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Event Q&A
Post-SVB Liquidity Rules Are Coming, But Don't Expect Clarity
In the wake of SVB’s collapse, liquidity regulation in the U.S. is under intense scrutiny. Delays in reform mask a shift toward tougher liquidity standards, greater reliance on central bank facilities, and a rethinking of what counts as a safe asset.
Jul 14, 2025
Shahab Khan, Head of Liquidity Policy, HSBC USA
Tags:
ALM, Treasury and Liquidity Risk
The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization
- SVB’s collapse accelerated regulatory focus on liquidity, but reform efforts were already underway
- Implementation
of reforms may be delayed under the new administration, but it remains a priority
- Regulators
may require more granular short-term liquidity metrics beyond current LCR
standards
- Debate
continues over whether Fed reserves should replace Treasuries as preferred
liquid assets
- Growing regulatory
encouragement to use the Fed’s discount window and FHLB facilities
- Supervisory
tone is softening slightly, with fewer enforcement actions in recent months
- Tailoring of
rules for institution size and complexity may return in upcoming proposals
- SLR reforms
could exclude Treasuries to ease market pressure and free balance sheet space
- Executive
orders have slowed new rule issuance but not stopped regulatory momentum
- Liquidity
frameworks must evolve now — clarity may come later, but readiness is urgent
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