{"database": "press", "table": "releases", "rows": [["https://www.hydesmith.senate.gov/prudential-regulation-republican-senators-stress-need-tailoring-basel-iii-gsib-surcharge-proposals", "PRUDENTIAL REGULATION\u2014Republican senators stress need for tailoring of Basel III, GSIB Surcharge proposals", "2025-12-03", "2025", "2025-12", "Republican", "Senate", "MS", "Cindy Hyde-Smith", "H001079", "www.hydesmith.senate.gov", "hydesmith", "https://www.hydesmith.senate.gov/newsroom", "scraper", "By Colleen M. Svelnis, J.D.\n\nThe senators asked the regulatory agencies to reevaluate its proposals with an approach that takes into consideration the farmers, ranchers, and energy producers that utilize derivatives markets to hedge risk.\n\nA group of Republican senators have sent a letter to the heads of the federal banking agency regarding the agencies\u2019 approach to the Basel III Endgame Proposal and the GSIB Surcharge Proposal. The lawmakers wrote that they are \u201cencouraged\u201d by the agencies\u2019 approach to \u201cemphasize safety and soundness without burdensome restrictions that hamper economic growth.\u201d The letter\u2014which was sent to Federal Reserve Board Vice Chair for Supervision Michele Bowman, Comptroller of the Currency Jonathan Gould, and Acting Chairman of the Federal Deposit Insurance Corporation Travis Hill\u2014discusses the need for a tailored approach that takes into consideration the farmers, ranchers, and energy producers that utilize derivatives markets to hedge risk.\n\nThe letter was signed by Sens. Jerry Moran (R-Kan.), Bill Haggerty (R-Tenn.), Tommy Tuberville (R-Ala.), John Boozman (R-Ark.), Cindy Hyde-Smith (R-Miss.), and Katie Boyd Britt (R-Ala.).\n\nThe Senators state that in the original proposal curtailing critical risk management tools for end-users in the original proposals was a \u201cmisguided approach, as these markets play a crucial role in stabilizing prices, giving businesses greater certainty, and insulating consumers from price swings.\u201d They stress that parts of the original proposals, such as the credit valuation adjustment charge (CVA) for client clearing and the public listing requirement, \u201cwould make it more expensive for entities like farmer cooperatives to use derivatives markets.\u201d\n\nThe Senators close the letter by stressing that the bank capital proposals as originally drafted \u201cwould have had broad impacts on the ability of agriculture and energy producers to manage volatile commodity markets.\u201d Moving forward, the legislators are asking the regulators to reevaluate the proposals and consider \u201cthe 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 The lawmakers contend that the rules would also increase regulatory capital charges for banks that provide end-users with access to hedging markets.", 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.hydesmith.senate.gov/prudential-regulation-republican-senators-stress-need-tailoring-basel-iii-gsib-surcharge-proposals"], "units": {}, "query_ms": 2.074342919513583, "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"}