silver, platinum, and palladium. The bill would require a formal application process, objective selection factors (including geographic diversity, competition, risk management, storage costs, and systemic risk), and a public‑interest approval test. It would also require at least two qualifying depositories in each U.S. time zone and periodic assessments of ease of access for physical settlement. Depositories and clearing members would face new approval and compliance steps that could raise their costs, which might be passed to market participants.
Sponsors & CoSponsors
Sponsor
Fulcher
ID • R
Cosponsors
Harris (NC)
NC • R
Sponsored 3/19/2026
Roll Call Votes
No roll call votes available for this bill.
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