diff --git a/TODO b/TODO
index 8025eaeb..1e78d77c 100644
--- a/TODO
+++ b/TODO
@@ -1,3 +1,11 @@
+Overrides:
+  * liquidations: will incorrectly calculate liquidatable amount
+  * verify adding fields to the end of LiquidityStatus doesn't break any ABIs
+  * view can't correctly query collateral/liability values of individual assets
+    ? fix this in riskManager.computeAssetLiquidities
+  * make sure user isn't entered into any other markets (with 0 balance)
+    * attacker could dust their account and force-disable the override
+
 Lending logic:
   g when a token has < 18 decimal places, and a user withdraws their full EToken balance, 0 out the remaining dust so user gets a storage refund
 
diff --git a/contracts/Events.sol b/contracts/Events.sol
index dc295ede..cc1a6155 100644
--- a/contracts/Events.sol
+++ b/contracts/Events.sol
@@ -57,6 +57,7 @@ abstract contract Events {
     event GovSetReserveFee(address indexed underlying, uint32 newReserveFee);
     event GovConvertReserves(address indexed underlying, address indexed recipient, uint amount);
     event GovSetChainlinkPriceFeed(address indexed underlying, address chainlinkAggregator);
+    event GovSetOverride(address indexed liability, address indexed collateral, Storage.OverrideConfig newOverride);
 
     event RequestSwap(address indexed accountIn, address indexed accountOut, address indexed underlyingIn, address underlyingOut, uint amount, uint swapType);
     event RequestSwapHub(address indexed accountIn, address indexed accountOut, address indexed underlyingIn, address underlyingOut, uint amountIn, uint amountOut, uint mode, address swapHandler);
diff --git a/contracts/IRiskManager.sol b/contracts/IRiskManager.sol
index b13d33f1..6ab4afe6 100644
--- a/contracts/IRiskManager.sol
+++ b/contracts/IRiskManager.sol
@@ -19,6 +19,8 @@ interface IRiskManager {
         uint liabilityValue;
         uint numBorrows;
         bool borrowIsolated;
+        uint numCollaterals;
+        bool overrideEnabled;
     }
 
     struct AssetLiquidity {
diff --git a/contracts/Storage.sol b/contracts/Storage.sol
index 7bd1a290..e7de55af 100644
--- a/contracts/Storage.sol
+++ b/contracts/Storage.sol
@@ -93,4 +93,11 @@ abstract contract Storage is Constants {
     mapping(address => address) internal pTokenLookup; // PToken => underlying
     mapping(address => address) internal reversePTokenLookup; // underlying => PToken
     mapping(address => address) internal chainlinkPriceFeedLookup; // underlying => chainlinkAggregator
+
+    struct OverrideConfig {
+        bool enabled;
+        uint32 collateralFactor;
+    }
+
+    mapping(address => mapping(address => OverrideConfig)) internal overrideLookup; // liability => collateral => OverrideConfig
 }
diff --git a/contracts/modules/Governance.sol b/contracts/modules/Governance.sol
index c5b7f539..e9e8d9cf 100644
--- a/contracts/modules/Governance.sol
+++ b/contracts/modules/Governance.sol
@@ -117,6 +117,14 @@ contract Governance is BaseLogic {
         emit GovSetChainlinkPriceFeed(underlying, chainlinkAggregator);
     }
 
+    function setOverride(address liability, address collateral, OverrideConfig calldata newOverride) external nonReentrant governorOnly {
+        require(underlyingLookup[liability].eTokenAddress != address(0), "e/gov/liability-not-activated");
+        require(underlyingLookup[collateral].eTokenAddress != address(0), "e/gov/collateral-not-activated");
+
+        overrideLookup[liability][collateral] = newOverride;
+
+        emit GovSetOverride(liability, collateral, newOverride);
+    }
 
     // getters
 
diff --git a/contracts/modules/RiskManager.sol b/contracts/modules/RiskManager.sol
index 7b5a1dd9..683e8f24 100644
--- a/contracts/modules/RiskManager.sol
+++ b/contracts/modules/RiskManager.sol
@@ -287,12 +287,23 @@ contract RiskManager is IRiskManager, BaseLogic {
 
     // Liquidity
 
+    struct OverrideCache {
+        address liability;
+        uint liabilityValue;
+
+        address collateral;
+        uint collateralValue;
+    }
+
     function computeLiquidityRaw(address account, address[] memory underlyings) private view returns (LiquidityStatus memory status) {
         status.collateralValue = 0;
         status.liabilityValue = 0;
         status.numBorrows = 0;
         status.borrowIsolated = false;
+        status.numCollaterals = 0;
+        status.overrideEnabled = false;
 
+        OverrideCache memory overrideCache;
         AssetConfig memory config;
         AssetStorage storage assetStorage;
         AssetCache memory assetCache;
@@ -311,11 +322,16 @@ contract RiskManager is IRiskManager, BaseLogic {
                 (uint price,) = getPriceInternal(assetCache, config);
 
                 status.numBorrows++;
+                overrideCache.liability = underlying;
+
                 if (config.borrowIsolated) status.borrowIsolated = true;
 
                 uint assetLiability = getCurrentOwed(assetStorage, assetCache, account);
 
                 if (balance != 0) { // self-collateralisation
+                    status.numCollaterals++;
+                    overrideCache.collateral = underlying;
+
                     uint balanceInUnderlying = balanceToUnderlyingAmount(assetCache, balance);
 
                     uint selfAmount = assetLiability;
@@ -337,19 +353,32 @@ contract RiskManager is IRiskManager, BaseLogic {
                     status.borrowIsolated = true; // self-collateralised loans are always isolated
                 }
 
-                assetLiability = assetLiability * price / 1e18;
+                assetLiability = overrideCache.liabilityValue = assetLiability * price / 1e18;
                 assetLiability = config.borrowFactor != 0 ? assetLiability * CONFIG_FACTOR_SCALE / config.borrowFactor : MAX_SANE_DEBT_AMOUNT;
                 status.liabilityValue += assetLiability;
             } else if (balance != 0 && config.collateralFactor != 0) {
                 initAssetCache(underlying, assetStorage, assetCache);
                 (uint price,) = getPriceInternal(assetCache, config);
 
+                status.numCollaterals++;
+                overrideCache.collateral = underlying;
+
                 uint balanceInUnderlying = balanceToUnderlyingAmount(assetCache, balance);
-                uint assetCollateral = balanceInUnderlying * price / 1e18;
+                uint assetCollateral = overrideCache.collateralValue = balanceInUnderlying * price / 1e18;
                 assetCollateral = assetCollateral * config.collateralFactor / CONFIG_FACTOR_SCALE;
                 status.collateralValue += assetCollateral;
             }
         }
+
+        if (status.numBorrows == 1 && status.numCollaterals == 1 && overrideCache.liability != overrideCache.collateral) {
+            OverrideConfig memory overrideConfig = overrideLookup[overrideCache.liability][overrideCache.collateral];
+
+            if (overrideConfig.enabled) {
+                status.overrideEnabled = true;
+                status.collateralValue = overrideCache.collateralValue * overrideConfig.collateralFactor / CONFIG_FACTOR_SCALE;
+                status.liabilityValue = overrideCache.liabilityValue;
+            }
+        }
     }
 
     function computeLiquidity(address account) public view override returns (LiquidityStatus memory) {
diff --git a/test/override.js b/test/override.js
new file mode 100644
index 00000000..ded7d535
--- /dev/null
+++ b/test/override.js
@@ -0,0 +1,69 @@
+const et = require('./lib/eTestLib');
+const scenarios = require('./lib/scenarios');
+
+
+et.testSet({
+    desc: "overrides",
+
+    preActions: ctx => [
+        ...scenarios.basicLiquidity()(ctx),
+        { send: 'tokens.TST3.approve', args: [ctx.contracts.euler.address, et.MaxUint256,], },
+        { send: 'tokens.TST3.mint', args: [ctx.wallet.address, et.eth(100)], },
+        { send: 'eTokens.eTST3.deposit', args: [0, et.eth(10)], },
+
+        { action: 'updateUniswapPrice', pair: 'TST/WETH', price: '2', },
+        { action: 'updateUniswapPrice', pair: 'TST2/WETH', price: '0.5', },
+        { action: 'updateUniswapPrice', pair: 'TST3/WETH', price: '0.25', },
+
+        { action: 'setAssetConfig', tok: 'TST3', config: { borrowIsolated: false, borrowFactor: .5, }, },
+    ],
+})
+
+
+
+.test({
+    desc: "override basic",
+    actions: ctx => [
+        { from: ctx.wallet2, send: 'dTokens.dTST.borrow', args: [0, et.eth(.1)], },
+
+        // Account starts off normal, with single collateral and single borrow
+
+        { call: 'exec.liquidity', args: [ctx.wallet2.address], onResult: r => {
+            et.equals(r.liabilityValue, 0.5, .001); // 0.1 * 2 / 0.4
+            et.equals(r.collateralValue, 3.75, .001); // 10 * 0.5 * 0.75
+            et.expect(r.overrideEnabled).to.equal(false);
+        }, },
+
+        // Override is added for this liability/collateral pair
+
+        { send: 'governance.setOverride', args: [
+            ctx.contracts.tokens.TST.address,
+            ctx.contracts.tokens.TST2.address,
+            {
+                enabled: true,
+                collateralFactor: Math.floor(0.97 * 4e9),
+            },
+        ], },
+
+        { call: 'exec.liquidity', args: [ctx.wallet2.address], onResult: r => {
+            et.equals(r.liabilityValue, 0.2, .001); // 0.1 * 2
+            et.equals(r.collateralValue, 4.85, .001); // 10 * 0.5 * 0.97
+            et.expect(r.overrideEnabled).to.equal(true);
+        }, },
+
+        { from: ctx.wallet2, send: 'dTokens.dTST3.borrow', args: [0, et.eth(.1)], },
+
+        // Additional borrow on account disables override
+
+        { call: 'exec.liquidity', args: [ctx.wallet2.address], onResult: r => {
+            et.equals(r.liabilityValue, 0.55, .001); // (0.1 * 2 / 0.4) + (0.1 * 0.25 / 0.5)
+            et.equals(r.collateralValue, 3.75, .001); // 10 * 0.5 * 0.75
+            et.expect(r.overrideEnabled).to.equal(false);
+        }, },
+    ],
+})
+
+
+
+
+.run();