By NC West Virginia News |
May 6, 2024
WASHINGTON, DC – Rep. Alex X. Mooney has introduced H.R. 8153, the Bank Risk Reduction Act, aimed at eliminating regulations hindering bank risk management and creating systemic risk. The legislation specifically targets Dodd-Frank’s mandatory margin requirements concerning interest rate swaps used for hedging against interest rate risk in bank assets.The need for such legislation arose from bank failures in early 2023 attributed to poorly managed interest rate risk. Rep. Mooney emphasized the negative impact of current regulations, stating, “Unfortunately, current...