It is possible to write both:
struct S<'a, T: 'static> { b: &'a T }
struct S<'a, T: 'a> { b: &'a T }
So I presume that there are some contexts in which the first expression is allowed and the second one is forbidden, and conversely some contexts in which the first expression is forbidden and the second one is allowed.
Here is a context in which only the second expression is allowed:
// Forbidden
struct S<'a, T: 'static> { b: &'a T }
let n = 12;
let r = &n;
let s = S { b: &r };
// Allowed
struct S<'a, T: 'a> { b: &'a T }
let n = 12;
let r = &n;
let s = S { b: &r };
What is an example of a context in which only the first expression is allowed?