Custodians eye leverage savings of more than $200bn via new SLR

Custody giants BNY Mellon, State Street and Northern Trust could see their total leverage exposures fall by more than $200 billion under a proposed revision to the supplementary leverage ratio (SLR). 

Federal agencies published a proposal to modify the capital requirement for banks involved in custody, safekeeping and asset-servicing activities on March 29. This would allow eligible holding companies and insured depository institutions (IDIs) to exempt central bank deposits from their leverage

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