The European Commission has adopted the following Delegated Regulations supplementing the Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Benchmarks Regulation):
- Commission Delegated Regulation (EU) …/… of 29.9.2017 supplementing the Benchmarks Regulation specifying technical elements of the definitions laid down in paragraph 1 of Article 3 of the Regulation;
- Commission Delegated Regulation (EU) …/… of 29.9.2017 supplementing the Benchmarks Regulation specifying how the nominal amount of financial instruments other than derivatives, the notional amount of derivatives and the net asset value of investment funds are to be assessed; and
- Commission Delegated Regulation (EU) …/… of 29.9.2017 supplementing the Benchmarks Regulation with regard to specifying how the criteria of Article 20(1)(c)(iii) are to be applied for assessing whether certain events would result in significant and adverse impacts on market integrity, financial stability, consumers, the real economy or the financing of households and businesses in one or more member states.
The next step is for the Council of the EU and the European Parliament to consider the Delegated Regulations. If neither of them objects, the Delegated Regulations will enter into force 20 days after their publication in the Official Journal of the EU.