Fed spares US Bancorp tighter liquidity straitjacket

Having committed to category II standards by end-2024, bank risked incurring LCR shortfall

US Bancorp’s liquidity coverage ratio (LCR) slipped to its lowest in four years in the third quarter, putting the bank on track to breach its minimum requirements had US regulators not granted it a reprieve from tighter prudential standards.

The bank’s LCR fell from 116.9% at the end of June to 109.9% at end-September, the lowest since the US Federal Reserve relaxed capital and liquidity rules through its 2019 tailoring rule.

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