EACT Supports Cross-Industry Request for Extension of the Third Country Benchmarks Transition Period

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.

Download the paper (PDF)

View Document

Subscribe to the EACT Newsletter

News


EACT Newsletter - March 2021

Photo from EACT Newsletter - March 2021

The latest edition contains the European financial market regulatory round-up, a roundtable with GLEIF on the use of the LEI in treasury, and more information about the 2021 EACT Award

View More

Podcast | Central Bank Digital Currencies: What Treasurers Need to Know

Photo from Podcast | Central Bank Digital Currencies: What Treasurers Need to Know

Jean-Marc Servat, EACT, takes a deep dive into the world of crypto assets to discuss why Central Bank Digital Currencies (CBDCs) are capturing the attention of finance professionals.

View More

EACT Newsletter - December 2020

Photo from EACT Newsletter - December 2020

The latest edition contains the 2021 EACT Award, an interview with EACT Chair, Jean-Marc Servat, and more information about the upcoming Libor transition.

View More

EACT Joins Global Coalition to Fight Financial Crime

The EACT has become a member of the Global Coalition to Fight Financial Crime (GCFFC).

View More

Royal Avebe Wins First DACT Treasury Award

After an exciting battle, the winner of the DACT Treasury Award 2020 has been announced.

View More