To SLR Or Not To SLR

Published on March 8, 2021 by Free

There was much commotion last week on whether last April’s emergency SLR relief would be renewed before it’s expiration on March 31st. The “right” policy answer to this question is actually really easy, but politics matter as well. In this post I briefly explain what the SLR is, why a permanent exemption of reserves is the obvious policy answer (Treasuries are less clear), and the potential market impacts if the relief is not renewed.

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