The Prudential Implications for Banks and Investment Firms When They Hold or Trade Crypto-Assets
Mr. M. Mol-Huging en mr. drs. J.J.F. van der Meer1Artikel kopen € 79,00 excl. BTW
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Although the prudential treatment of crypto-assets in the banking book has recently begun to take shape after the BCBS' Crypto-Asset Standard, a specific framework for crypto-asset exposures of investment firms remains absent thus far. This article examines the current prudential implications for banks and investment firms holding or trading crypto-assets and explores solutions for addressing prudential requirements for both direct and indirect exposures to crypto-assets.
1. Introduction
On 18 July 2024, the Dutch Central Bank (De Nederlandsche Bank) published a news item highlighting two new regulatory developments relevant to banks regarding their crypto-asset exposures.2 Firstly, the Capital Requirements Regulation 33 ("CRR3") introduced a transitional regime for banks' direct crypto-asset exposures entering into force on 1 January 2025. Secondly, the Basel Committee on Banking Supervision ("BCBS
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Verder in dit artikel:
1. Introduction
2. What is the Regulatory Framework?
2.1. Defining Crypto-Assets: A Brief Overview
2.2. Defining prudential treatment
2.3. Trading book vs. banking book
2.4. Pillar 1 and Pillar 2
2.5. What are the (prudential) risks related to crypto-assets?
3. Prudential Treatment of Crypto-Assets in the Banking Book
3.1. Introduction to the Crypto-Asset Standard
3.2. Principles underlying the Crypto-Asset Standard
3.3. Grouping of the different crypto-assets
3.4. Capital Requirements for Crypto-Asset Exposures: Starting with the Most Stringent
4. CRR3: A Stopgap Solution
4.1. Interim regime
5. Remaining challenges in the Prudential Treatment of Crypto-Assets
5.1. Use the CRR3 interim regime
5.2. Applying the Crypto-Asset Standard
5.3. A best-estimate approach
6. Concluding Remarks
