{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-26","gaps":[],"covered":["2025/415 — RTS — Own Funds & Stress Test [in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mica/level-2/rts/regulatory-technical-standards-to-specify-the-adjustment-of-own-funds-requirements-and-stress-testin/articles/2","url":"https://www.headlesslaw.com/mica/level-2/rts/regulatory-technical-standards-to-specify-the-adjustment-of-own-funds-requirements-and-stress-testin/articles/2","title":"Article 2 — 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Delegated Regulation (EU) 2025/415 · binding · OJ L, 2025/415, 24.3.2025 · dated 13 Dec 2024 [in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2024-12-13","published_on":"2025-03-24","entry_into_force":"2025-04-13","locators":{"document_date":"CELLAR 32025R0415 work_date_document","published_on":"CELLAR 32025R0415 official-journal-act_date_publication","entry_into_force":"CELLAR 32025R0415 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"mica/level-2/rts/regulatory-technical-standards-to-specify-the-adjustment-of-own-funds-requirements-and-stress-testin","path":"/mica/level-2/rts/regulatory-technical-standards-to-specify-the-adjustment-of-own-funds-requirements-and-stress-testin","name":"Commission Delegated Regulation (EU) 2025/415","number":"2025/415","celex":"32025R0415","title_official":"COMMISSION DELEGATED REGULATION (EU) 2025/415 of 13 December 2024 supplementing [Regulation (EU) 2023/1114](../../README.md) of the European Parliament and of the Council with regard to regulatory technical standards specifying adjustment of own funds requirement and minimum features of stress testing programmes of issuers of asset-referenced tokens or of e-money tokens (Text with EEA relevance)","document_date":"2024-12-13"},"position":{"kind":"article","key":"2","index":2,"articles":11,"annexes":0},"prev":{"path":"/mica/level-2/rts/regulatory-technical-standards-to-specify-the-adjustment-of-own-funds-requirements-and-stress-testin/articles/1","key":"1","title":"Article 1 — Scope of application"},"next":{"path":"/mica/level-2/rts/regulatory-technical-standards-to-specify-the-adjustment-of-own-funds-requirements-and-stress-testin/articles/3","key":"3","title":"Article 3 — Timeframe"},"act_anchor":"#art-2"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2025/415/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"mica/level-2/rts/regulatory-technical-standards-to-specify-the-adjustment-of-own-funds-requirements-and-stress-testin.md","unit_text_sha256":"779594b57285cc5651bc292ad5d8a61ba2160257711f4e05eb3f79e9c5d098d0","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"mica/level-2/rts/regulatory-technical-standards-to-specify-the-adjustment-of-own-funds-requirements-and-stress-testin/art-2","kind":"article","key":"2","heading":"Article 2 — Procedure","text":"## <a id=\"art-2\"></a>Article 2 — Procedure\n\n1. <a id=\"art-2-p-1\"></a>The competent authority of the home Member State (‘the competent authority’) shall provide an issuer of asset-referenced tokens or e-money tokens with the draft of its decision to require the increase of own funds in accordance with [Article 35(3)](../../articles/35.md) of Regulation (EU) 2023/1114 taking due account of the views expressed by the relevant issuer.\n2. <a id=\"art-2-p-2\"></a>The draft referred to in paragraph 1 shall set out:\\\n   <a id=\"art-2-p-2-a\"></a>a) the amount by which the own funds must be increased and the percentage higher than the amount of reserve of assets resulting from the application of [Article 35(1)](../../articles/35.md), first subparagraph, point (b), of Regulation (EU) 2023/1114;\\\n   <a id=\"art-2-p-2-b\"></a>b) relevant reasoning as to the higher degree of risk;\\\n   <a id=\"art-2-p-2-c\"></a>c) whether that higher degree of risk can have a material impact on the financial situation of the issuer or on the financial stability of the wider financial system;\\\n   <a id=\"art-2-p-2-d\"></a>d) whether that higher degree of risk is independent from the relevant issuer’s governance or business model;\\\n   <a id=\"art-2-p-2-e\"></a>e) the timeframe within which the relevant issuer shall increase its own funds in accordance with Article 3.\\\n3. <a id=\"art-2-p-3\"></a>The issuer of asset-referenced tokens or e-money tokens shall express its views on any of the elements referred to in paragraph 2 within 25 working days of receipt of the draft.\n4. <a id=\"art-2-p-4\"></a>The competent authority shall notify the issuer of asset-referenced tokens or e-money tokens of its final decision containing the elements listed in paragraph 2.\n5. <a id=\"art-2-p-5\"></a>The issuer of asset-referenced tokens or e-money tokens shall submit to the competent authority within 25 working days of receipt of the decision referred to in paragraph 4, a detailed plan on how its own funds are to be increased within the timeframe set by the competent authority. The plan shall contain the following:\\\n   <a id=\"art-2-p-5-a\"></a>a) time-bound steps, specific measures and procedures to carry out the increase within the set timeframe;\\\n   <a id=\"art-2-p-5-b\"></a>b) the confirmation that the envisaged use of own funds items and instruments to comply with the increased requirement fully meet the conditions set out in [Article 35(2)](../../articles/35.md) of Regulation (EU) 2023/1114.\\\n6. <a id=\"art-2-p-6\"></a>Where the timeframe referred to in Article 3 set for the completion of the increase of own funds is longer than three months, the issuer of asset-referenced tokens or e-money tokens shall inform the competent authorities on a monthly basis on the plan’s implementation progress.\n7. <a id=\"art-2-p-7\"></a>The issuer of asset-referenced tokens or e-money tokens shall inform the competent authority immediately in case any step or procedure cannot be achieved within the timeframe respecting the requirements set out in Article 3.\n8. <a id=\"art-2-p-8\"></a>The competent authority shall closely monitor the implementation of the plan.\n9. <a id=\"art-2-p-9\"></a>Where a college referred to in [Article 119(1)](../../articles/119.md) of Regulation (EU) 2023/1114 has been set up, the competent authority shall keep the European Banking Authority informed of all the information referred to in paragraphs 2 to 8, including the draft and the final decision, the plan and any relevant updates.\n\n","marks":[],"text_hash":"779594b57285cc5651bc292ad5d8a61ba2160257711f4e05eb3f79e9c5d098d0","revision":1}}