Rounds Statement on HQLA Interim Final Rule

WASHINGTON - U.S. Sen. Mike Rounds (R-S.D.), a member of the Senate Banking Committee, today issued the following statement after the announcement of the interim final rule regarding the treatment of certain municipal securities as high-quality liquid assets (HQLA) by the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency:

“The ability to access capital is critically important for communities across South Dakota and throughout the United States. I’m pleased that our nation’s three main regulators took this important step forward to implement my legislation that would require our regulators to treat financially-sound municipal debt as level 2B high-quality liquid assets.”

“I look forward to continue working with our regulators on implementing this and other provisions that were a part of the Senate’s Economic Growth, Regulatory Relief and Consumer Protection Act. Rolling back regulatory overreach and helping communities, individuals and businesses access capital is critically important for the health of our economy.”

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