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U.S. Regulators Warn Banks of Heightened Liquidity Risks in Crypto-Related Deposits
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WASHINGTON—A trio of regulators including the Federal Reserve warned banks to be mindful of liquidity risks related to cryptocurrencies, the latest move by U.S. officials to limit the economy’s vulnerability to the tumultuous market.
The Fed, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. said in a joint statement Thursday that banks should apply effective risk management when dealing with deposits linked to crypto entities. These include robust due diligence and monitoring of crypto entities that establish deposit accounts, as well as incorporating the potential volatility of those deposits into routine stress tests.
Read more on wsj.comAbout this in other media
Hundreds of venture capital firms vow to work with Silicon Valley Bank again if new owner is found cnbc.com /1 year ago
US Fed to create new crypto team amid concerns about unregulated stablecoins cointelegraph.com /1 year ago
Fed’s Michael Barr Calls for Stablecoin Regulation in Crypto Oversight wsj.com /1 year ago
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