(2)In accordance with Regulation (EU) 2023/1114, the Commission is to specify the minimum contents of the liquidity management policy and procedures for managing the liquidity risk of issuers of asset-referenced tokens or e-money tokens ensuring that the value of the reserve of assets can meet requests for redemption by holders of such tokens under normal and stress scenarios ensuring the normal continuity of the business. In order to meet requests for redemption, issuers of asset-referenced tokens or e-money tokens should pay particular attention to the volatility of the assets referenced relative to the reserve of assets and should perform a subsequent analysis of the necessary overcollateralisation. To mitigate any counterparty risk, issuers of asset-referenced tokens or e-money tokens should avoid risks of concentration of the custodians of the reserve of assets.