+29. In the determination of the stress factors to the assets referenced by the tokens, issuers of …

29. In the determination of the stress factors to the assets referenced by the tokens, issuers of …

In the determination of the stress factors to the assets referenced by the tokens, issuers of ARTs/EMTs should take into account under stress all the following parameters:

i.volatility and distributional indicators of the market value of the reserve of assets (such as mean, quartiles and distribution of the market value of the reserve of assets);
ii.volatility and distributional indicators with respect to the assets referenced (such as mean, quartiles and distribution of the market value of the assets referenced);
iii.idiosyncratic stress factors (such as liquidity, solvency soundness of the issuer);
iv.market wide stress factors (such as stress factors in the financial system or the crypto eco-system, number and magnitude of deviations between the token price and the market value of the asset referenced by the token).

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • EBA -

    EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

    DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.