Stablecoins (ART / EMT)
Stress Testing for Reserves
Regular scenario analysis of ART/EMT reserves under extreme conditions — required by EBA RTS for significant issuers.
Definition
Stress testing applies extreme but plausible scenarios to the reserve composition and redemption flow — major market dislocations, currency crises, run scenarios. Significant ART/EMT issuers test quarterly; results inform supervisory dialogue and capital adequacy.