According to online reports, Arthur Hayes posted that U.S. banking regulators have begun to take action to reduce the enhanced supplementary leverage ratio (eSLR) of large banks by up to 1.5 percentage points. The move marks an important step in the U.S.'s direction to exempt Treasuries from bank capital requirements calculations. Although the current proposal only adjusts the overall ratio rather than directly excludes treasury bonds, regulators may seek public opinion on whether treasury bonds should be completely excluded from calculations.