FDIC Proposes Weekly and Quarterly Reporting Forms for Stablecoin Issuers Under the GENIUS Act, Including Reserve-Asset Schedules, With Comments Due September 18

The Federal Deposit Insurance Corporation has published proposed reporting forms and instructions for stablecoin issuers that it supervises, as part of the U.S. implementation of the GENIUS Act, the law that set up a federal framework for payment stablecoins. According to a law-firm analysis by Orrick, the FDIC announced the notice on July 17, 2026, and the analysis was published on July 24. A summary from the Independent Community Bankers of America, dated July 20, 2026, reports the same action through a Financial Institution Letter. This article uses those two sources and notes that the exact date of the FDIC's issuance differs slightly between them, so it describes the notice as issued in mid-July 2026. The sources describe the forms at a high level and do not list every data field.

How the forms fit into the rulemaking

The reporting forms implement the FDIC's proposed rule of April 10, 2026, which set up the framework for permitted payment stablecoin issuers, abbreviated PPSIs. The ICBA summary says comments are due 60 days after publication in the Federal Register, and the Orrick analysis gives the date as September 18. The sources describe the forms as proposed and not final.

According to Orrick, the stated purposes of the reports are to help the FDIC supervise issuers, promote transparency and check compliance with the reserve asset requirements. The reports would be confidential, yet the FDIC also plans to publish the quarterly data. The sources do not explain how those two statements fit together, so this article reports both as stated.

The weekly report

Each PPSI would file a separate weekly form for every payment stablecoin brand it issues. There are two versions. Form PS-01 is the full version. It applies to PPSIs with at least $1 billion in total outstanding issuance value, or at least $100 million in average daily transaction volume in the prior month. It has eight schedules that cover the largest holders and exchanges for a stablecoin, issuance and redemption activity, and reserve assets. The reserve schedules cover cash balances, U.S. Treasury securities, reverse repurchase agreements and money market mutual funds.

Form PS-01a is an abridged version for issuers below those thresholds, with three schedules. The FDIC may still require a smaller issuer to file the full form if supervisory needs call for it.

The two thresholds are alternatives, not cumulative: an issuer that crosses either the $1 billion issuance level or the $100 million daily volume level files the full form. A stablecoin with modest outstanding value but heavy trading could therefore still be subject to the more detailed weekly schedules. That is a reading of the thresholds as the sources state them, and the sources do not give an example.

The quarterly report

Form PS-02 would apply to all PPSIs. It is a streamlined version of the call report that banks file, with five schedules: the income statement, the balance sheet, off-balance-sheet items, capital and operational backstop, and additional memorandum data. The FDIC plans to publish this quarterly data, according to Orrick. A call report is the standard periodic financial filing that banks submit to regulators, so the quarterly form means stablecoin issuers would be reporting in a familiar format.

How many institutions and how much work

The FDIC estimates that about 30 FDIC-supervised insured depository institutions would engage in these activities. It estimates the combined annual burden of weekly and quarterly reporting at 3,840 hours. Dividing, calculated here, gives roughly 128 hours per institution a year, or about two and a half hours a week, though the sources do not say that the burden would be spread evenly, and actual effort would depend on the size of the issuer and the number of stablecoin brands.

What the sources do not say

The sources do not list every data field, do not give reserve composition percentages or redemption figures, and do not describe the Paperwork Reduction Act process in detail. They also do not explain how the FDIC chose the $1 billion and $100 million thresholds. Whether and how the quarterly data would be published alongside the confidentiality of the reports is also not reconciled in the sources.

Why weekly data matters

Reserve backing is the central promise of a payment stablecoin: each token is supposed to be redeemable for a dollar, supported by reserve assets. Weekly reporting by brand lets a supervisor compare issuance with reserves frequently, rather than waiting for a quarterly filing. The forms also ask about large holders and exchanges, which indicate concentration and where redemptions might come from. This reading follows from the schedules the sources describe and is not a statement by the FDIC.

What happens next

After the comment period closes, the FDIC will consider the feedback and decide whether to adopt the forms, possibly with changes. Issuers and banks that expect to issue stablecoins will want to check their systems' ability to produce weekly reserve data by brand. The sources give no effective date. Readers should consult the FDIC's Financial Institution Letter and the Federal Register notice for the exact requirements. This article is general information and not legal advice.