# 119-s-4621: SILVER Act

119-s-4621, SILVER Act, is a 119th Congress bill sponsored by Sen. Risch, James E. [R-ID] (R-ID); status introduced; PRIA reads it as touching household money (as of 2026-07-31).

- Canonical: https://policyrisk.com/legislation/119-s-4621
- As of: 2026-07-31
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4621
- Congress: 119
- Title: SILVER Act
- Status: introduced
- Introduced: 2026-05-21
- Sponsor: Sen. Risch, James E. [R-ID] (R-ID)
- Cosponsors: 5
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-07-31

## Summary

**Diversify where precious metals are stored to reduce systemic risk.** This bill would require systemically important clearinghouses that handle physically deliverable metal futures to use objective, public criteria when choosing depositories and to weigh access, competition, costs, and risk in those choices. - Systemically important derivatives clearing organizations would have to publish transparent selection rules, run a formal application process for depositories, and explicitly consider risk management, storage costs, market access, and systemic implications when approving providers. - Depositories and other metal service providers would get a clear path to apply for approval and would be evaluated under new conditions that aim to ensure at least two approved depositories in each U.S. time zone (Eastern, Central, Mountain, Pacific). - Market participants that store or settle gold, silver, platinum, and palladium would see a legal push toward greater geographic diversity and competition, which the bill aims to improve liquidity, resiliency, and cost efficiency for physical settlement.

## Cosponsors (5)

- Sen. Cortez Masto, Catherine [D-NV] (D-NV), 2026-05-21T00:00:00.000Z
- Sen. Crapo, Mike [R-ID] (R-ID), 2026-06-24T00:00:00.000Z
- Sen. Rosen, Jacky [D-NV] (D-NV), 2026-06-24T00:00:00.000Z
- Sen. Budd, Ted [R-NC] (R-NC), 2026-07-23T00:00:00.000Z
- Sen. Lee, Mike [R-UT] (R-UT), 2026-07-29T00:00:00.000Z

## Provisions PRIA read

- New rules for precious metals depositories: mixed, low. If enacted, this bill would require systemically important clearing organizations that clear contracts able to deliver gold, silver, platinum, or palladium to set clear, public rules for picking storage depositories. They would have to publish objective selection criteria and a formal application p…

## Related bills

- 119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former United States Senator for the State of Kansas.
- 119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewellyn Kyl, former Senator for the State of Arizona.
- 119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham, a Senator from the State of South Carolina.
- 119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former Senator for the State of Michigan.
- 119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for the State of California.
- 119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States Senator for the State of Idaho.

## Sources
- [119-s-4621 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4621)

## Related
- [119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former Uni…](https://policyrisk.com/legislation/119-sres-913)
- [119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewel…](https://policyrisk.com/legislation/119-sres-897)
- [119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham,…](https://policyrisk.com/legislation/119-sres-801)
- [119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former S…](https://policyrisk.com/legislation/119-sres-755)
- [119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for…](https://policyrisk.com/legislation/119-sres-739)
- [119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States…](https://policyrisk.com/legislation/119-sres-723)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4621 (as of 2026-07-31).