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Subcommittee to Hold Hearing on Impact Regulation Has on Short-Term Financing

Washington, Sep 30 -

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) announced today that the Subcommittee on Capital Markets and Government Sponsored Enterprises intends to hold a hearing before the end of the year to examine how federal regulation is impacting short-term funding markets.

“It’s clear that Main Street is feeling the impact of the hundreds of new rules heaped upon our economy over the last few years.  This hearing will be an opportunity to look specifically at short-term financing markets, and the impact that the Volcker rule, Basel liquidity and capital rules, and the SEC’s money market fund regulations are having on Main Street businesses and municipalities in accessing the financial markets,” Subcommittee Chairman Scott Garett (R-NJ) said.

At the request of Committee members Rep. Steve Stivers (R-OH) and Rep. Keith Rothfus (R-PA), the hearing will also examine the impact of the SEC’s money market fund rule scheduled to go into effect on October 14, 2016.

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