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🔗 Back to Summary. 🇫🇷 French Version: 2025R1264_FR.5. Back to Summary of LVL1. Direct link to EUR-LEX.
Article 4 – Segregation of the liquidity management policy and procedures ⬅️ | ➡️ Article 6 – Entry into force
Article 5 - Process and procedures to test scenarios of liquidity stress
1.
Issuers of asset-referenced tokens or e-money tokens shall include in their liquidity management policy the process and procedures to test scenarios of liquidity stress and the following information concerning each stress test:
(a)
risks covered in the liquidity stress testing;
(b)
parameters considered, their calibration under stress, and the stress scenarios and time horizons used in the liquidity stress testing;
(c)
historical data and assumptions, including any expert judgments, considered by the issuer in the calibration of the parameters referred to in point (b);
(d)
the outcome of the liquidity stress testing and any remedies taken.
2.
The liquidity stress testing shall include a reverse stress test element to assess the limit of resilience of the liquidity profile of each reserve of assets.