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Reserves in SLR

Summary:
Have to watch to see if banking lobby again approaches a now new GOP government with this regulatory modification request… last time in 2021 nutty Pocahontas led Dems wouldn’t agree with it so we’ve remained susceptible to  the financial asset volatility Art degree monetarists can cause when they “inject some pumped in money!” in their characterizing deranged way they think Accounting abstractions are REAL…I think UST should be in the SLR computation, although there might be some weighting of risk according to duration.O/N reserve balances definitely should be excluded, as done by BoE and currently ECB.— Kim Driver (@KimDriver11) May 5, 2023 If we can get this then there will be A LOT of reduction in realized volatility going forward while most participants will be still be paying the

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Have to watch to see if banking lobby again approaches a now new GOP government with this regulatory modification request… last time in 2021 nutty Pocahontas led Dems wouldn’t agree with it so we’ve remained susceptible to  the financial asset volatility Art degree monetarists can cause when they “inject some pumped in money!” in their characterizing deranged way they think Accounting abstractions are REAL…




If we can get this then there will be A LOT of reduction in realized volatility going forward while most participants will be still be paying the historic volatility prices…  

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Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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