Agencies Clarify the Capital Treatment of Tokenized Securities

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Joint Press Release

March 05, 2026

Agencies clarify the capital treatment of tokenized securities

Federal Deposit Insurance Corporation

Federal Reserve Board

Office of the Comptroller of the Currency

For release at 3:30 p.m. EST

The federal bank regulatory agencies today jointly issued answers to frequently asked questions to clarify the capital treatment of tokenized securities.

A security is often referred to as "tokenized" when ownership rights in the security are represented using distributed ledger technology. The answers to the frequently asked questions clarify that an eligible tokenized security should generally receive the same capital treatment as the non-tokenized form of the security under the capital rule. The agencies also clarified that the capital rule is technology neutral, and the technologies used to issue and transact in a security do not generally impact its capital treatment.

As with any exposure, banks holding tokenized securities must apply sound risk management practices and comply with applicable laws and regulations.

Frequently Asked Questions

Media Contacts:

FDIC

Brian Sullivan

(202) 412-1436

FRB

Meg Badenhorst

(202) 452-2955

OCC

Stephanie Collins

(202) 649-6870

Last Update: March 05, 2026