FDIC to prioritize crypto risk assessment as banks perform poorly in Q2 By Cointelegraph
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FDIC to prioritize crypto risk assessment as banks perform poorly in Q2Economic uncertainty amid geopolitical tensions, rising interest rates and slowing economic growth have put a strain on the United States financial system. Reacting to the massive losses reported by the traditional banks in Q2 2022, the Federal Deposit Insurance Corporation (FDIC) decided to prioritize five key policies this year, which include evaluating the risks of crypto assets to the banking system.
Addressing the Senate Banking Committee at a recent hearing , FDIC acting chairman Martin J. Gruenberg highlighted the moderate decline in net income of banks in Q1 and Q2 2022 owing to an increase in loan balances and provision expense while stating that no banks failed in the past two years.
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FDIC to prioritize crypto risk assessment as banks perform poorly in Q2Economic uncertainty amid geopolitical tensions, rising interest rates and slowing economic growth have put a strain on the United States financial system. Reacting to the massive losses reported by the traditional banks in Q2 2022, the Federal Deposit Insurance Corporation (FDIC) decided to prioritize five key policies this year, which include evaluating the risks of crypto assets to the banking system.
Addressing the Senate Banking Committee at a recent hearing , FDIC acting chairman Martin J. Gruenberg highlighted the moderate decline in net income of banks in Q1 and Q2 2022 owing to an increase in loan balances and provision expense while stating that no banks failed in the past two years.
Continue Reading on Coin Telegraph
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