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Publication of 4 Commission Delegated Regulations relating to benchmarks

18/01/2018

On 17 January 2018, four Commission Delegated Regulations supplementing EU Regulation 2016/1011 of 8 June 2016 regarding benchmarks were published in the Official Journal of the European Union.

On 17 January 2018, four Commission Delegated Regulations supplementing EU Regulation 2016/1011 of 8 June 2016 regarding benchmarks were published in the Official Journal of the European Union.

Commission Delegated Regulation (EU) 2018/65 outlines the circumstances in which a figure is made public in order to know if it is considered an index, thus being used to define the idea of benchmark.

Commission Delegated Regulation (EU) 2018/66 specifies the procedures for evaluating the nominal amount of financial instruments other than derivatives, the notional amount of the derivative products and the net book value of investment funds. These amounts and values are a decisive criterion for classifying an index in the category of the indices of critical, significant or insignificant importance.
Commission Delegated Regulation (EU) 2018/67 defines the assessment criteria to determine the impact of the termination or modification of existing benchmarks in order to know if these changes may result in a case of force majeure, or otherwise compromise or infringe the contractual conditions.
In the context of the indices of critical importance, Commission Delegated Regulation (EU) 2018/64 establishes the extent to which cessation of an index, or the provision of an index on the basis of underlying data that is no longer fully representative of the market, could have significant negative effects on the integrity of the market and financial stability.

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