Payments

The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.

Payments Access, Choice, and Governance

Apr 14, 2021, 10:22 AM
Title : Payments Access, Choice, and Governance
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Categories : Payments
Payments Access

Letters and Testimonies

Apr 9, 2021, 14:13 PM
Title : Letters and Testimonies
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Categories : ICBA Education
Letters and Testimony

Payments Strategy Guide

Apr 7, 2021, 11:55 AM
Title : Payments Strategy Guide
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Categories : Payments
Payments
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Credit Card and Debit Cards, Card Regulation, and Other Related Topics

Mar 31, 2021, 15:44 PM
Title : Credit Card and Debit Cards, Card Regulation, and Other Related Topics
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Categories : ICBA Education
Online Training
Related pages : Online Training

Payments News

OCC’s Hsu addresses key stablecoin policy considerations

April 11, 2022

Acting Comptroller of the Currency Michael Hsu identified three key policy issues critical to understanding and shaping the stablecoin system: stability, interoperability, and separability.

Hsu Remarks: In a speech on stablecoin architecture, Hsu said:

  • A regulatory approach comparable to bank regulation would be more effective than regulating stablecoins like money market funds, though it would be “overly burdensome” for companies that only issue coins and hold reserves for redemption.

  • Interoperability within stablecoins on multiple chains and across stablecoins is likely to become a bigger issue as they come to be used for payments, though the industry is not paying enough attention to this challenge.

  • Blockchain-based activities should be separated from insured depository institution subsidiaries to avoid intraday liquidity risks.

FSOC Meeting: Also Friday, the Financial Stability Oversight Council met to hear from agency staff on commodity market developments and Treasury staff on preliminary work to execute the president’s executive order on digital assets.

Yellen Speech: Friday’s events followed a speech from Treasury Secretary Janet Yellen on the need for a coordinated policy response to digital assets that reflected many of ICBA’s core crypto priorities.

More: Recent ICBA blog posts provide the latest on stablecoin market developments and how Washington is responding. ICBA also offers a summary of the president EO on digital assets.