Major adjustments have been made to US financial regulation in 2025. In June, the FDIC proposed an enhanced supplementary leverage ratio (eSLR) reform plan targeting global systemically important banks (GSIBs) and their subsidiaries, which was officially finalized in November.

The core changes are mainly reflected in two aspects. First, the eSLR standards for bank subsidiaries have been significantly revised—from the original system to 50% of the parent company's GSIB method 1 capital surcharge, with a 1% cap set. Second, the leverage ratio standard has been lowered from 6%, which will have profound impacts on the capital allocation of the entire banking system.

According to estimates, after the implementation of this new regulation, the Tier 1 capital of holding companies is expected to decrease by approximately $13 billion. This figure reflects the extent of the reshaping of the capital structure of large US banks under the new policy, which will inevitably affect banks' risk-bearing capacity and market liquidity deployment. For investors concerned with the global financial environment, this is a policy signal worth monitoring.