ESMA · ESMA_QA_872 Answer Published

Templates in the benchmark statement and the methodology (ESMA70-145-114 QAs on BMR Q&A 10.7)

Regulation
Benchmarks Regulation (BMR) - Regulation 2016/1011
Topic
Climate Benchmarks
Submitted
2021-05-28
Answered
2021-05-28
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Question

Does an administrator have to use the templates provided in the Annex I of the Delegated Regulation (EU) 2020/1816 and the Annex of the Delegated Regulation (EU) 2020/1817 when it chooses to make the information available on its website?

Answer

No. Pursuant to Article 1(2) of the Delegated Regulation (EU) 2020/1817 and Article 2(3) of the Delegated Regulation (EU) 2020/1816, for individual benchmarks, administrators may, rather than providing all the information required in the template laid down in the Annexes of the said regulations, replace that information by a hyperlink to a website that contains all that information. This hyperlink can be included in the benchmark statement or in the key elements of the methodology. ESMA believes that these provisions aim at reducing the burden on administrators, who for example, provide a significant number of benchmarks or they have already in place a system that allows for the disclosure of the ESG factors. Therefore, with regard to item 6 of the Delegated Regulation (EU) 2020/1817 and item 7 of the Delegated Regulation (EU) 2020/1816, administrators are not required to amend the benchmark statement or the key elements of the methodology of each individual benchmark to include the templates as provided in the Annexes of the delegated regulations but they can simply provide a link to where the information can be found on their website.
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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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