Statement by Senator Warren on Fed Proposal on Enhanced Supplementary Leverage Ratio
Washington, DC – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement on the Federal Reserve Board of Governors’ proposal to lower the enhanced supplementary leverage ratio, which would reduce capital requirements at global systemically important banks by $210 billion, or 27%:
“At a time when President Trump’s agenda is sowing economic chaos and uncertainty, the last thing we should be doing is granting Wall Street’s number one deregulatory wish by weakening a rule that helps prevent megabank failures, taxpayer bailouts, and economic devastation. The enhanced supplementary leverage ratio promotes lending and ensures that big bank shareholders have more of their own skin in the game to absorb losses when their risky bets blow up. Claims that this policy helps the Treasury market are just misdirection—it’s clear the biggest threat to the Treasury market right now is Donald Trump.”
##
Previous Article