Crapo bill could end LCR limbo for three banks

US Bancorp, PNC and Capital One stand to benefit if House passes bill

Capitol Hill in Washington DC

The passage of a crucial banking bill by the House of Representatives could allow the US Federal Reserve to offer relief on the liquidity coverage ratio (LCR) it has planned for three banks that are large, but not deemed systemically important.

“You don’t want to go through this process working in the context of one set of statutory constraints and then find yourself in another set of statutory constraints, having to start all over,” says Oliver Ireland, a partner at law firm Morrison & Foerste

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