Global banking regulators are adopting new rules that set disclosure requirements for banks’ crypto asset exposures.
On Wednesday, the Basel Committee on Banking Supervision issued its final disclosure framework for banks’ crypto involvement, which is based on the new capital rules for banks’ crypto asset exposures.
The final framework includes templates for qualitative and quantitative disclosures from banks that will improve transparency to investors and other market players, the regulators suggested.
“The use of the common disclosure table and templates will support the exercise of market discipline and help to reduce information asymmetry amongst banks and market participants,” the regulators said in a release.
The final framework follows a consultation that was undertaken in late 2023, which produced a number of changes to the initial proposals.
Among other things, the Basel Committee’s final rules aim to allow banks to include certain securities financing transactions in reporting of stablecoin reserves and to clarify the audit requirements for stablecoins’ reserve assets and the clearing requirements for exchange-traded funds and notes.
They also provide an exemption from certain reserve asset requirements for banks that are only providing custody services to a stablecoin.
The new requirements are slated to take effect Jan. 1, 2026.