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Dealers' Treasury Market Intermediation and the Supplementary Leverage Ratio

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Treasury market intermediation by dealers, including Treasury securities market making and financing, requires regulatory capital. In particular, the six largest U.S. Treasury securities dealers are subsidiaries of large U.S. bank holding companies (BHCs), which are required to maintain a supplementary leverage ratio (SLR) of at least 5 percent at the BHC level.

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  • Paul Cochran & Sebastian Infante & Lubomir Petrasek & Zack Saravay & Mary Tian, 2023. "Dealers' Treasury Market Intermediation and the Supplementary Leverage Ratio," FEDS Notes 2023-08-03, Board of Governors of the Federal Reserve System (U.S.).
  • Handle: RePEc:fip:fedgfn:2023-08-03
    DOI: 10.17016/2380-7172.3341
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