Quarles calls for SLR ‘recalibration’ to support Treasuries

Former vice-chair says leverage ratio gold plate was based on flawed projections of Fed reserves

Randal Quarles
Photo: US Federal Reserve

Randal Quarles has joined the chorus of current and former US Federal Reserve and Treasury officials calling for the Fed to ease up on leverage capital requirements to help smooth the functioning of the market for US Treasuries.

The former vice-chairman of banking supervision at the Fed said that the temporary easing of the supplementary leverage ratio (SLR), which was implemented at the start of the Covid pandemic, should be made permanent, in order to enable banks to perform their critical

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