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 - June 2021

Photo from EACT Newsletter - June 2021

The latest edition contains the first EACT in Action event and EACT Award 2021 results, cross border currency payment execution, and LIBOR transition preparation.

View More

Podcast | How to Streamline Customer Reference Data in Treasury Processes

Photo from Podcast | How to Streamline Customer Reference Data in Treasury Processes

A panel of experts consider how treasurers can streamline customer-reference data and due diligence processes in treasury applications.

View More

EACT in Action event 24 June - How to Streamline Customer Reference Data in Treasury Processes

Photo from EACT in Action event 24 June - How to Streamline Customer Reference Data in Treasury Processes

On 24 June the EACT organised the first event of its EACT in Action live event series, showcasing important issues that treasurers across the EACT community are tackling.

View More

EACT welcomes a new member: the Hellenic Association of Treasurers

Photo from EACT welcomes a new member: the Hellenic Association of Treasurers

HAT unites all Greek Treasury professionals, in Greece and abroad, as well as professionals interested in Greek Treasury developments.

View More

Podcast | Digitisation in a Post-Covid Environment

Photo from Podcast | Digitisation in a Post-Covid Environment

Today, treasurers and their systems vendors and banks, are taking a longer term, more strategic approach to digitisation, automation and data.

View More