Repo exposures fell at BofA, surged at JP Morgan in Q4

Bank of America slashed repo exposures over the last three months of 2020 by almost 30%, which helped lift its supplementary leverage ratio (SLR) to 7.2%, up from 6.9% at end-September.

The bank said this was a function of it moving excess cash into securities. Fourth quarter repo exposures, at $292.8 billion, were at their lowest since Q4 2018. All other components of BofA’s leverage exposure – on-balance sheet assets, derivatives exposures, and off-balance sheet exposures – climbed quarter on