Source: OJ L, 2025/415, 24.3.2025

Article 7 Minimum frequency of the different stress testing exercises

Summary What does Article 7 of the RTS on stress test programmes say?

Article 7 sets the minimum frequency requirements for the two types of stress tests introduced in Article 6 — solvency and liquidity stress tests.

It draws a clear distinction between issuers of significant and non-significant tokens when it comes to solvency testing, while applying a uniform and more demanding frequency to liquidity testing across all issuers regardless of their classification.

Important points:

Conduct solvency stress tests at least quarterly if you are an issuer of significant asset-referenced tokens or e-money tokens, or at least semi-annually if your tokens are non-significant.
Conduct liquidity stress tests at least monthly, regardless of whether your tokens are classified as significant or non-significant.
The higher frequency demanded for liquidity stress testing reflects a stricter baseline obligation that applies universally to all issuers of asset-referenced tokens or e-money tokens.

Springlex's summary of the article, a reading aid, not a substitute for the legal text.

1. The frequency for solvency stress test shall be, at least, quarterly for issuers of significant asset-referenced tokens or e-money tokens and semi-annual for issuers of non-significant asset-referenced tokens or e-money tokens.
1. The frequency of liquidity stress test shall be, at least, monthly for all issuers of asset-referenced tokens or e-money tokens.

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