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Lawmakers press Fed on SLR reform as tool to improve Treasury market intermediation
Summary
House members pressed Chairman Powell to advance changes to the supplementary leverage ratio and related rules to improve banks' ability to intermediate Treasury markets; Powell said a proposal for public comment will be released and asked stakeholders to weigh alternative approaches including treatment of Treasuries.
Several members of the House Financial Services Committee used Chairman Powell's testimony to press the Federal Reserve on reforms to the supplementary leverage ratio (SLR) and related measures they say constrain banks' ability to intermediate in Treasury markets.
Lawmakers including the chair of the committee's housing and insurance subcommittee and the chair of the task force on monetary policy urged the Fed to finalize changes to avoid a repeat of last year's episodes of…
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