ICBA sent comments to the FDIC regarding its proposed information collection for Reporting Forms PS-01, PS-01a, and PS-02 for permitted payment stablecoin issuers subject to the FDIC’s supervision under the GENIUS Act.

ICBA said that before finalizing the forms, the FDIC should coordinate the reporting framework with other federal payment stablecoin regulators and provide the public an opportunity to evaluate the forms within the context of the broader GENIUS Act regulatory framework.

ICBA said the FDIC should also revise the forms and instructions to better capture stablecoin-specific risks, avoid supervisory blind spots in the short-form report, preserve meaningful public disclosure, and support comparable, validated, machine-readable reporting.