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Ranking Member McHenry Applauds Move to Right-size Margin Requirement

Washington, Sep 18 -

WASHINGTON – The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement after regulators announced a proposal to amend burdensome inter-affiliate margin requirements:

“Republicans have made commonsense regulatory reform a cornerstone of our efforts to spur economic growth and competition. There has been bipartisan agreement, including from a Commodity Futures Trading Commission (CFTC) Chairman appointed by President Obama, that the inter-affiliate margin requirements are too stringent and hamstring financial transactions. This change would free-up $40 billion in cash that could be deployed into our booming economy and ensure job creators of all sizes have the tools they need to help manage risk.

“This announcement does not lead to the elimination of all margin requirements but is a positive step toward rightsizing. I appreciate the Administration’s commitment to providing relief from a one-size-fits-all government mandate and, most importantly, lowering prices for everyday end-users.”