For example, the BCBS is currently considering a proposal that would set a G-SIB’s SLR surcharge at a level that is proportional to the G-SIB’s risk-based capital surcharge. Taking this approach in the U.S. context could help to reduce the cost that the largest banks face in offering clearing services to their customers. 3  The Federal Reserve is also considering other steps.
First, we are developing an interpretation of our rules in connection with the movement of some centrally cleared derivatives to a “settled-to-market” approach. Under this approach, daily variation margin is treated as a settlement payment rather than as posting collateral. Under our capital rules, this approach reduces the need for a bank to hold capital against these exposures under risk-based and supplementary leverage ratios.