The European Central Bank (ECB) is asking banks operating in Russia to assess the risks that could arise from diplomatic and military scenarios related to tensions between Moscow and the West over Ukraine.
This is reported by people familiar with the matter, to which the Bloomberg news agency refers.
Federal Reserve supervisors are working with the banks they oversee to assess risks to liquidity, loan books, trading and foreign exchange positions, and their ability to continue operations, it said.
In some cases we are in daily contact.
The scenarios modeled include severe sanctions as well as the consequences of an eventual invasion.
Moscow still denies having any plans in this direction.
A spokesman for the ECB said it was monitoring the situation and was in close contact with banks and national regulators.
The banks in the euro area are exposed to varying degrees in Russia.
Overall, the risk seems to be limited, he said.
While many international banks, including Deutsche Bank, have scaled back their activities in Russia in recent years, France's Societe Generale, Italy's UniCredit and Austria's Raiffeisen Bank International are still among the largest in Europe, according to the EU banking regulator EBA Banks in the Federation.
The ECB and the banks are still analyzing the impact of the latest sanctions, the people report.