Three-component prudential framework to bring stablecoins within the financial stability perimeter. Component 1 — Reserve Mandate: Any stablecoin with >B market cap must hold 100% reserves in central bank money or government securities with maturity <90 days. Algorithmic stablecoins are prohibited from the stablecoin label.

Implementation via national legislation in G20 jurisdictions (covering 85% of global stablecoin usage). Component 2 — Monthly Independent Audit: Reserves must be audited monthly by a Big 4 or equivalent firm using standardised FSB-approved methodology. Audit results published publicly within 5 business days.

Failure to publish triggers automatic trading suspension on regulated exchanges. Component 3 — FSB Stablecoin Coordination Protocol: Financial Stability Board establishes a dedicated stablecoin supervisory college — meeting quarterly, sharing real-time reserve data across jurisdictions, and coordinating emergency response for stablecoin runs.

Modelled on the Basel Committee architecture for bank supervision.