In a working paper titled "Digital Currency and Bank Sector Stability," the Office of Financial Research found that when banks face financial friction, a central bank digital currency and other types of stablecoins would likely contribute to financial instability and increase the chances for banking sector crises and financial system distress.
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Recently sworn in Federal Reserve Board Vice Chair for Supervision Michael S. Barr highlighted the need to "build" and not just "maintain" safe and fair financial markets.
In a joint letter to the Basel Committee on Banking Supervision, ISDA, the Institute of International Finance, and the Global Financial Markets Association, among others, requested reconsideration of the 2014 standardized approach for measuring counterparty credit risk exposures.
Acting Chair of the FDIC Martin J. Gruenberg highlighted the agency's priorities for 2022.
The Federal Reserve Board, FDIC and OCC offered a roadmap to clarify the regulation of activities involving crypto-assets.