The FCA shall assess whether there is a significant and adverse impact on financial stability in accordance with the following criteria:

(a) the value of financial instruments, financial contracts and investment funds that reference the benchmark, either directly or indirectly within a combination of benchmarks, in the United Kingdom, both in absolute terms and relative to:

(i) the total assets of the financial sector in the United Kingdom;

(ii) the total assets of the banking sector in the United Kingdom;

(b) the vulnerability of financial institutions having signed or invested in financial instruments, financial contracts and investment funds that reference the benchmark.