The signatories of this paper believe it is critically important that the transition period for third country benchmarks under the Benchmarks Regulation (BMR) should be extended beyond the end of 2021 to end-2025. Non-financial companies rely on third country financial benchmarks to hedge financial risks arising from their commercial activities. This is for instance the case with non-deliverable forward FX contracts. Extending the transition period for use of third country benchmarks in the EU – thereby allowing for more time to reform the BMR – would avoid the disruptive impact a prohibition on use of such rates would have on corporate commercial risk mitigation activities.
As a new chapter is opening for the European Union, with a new European Commission soon in place and a new European Parliament now elected, it is time for some fresh thinking to set up the EU economy for success and competitiveness.
View MoreAs adoption of real-time and other payment types increases across the globe, fraud detection strategies must also evolve. In parallel, the regulatory bodies overseeing payments are adapting their requirements.
View MoreEACT Board Member, Guillermo De La Fuente has been selected as member of the European Banking Authority (EBA)'s Stakeholder Group.
View MoreThis year, we received circa 250 answers from Group Treasurers of the largest international companies across Europe. We are delighted to share the results with you.
View MoreThe Italian association (AITI) are pleased to share a survey on sustainable supply chain finance. All EACT members are invited to take part.
View More