Federal Reserve on June 23 Remove reputable risks From its banking supervision program, employees ordered the term to raise the term for exams and focus on measurable financial exposure.
The Federal Reserve move puts the central bank side by side Federal Deposit Insurance Corporation (FDIC) and Currency Observer OfficeWhich made similar changes this year.
Together, the three regulatory authorities supervise each federal federal deposit institution. Their coordinated reviews are a personal standard. Experts said the examiners allowed the banking services to be banned.
In addition, banks were prevented from providing simple encryption services such as buying and selling bitcoin (BTC).
Under the new guidelines, Federal Reserve will receive training to implement a uniform change in all banks supervised by the Board of Directors and will work with peer agencies “to enhance consistent practices”.
The memo confirms that banks must continue to maintain the frameworks of managing strong risks to protect their safety and safety. However, it shows that the exam teams should only address the reputable effects through specific legal, or credit channels.
Federal reserve signs openness to organized encryption activity
President Jerome Powell laid the basis for the transformation in a speech on April 16 at the Economic Club in Chicago, where he is And he urged Congress to establish Stablecoin and stated that the Federal Reserve does not intend Reducing legal relations Between banks and encryption companies.
At that time, the genius law was stuck in Congress. However, this scenario has changed after the Senate Send the procedure to the house To consider after voting 51-23 on June 17.
Moreover, Powell acknowledged that the organizers adopted a conservative position after the 2022 market failures, but said that some directions “may be relaxed to absorb the responsible innovation.”
He referred to the already coded nursery services It operates within the banks that are supervised in the federal reserve He pledged to maintain safety while allowing institutions to “interact with digital assets in a way that we understand.”
Powell’s statements repeat a certificate he provided to Congress in February, where he confirmed that the current supervisory frameworks allow banks to deal with encryption as long as they manage capital, liquidity and operational risks.
The Federal Reserve Guidance completes an effort for a period of three months by the federal organizers to remove the reputation risks from the banking supervision policy, and leave the operational, legal and financial standards as reasons and limit to taking examinations.
