The Federal Reserve's proposed rules for payment stablecoin issuers include a crisis clock. Issuers whose reserves fall below outstanding tokens would have 24 hours to notify the Fed and submit a plan to restore full backing. Unless the gap is closed or the Fed directs otherwise, the issuer must begin liquidating reserves and redeeming tokens by 5 p.m. on the next business day, a window the Fed states is less than 48 hours in many cases. The proposal also allows issuers to continue minting new tokens during this rescue window to avoid signaling distress on-chain, contrasting with the OCC's approach which requires an immediate halt to net new issuance.