[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5602 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 5602

 To amend the Federal Reserve Act to require the Chairman of the Board 
 to address interest rate risk when appearing at semi-annual hearings 
                          before the Congress.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 20, 2023

  Mr. Ogles introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Federal Reserve Act to require the Chairman of the Board 
 to address interest rate risk when appearing at semi-annual hearings 
                          before the Congress.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Interest Rate Risk Reporting Act''.

SEC. 2. REQUIRED ANALYSIS ON INTEREST RATE RISK.

    Section 2B(a)(1) of the Federal Reserve Act (12 U.S.C. 225a(a) is 
amended--
            (1) in subparagraph (A), by striking ``and'' at the end and 
        inserting a semicolon;
            (2) in subparagraph (B), by striking the period at the end 
        and inserting ``; and''; and
            (3) by adding at the end the following:
                    ``(C) an analysis of--
                            ``(i) the vulnerability of the United 
                        States financial system to interest rate risk 
                        and any risks to the United States financial 
                        system associated with such interest rate risk; 
                        and
                            ``(ii) the overall exposure to interest 
                        rate risk of the portfolio of assets held by 
                        the Board and the Federal Reserve banks at the 
                        time of the analysis.''.
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