119 STAT. 172
PUBLIC LAW 109–8—APR. 20, 2005 ‘‘(B) does not include a repurchase obligation under a participation in a commercial mortgage loan;’’; (D) in paragraph (48), by inserting ‘‘, or exempt from such registration under such section pursuant to an order of the Securities and Exchange Commission,’’ after ‘‘1934’’; and (E) by amending paragraph (53B) to read as follows: ‘‘(53B) ‘swap agreement’— ‘‘(A) means— ‘‘(i) any agreement, including the terms and conditions incorporated by reference in such agreement, which is— ‘‘(I) an interest rate swap, option, future, or forward agreement, including a rate floor, rate cap, rate collar, cross-currency rate swap, and basis swap; ‘‘(II) a spot, same day-tomorrow, tomorrownext, forward, or other foreign exchange or precious metals agreement; ‘‘(III) a currency swap, option, future, or forward agreement; ‘‘(IV) an equity index or equity swap, option, future, or forward agreement; ‘‘(V) a debt index or debt swap, option, future, or forward agreement; ‘‘(VI) a total return, credit spread or credit swap, option, future, or forward agreement; ‘‘(VII) a commodity index or a commodity swap, option, future, or forward agreement; or ‘‘(VIII) a weather swap, weather derivative, or weather option; ‘‘(ii) any agreement or transaction that is similar to any other agreement or transaction referred to in this paragraph and that— ‘‘(I) is of a type that has been, is presently, or in the future becomes, the subject of recurrent dealings in the swap markets (including terms and conditions incorporated by reference therein); and ‘‘(II) is a forward, swap, future, or option on one or more rates, currencies, commodities, equity securities, or other equity instruments, debt securities or other debt instruments, quantitative measures associated with an occurrence, extent of an occurrence, or contingency associated with a financial, commercial, or economic consequence, or economic or financial indices or measures of economic or financial risk or value; ‘‘(iii) any combination of agreements or transactions referred to in this subparagraph; ‘‘(iv) any option to enter into an agreement or transaction referred to in this subparagraph; ‘‘(v) a master agreement that provides for an agreement or transaction referred to in clause (i), (ii), (iii), or (iv), together with all supplements to any such master agreement, and without regard to whether the
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