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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 July 2021 - onwards
Version 2 of 2

11. Assessment of representativeness of critical benchmarks

(1) In Article 3(1) of the Benchmarks Regulation (definitions) -

(a) after point (10) insert -

"(10A) 'supervised third country contributor' means a supervised third country entity that contributes input data to an administrator located in the United Kingdom;", and

(b) after point (17) insert -

"(17A) 'supervised third country entity' means an entity that would be a supervised entity by virtue of point (a) of the definition of that term (CRR firm that is a credit institution) but for the fact that it does not have its head office or registered office in the United Kingdom;".

(2) After Article 22 of the Benchmarks Regulation insert -

"Article 22A

Assessment of representativeness of critical benchmarks: administrator

1. This Article applies to a critical benchmark that -

(a) is based on submissions by contributors the majority of which are supervised entities or supervised third country entities, and

(b) is not an Article 23A benchmark.