Article 54 — Investment of funds received in exchange for e-money tokens
Financial servicesLevel 1RegulationMiCAIn forceIn force on the date shown, by the dates in the Official Journal.VerifiedIdentical to the official source.Official source
Funds received by issuers of e-money tokens in exchange for e-money tokens and safeguarded in accordance with Article 7(1) of Directive 2009/110/EC shall comply with the following:
54(a)
(a)at least 30 % of the funds received is always deposited in separate accounts in credit institutions;
Copy link54(b)
(b)the remaining funds received are invested in secure, low-risk assets that qualify as highly liquid financial instruments with minimal market risk, credit risk and concentration risk, in accordance with Article 38(1) of this Regulation, and are denominated in the same official currency as the one referenced by the e-money token.
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