Are carve-outs in national versions of the Leverage Ratio a good idea?

November 8, 2017

Basel III, Liquidity Management, Regulatory

carve-outs, Leverage Ratio, SLR, topstory

There has been discussion in recent months about the possibility of large carve-outs in the US Supplementary Leverage Ratio; this follows years of carve-outs in the European version of Basel…

Debating solutions to the US Supplementary Leverage Ratio problem (Premium)

November 1, 2017

Josh Galper

Basel III, Derivatives, Liquidity Management, US

SLR, Supplementary Leverage Ratio, topstory, US, US Treasury

No Comments

The US Supplementary Leverage Ratio (SLR) isn’t working very well, that much we know. As a non-risk based measurement of risk, it captures every asset with the same risk weighting…

US industry associations call for collateral revamp of SLR, overhaul or removal of NSFR (Premium)

May 31, 2017

Josh Galper

Basel III, Dodd-Frank, Regulatory, US

Dodd-Frank, Executive Order, IIF, Leverage Ratio, NSFR, SIFMA, SLR, topstory

No Comments

US industry associations have been writing US Treasury Secretary Steven Mnuchin with their requests for changes to US financial regulations. A common theme is that the US application of Basel…

Fed blog: Credit Market Arbitrage and Regulatory Leverage

January 11, 2017

Josh Galper

News and Notes

CDS, Fed, Leverage Ratio, SLR

No Comments

In a companion post, we examined the recent trends in arbitraged-based measures of liquidity in the cash bond and credit default swap (CDS) markets. In this post, we turn to the…

NY Fed President Dudley on Market Liquidity: It hasn’t really gone away

October 6, 2015

Jonathan Cooper

Basel III, Dodd-Frank, Featured, Federal Reserve, Fixed Income, Repo

corporate bond liquidity, High Frequency Trading, RWA, SLR, topstory, TRACE, US Treasury Liquidity

No Comments

The debate over market liquidity is pitting the Fed against the buy side, with the sell side dealers getting caught in the middle. The Fed argues things are not so…

Will the Fed push back against SLR?

March 25, 2014

Jonathan Cooper

Featured, Federal Reserve, Repo, Shadow Banking

Excess Reserves, HQLA, Quantitative Easing, SLR, Supplementary Leverage Ratio

No Comments

An article in the March 21st New York Times “New York Fed Chief Expresses Concern on New Leverage Rule” by Peter Eavis is worth looking at. The general topic was…

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SLR

Are carve-outs in national versions of the Leverage Ratio a good idea?

Debating solutions to the US Supplementary Leverage Ratio problem (Premium)

US industry associations call for collateral revamp of SLR, overhaul or removal of NSFR (Premium)

Fed blog: Credit Market Arbitrage and Regulatory Leverage

NY Fed President Dudley on Market Liquidity: It hasn’t really gone away

Will the Fed push back against SLR?

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