Database on German and European Economic Law

 Regulation (EU) No 2016/1368

I. Description

In accordance with Article 20(1) of Regulation (EU) 2016/1011, a benchmark is considered as being a critical benchmark where it is used directly or indirectly within a combination of benchmarks as a reference for financial instruments or financial contracts or for measuring the performance of investment funds, having a total value of at least EUR 500 billion on the basis of all the range of maturities or tenors of the benchmark, where applicable.

Euro Interbank Offered Rate (EURIBOR) measures unsecured inter-bank offered rates in the Euro area and is one of most important interest rate benchmarks worldwide. It is estimated that that benchmark underpins more than EUR 180 000 billion worth of contracts. While these contracts are mostly interest rate swaps, the benchmark also covers more than EUR 1 000 billion of retail mortgages. Therefore, the value of financial instruments and financial contracts using that benchmark in the Union exceeds the threshold of EUR 500 billion by far.

II. General Information

Title

Commission Implementing Regulation (EU) 2016/1368 of 11 August 2016 establishing a list of critical benchmarks used in financial markets pursuant to Regulation (EU) 2016/1011 of the European Parliament and of the Council

Status
Existing
Regulation
(EU) No 2016/1368
Source
O.J. EU No L (Legislation), Edition 217, Year 2016, p.1-3
Adoption
08/11/2016
Promulgation
08/12/2016
Character
Lamfalussy Implementing Act
Framework Act
 Regulation (EU) Nr. 2016/1011

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Commission Implementing Regulation (EU) 2016/1368 of 11 August 2016 establishing a list of critical benchmarks used in financial markets pursuant to Regulation (EU) 2016/1011 of the European Parliament and of the Council

  (EU) No 2016/1368

Beschluss:
08/11/2016 (A)
Verkuendung:
08/12/2016 (P)
(A) Adoption | (P) Promulgation

Legend

Legislative Act Status

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions