US G-Sibs curb reliance on unsecured debt
Citi cuts outflows related to issued securities 68% year-on-year
Top US banks have weaned themselves off unsecured debt as a source of funding, liquidity coverage ratio (LCR) disclosures show.
The eight US global systemically important banks’ projected weighted cash outflows from unsecured debt – including all notes, bonds and other securities issued by the lenders – to be $32 billion in the first quarter of this year. That is 31% lower than estimated a year ago, and 34% lower than reported as of Q2 2017, when LCR disclosures first began.
The weighted cash
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