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The Board invites comment on an interim final rule that amends the liquidity coverage ratio (LCR) rule to treat liquid and readily marketable, investment grade municipal obligations as high-quality liquid assets (HQLA). Section 403 of the Economic Growth, Regulatory Relief, and Consumer Protection Act amends section 18 of the Federal Deposit Insurance Act and requires the agencies, for purposes of their LCR rule and any other regulation that incorporates a definition of the term "high-quality liquid asset" or another substantially similar term, to treat a municipal obligation as HQLA (that is a level 2B liquid asset) if that obligation is, as of the LCR calculation date, "liquid and readily-marketable" and "investment grade."
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