FDIC Email Exchange on Crypto Activity Letter
Subject: FW: Digital Assets - XXXXX proposed activity
XXXXX
Consultation with WO in preparing letter to bank regarding proposed third-party crypto-asset activity.
From: Muraywid, Sumaya A. XXXXX@FDIC.gov
Sent: Tuesday, October 25, 2022 4:01 PM
To: Barry, Mary A. XXXXX@FDIC.gov; XXXXX; Ritchie, Kara L. XXXXX@FDIC.gov; XXXXX; Maggioni, Paul D. XXXXX@FDIC.gov; XXXXX; Boyd, Annmarie H. XXXXX@FDIC.gov
Cc: Collado, Larisa M. XXXXX@FDIC.gov; Ahrenholtz, Jason P. XXXXX@FDIC.gov; Dawley, Suzanne J. XXXXX@FDIC.gov; XXXXX; Switzer, Rene O. XXXXX@FDIC.gov; XXXXX
Subject: RE: Digital Assets - XXXXX proposed activity
Hi Mary,
Thank you for updating. This version looks good (if you could change 12/31 to 12/30, so that it’s on a Friday).
Thanks
Sumaya
From: Barry, Mary A. XXXXX@FDIC.gov
Sent: Tuesday, October 25, 2022 8:29 AM
To: Muraywid, Sumaya A. XXXXX@FDIC.gov; XXXXX; Ritchie, Kara L. XXXXX@FDIC.gov; XXXXX; Maggioni, Paul D. XXXXX@FDIC.gov; XXXXX; Boyd, Annmarie H. XXXXX@FDIC.gov
Cc: Collado, Larisa M. XXXXX@FDIC.gov; Ahrenholtz, Jason P. XXXXX@FDIC.gov; Dawley, Suzanne J. XXXXX@FDIC.gov; XXXXX; Switzer, Rene O. XXXXX@FDIC.gov; XXXXX
Subject: RE: Digital Assets - XXXXX proposed activity
Sumaya,
I updated the letter as we discussed last week. This will allow us to receive some of the requested information, if they have it, by year end.
Let me know if this is ready to send out.
Thanks,
Mary
From: Muraywid, Sumaya A. XXXXX@FDIC.gov
Sent: Thursday, October 20, 2022 8:45 AM
To: Barry, Mary A. XXXXX@FDIC.gov; XXXXX; Ritchie, Kara L. XXXXX@FDIC.gov
Maggioni, Paul D. XXXXX@FDIC.gov
b8
Boyd, Annmarie H. XXXXX@FDIC.gov
Cc: Collado, Larisa M. XXXXX@FDIC.gov; Ahrenholtz, Jason P. XXXXX@FDIC.gov; Dawley, Suzanne J. XXXXX@FDIC.gov;
b8
Switzer, Rene O. XXXXX@FDIC.gov
b8
Subject: RE: Digital Assets - XXXXX proposed activity
Hi Mary,
The typical timeframe provided to banks has been 60 days. For consistency, I would suggest replacing the ‘if the bank...’ to a 60 day date. The sentence that follows provides the bank with flexibility to let us know which of the items they don’t have yet and when they expect they will be developed (which will give us a sense of when to follow-up for those items). Let me know if you’d like to discuss.
One other item I just noticed, we probably should delete “above” in “above-requested.”
Thanks
Sumaya
From: Barry, Mary A. XXXXX@FDIC.gov
Sent: Wednesday, October 19, 2022 8:17 AM
To: Muraywid, Sumaya A. XXXXX@FDIC.gov
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Ritchie, Kara L. XXXXX@FDIC.gov
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Maggioni, Paul D. XXXXX@FDIC.gov
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Boyd, Annmarie H. XXXXX@FDIC.gov
Cc: Collado, Larisa M. XXXXX@FDIC.gov; Ahrenholtz, Jason P. XXXXX@FDIC.gov; Dawley, Suzanne J. XXXXX@FDIC.gov;
b8
Switzer, Rene O. XXXXX@FDIC.gov
b8
Subject: RE: Digital Assets - XXXXX proposed activity
Hi Sumaya,
The edit to paragraph 2 looks good. For your note in paragraph 3, I’m not sure how we what date we would put there or a timeframe (ie. Within 30, 60 days…) I would rather just keep it the way it is and I’m sure we will be following up with the bank.
If that is ok, we would like to send it out.
Thanks,
Mary
From: Muraywid, Sumaya A. XXXXX@FDIC.gov
Sent: Tuesday, October 18, 2022 7:13 PM
To: Barry, Mary A. XXXXX@FDIC.gov
b8
Ritchie, Kara L. XXXXX@FDIC.gov
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Maggioni, Paul D. XXXXX@FDIC.gov
b8
Boyd, Annmarie H. XXXXX@FDIC.gov
Cc: Collado, Larisa M. XXXXX@FDIC.gov; Ahrenholtz, Jason P. XXXXX@FDIC.gov; Dawley, Suzanne J. XXXXX@FDIC.gov;
b8
Switzer, Rene O. XXXXX@FDIC.gov
b8
Subject: RE: Digital Assets - XXXXX proposed activity
Mary,
We made an edit to avoid requesting the bank submit another notification. Please take a look and let us know what you think.
Thanks
Sumaya
From: Barry, Mary A. XXXXX@FDIC.gov
Sent: Monday, October 17, 2022 9:28 AM
To: Muraywid, Sumaya A. XXXXX@FDIC.gov; XXXXX XXXXX@FDIC.gov; XXXXX XXXXX@FDIC.gov; XXXXX XXXXX@FDIC.gov; XXXXX XXXXX@FDIC.gov; Boyd, Annmarie H. XXXXX@FDIC.gov
Cc: Collado, Larisa M. XXXXX@FDIC.gov; Ahrenholtz, Jason P. XXXXX@FDIC.gov; Dawley, Suzanne J. XXXXX@FDIC.gov; Switzer, Rene O. XXXXX@FDIC.gov
Subject: RE: Digital Assets XXXXX proposed activity
Sumaya and XXXXX,
Please see the letter for XXXXX. Please let us know if you have any edits/comments or if it is ready to be sent to the bank.
Thanks,
Mary
Mary A. Barry
Assistant Regional Director
Division of Risk Management Supervision
New York Region
XXXXX
From: Muraywid, Sumaya A. XXXXX@FDIC.gov
Sent: Wednesday, September 28, 2022 10:20 AM
To: Barry, Mary A. XXXXX@FDIC.gov; XXXXX XXXXX@FDIC.gov; XXXXX XXXXX@FDIC.gov; XXXXX XXXXX@FDIC.gov; XXXXX XXXXX@FDIC.gov; Boyd, Annmarie H. XXXXX@FDIC.gov
Cc: Collado, Larisa M. XXXXX@FDIC.gov; Ahrenholtz, Jason P. XXXXX@FDIC.gov; Dawley, Suzanne J. XXXXX@FDIC.gov; Switzer, Rene O. XXXXX@FDIC.gov
Subject: RE: Digital Assets XXXXX proposed activity
All -- the templates are attached. Thanks for the discussion today. We’ll review after you customize per our discussion. Thanks.
From: Barry, Mary A. XXXXX@FDIC.gov
Sent: Tuesday, September 20, 2022 12:08 PM
To: Barry, Mary A.; XXXXX; Muraywid, Sumaya A.; Ritchie, Kara L.; XXXXX; Maggioni, Paul D.; XXXXX; Boyd, Annmarie H.
Cc: Collado, Larisa M.; Ahrenholtz, Jason P.; Dawley, Suzanne J.; XXXXX; Switzer, Rene O.; King, Thaddeus J.; XXXXX
b8 Subject: Digital Assets XXXXX proposed activity When: Wednesday, September 28, 2022 10:00 AM-10:30 AM (UTC-05:00) Where: Microsoft Teams Meeting
We would like to set up a call to discuss this proposed activity of XXXXX with XXXXX. Please forward along to any other WO colleagues to participate.
Microsoft Teams meeting
XXXXX