Letter to Congress: AFR Opposes HR 2209 and HR 3857
“…we are writing to express our opposition to HR 2209 and HR 3857. HR 3857 is a poorly drafted message bill that contains an overly vague mandate to the Federal Reserve and FSOC that would be difficult to interpret and could increase financial risk. HR 2209 mandates that banking regulators classify investment grade, readily marketable municipal debt obligations as level 2A liquid assets under the Liquidity Coverage Ratio (LCR) rule, the strongest liquidity category under the rule outside of cash and government debt.”