GENIUS Act: Proposed Reporting Forms and Instructions for FDIC-Supervised Permitted Payment Stablecoin Issuers

Summary:

On April 10, 2026, as part of a proposed rule that would implement requirements under the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, the Federal Deposit Insurance Corporation (FDIC) proposed a new information collection that would include weekly and quarterly reporting forms that must be completed by FDIC-supervised permitted payment stablecoin issuers (PPSI). This Financial Institution Letter (FIL) provides notice of the forms and instructions in support of the proposal.

Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions. This FIL applies to all FDIC-supervised Permitted Payment Stablecoin Issuers which are subsidiaries of FDIC-supervised financial institutions approved by the FDIC to issue payment stablecoins under the GENIUS Act.

Highlights:

• On April 10, 2026, the FDIC published a proposed rule that would implement requirements of the GENIUS Act and that would require FDIC-supervised PPSIs to provide weekly and quarterly reports.
• The FDIC is seeking comment on the forms and related instructions for FDIC-supervised PPSIs, including: (1) a weekly confidential reporting form, and (2) a quarterly reporting form.
• The FDIC is also proposing a "short-form" weekly report for eligible FDIC-supervised PPSIs.
• Comments on the proposed forms and instructions are due 60 days after publication in the Federal Register.