US institutions: banks should use cash to support deposits of cryptocurrency customers
According to reports, the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) said that enterprises have been told that they need to conduct careful risk assessment, but the latest statement is not in the process of formulating new policies. The new announcement released on Thursday aims to “remind banking organizations to apply the existing risk management principles when it comes to activities related to cryptocurrencies”. Banks should consider the “concentration and correlation” of the entire deposit and the potential liquidity risk. The company should also complete “strong due diligence and continuous monitoring” of all cryptocurrency activities. The regulator said that banks should not lend the deposits of cryptocurrency customers and should hold cash to support all deposits.
Interpretation of this information:
The Federal Reserve, FDIC, and OCC have issued a reminder to banks that they must apply existing risk management principles to activities related to cryptocurrencies. The regulators emphasized the importance of conducting careful risk assessment, considering concentration and correlation of deposits, monitoring of activities, and avoiding lending to cryptocurrency customers. Banks should also hold cash to support all deposits and conduct strong due diligence. The statement does not indicate the formulation of new policies.
This article and pictures are from the Internet and do not represent 96Coin's position. If you infringe, please contact us to delete:https://www.96coin.com/40398.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.