Events listed in Benchmark Regulation (BMR)
DECRETO LEGISLATIVO 7 dicembre 2023, n. 207 : Recepimento della raccomandazione ...
ID 26567
The Legislative Decree of 7 December 2023, No. 207 has been published in the Official Gazette No. 300. The Legislative Decree implements Recommendation ESRB/2011/3 of the European Systemic Risk Board of 22 December 2011 at national level by establishing a Macroprudential Policy Committee as an independent authority. In the recommendation, the ESRB advised member states to designate an authority entrusted with the implementation of ...
[ESMA80 -187-881 ] BMR Brexit Statement updated
ID 26297
ESMA has published an updated statement regarding UK-based third country benchmarks and UK endorsed and recognised benchmarks. Specifically, as the BMR transition period has been extended until 31 December 2025, EU supervised entities may use UK third country benchmarks for references and perfomance measurement purposes – even if the benchmarks are no longer in the ESMA register. The same holds true for benchmarks that ...
Benchmark Determination Methodology for EURIBOR
ID 26224
EMMI anounced it successfully completed the 3rd annual review of the Euribor Benchmark Determination Methodology, unequivocally attesting the robustness, reliability, and resilience of their approach. This validation underscores EMMI’s commitment to maintaining high standards in their processes. As a reminder, the EURIBOR Benchmark Determination Methodology includes contribution levels and eligibility criteria and offers guidelines for EURIBOR determination. It outlines ...
[ESMA81-1071567537-121 ] Working Group on Euro Risk-Free Rates Final Statement
ID 26050
The Euro Risk-Free Rates Working Group, led by ESMA, has completed its mission of reforming EU interest rates. The group identified the €STR as the risk-free rate for the euro area and defined fallback provisions for EURIBOR across various asset classes. ESMA encourages the industry to embed robust fallback provisions, especially for financial products referencing EURIBOR, such as mortgages. The working group, established in ...
Progress on financial services legislative files
ID 25556
The Economic and Financial Affairs Council (ECOFIN) has published an updated version of its document containing „information from the Presidency concerning the state of play of legislative proposals in the field of financial services“. The overview table is dated 9 November 2023 and distinguishes different colour-coded stages of each file. The changes from the previous version are as follows: 1. The „Council’s review„ on ...
Benchmarks Regulation – review of the scope and regime for non-EU benchmarks
ID 25479
The European Commission has published a press release in which it informs that it is seeking comments on its new draft on proposed revisions to the Benchmark Regulation (BMR). As we have reported before (please see EventID 23360 in this context for more information), the suggested modifications seek to simplify the regulation and reduce burdens for all stakeholders involved, including benchmark administrators, users, and ...
Commission Delegated Regulation (EU) 2023/2222 of 14 July 2023 extending the ...
ID 25443
New Commission Delegated Regulation (EU) 2023/2222 as regards the extension of the Benchmark Regulation (BMR) transition period stipulated in Article 51(5) of same regulation up to December 31, 2025 was published in the Official Journal (OJ) of the EU. The extension of the period ensures that EU supervised entities may continue to use UK-based third-country benchmarks for references and performance measurement purposes beyond the ...
2023/0379/COD: Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE ...
ID 25370
The European Commission (EC) has published a new draft on proposed revisions to the Benchmark Regulation (BMR). The suggested modifications seek to simplify the regulation and reduce burdens for all stakeholders involved, including benchmark administrators, users, and supervisors. Additionally, the proposed changes are aimed at increasing competition among benchmark administrators by reducing entry barriers for smaller, non-significant benchmarks in the EU. Specifically, the ...
Frequently asked questions: Benchmarks Regulation
ID 25365
Following the publication of a proposal to revise the EU Benchmark Regulation (BMR) in an effort to streamline regulatory requirements of smaller, non-significant benchmark providers and to simplify the regulation altogether (EventID 23360), the EU Commission has published a set of FAQs in this context. Therein, **the Commission provides further information on the reasoning behind the suggested BMR modifications, the objectives the Commission seeks ...
KNF przeprowadziła ocenę zdolności wskaźnika referencyjnego stopy procentowej WIBOR ...
ID 23948
The Polish Financial Supervision Authority (KNF) has published a press statement to inform of a recent evaluation of the WIBOR benchmark in accurately measuring the market and economic conditions. This assessment was carried out in accordance with Article 23, Section 4 of the BMR Regulation and covered a two-year period, spanning from December 16, 2020, to December 15, 2022 which allowed for a comprehensive ...