SILVER Act

The SILVER Act requires major financial organizations that clear precious metals contracts to expand their storage networks beyond the current concentration near New York City. To achieve this, the law mandates that these organizations develop transparent rules for selecting new storage facilities and must approve at least two depositories in each of the four U.S. time zones. These new facilities must meet strict security standards while offering benefits such as lower costs, increased competition, and improved market access for investors. Additionally, the bill requires these organizations to regularly evaluate how easily market participants can access physical metals regardless of location.