SUPPLEMENTARY INFORMATION:

Under the PRA (44 U.S.C. 3501 et seq.), Federal agencies must obtain approval from the OMB for each collection of information that they conduct or sponsor. “Collection of information” is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. Section 3506(c)(2)(A) of title 44 generally requires Federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, before submitting the collection to OMB for approval. The FDIC is requesting OMB approval for the following collection of information related to the FDIC's notice of proposed rulemaking titled “GENIUS Act Requirements and Standards for FDIC-Supervised Permitted Payment Stablecoin Issuers and Insured Depository Institutions” (the proposal).^[1]

Title: Requirements and Standards for FDIC-Supervised Permitted Payment Stablecoin Issuers and Insured Depository Institutions.

OMB Control No.: 3064-0225.

Type of Review: Regular.

Affected Public: Businesses or other for-profit.

Description:

The Guiding and Establishing National Innovation for U.S. Stablecoins Act (12 U.S.C. 5901 et seq.) (GENIUS Act or the Act) was enacted on July 18, 2025. The Act establishes a regulatory framework for payment stablecoin activities. On April 10, 2026, the FDIC published the proposal that would add Part 350 to Title 12 of the CFR and implement certain requirements of the Act.^[2] Proposed section 350.7 would, among other things, require permitted payment stablecoin issuers (PPSIs) to provide confidential weekly reports and quarterly reports to the FDIC.^[3]

As addressed in the proposal, these reporting forms would facilitate FDIC supervision of PPSIs, promote transparency with respect to the financial condition of PPSIs, and provide information that can be used to assess compliance with reserve asset requirements in the GENIUS Act and proposed section 350.4. Proposed section 350.7(g) would require PPSIs to submit a weekly confidential reporting form to the FDIC, while proposed section 350.7(h) would require PPSIs to submit a quarterly reporting form to the FDIC. The FDIC is publishing this notice to provide the public with an opportunity to comment on the weekly and quarterly reporting forms described in the proposal, along with instructions for those forms.

Form PS-01, the proposed weekly reporting form for PPSIs with $1 billion or more in total outstanding issuance value or $100 million or more in average daily transaction volume in the prior month can be found at https://www.fdic.gov/​federal-register-publications/​form-ps-01.pdf. The instructions for Form PS-01 can be found at https://www.fdic.gov/​federal-register-publications/​ps-01-instructions.pdf.

Form PS-01a, the proposed weekly reporting form for PPSIs with less than $1 billion in total outstanding issuance value and less than $100 million average daily transaction volume in the prior month can be found at https://www.fdic.gov/​federal-register-publications/​form-ps-01a.pdf. The instructions for Form PS-01a can be found at https://www.fdic.gov/​federal-register-publications/​ps-01a-instructions.pdf.

Form PS-02, the proposed quarterly reporting form for all PPSIs can be found at https://www.fdic.gov/​federal-register-publications/​form-ps-02.pdf. The instructions for Form PS-02 can be found at https://www.fdic.gov/​federal-register-publications/​ps-02-instructions.pdf.

The proposed forms are published as text documents. However, the FDIC expects to use structured formats ( e.g., XML, JSON, or CSV/XBRL, etc.) to improve the usability of submitted data. The FDIC seeks comment on which format would be most effective for PPSI submissions. The inclusion of any particular item in either reporting form does not imply the permissibility of any particular activity. Certain items may be modified or removed depending on the requirements of a final rule.

Weekly Reporting Forms

The proposed weekly reporting forms would, among other things, help monitor compliance with the reserve asset requirements in proposed section 350.4. Each FDIC-supervised PPSI would be required to prepare a Form PS-01 or PS-01a, subject to eligibility criteria discussed below. A PPSI would be required to submit a separate Form PS-01 or PS-01a, if applicable, for each brand of payment stablecoin it issues.

The FDIC invites comment on the entirety of the weekly reporting forms, including whether the forms request the appropriate type and level of information, whether items should be modified, removed, or added, whether the eligibility criteria for Form PS-01a is appropriate, and any responses to the questions in the proposal related to the weekly reporting form.

Each FDIC-supervised PPSI that issues payment stablecoins with less than $1 billion in total outstanding issuance value in the most recent quarterly Form PS-02 and less than $100 million average daily transaction volume in the prior month would be eligible to file Form PS-01a. PS-01a includes three schedules (Schedules A-C) while PS-01 includes eight schedules (Schedules A-H). PPSIs would be expected to file either Form PS-01 or Form PS-01a at each weekly report date. For a PPSI otherwise eligible to file the Form PS-01a, the FDIC may require the PPSI to file the PS-01 instead based on supervisory need; however, such circumstances are expected to be limited/infrequent.

Form PS-01

The proposed weekly reporting form (PS-01) would include eight schedules, described below.^[4]

Schedule A—General

Schedule A would collect information on the largest holders of the payment stablecoin, largest exchanges facilitating trading of the payment stablecoin, trading volume of the payment stablecoin, top counterparties of a PPSI, and ongoing capital requirement for the PPSI.

Schedule B—Issuance and Redemption

Schedule B would collect information on outstanding issuance values of payment stablecoins, issuances and redemptions of the payment stablecoins over the reporting period, and information on secondary market price and trading activity for payment stablecoins.

Schedule C—Reserve Assets

Schedule C would collect information on the reserve assets backing the payment stablecoin issued by the PPSI. This would include information about reserve assets by type. ( printed page 45276)

Schedules D, E, F, G, and H would collect disaggregated information about specific classes of reserve assets ( e.g., U.S. Treasury securities on Schedule E) backing the payment stablecoins issued by the PPSI. PPSIs would not be required to report on these schedules information regarding assets they own that are not held as reserve assets backing payment stablecoins. For example, PPSIs should not report U.S. Treasury securities they own on Schedule E if those U.S. Treasury securities do not comprise the reserve assets used to back outstanding payment stablecoins pursuant to the GENIUS Act and proposed section 350.4.

Schedule D—Cash Balances

Schedule D would collect information on cash balances held as reserve assets backing payment stablecoins. This information would include items on the location ( i.e., in the U.S. or foreign countries) and size of insured and uninsured deposits maintained at depository institutions, as well as any balances maintained at a Federal Reserve Bank. Schedule D would also collect aggregate information on the money received under repurchase agreements and the associated repurchase agreements liabilities.

Schedule E—U.S. Treasury Securities

Schedule E would collect information on U.S. Treasury securities held as reserve assets backing payment stablecoins, such as Committee on Uniform Securities Identification Procedures (CUSIP) numbers for individual U.S. Treasury securities, their fair value, remaining maturity, coupon, effective interest rate, and information about the custodian holding the securities, as well as counterparty and collateral haircut, on any U.S. Treasury securities encumbered by outstanding repurchase agreements.

Schedule F—Reverse Repurchase Agreements

Schedule F would collect information on reverse repurchase agreements held as reserve assets backing payment stablecoins, such as counterparty, cash lent, agreement type, and agent name. The schedule also collects information on securities collateralizing the reverse repurchase transaction, such as CUSIPs, collateral values, collateral maturity, and collateral haircuts.

Schedule G—Money Market Mutual Funds

Schedule G would collect information on money market mutual funds held as reserve assets backing payment stablecoins, such as fund name, net asset value, effective interest rate, and custodial information.

Schedule H—Other Instruments

Schedule H would collect information on any other instruments held as reserve assets backing payment stablecoins that are not collected by the other schedules, such as, for example, any physical currency held by a PPSI as a reserve asset backing payment stablecoins.

Form PS-01a

As an abridged version of the PS-01, the proposed weekly reporting form (PS-01a) would include three schedules, described below.

Schedule A—General

Schedule A would collect the same information as Schedule A of Form PS-01 but at a reduced level for holders of the payment stablecoins, exchanges facilitating trading of payment stablecoins, and the trading volume of payment stablecoins.

Schedule B—Issuance and Redemption

Schedule B would collect the same information as Schedule B of Form PS-01 but at a reduced level for the issuance and redemption of the payment stablecoin issued by the PPSI over the reporting period.

Schedule C—Reserve Assets

Schedule C would collect the same information as Schedule C of PS-01 on the reserve assets backing the payment stablecoin issued by the PPSI.

Quarterly Reporting Forms

The proposed quarterly reports of financial condition for PPSIs that would be required by proposed section 350.7(h) aim to replicate, in a streamlined manner, the quarterly Consolidated Reports of Condition and Income filings, commonly referred to as “Call Reports.” Standardizing these reporting requirements would enhance the FDIC's ability to supervise PPSIs.

All FDIC-regulated institutions are already subject to other reporting obligations, notably the Call Report. The FDIC invites comment on the entirety of the proposed quarterly reporting form, including whether the form requires the appropriate type and level of information, whether items should be modified, removed, or added, and any responses to the questions in the proposal related to the quarterly reporting form.

The FDIC intends to publish the information provided in the quarterly report to ensure transparency and to allow the public to understand a PPSI's financial condition. As with other items in these proposed reporting forms, some items in the schedules discussed below may be modified or removed depending on the requirements of a final rule. The inclusion of any particular item in a schedule does not imply the permissibility of any particular activity.

The proposed quarterly reporting form (PS-02) would include five schedules, described below.

Schedule A—Income Statement

Schedule A would collect information about reserve asset income and expense, other income and expense, and net income. Schedule A separates (1) income and expenses associated with a PPSI's reserve assets from (2) income and expenses associated with other PPSI activities.

Schedule B—Balance Sheet

Schedule B would collect a balance sheet including information about reserve assets backing payment stablecoins, non-reserve assets and liabilities, and capital. With the exception of United States coins and currency, the FDIC generally expects that items included in a PPSI's reserve assets backing payment stablecoins would be reported at fair value.

Schedule C—Off-Balance Sheet Items

Schedule C would collect information about off-balance sheet items including off-balance sheet assets and liabilities, including derivatives. The FDIC generally expects that these off-balance sheet items would not represent PPSI reserve assets backing payment stablecoins but invites comments about whether there might be exceptions.

Schedule D—Capital and Operational Backstop

Schedule D would collect additional information about a PPSI's capital elements. Schedule D would also collect information about a PPSI's operational backstop, including information about the total expense for the previous 12 months and the composition of assets of the operational backstop.

Schedule E—Memorandum

Schedule E would collect additional information about a PPSI's operations, including other reserve asset income and expenses, other income and expenses, other assets and liabilities, number of branded payment stablecoins issued, non-US dollar assets and liabilities, average reserve assets backing payment stablecoins, payment stablecoin issuances, redemption, and burn data, blockchains, redemption metrics, and custody activities. ( printed page 45277)

Burden Estimate

The proposal would establish regulatory requirements for FDIC-supervised PPSIs as mandated by the GENIUS Act, as well as provide further clarity for FDIC-supervised custodians. As discussed in the proposal, the FDIC recognizes the significant uncertainty regarding estimates of the number of FDIC-supervised PPSIs and IDIs that would seek to issue payment stablecoins or engage in other permitted payment stablecoin activities. For the purposes of providing a conservative estimate, the FDIC assumes that approximately 30 FDIC-supervised IDIs would perform these activities under the proposal. The FDIC assumes that: (1) 10 FDIC-supervised IDIs would seek approval for their subsidiary to become a PPSI each year over the first three years after the proposal is finalized and (2) there would be approximately 30 FDIC-supervised custodians, some of which may also be FDIC-supervised PPSIs themselves.

The total burden estimates for this collection of information were published in the proposal. The proposal included burden estimates for the weekly form (information collection 7 for implementation burden and information collection 36 for ongoing burden in the proposal) and for the quarterly form (information collection 8 for implementation burden and 37 for ongoing burden in the proposal). This notice is re-publishing the estimates for the weekly and quarterly reporting burden below for informational purposes.

In addition to the questions posed through the document, comments are also invited on: (a) whether the collections of information are necessary for the proper performance of the FDIC's functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the information collections, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collections of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. All comments will become a matter of public record.

91 FR 45274