Banks to publish crypto asset exposure from 2026, global regulators say

07/03/2024 22:51
Banks to publish crypto asset exposure from 2026, global regulators say

LONDON (Reuters) -Global banking regulators have approved templates for banks to disclose their exposure to crypto assets from January 2026, they said on Wednesday, a year later than originally indicated. "These disclosures aim to enhance information availability and support market discipline," the Basel Committee on Banking Supervision said in a statement. The committee, made up of banking regulators from the world's main economies who commit to applying agreed standards, discussed the prudential or impact on capital of tokenised deposits and stablecoins, a cryptocurrency backed by an asset such as the dollar.

By Huw Jones

LONDON (Reuters) -Global banking regulators have approved templates for banks to disclose their exposure to crypto assets from January 2026, they said on Wednesday, a year later than originally indicated.

"These disclosures aim to enhance information availability and support market discipline," the Basel Committee on Banking Supervision said in a statement.

The committee, made up of banking regulators from the world's main economies who commit to applying agreed standards, discussed the prudential or impact on capital of tokenised deposits and stablecoins, a cryptocurrency backed by an asset such as the dollar.

Based on current market developments, risks from these are "broadly captured" by existing Basel standards, an indication that additional capital rules are not being planned for now.

"The Committee will continue to monitor this area and other developments in the cryptoasset markets," the statement added.

Basel members also agreed to take a more hands-on approach to dealing with risks for banks from their increasing use of third parties, such as for cloud computing to run key activities.

The committee said it would consult later this month on principles to replace looser guidance currently in force.

It also updated on a now closed public consultation into new rules for banks to disclose their climate-related financial risks under so-called "Pillar III" of their capital rules.

"It agreed to continue to work on finalising such a framework as part of its holistic approach to addressing climate-related financial risks," the statement said.

(Reporting by Huw Jones; Editing by David Goodman and Jan Harvey)

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