The U.S. LCR fills this gap by imposing a regulatory charge on maturity mismatch within the 30-day period.14 Second, because the Basel LCR and the NSFR each calculate the liquidity position of a firm on a fully consolidated basis, neither adequately addresses the risk that stress could occur in one part of the organization while the liquidity needed to deal with that stress is trapped in another.
In the U.S. LCR, a holding company may include in its consolidated liquidity buffer only qualifying assets held by a subsidiary U.S. bank that are in excess of the amount of the projected net cash outflows of the subsidiary bank and that can be transferred to the holding company without statutory, regulatory, supervisory, or contractual restrictions.