Michael Faulkender, Deputy Secretary of the US Treasury, said officials are discussing a possible rule change targeting banks. With the drop in US Treasury yields last week, attention on the "Supplementary Leverage Ratio" (SLR) regulatory requirement has been increasing sharply. Concerns have been raised about a situation similar to the market crash in March 2020 following the largest drop in US Treasury yields in over twenty years. Any rule changes still require approval from the Federal Reserve and other regulatory agencies, although the chair of the regulatory committee responsible for US financial stability is appointed by the Treasury Secretary. Faulkender stated at an event, "We are researching this issue and have begun discussions."