Benchmarks Regulation and Draft: Difference between pages

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imported>Doug Williamson
(Add 2nd definition. Source: FCA https://www.fca.org.uk/publication/policy/benchmarks-regulation-proposed-amendments-financial-services-bill.pdf)
 
imported>P.F.cowdell@shu.ac.uk
m (Categorise the page)
 
Line 1: Line 1:
(BMR).
''Documentation.''
 
1. ''Interest rates - reference rates - European Union.''
 
Regulation (EU) 2016/1011 of the European Parliament and of the EU Council of 2016.
 
 
The Benchmarks Regulation relates to indices used:
*As benchmarks in financial instruments and financial contracts or
*To measure the performance of investment funds.
 
 
The Benchmarks Regulation imposed new requirements on firms that provide, contribute to or use a wide range of interest rate, currency, securities, commodity and other indices and reference prices.
 
Most of the new rules apply with effect from 1 January 2018, but some provisions relating to critical benchmarks were brought into effect earlier.
 
The rules present a significant implementation challenge, particularly where EU firms reference non-EU benchmarks in securities or derivatives, or use them in the management of investment funds.
 
 
2. ''Interest rates - reference rates - UK.''
 
The Benchmark Regulation as applicable in the UK since the end of the Brexit Transition period on 31 December 2020, as part of retained EU law in the UK.


A written order from one party (the drawer) to another (the drawee) to pay a party identified on the order (payee) or the bearer a specified sum, either on demand (sight draft) or on a specified date (time draft).


== See also ==
== See also ==
* [[Base rate]]
* [[Bank draft]]
* [[Benchmark]]
* [[Banker's acceptance]]
* [[EURIBOR]]
* [[Cheque]]
* [[Interest rate]]
* [[Documentary collection]]
* [[LIBOR]]
* [[Payable through draft ]]
* [[Pre-€STR]]
* [[Trade acceptance]]
* [[Reference rate]]
* [[Regulation]]
* [[Retained EU law]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Bank_Lending]]
[[Category:Trade_Finance]]
[[Category:Short-Term_Liquidity]]

Revision as of 20:01, 17 August 2014

Documentation.

A written order from one party (the drawer) to another (the drawee) to pay a party identified on the order (payee) or the bearer a specified sum, either on demand (sight draft) or on a specified date (time draft).

See also

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