Regulatory Alerts2025-02-25
Added · Updated
CSSF Circular 25/873 on EBA Guidelines for Recovery Plans under Regulation (EU) 2023/1114
The CSSF integrates the EBA Guidelines on recovery plans into its administrative practice, requiring issuers of asset-referenced tokens and e-money tokens to draw up and maintain recovery plans that specify the format and information for restoring compliance with reserve asset requirements. Issuers must include a summary, governance information with calibrated recovery plan indicators, a description of recovery options including at least one for capital and one for liquidity, and a communication plan. The CSSF circular applies with immediate effect to all such issuers as defined in Regulation (EU) 2023/1114.
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