Rule · BLOCKER

ANNEX_II.G.DEPOSIT_FLOOR_REVIEW

Candidate deposit floor for the reserve (30 % under Art. 36(4)(d); 60 % under Art. 45(7)(b) for significant ARTs, or for non-significant ARTs via Arts. 35(4) and 45(3) MiCAR) - lawyer review required

Citation: Annex II, Part G in conjunction with Art. 35(4), Art. 36(4), point (d), Art. 45(3) and Art. 45(7), point (b) MiCAR
Canonical form: Anhang II Teil G i.V.m. Art. 35 Abs. 4, Art. 36 Abs. 4 Buchst. d, Art. 45 Abs. 3 und Art. 45 Abs. 7 Buchst. b MiCAR
Runs for: Annex II · asset-referenced tokens
Severity if open: BLOCKER
Section key: reserve_of_assets
Minimum words: 0
Listed terms (English): none
Listed terms (German): none
Package version: 1.2.1, built from source that may include unreleased changes
Source: rules/annex_ii.py

How the status is set

Review: a characterisation flag (references_official_currency, art_significant, article_45_7b_required_by_authority) is missing or not a boolean; the draft states the token references no official currency; or a percentage is found in the section.
Missing: the flags determine a candidate floor and the section states no percentage.
Pass: never. Draft flags are assertions pending lawyer confirmation, not trusted facts.

Legal basis

Annex II, Part G in conjunction with Art. 35(4), Art. 36(4), point (d), Art. 45(3) and Art. 45(7), point (b) MiCAR

https://eur-lex.europa.eu/eli/reg/2023/1114/oj/eng

Not re-verified since these pages were introduced (2026-10-20): EUR-Lex was unreachable from the build environment. The citation is the rule's own, unchanged.

Synthetic examples

Each example is linted when this page is generated. The build fails if a result differs.

ReviewCharacterisation not stated

The draft does not state the three characterisation flags, so no candidate floor applies yet.

{
  "title": "Synthetic rule example",
  "type": "art",
  "sections": {
    "reserve_of_assets": "The reserve is held in deposits."
  }
}

MissingFlags stated, no percentage

The flags point to a candidate floor, but the section states no deposit share.

{
  "title": "Synthetic rule example",
  "type": "art",
  "references_official_currency": true,
  "art_significant": false,
  "article_45_7b_required_by_authority": false,
  "sections": {
    "reserve_of_assets": "The reserve is held in deposits."
  }
}

ReviewFlags stated, percentage present

A percentage is detected and listed for a lawyer. The check never decides whether it meets a floor.

{
  "title": "Synthetic rule example",
  "type": "art",
  "references_official_currency": true,
  "art_significant": false,
  "article_45_7b_required_by_authority": false,
  "sections": {
    "reserve_of_assets": "The issuer keeps 40% of the reserve in deposits."
  }
}

Limitations

Reads one section key, reserve_of_assets. Text elsewhere in the draft is not considered.
Reads draft metadata and percentages only. It does not test accuracy or decide whether a floor is met.
Status and severity are fixed by the rule. A draft cannot waive or downgrade them.
The Annex II rules have not yet been run against a real ART white paper.
This rule never reports Pass.

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