SIFMA Statement on SLR Reform Final Rule

Washington, D.C., November 25, 2025 – SIFMA released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the final rule reforming supplemental leverage ratio (SLR) rules:

“SIFMA strongly supports restoring the eSLR to its proper role as a backstop to risk-based capital requirements and mitigating limitations on the ability of banking organizations to intermediate in U.S. Treasury markets. This is particularly pressing given the impending industry move to mandatory clearing for U.S. Treasuries. We commend the Agencies for the focus on the issue.

“We encourage the Agencies to consider revisions to Tier 1 leverage ratio requirements in future rulemaking as part of a broader review of the U.S. regulatory capital and leverage framework and the negative effects of the Tier 1 leverage ratio on U.S. Treasury market intermediation.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy, affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.