FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken June 29, 2021. REUTERS/Dado Ruvic/Illustration
November 9, 2021
LONDON (Reuters) – The Basel Committee of banking regulators said on Tuesday it will address climate-related risks and how banks should set aside capital to cover potential losses from cryptoassets.
The Swiss-based committee of banking regulators from the world’s main financial centres said it will launch a public consultation later this month on a set of principles for the “effective management and supervision of climate-related financial risks at internationally active banks”.
The committee said its members also agreed on the need for “conservative” risk-based set of minimum capital requirements standards for cryptoassets.
“Accordingly, the committee will further specify a proposed prudential treatment, with a view to issuing a further consultative document by mid-2022,” the committee said in a statement.
(Reporting by Huw Jones, Editing by Louise Heavens)
Source: One America News Network
