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Regulators Finalize Liquidity Rules For Big Banks

Law360, Washington (September 3, 2014, 1:34 PM EDT) -- Federal banking regulators on Wednesday finalized their rule requiring the largest U.S. banks to hold enough liquid assets to survive a major financial shock, easing some requirements in response to comments from industry.

The rule, approved effectively unchanged from a draft version released early Wednesday after separate meetings by the Federal Reserve Board of Governors and Federal Deposit Insurance Corp., implements the so-called liquidity coverage ratio, or LCR, requiring banks to hold enough easily convertible, high-quality liquid assets, or HQLA, such as treasury notes and certain high-quality corporate debt and equity, to cover their cash needs for 30 days in case a...

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