2026-03-05 | FIL-5-2026

Frequently Asked Questions Regarding the Capital Treatment of Tokenized Securities

The Office of the Comptroller of the Currency, Federal Reserve Board, and FDIC issued guidance establishing that eligible tokenized securities receive technology-neutral capital treatment identical to their non-tokenized counterparts. This capital treatment remains unchanged regardless of whether tokens are issued on permissioned or permissionless blockchains, and qualifying tokens may be recognized as financial collateral subject to standard haircuts and perfection requirements. Banking organizations must apply sound risk management practices and ensure the tokenized securities confer legal rights identical to traditional securities to qualify under the rule.

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