The Federal Reserve Board announced it will sunset its novel activities supervision program and move supervision of banks’ novel activities back into the standard supervisory process. The change includes withdrawing the 2023 supervisory letter that created the program. The program had been used to supervise certain crypto and fintech activities in banks. The Board said it has strengthened its understanding of these activities, related risks, and bank risk management practices, and will integrate that knowledge and oversight into normal supervision going forward.
Federal Reserve Board 2025-08-15
United States Federal Reserve Board to sunset novel activities supervision program and withdraw 2023 supervisory letter
The Federal Reserve Board will discontinue its novel activities supervision program, integrating oversight of banks' crypto and fintech activities into the standard supervisory process. This includes withdrawing the 2023 supervisory letter that established the program. The Board has enhanced its understanding of these activities and related risks, which will now be part of regular supervision.