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Comment: The FDIC joins other federal bank regulators in exploring the world of digital assets. The Federal Reserve last week published a proposal to allow certain chartered financial institutions access to its accounts. That move would benefit Special Purpose Depository Institutions like Kraken Bank and Avanti, two crypto firms.

##### FDIC Publishes 2021 Risk Review (05.11.2021)

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) published its 2021 Risk Review, a comprehensive summary of emerging risks in the U.S. banking system. The FDIC began reporting key banking sector risks in its Risk Review publication in 2019, and this year’s report expands coverage of key risks during a time of heightened uncertainty. “The U.S. economy and banking system showed remarkable resilience last year following the deepest recession in modern history,” said FDIC Chairman Jelena McWilliams. “Our analysis examines how insured institutions navigated the unprecedented banking landscape in 2020 and the key risks that warrant continued monitoring.” The 2021 Risk Report summarizes conditions in the U.S. economy, financial markets, and banking sector, and presents key credit and market risks to banks. The report focuses on the effects of these risks on community banks in particular, as the FDIC is the primary federal regulator for the majority of community banks in the U.S. banking system. The FDIC intends to publish its next Risk Review in the spring of 2022.

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Comment: The Risk Review provides a summary of risks that may ultimately affect FDIC-insured institutions and the FDIC’s Deposit Insurance Fund. Much of the discussion in the report focuses on risks that may affect community banks, as FDIC is the primary federal regulator for the majority of community banks in the United States.

##### FDiTech Announces New Deputy Director of Office of Innovation (05.10.2021)

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) announced the appointment of Zunera Mazhar as Deputy Director of the agency’s Office of Innovation. Ms. Mazhar will guide the agency’s work to promote the adoption of innovative technologies within the FDIC and across the financial services sector. “I am extremely excited that Zunera will be joining our team,” said FDIC Chief Innovation Officer Sultan Meghji. “She is a proven leader and offers a wealth of management, communications, technology and transformation experience to help build the banking ecosystem of the future.” Ms. Mazhar added, “It is an honor and privilege to join the FDIC at this transformative moment in the agency’s long and storied history. I look forward to joining a talented team working towards creating a more inclusive, resilient and equitable financial system through innovation across both the agency and the banking sector.” As Deputy Director of the FDIC’s Office of Innovation, Ms. Mazhar will work across the agency to promote innovative solutions to support the agency’s work. Prior to coming to the FDIC, Ms. Mazhar served as the Chief of Staff in the Office of Chief Information Officer at the U.S. Department of Education where she worked to provide technological solutions to support schools, students, and families. Previously, she was Chief of

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