Article 36 requires ART issuers to constitute, maintain and manage at all times a reserve of assets composed in such a way as to cover the risks associated with the assets referenced by the ART (Article 36(6) liquidity + composition + segregation requirements; Article 36(11) segregation from issuer assets and from other reserves). Article 37 imposes custody of the reserve of assets by EU credit institutions or CASPs authorised for custody under Article 75. Article 38 governs investment of the reserve of assets (highly liquid, low-risk, low-credit-risk, low-market-risk financial instruments + cash + commodities subject to limits). Article 39 grants holders an unconditional right of redemption at par value at any time, with the issuer required to honour redemption requests promptly. Article 40 prohibits granting any interest to holders related to the length of time they hold the ART.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.