Bill · S. 4621· Senate(119-S-4621)
SILVER Act
- Introduced
- 5/21/2026
- Last activity
- 5/21/2026 — Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- Sponsored by
- James Risch
- Cosponsors
- - 3 - 2
- Introduced
- In Committee
What this bill would do
The SILVER Act aims to amend the Commodity Exchange Act to change how precious metals are stored. It seeks to reduce systemic risk by moving away from the current requirement that metals be stored near New York City. The bill requires systemically important derivatives clearing organizations to develop transparent criteria for selecting metal depositories. It mandates that these organizations select at least two depositories in each major U.S. time zone. Additionally, the act focuses on increasing competition, liquidity, and market access through geographic diversity.
Yes· 3 of 6
Is this likely to grow the economy?+3
The bill seeks to increase market liquidity and competition in the precious metals markets.
Does this invest in rural communities?+3
The mandate to include depositories in all major U.S. time zones promotes economic activity outside of the highly concentrated New York region.
Does this make what the government does easier for the public to see?+3
The bill requires clearing organizations to develop and publish objective and transparent criteria for selecting depositories.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Reduced Systemic Risk: By requiring geographic diversity in storage, the bill seeks to reduce vulnerabilities caused by concentrating precious metals in one specific area (Section 2).
-
Lower Costs: The bill aims to reduce storage costs for market participants by utilizing lower-cost markets and increasing competition in the storage marketplace (Section 2 and Section 3).
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Increased Market Access and Liquidity: The provisions are intended to enhance market liquidity and provide greater market access to investors by increasing the number of available storage vaults (Section 2 and Section 3).
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Improved Resiliency: By requiring multiple depositories across Eastern, Central, Mountain, and Pacific time zones, the bill seeks to increase market resiliency (Section 3).
Potential Negative Impacts for People
-
Increased Regulatory Burdens: The bill requires systemically important derivatives clearing organizations to develop, publish, and employ new objective and transparent criteria for evaluating and selecting depositories (Section 3).
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New Compliance Requirements: Systemically important derivatives clearing organizations will be required to provide a formal process for depositories to apply for selection and must periodically assess ease of access for physical settlement (Section 3).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Improves Economic Growth+3Improves Consumer Protection+2
- Demographic And Interest Groups
- Good For High Income Households+2Good For Urban Residents+2
- Environment Energy And Infrastructure
- Improves Rural Development+3
- Governance And Ideology
- Improves Government Transparency+3
- 7/29/2026
- 1 Cosponsor added.
- 7/23/2026
- 1 Cosponsor added.
- 6/24/2026
- 2 Cosponsors added.
- 5/21/2026
- Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Ted BuddRepublican · North Carolina
Mike CrapoRepublican · Idaho
Catherine Cortez MastoDemocrat · Nevada
Mike LeeRepublican · Utah
Jacky RosenDemocrat · Nevada