Banks Push OCC to Ease Weekly Stablecoin Reporting

The GENIUS Act, enacted on July 18, 2025, created the first federal framework for U.S. payment stablecoins and assigned prudential oversight to banking regulators, including the Federal Deposit Insurance Corporation. The regime separates assets backing token redemptions from an issuer’s own solvency cushion: issuers must maintain identifiable liquid reserves while also holding capital and an operational backstop sufficient to keep the business functioning during stress.

On July 20, 2026, the FDIC published proposed Form PS-02 for permitted payment stablecoin issuers under its supervision, modeling the quarterly disclosure on banks’ Call Reports. Its five schedules cover income, balance-sheet and off-balance-sheet items, capital and operational backstops, and supplemental operating data; the backstop includes assets equal to the prior 12 months of expenses. The agency plans to publish the information, with reports due 30 days after quarter-end. Comments are due Sept. 18.

Stablecoins rely on reserves such as cash and U.S. Treasury securities to maintain their dollar pegs, but concentrated ownership, exchange exposure and limited asset-level disclosure can amplify redemption pressure during market stress. The Federal Deposit Insurance Corporation’s proposal would give supervisors a more timely view of liquidity and reserve quality at regulated issuers, helping them assess vulnerabilities before a depegging event or run escalates.

Under the proposed PS-01 reporting form, regulated stablecoin issuers would submit operating and reserve data every week. Required disclosures would include the top 100 wallet addresses by holdings and transaction activity, exposure to cryptocurrency exchanges, and detailed amounts and composition of tokenized assets and U.S. Treasury positions. The high-frequency reports are intended to help the FDIC identify ownership concentration, liquidity strains and reserve mismatches in near real time.

The US Office of the Comptroller of the Currency (OCC) is advancing payment stablecoin oversight under the GENIUS Act, using Bulletin 2026-24 to translate statutory requirements into a regular reporting regime. Stablecoins hold cash and short-term assets as reserves, making liquidity and asset quality critical to redemption capacity. The new system therefore places reserve risk, operating conditions and financial soundness under continuous supervision.

The OCC issued Bulletin 2026-24 in 2026, requiring supervised stablecoin issuers to file confidential PS-01 reports weekly and PS-02 financial reports quarterly. This will produce approximately 52 short-cycle monitoring reports and four quarterly financial assessments each year. The bulletin specifies no particular monetary threshold, focusing instead on a dual-track system of short-term risk monitoring and medium-term financial verification.

Stablecoins use fiat currency reserves to maintain their value and have gradually become a settlement tool for payments and crypto markets. The United States enacted the GENIUS Act on July 18, 2025, generally allowing only qualified issuers to issue stablecoins domestically. The law brings reserves, redemptions, capital and oversight under a federal framework, affecting market access for banks, nonbank firms and foreign issuers.

The Office of the Comptroller of the Currency proposed rules on February 25, 2026, covering reserve assets, custody, redemptions, risk management, audits, registration and capital backing. The comment period runs through May 1. The following day, Comptroller Jonathan Gould testified before the Senate Banking Committee alongside officials from the Federal Reserve and FDIC, with stablecoins and digital assets emerging as key regulatory topics.