联储拟降低美国大行资本充足率要求，或为美债带来更多国内买盘

Core Viewpoint - The Federal Reserve has proposed changes to the supplementary leverage ratio (SLR) for globally systemically important banks (GSIBs), aiming to reduce capital requirements and enhance liquidity in the U.S. Treasury market [1][2] Group 1: Regulatory Changes - The proposal is a 140-page discussion paper initiated by the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) [1] - The changes are seen as a reversal of the strong regulatory trend established after the 2008 financial crisis [1] - The proposal aims to adjust capital requirements for banks to ensure the enhanced supplementary leverage ratio (eSLR) functions effectively without unnecessarily limiting banks' lending capabilities [1] Group 2: Support and Opposition - Among the seven Federal Reserve governors, two opposed the proposal, while five, including Chairman Jerome Powell, supported it [2] - The current Vice Chair for Supervision, Michael Barr, stated that the proposal is a crucial step in balancing financial system stability with the resilience of the Treasury market [2] Group 3: Implementation Timeline - The proposal has a 60-day comment period, with no set timeline for implementation [2] - Goldman Sachs anticipates that the new regulations could be finalized 4-6 months after the comment period, potentially taking effect within 6-8 months [2]