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🔗 Back to Summary. 🇫🇷 French Version: 2016R1011_FR.18 bis. Open the PDF. Direct link to EUR-LEX.
Article 18 – Interest rate benchmarks ⬅️ | ➡️ Article 19 – Commodity benchmarks
Article 18a - Spot foreign exchange benchmarks
1.
The Commission may designate a spot foreign exchange benchmark that is administered by administrators located outside the Union where both of the following criteria are fulfilled:
(a)
the spot foreign exchange benchmark references a spot exchange rate of a third-country currency that is not freely convertible; and
(b)
the spot foreign exchange benchmark is used on a frequent, systematic and regular basis to hedge against adverse foreign exchange rate movements.
2.
By 31 December 2022, the Commission shall conduct a public consultation to identify spot foreign exchange benchmarks that fulfil the criteria laid down in paragraph 1.
3.
By 15 June 2023, the Commission shall adopt a delegated act in accordance with Article 49 to create a list of spot foreign exchange benchmarks that fulfil the criteria laid down in paragraph 1 of this Article. The Commission shall update that list as appropriate.