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. .