Updated 13/10/2025
Coming into force on 23/10/2025

Initial Legal Act
References (3)
eba.europa.eu/legacy/regulation-and-policy/regulatory-activities/asset-referenced-and-e-money-tokens-micar-5
03/10/2025
Delegated Regulation 2025/1264 published in OJ
13/06/2024
EBA/RTS/2024/12
Final Draft published
08/11/2023
EBA/CP/2023/26
Consultation published
Search within this legal act
MiCAR ToolDelegated Regulation 2025/1264

Delegated Regulation 2025/1264

Commission Delegated Regulation (EU) 2025/1264 of 27 June 2025 supplementing Regulation (EU) 2023/1114 of the European Parliament and of the Council with regard to regulatory technical standards specifying the minimum contents of the liquidity management policy and procedures for certain issuers of asset-referenced tokens and e-money tokens

RecitalsArticle 1 - ScopeArticle 2 - Policies and procedures for identifying, measuring and managing liquidity riskArticle 3 - Contingency policy and liquidity risk mitigation toolsArticle 4 - Segregation of the liquidity management policy and proceduresArticle 5 - Process and procedures to test scenarios of liquidity stressArticle 6 - Entry into force