2025-02-25
Added · Updated
The CSSF integrates the EBA Guidelines establishing common reference parameters for liquidity stress test scenarios into its administrative practice and regulatory approach. This requirement applies to issuers of significant asset-referenced tokens and electronic money institutions issuing significant e-money tokens, as well as non-significant issuers when the CSSF requires it. The guidelines mandate that issuers conduct regular liquidity stress testing covering redemption, deposit, market, and de-pegging risks, using the specified common reference parameters to calibrate stress scenarios. The circular applies with immediate effect.
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