First Analysis: Risk of Crypto-Assets and Impact on Bank Failures

We continue to share updates and new content on the fallout from the recent failure of Silicon Valley Bank. This week, explore this practice note which examines the recent U.S. bank failures and the associated risk of cryptocurrency assets at insured depository institutions. The practice note provides an overview of key applicable laws, the Federal Deposit Insurance Corporation’s (FDIC) role in a bank failure, and effective management of the risks related to crypto-assets.

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Related Content          

• Federal Deposit Insurance Corporation's Role after Failure of an Insured Depository Institution
  Access this practice note for a discussion of the FDIC’s role in the event of an insured depository institution’s failure. The practice note discusses the receivership function and closing process of the FDIC.

• Navigating a Failed Bank Receivership
  Explore the insolvency regime under federal banking law that enables the FDIC to serve as receiver for a failed insured depository institution. This practice note sets forth various requirements that govern the FDIC’s conduct, activities, and operations in connection with any failed bank.

• Dodd-Frank Act and Insured Depository Institution Rules Resolution Plans (Living Wills)
  Review the requirements for insured depository institutions resolution plan (Living Will) as required in Title I Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the Federal Deposit Insurance Act.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.          

• Trends & Insights provides the latest in news articles and insights documents on trending areas for financial service organizations including SVB Financial Group Bankruptcy: Client Alert Digest and Silicon Valley Bank Failure – Key Questions and Considerations.
• Bank Failure Resource Kit, Virtual Currency, Bitcoin, and Cryptocurrency Resource Kit, OCC Fintech Charter Resource Kit, and In-House Banking and Financial Services Resource Kit each provide links to resources (including practice notes, checklists, templates, and guidance) on key issues, laws, and regulations applicable to in-house lawyers and counsel advising on bank activity and failure.
• Financial Institution Regulations State Law Comparison Tool provides state-specific guidance and the ability to compare state laws for banking and non-banking financial institutions in the areas of licensing and capital requirements, conditions to doing business in the state, AML/CFT guidelines, recordkeeping, supervision, and enforcement authority.
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