benchmarks in financial contracts

European Commission Consultation on Benchmarks and Market Indices

On September 5, the European Commission launched a consultation inviting stakeholders to comment on possible new rules for the production and use of indices servicing as benchmarks in financial contracts.  The consultation covers all benchmarks, including commodities and real estate price indices, in addition to interest rate benchmarks such as LIBOR.  The consultation will run through November 15.  EC Release.  EC Consultation.