In the past few governance calls, a recurring topic of conversation has been the total allocation of debt ceiling to the general stablecoin class. For example, if TUSD is to be ratified and added this week (with a debt ceiling of 2 million), does that mean the USDC-A debt ceiling should be reduced from 20 million to 18 million? How would the emergency facility of USDC-B (with a proposed debt ceiling of 10 million) fit into this? Does the community want to consider having an informal cap on stablecoin exposure (roughly 20 million? higher?). Intuitively, the concept certainly makes sense, but (my personal opinion is) it could be quite difficult to quantitatively make any hard rules here unless someone can propose some sort of rating system amongst the different stablecoin issuers in terms of counterparty risk.
I would love to open this up to community discussion.