Indices Used as Benchmarks in Financial Instruments: Initial Appraisal of the Commission's Impact Assessment

11-02-2014

This note seeks to provide an initial analysis of the European Commission's Impact Assessment (IA) accompanying its proposal for a regulation of the European Parliament and of the Council on indices used as benchmarks in financial instruments and financial contracts (COM (2013) 641), which was submitted in September 2013. It analyses whether the principal criteria laid down in the Commission’s own Impact Assessment Guidelines, as well as additional factors identified by the Parliament in its Impact Assessment Handbook, appear to be met by the IA. It does not attempt to deal with the substance of the proposal. It is drafted for informational and background purposes to assist the relevant parliamentary committee and Members more widely in their work.

This note seeks to provide an initial analysis of the European Commission's Impact Assessment (IA) accompanying its proposal for a regulation of the European Parliament and of the Council on indices used as benchmarks in financial instruments and financial contracts (COM (2013) 641), which was submitted in September 2013. It analyses whether the principal criteria laid down in the Commission’s own Impact Assessment Guidelines, as well as additional factors identified by the Parliament in its Impact Assessment Handbook, appear to be met by the IA. It does not attempt to deal with the substance of the proposal. It is drafted for informational and background purposes to assist the relevant parliamentary committee and Members more widely in their work.