To amend the Wall Street Transparency and Accountability Act of 2010 to provide covered banking institutions with certain exemptions related to interest rate swaps, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Wall Street Transparency and Accountability Act of 2010 to provide covered banking institutions with certain exemptions related to interest rate swaps, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Defense, Transportation.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H79CF256BC3C049BFA9C731AFB3BFAA4E: 1. Short title This Act may be cited as the Bank Risk Reduction Act of 2024.
- Section HEEAD63F28746413981C8AD2CA855A944: 2. Exemptions for certain interest rate swaps of covered banking institutions The Wall Street Transparency and Accountability Act of 2010 (12 U.S.C. 8301 et...
- Section H8F2CBB37F946407881A9EAB5079D4858: 755. Exemptions for certain interest rate swaps of covered banking institutions A covered banking institution— shall be exempt from any clearing or margin...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Wall Street Transparency and Accountability Act of 2010 to provide covered banking institutions with certain exemptions related to interest rate swaps, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Defense, Transportation
Primary Purpose
This bill, To amend the Wall Street Transparency and Accountability Act of 2010 to provide covered banking institutions with certain exemptions related to interest rate swaps, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Mooney (for himself, Mr. Donalds, and Mr. Ogles) introduced …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology