Core Viewpoint - The Federal Reserve announced plans to relax a key capital regulation, the enhanced supplementary leverage ratio (eSLR), which has been criticized by large banks for limiting their ability to hold more U.S. Treasury securities and act as intermediaries in the $29 trillion market [1][2] Group 1: Regulatory Changes - The proposed changes will lower the capital requirements for bank holding companies from 5% to a range of 3.5% to 4.5%, and for their bank subsidiaries from 6% to the same range [1] - The proposal aims to enhance the resilience of the U.S. Treasury market and reduce the likelihood of market dysfunction, as well as the need for Federal Reserve intervention during future stress events [1][2] Group 2: Industry Reactions - The proposal is seen as a partial victory for banks, which have called for the exclusion of U.S. Treasury securities from eSLR calculations [1] - Critics, including former Treasury officials, question whether relaxing the eSLR will actually encourage banks to purchase more Treasury securities [2] Group 3: Broader Implications - The changes come amid concerns about the resilience of the U.S. Treasury market, especially in light of potential future stress events [3] - Federal Reserve Chairman Jerome Powell supports revising the SLR standards to strengthen banks' roles as intermediaries in the Treasury market [3]

一位负责审查美联储货币政策的共和党议员希望美国国会可以隔离美联储免受政治影响（包括来自美国 总统特朗普的影响）来帮助稳定金融市场。 在特朗普攻击美联储主席鲍威尔引发数日市场动荡后，众议员Frank Lucas表示，特朗普本周明确表态无 意解雇这位美联储主席，最终做出了正确的决定。 负责货币政策、美国国债市场韧性及经济繁荣的众议院金融服务特别工作组主席Lucas说："总统做出了 一个明智的决定。" 这位俄克拉荷马州共和党人在接受采访时表示："在全球范围内，关税、冲突以及正在发生的一切事情 已经很多了，我们不需要金融行业再增加任何不确定性了，我们不需要市场再增加任何不确定性了，总 统做出了正确的决定。" Lucas表示，随着国会下周结束春假返回，他希望他的14人特别工作组能确定能够巩固美联储独立性、 增强美国国债市场流动性并赢得足够多的民主党支持以在众议院和参议院获得通过的政策倡议。 Lucas说：，"它不是一家政府拥有的银行，它由银行拥有。总统提名经参议院确认的理事和董事会成 员，但他们是独立的。" Lucas在与他俄克拉荷马州西北部选民的交流中表示，"他（特朗普）正在操纵、拉扯、推搡、出拳、挥 舞。"因此，包 ...