The custody policies and procedures referred to in Paragraph SIO-6.4.1 must set out the selection criteria for the appointment of banks, investment firms and custodians to safeguard the reserve assets and the procedure for reviewing such appointments. Stablecoin issuers must review the appointment of banks, investment firms, and custodians for safeguarding the reserve assets on an annual basis or more frequently. For the purpose of review stablecoin issuers must evaluate their exposures to the banks, investment firms and custodians, taking into account the full scope of their relationship with them, and monitor the financial conditions of such entities on an ongoing basis.