On 17 July 2024, the Basel Committee on Banking Supervision (Basel Committee) published its final disclosure framework for banks’ cryptoasset exposures and targeted amendments to its cryptoasset standard. Both standards have an implementation date of 1 January 2026.
The final disclosure framework (DIS55) is based on the disclosure requirements contained in the final prudential standard on banks’ cryptoasset exposures published in December 2022. It comprises of:
- Table CAEA: Qualitative disclosure on a bank’s activities related to cryptoassets and the approach used in assessing the classification conditions.
- Template CAE1: Cryptoasset exposures and capital requirements.
- Template CAE2: Accounting classification of exposures to cryptoassets and crypto liabilities.
- Template CAE3: Liquidity requirements for exposures to cryptoassets and crypto liabilities.
DIS55 will replace paragraphs SCO60.128 to SCO60.130 of the Basel Framework.
The amendments to the cryptoasset standard follow a consultation that the Basel Committee published in December 2023. Based on the feedback received to the consultation the Basel Committee has made certain changes to its proposals including those relating to bankruptcy remoteness of cash and inclusion of securities financing transactions in Group 1b stablecoin reserve assets. The revised text will be incorporated into the consolidated Basel Framework (SCO60 Cryptoasset exposures).