Randal Quarles, US Federal Reserve
The US Federal Reserve will seek to calibrate a key Basel liquidity ratio to avoid putting pressure on US Treasury cash and repo markets, vice-chair for supervision Randal Quarles has indicated. Speaking at an event on September 23, Quarles said the net stable funding ratio (NSFR) would be separated from other elements of Basel III that have yet to be implemented in the US and fast-tracked after a long delay.
The Fed originally proposed the NSFR in 2016 with a set of calibrations that were very
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