Bank's Future Crypto Plans Discussed

Memorandum

To: RADD Interim Bank Contact File
From: XXXXX Case Manager
Re: XXXXX

Subject: XXXXX Digital-/Crypto-Asset Discussion

On May 11, 2022, CM XXXXX contacted XXXXX Executive Vice President / Chief Risk Officer (EVP/CRO) XXXXX to discuss the bank’s plans for digital asset activity. The following are brief bullets regarding the discussion with EVP/CRO XXXXX:

• XXXXX is currently not engaged in any digital- or crypto-asset activity.
• Senior management does have an interest in engaging in crypto-asset activity at some point in the future.
• EVP/CRO XXXXX stated that research will likely begin sometime this year on various companies to engage with, but that no contracts are likely to be signed until sometime in 2023 at the earliest.

CM XXXXX directed EVP/CRO XXXXX to FDIC FIL-16-2022, Notification of Engaging in Crypto-Related Activities, and the information requirements outlined within that are to be submitted to the DALRO prior to engaging in any crypto-related activities.