# Congress Advances SILVER Act Standards

Bipartisan sponsors are seeking to include the SILVER Act (S. 4621 and H.R. 8007) in the National Defense Authorization Act during the lame-duck session. If enacted, the bill would require systemically important derivatives clearing organizations to use objective standards and transparent procedures when considering qualified precious-metals depositories across the continental United States. It would not guarantee approval for any facility or dictate where metals must be stored; this is a proposed statutory market-access change, not a federal contract solicitation.

- The proposed process could affect how qualified depositories seek consideration by systemically important clearing organizations; the bill does not specify that any particular facility must be selected.
- Precious-metals depositories and industry stakeholders can assess how their qualifications may be presented under an objective, transparent review process, while recognizing that enactment and facility approval are not assured.
- For procurement professionals, the development is relevant as a proposed change to financial-market access and oversight, rather than a new government purchasing opportunity.

**Jurisdictions:** federal
**Topics:** Policy
**Published:** November 12, 2026

### Government Entities
- U.S. Congress (Congress)
- Commodity Futures Trading Commission (CFTC)
- U.S. Department of the Treasury (Treasury)
- Financial Stability Oversight Council (FSOC)
- House Agriculture Committee

### Vendors
- Money Metals Depository ()
- Gold.com ()

### Key Quotes
> Congress has an opportunity through the National Defense Authorization Act to address a glaring vulnerability in our nation's financial infrastructure while promoting competition, reducing costs, and strengthening domestic supply chains.
> — Stefan Gleason, Chief Executive Officer of Money Metals Depository

> We have competing businesses from across the precious metals industry coming together behind the SILVER Act because these outdated geographic restrictions are driving up costs, limiting competition, and creating unnecessary risks for everyone throughout the country.
> — Steven Reiner, Executive Vice President of Gold.com

### Sources
- [Bipartisan SILVER Act Gains Strong Momentum in Congress as Lawmakers Eye National Defense Bill](https://www.financialcontent.com/article/accwirecq-2026-11-12-bipartisan-silver-act-gains-strong-momentum-in-congress-as-lawmakers-eye-national-defense-bill) - FinancialContent