Workflow
ETO Markets 外汇:美联储Bowman质疑银行杠杆率规定的合理性?
Sou Hu Cai Jing·2025-06-24 10:06

Group 1 - The core viewpoint is that the current leverage ratio regulation may be inhibiting banks' roles as market makers, impacting the $29 trillion U.S. Treasury market [1][3] - Michelle Bowman's public questioning of existing leverage ratio regulations highlights potential adverse effects of U.S. regulatory policies on market efficiency [3][4] - The discussion around leverage ratios is particularly relevant as the Federal Reserve considers potential interest rate cuts, raising concerns about banks' ability to participate actively in the market [4] Group 2 - The leverage ratio was initially designed to prevent excessive asset inflation in banks, but it has begun to restrict normal trading activities, especially after the Fed's significant balance sheet expansion [3] - Bowman's remarks suggest that regulatory policies need to adapt to changing market structures and macroeconomic conditions, indicating a possible future revision of capital regulations [3][4] - The potential for regulatory adjustments may include introducing risk-adjusted mechanisms or temporary exemptions for Treasury assets to enhance market maker participation and resilience [4]