[20210322]IF10208_流动性覆盖率和净稳定资金比率.pdf

https:/crsreports.congress.gov Updated March 22, 2021The Liquidity Coverage Ratio and the Net Stable Funding RatioIssue Overview Federal bank regulators have issued final rules implementing the liquidity coverage ratio (LCR) and the net stable funding ratio (NSFR) for large banks. This In Focus explains the rationale behind these liquidity rules and how they work. Liquidity What Is Liquidity? Liquidity is a term that can apply to assets, markets, or firms. An asset is liquid if it is easily bought and sold (i.e., converted into cash). Markets are liquid if there are many ready buyers and sellers. A firm is liquid if it holds liquid assets or has ample access to cash, and it is illiquid if it cannot sell (or borrow against) assets to raise cash. From a banks perspective, holding liquid assets helps ensure that it will reliably meet cash flow needs, which may be variable and unpredictable. The cost of holding liquid assets is that they have a lower expected rate of return than less liquid assets, holding other characteristics constant. If the primary function of banks is to transform deposits into loans, the broader impact of requiring banks to hold more liquid assets is that they w