Fed released its latest financial stability report from 8 November.
The report highlights a number of vulnerabilities in the financial sector, including a section on stablecoins that compares risks with money market funds.
Referring also to a report released by the President’s Working Group last week, the Fed said:
The report also included two surveys of industry participants asking them to indicate possible shocks to financial stability.
In the first poll in the spring, cryptos were ranked ninth, while in the fall poll, they were ranked fifth. In the fall survey, crypto concerns rank higher than climate change concerns.
In the survey, it was observed that there was an increase in fears about the tension between the USA and China.