Illiquid trading assets drop at big US banks in Q4 2018
Non-HQLA securities fell $146 billion in aggregate
Large US dealers posted a $146 billion (14%) reduction in less liquid trading and available-for-sale (AFS) assets in the last quarter of 2018.
Securities that do not qualify as high-quality liquid assets (HQLA) – such as non-investment-grade corporate bonds, mid- and small-cap equities, private-label mortgage-backed securities (MBS) and structured products – dropped to $906.8 billion at end-2018, from $1.05 trillion three months prior, in aggregate at the eight US global systemically important
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