Regulation · Instrument · United States · Policy statement (final rules) · Board of Governors of the Federal Reserve System

Federal Reserve Policy Statement on Section 9(13) of the Federal Reserve Act (2025)

Replaces the Fed's 2023 policy statement, which had limited state member banks to activities permitted for banks under the other federal regulators and was read as restricting novel products. The new statement creates a pathway for insured and uninsured Board-supervised state member banks to carry on certain innovative activities.

In force · effective 17 Dec 2025 · part of US federal banking agencies' framework for bank crypto-asset, stablecoin and tokenisation activities