Recitals
- Recital (1)Reporting requirements play a key role in ensuring proper monitoring and correct enforcement of legislation. It is therefore important to…
- Recital (2)Under Regulation (EU) 2016/1011 of the European Parliament and of the Council, all administrators of benchmarks, regardless of the systemic…
- Recital (3)Administrators that would be excluded from the scope of application of Regulation (EU) 2016/1011 following the amendments introduced by…
- Recital (4)Regulation (EU) 2016/1011 empowers the Commission to exempt, under specific conditions, spot foreign exchange benchmarks. To ensure that…
- Recital (5)Pursuant to Article 19d of Regulation (EU) 2016/1011, administrators of significant benchmarks are required to endeavour to provide an EU…
- Recital (6)Benchmark administrators should monitor the use in the Union of the benchmarks they provide and notify the competent authority concerned or…
- Recital (7)To ensure that benchmark administrators have sufficient time to adapt to the requirements that apply to significant benchmarks, they should…
- Recital (8)Where a benchmark administrator fails to notify the competent authority concerned or ESMA, as applicable, that the use of one of its…
- Recital (9)However, in exceptional cases, there may be benchmarks with an aggregate use below the threshold laid down in Article 24(1), point (a), of…
- Recital (10)To ensure the consistency and coordination of national designations of benchmarks as significant benchmarks, competent authorities…
- Recital (11)In order to respect the right to be heard, a competent authority or ESMA should, before designating a benchmark as significant, allow the…
- Recital (12)For the designation of a benchmark as significant to be as transparent as possible, competent authorities or ESMA should issue a…
- Recital (13)The Commission should be empowered to adopt, after consulting ESMA, a delegated act to further specify the calculation method to determine…
- Recital (14)EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks are specific categories of benchmarks, defined by their compliance with…
- Recital (15)The regulatory treatment of commodity benchmarks should be tailored to their specific characteristics. Commodity benchmarks that are…
- Recital (16)To ensure a timely start to the supervision of significant benchmarks, administrators of benchmarks that have become significant should…
- Recital (17)In order to mitigate the risks linked to the use of benchmarks that are potentially not safe for use in the Union, and to warn potential…
- Recital (18)In order to avoid a potentially excessive market disruption following the prohibition of the use of a benchmark, competent authorities or…
- Recital (19)Under Regulation (EU) 2016/1011, the recognition of benchmark administrators located in a third country serves as a temporary means of…
- Recital (20)Benchmark administrators located in third countries that access the Union market under the recognition regime are currently centrally…
- Recital (21)Benchmarks covered by an equivalence decision are considered to be under regulation and supervision that are equivalent to those of Union…
- Recital (22)In the interest of transparency and in order to ensure legal certainty, competent authorities that designate a benchmark as significant…
- Recital (23)Benchmark users rely on transparency regarding the regulatory status of benchmarks they use or intend to use. For that reason, ESMA should…
- Recital (24)In order to enhance transparency around the use of benchmarks in the Union, administrators of benchmarks are encouraged, but not required,…
- Recital (25)In order to ensure a seamless transition to supervision by ESMA, measures should be taken to allow both the transfer of supervision of…
- Recital (26)In order to make sure that ESMA can effectively exercise its supervisory powers, it is necessary for it to be able to take supervisory…
- Recital (27)Regulation (EU) 2019/2089 of the European Parliament and of the Council has subjected all benchmarks other than interest rate and foreign…
- Recital (28)In order to ensure a seamless transition to the application of the rules introduced under this amending Regulation, existing registrations,…
- Recital (29)In order to allow the use of spot foreign exchange benchmarks to continue until such time as the Commission has conducted the required…
- Recital (30)Regulation (EU) 2016/1011 should therefore be amended accordingly.
- Recital (31)In order to give competent authorities and ESMA the necessary time to gather information on potential significant benchmarks and to adapt…
Text as published in the Official Journal; for the authentic version, see EUR-Lex.
