HR 8153
Bank Risk Reduction Act of 2024
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Bill overview
The Bank Risk Reduction Act of 2024 modifies the Wall Street Transparency and Accountability Act of 2010 to provide certain exemptions for covered banking institutions related to interest rate swaps. Specifically, it allows these institutions to avoid some clearing and margin requirements when using swaps to hedge interest rate risk on their debt securities and loans. The bill also permits the use of hedge accounting and clarifies rules regarding fair value designation for certain hedging strategies. It aims to reduce regulatory burdens while maintaining financial stability.
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Primary sponsor
Alexander X. Mooney
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