{"database": "press", "table": "releases", "rows": [["https://www.britt.senate.gov/news/press-releases/u-s-senators-katie-britt-jerry-moran-colleagues-urge-financial-regulators-to-prioritize-agriculture-and-energy-producers-in-basel-iii-endgame-and-gsib-surcharge-proposals/", "U.S. Senators Katie Britt, Jerry Moran, Colleagues Urge Financial Regulators to Prioritize Agriculture and Energy Producers in Basel III Endgame and GSIB Surcharge Proposals", "2025-12-04", "2025", "2025-12", "Republican", "Senate", "AL", "Katie Boyd Britt", "B001319", "www.britt.senate.gov", "britt", "https://www.britt.senate.gov/media/press-releases/", "scraper", "WASHINGTON, D.C. \u2014 U.S. Senators Katie Britt (R-Ala.) and Jerry Moran (R-Kan.) joined colleagues in writing a letter urging the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to prioritize agriculture and energy producers as they re-evaluate the Basel III Endgame Proposal and the Global Systemically Important Bank (GSIB) Surcharge Proposal.\n\n\u201cAs you re-evaluate the proposals, it is important to consider the adverse effects of disincentivizing banks from offering hedging products to industries sensitive to price volatility in commodity markets such as grain, livestock, oil, fertilizer, and minerals,\u201d wrote the Senators. \u201cWe respectfully ask that you craft these rules in a manner that provides sufficient capacity, including in times of heightened volatility, for banks to offer products that allow stakeholders to properly hedge risk, thus providing businesses certainty and allowing downstream prices to remain stable for consumers.\u201d\n\nSenators Bill Hagerty (R-Tenn.), Tommy Tuberville (R-Ala.), John Boozman (R-Ark.), and Cindy Hyde-Smith (R-Miss.) also signed the letter. The full letter can be read here.\n\nThe letter is supported by the American Farm Bureau Federation, National Grain and Feed Association, National Milk Producers Federation, International Swaps and Derivatives Association, National Council of Farmers Cooperatives and Futures Industry Association.\n\nSenator Britt has been a vocal critic of the Basel III Endgame rulemaking issued under the Biden Administration, citing its potentially devastating impact on our Main Streets. Since 2023, she has emphasized that the originally proposed Basel III requirements could severely weaken the financial sector, putting American financial institutions, community banks, and small businesses at a disadvantage.\n\nShe also questioned Federal Reserve Chair Powell on the previous Basel III proposal, pointing out that the financial regulators had not considered the combined impacts of other concurrent proposals, while noting, the proposal would have had \u201ca detrimental effect to our agriculture community and increase other costs providing food and fiber to our nation.\u201d She emphasized that our agriculture industry is \u201cone in five jobs in the state of Alabama \u2013 it\u2019s 20% of our economy.\u201d\n\nLast month, Senator Britt joined Senate Banking Committee Chairman Tim Scott (R-S.C.), Senator Mike Rounds (R-S.D.), and nine of their colleagues in sending a letter to Jerome Powell, Chairman of the Federal Reserve Board of Governors, and Michelle Bowman, Vice Chair for Supervision, urging the Board to issue a revised final Basel III Endgame rulemaking.\n\nThe Senators\u2019 letter expresses support for the Board\u2019s work to finalize a new, revised rulemaking that \u201cstrengthens the resiliency of the U.S. financial system while preserving the efficiency and competitiveness of U.S. capital markets\u201d and highlights necessary considerations for the reproposed rule.\n\n###", 1, "2026-03-30T01:40:41Z", "2026-04-06T20:09:11Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.britt.senate.gov/news/press-releases/u-s-senators-katie-britt-jerry-moran-colleagues-urge-financial-regulators-to-prioritize-agriculture-and-energy-producers-in-basel-iii-endgame-and-gsib-surcharge-proposals/"], "units": {}, "query_ms": 2.4009160697460175, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}