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Commodity Exchanges, Energy, and Credit (117th Congress)

Conaway: Re-Proposed Rule on Speculative Position Limits Shows Promise

| Posted in Press Releases

Washington, DC — Thursday, the Commodity Futures Trading Commission (CFTC) voted to approve a proposed rule on speculative position limits in futures and derivatives markets. Following the Commission's meeting, House Agriculture Committee Ranking Member K. Michael Conaway (TX-11) released this statement: “I appreciate the hard work that Chairman Tarbert, his fellow commissioners, and the Commissio...

Opening Statement: Ranking Member Austin Scott - Subcommittee on Commodity Exchanges, Energy, and Credit Public Hearing: “Review of Credit Conditions: Report from Agricultural Lenders”

| Posted in Opening Statements

Remarks as prepared for delivery: Chairman Scott, thank you for calling today’s hearing, allowing the subcommittee to continue its review of credit conditions in rural America. Last month, we had the opportunity to hear from the Farm Credit Administration to review the safety and soundness of the Farm Credit System. We heard that farm debt is forecast to climb to near all-time highs, reminiscent o...

Scott: Continued Oversight of Credit Conditions Important to Rural America

| Posted in Press Releases

Washington, D.C. – Today, the House Agriculture Committee’s Commodity Exchanges, Energy and Credit Subcommittee held a hearing to review credit conditions from the perspective of agricultural lenders. After the hearing, Subcommittee Ranking Member Austin Scott (GA-8) released the following remarks: “Today’s hearing was an important continuation of our committee’s work reviewing credit conditions i...

Opening Statement: Ranking Member Austin Scott - Subcommittee on Commodity Exchanges, Energy, and Credit Public Hearing: “Review of Credit Conditions: Report from the Farm Credit Administration (FCA)"

| Posted in Opening Statements

Remarks as prepared for delivery: Good morning. Thank you, Chairman Scott for holding today’s hearing. Our Committee has an obligation to proactively review the Farm Credit System to ensure its soundness. To help us do that today, we have brought representatives of the Farm Credit Administration, the independent agency tasked with regulating the Farm Credit Institutions, to ensure they fulfill the...

Scott, Conaway: Farm Credit System Critical to America’s Farmers and Ranchers

| Posted in Press Releases

Washington, D.C. – Today, the House Agriculture Committee’s Commodity Exchanges, Energy and Credit Subcommittee held a hearing to receive an update on credit conditions from the Farm Credit Administration. After the hearing, Subcommittee Ranking Member Austin Scott (GA-8) and Committee Ranking Member K. Michael Conaway (TX-11) released the following remarks: “With net farm income struggling, it’s ...

Opening Statement: Ranking Member Mike Conaway Subcommittee on Commodity Exchanges, Energy, and Credit Public Hearing: “Building Opportunity in Rural America through Affordable, Reliable and High-Speed Broadband"

| Posted in Opening Statements

Remarks as prepared for delivery: Mr. Chairman, thank you for scheduling this hearing. It is an important topic, and one that has been top of mind for our members for a long time. As the Ranking Member noted in his opening statement, broadband access is not about convenience, it’s about being able to participate in modern life and the economy, which is rapidly moving onto the Internet. For those w...

Opening Statement: Ranking Member Austin Scott Subcommittee on Commodity Exchanges, Energy, and Credit Public Hearing: “Building Opportunity in Rural America through Affordable, Reliable and High-Speed Broadband"

| Posted in Opening Statements

Remarks as prepared for delivery: Thank you, Chairman Scott, for holding this important hearing on a subject that resonates with all Americans: Rural Broadband. And thank you to our distinguished witnesses that are here today to discuss how affordable, reliable, and high-speed broadband can bring our communities into the 21st century. More than 24 million Americans who live in rural communities do...

Opening Statement: Ranking Member Mike Conaway Subcommittee on Commodity Exchanges, Energy, and Credit Public Hearing: “Brexit and Other International Developments Affecting U.S. Derivatives Markets"

| Posted in Opening Statements

Remarks as prepared for delivery: Mr. Chairman, I know that you remember the hearing that we conducted in 2012 on this same topic. It was a good and informative hearing and I expect that today’s hearing will build on that work. I was looking though the transcript of that hearing in the preparation for today, and I’d like to share some words of wisdom submitted by Chairman Steven Maijoor, who was t...

Opening Statement: Ranking Member Austin Scott Subcommittee on Commodity Exchanges, Energy, and Credit Public Hearing: “Brexit and Other International Developments Affecting U.S. Derivatives Markets"

| Posted in Opening Statements

Remarks as prepared for delivery: Mr. Chairman, thank you for convening this hearing. You and I share a deep concern over the potential absence of international harmonization work between the CFTC and their global counterparts. The main focus of today’s hearing is on the impact of Brexit in US derivatives markets. But, we cannot talk about that without discussing the European Commission’s potentia...

Scott, Conaway Underscore Importance of 2016 Equivalence Agreement, Call for Improved International Regulatory Coordination

| Posted in Press Releases

Washington, D.C. – Today, the House Agriculture Subcommittee on Commodity Exchanges, Energy and Credit held a hearing on how Brexit and other international developments affect U.S. derivatives markets. After the hearing, Subcommittee Ranking Member Austin Scott (GA-8) and Committee Ranking Member K. Michael Conaway (TX-11) made the following remarks: “Today’s hearing underscored the importance of ...

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