The European Parliament has published a report on the proposal for a regulation of the European Parliament and of the Council amending the Benchmarks Regulation with regard to the scope of the rules for benchmarks, the use in the Union of benchmarks provided by an administrator located in a third country, and certain reporting requirements.

FCA has issued a reminder that it is now one month until the 3-month synthetic sterling LIBOR setting ceases permanently on 28 March 2024.  Alongside this, FCA has published its review under Article 23E of the Benchmarks Regulation which concludes that the way in which it has exercised its power for 3-month sterling LIBOR has advanced both the regulator’s consumer protection and integrity objectives.  FCA also reminds stakeholders of the expected cessation of US dollar synthetic LIBOR at the end of September 2024.

The following has been published in the Official Journal: Commission Delegated Regulation (EU) 2024/363 of 11 October 2023 amending the regulatory technical standards laid down in Delegated Regulation (EU) 2015/2205 as regards the transition to the TONA and SOFR benchmarks referenced in certain OTC derivative contracts.

ECON has published a draft report on proposals to amend the Benchmarks Regulation with regard to the scope of the rules for  benchmarks, the use in the Union of benchmarks provided by an administrator located in a third country, and certain reporting requirements.