HQLAs slide to multi-year lows at largest US regionals

Drops make US Bancorp, PNC and Truist ever more dependent on reduced LCR

Easy-to-sell assets at some of the US’s largest regional banks fell to the lowest in a year or more at end-September, thinning out their liquidity coverage ratios (LCRs) and making them more dependent on the US Federal Reserve’s tailored requirements.

US Bancorp’s average balance of high-quality liquid assets (HQLAs), the LCR’s numerator, dropped by 21% to $114.3 billion during the quarter, the lowest since Q4 2021.

At PNC Bank and Truist, HQLA reserves slipped 1% to $93.6 billion and $83.8

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