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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
18/12/2017 ESMA65-8-5306 Benchmarks attributes Reference PDF
229.87 KB
14/12/2017 ESMA70-145-11 Q&A on the Benchmarks Regulation (BMR) Q&A PDF
454.74 KB
29/11/2017 ECB/ESMA/FSMA Risk Free Rate Working Group Application Form Reference DOCX
25.87 KB
08/11/2017 ESMA70-145-11 Q&A on BMR , Q&A PDF
441.71 KB
29/09/2017 ESMA70-145-253 Response form for the Consultation Paper on Guidelines for non-significant benchmarks Reference DOCX
768.13 KB
29/09/2017 70-145-105 Draft Guidelines on non-significant benchmarks , Consultation Paper PDF
557.29 KB
21/09/2017 ESMA71-99-595 New Working Group on a Risk-Free Reference Rate for the Euro Area Press Release PDF
147.1 KB

Today, the Financial Services and Markets Authority (FSMA), the European Securities and Markets Authority (ESMA), the European Central Bank (ECB) and the European Commission announce the launch of a new working group tasked with the identification and adoption of a "risk-free overnight rate" which can serve as a basis for an alternative to current benchmarks used in a variety of financial instruments and contracts in the euro area.

The working group, chaired by a private sector representative and with the Secretariat to be provided by the ECB, will regularly consult market participants and end-users, as well as gather feedback from other public authorities. Its terms of reference will be made public and the group will regularly report on its meetings. This is to ensure transparency on all steps in the identification and adoption of a new risk free rate.

02/06/2017 ESMA70-145-81 Final report on draft RTS on cooperation with third countries under BMR Final Report PDF
203.07 KB
02/06/2017 ESMA70-143-5 Methodological framework for mandatory benchmarks contributions Report PDF
282.75 KB
04/05/2017 ESMA71-99-398 Joint Public Statement FSMA-ESMA regarding EURIBOR Press Release PDF
364.2 KB

In September 2016, the FSMA, as the national competent authority for Belgium, established the Euribor college and chaired its inaugural meeting. The college includes ESMA, the national competent authorities of the various banks contributing to the Euribor, as well as the national competent authorities of Member States for which the Euribor presents a systemic character because of its importance for their real economy, for the financing of households and enterprises, or for consumers in general. The Euribor college, chaired by the FSMA, currently consists of 17 national supervisory authorities and ESMA. The ECB has attended its meetings as an invited expert.

In 2015, EMMI developed a methodology that would ground the Euribor entirely on transactions (“Euribor+”) and has subsequently carried out a “pre-live verification” exercise, based on data gathered from 31 banks over a period running from September 2016 to February 2017. On May 4th 2017, after consultation with the FSMA and as a result of its pre-live verification exercise, EMMI published its decision not to pursue a transition to the proposed Euribor+ methodology in the short term.

The college of Euribor takes note of this decision and will continue to engage with EMMI on alternative plans for Euribor reform and transition.

30/03/2017 ESMA71-99-374 ESMA publishes final rules to ensure integrity of EU financial benchmarks , Press Release PDF
166.98 KB

The European Securities and Markets Authority (ESMA) has published its final report containing the draft regulatory and implementing technical standards (RTS/ITS) under the Benchmarks Regulation (BMR). These contain the detailed rules to implement the new European regulatory framework aimed at ensuring the accuracy and integrity of benchmarks across the European Union.

29/03/2017 ESMA70-145-48 Draft technical standards under the Benchmarks Regulation Report PDF
1.75 MB
23/01/2017 ESMA71-844457584-329 ESMA Chair keynote address at PRIME Finance Conference , , Speech PDF
281.45 KB
10/11/2016 2016-1567 ESMA finalises advice on future rules for financial benchmarks Press Release PDF
234.22 KB
10/11/2016 2016-1560 Final Report on Technical Advice under the Benchmarks Regulation Final Report PDF
943.42 KB
30/09/2016 2016/1414 Methodological Framework- Model Written Arrangements for Benchmark Colleges Reference PDF
272.57 KB

Article 46 of the Regulation (EU) No 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Regulation) provides that the competent authority of an administrator of a critical benchmark that is referred to in points (a) and (c) of Article 20(1) of the Regulation shall establish a college.

ESMA will be a member of every college and according to Article 46(7) of the Regulation may give advice concerning the written arrangements. To promote the convergent operation of benchmark colleges, ESMA has developed model written arrangements that may be used by administrators of critical benchmarks according to Article 46(6) of the Regulation.

29/09/2016 2016/1407 ESMA consults on future rules for financial benchmarks , Press Release PDF
147.04 KB
29/09/2016 2016/1406 Draft technical standards under the Benchmarks Regulation Consultation Paper PDF
1.67 MB
29/09/2016 2016/1406 reply form Reply form to the Consultation paper on Benchmarks Reference DOCX
757.37 KB
03/06/2016 2016/723 RF Reply form for the Consultation Paper on ESMA technical advice on Benchmarks Regulation , Reference DOCX
784.51 KB