Basel Committee consults on disclosure of banks' cryptoasset exposures

• Basel Committee publishes consultation on the disclosure of banks' cryptoasset exposures.
• Follows publication of its final prudential standard on treatment of cryptoassets in December 2022.
• Disclosure users and preparers are requested to comment on the consultation by 31 January 2024.

The Basel Committee on Banking Supervision today published a consultative document to follow on from its prudential standard on the treatment of cryptoasset exposures, finalised in December 2022.

Disclosure of cryptoasset exposures proposes a standardised disclosure table and set of templates for banks' cryptoasset exposures with a proposed implementation date of 1 January 2025. Under the proposals, banks would be required to disclose qualitative information on their activities related to cryptoassets and quantitative information on exposures to cryptoassets and the related capital and liquidity requirements. Banks would also be required to provide details of the accounting classifications of their exposures to cryptoassets and cryptoliabilities. The Committee expects that a common format for disclosures will support the exercise of market discipline and help to reduce information asymmetry between banks and market participants.

The Committee welcomes comments from the public and market participants, including the users and preparers of disclosures, on all aspects of the consultative document, by 31 January 2024. All comments will be published on the Bank for International Settlements website unless a respondent specifically requests confidential treatment.

Note to editors:

The Basel Committee is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. The Committee reports to the Group of Central Bank Governors and Heads of Supervision and seeks its endorsement for major decisions. The Committee has no formal supranational authority, and its decisions have no legal force. Rather, the Committee relies on its members' commitments to achieve its mandate. The Group of Central Bank Governors and Heads of Supervision is chaired by Tiff Macklem, Governor of the Bank of Canada. The Basel Committee is chaired by Pablo Hernández de Cos, Governor of the Bank of Spain.

More information about the Basel Committee is available here.