H.R. 5602 — Introduced in House

I 118th CONGRESS 1st Session H. R. 5602 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. 1. Short title This Act may be cited as the Interest Rate Risk Reporting Act. 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. .