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On November 16, 2021, the Bank for International Settlements (BIS) released a Consultative Document on proposed principles for the effective management and supervision of climate-related financial risks.
© Nicolas Economou/NurPhoto via Getty Images Banks holding cryptocurrencies may have to set aside much higher levels of capital to reflect the growing risks of holding them, global regulators said this week. The report called crypto assets an “immature asset class” that pose several major risks to banks, including credit risk; market risk; operational risk (including fraud and cyber risks); money laundering and terrorist financing risk; and legal and reputation risks. What is the Basel Committee proposing? The committee is proposing to divide cryptocurrencies into two different groups...
Bitcoin part of highest risk category in Basel's new bank capital plan The Basel Committee on Banking Supervision proposed tough requirements for banks that want to hold cryptocurrencies such as Bitcoin. 8484 Total views News The Basel Committee on Banking Supervision (BCBS), a global committee of banking supervisors and central banks, has proposed new requirements for banks that want to hold cryptocurrencies such as Bitcoin (BTC). In a consultation paper published Thursday, the committee provided preliminary proposals for the prudential treatment of crypto exposure by banks. The pap...
BIS: Basel Committee Consults On Prudential Treatment Of Cryptoasxposures Date 10/06/2021 Basel Committee issues public consultation on preliminary proposals for the prudential treatment of banks' cryptoasset exposures. The proposals split cryptoassets into two broad groups: those eligible for treatment under the existing Basel Framework with some modifications; and others, such as bitcoin, are subject to a new conservative prudential treatment. The Committee invites submissions on the proposals by 10 September. The Basel Committee on Banking Supervision today issued a public consultati...
The Bank for International Settlements said bitcoin is higher-risk than stablecoins due to its volatility, so tougher capital set-aside is needed.