# Statement from EC changing minting limits for USDC

**URL:** <https://community.agoric.com/t/statement-from-ec-changing-minting-limits-for-usdc/213>\
**Category:** Econ Committee\
**Created:** [March 11, 2023, 6:39am UTC](https://community.agoric.com/t/statement-from-ec-changing-minting-limits-for-usdc/213 "2023-03-11T06:39:00Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![Joseph\_Clark](https://sea1.discourse-cdn.com/flex019/user_avatar/community.agoric.com/joseph_clark/32/85_2.png) [@Joseph\_Clark](https://community.agoric.com/u/Joseph_Clark)\
**Post date:** [March 11, 2023, 6:39am UTC](https://community.agoric.com/t/statement-from-ec-changing-minting-limits-for-usdc/213/1 "2023-03-11T06:39:00Z")

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The Economic Committee has been monitoring closely the movements with USDC in the wake of the failure of the Silicon Valley Bank today. In the interests of prudence, the EC has reduced the minting limit for USDC to the current level of outstanding IST. The USDC mint limits are now set at 1 million IST for USDC\_Axelar and 1 million IST for USDC\_Gravity. IST is still available for minting. The Economic Committee will continue to monitor any changes in the market.

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**Author:** ![octalmage](https://sea1.discourse-cdn.com/flex019/user_avatar/community.agoric.com/octalmage/32/121_2.png) [@octalmage](https://community.agoric.com/u/octalmage)\
**Post date:** [March 12, 2023, 1:57am UTC](https://community.agoric.com/t/statement-from-ec-changing-minting-limits-for-usdc/213/2 "2023-03-12T01:57:24Z")

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Good call! It’s been an interesting stress test for IST, don’t think anyone predicted any of this.

Keep up the good work.