Proposed Rulemaking out last month from the OCC, its taken like a year to come up with this proposal in response to the bank reform Act passed last year. Nothing like a sense of urgency...
Agencies Seek Comments on Revisions to the Supplementary Leverage Ratio as Required by Economic Growth, Regulatory Relief, and Consumer Protection Act https://t.co/MVezVBn0L2— OCC (@USOCC) April 19, 2019
Looks like weak tea anyway.
Probably not going to help much towards achieving legal mandate for stable prices; reads as if only 3 institutions qualify:
Based on data available at the time of the proposal, only The Bank of New York Mellon Corporation, Northern Trust Corporation, and State Street Corporation, together with their depository institution subsidiaries, would be considered predominantly engaged in custody, safekeeping, and asset servicing activities and therefore able to exclude deposits at central banks from their supplementary leverage ratio.
Continued chaos... looks like during the periods of high Reserve Asset fluctuation; denominator in depository system SLR still going to vary by 100s of $B.
Instability creates instability; except for morons...
