摩根大通：如果降低SLR，其后果将比市场预期更糟糕

Core Viewpoint - The report by JPMorgan strategists led by Ipek Ozil suggests that introducing a Supplementary Leverage Ratio (SLR) in the form of a reduction may lead to worse outcomes than the market anticipates, exerting bearish pressure on swap spreads [1] Group 1 - Strategists emphasize that reserves and U.S. Treasuries on dealer balance sheets should be excluded from SLR calculations [1] - Excluding these assets would allow banks to expand their balance sheets during times of stress [1] - The report takes into account the turmoil experienced by Silicon Valley Bank in 2023 and the challenges of managing long-term U.S. Treasury interest rate risk [1]