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Preamble
Recitals 72
Title I - SUBJECT MATTER, SCOPE AND DEFINITIONS (Article 1-3) 3
Title II - BENCHMARK INTEGRITY AND RELIABILITY (Article 4-16) 13
Title III - REQUIREMENTS FOR DIFFERENT TYPES OF BENCHMARKS (Article 17-25) 18
- Chapter 1 - Regulated-data benchmarks (Article 17) 1
- Chapter 2 - Interest rate benchmarks and spot foreign exchange benchmarks (Article 18-18a) 2
- Chapter 3 - Commodity benchmarks based on contributed input data (Article 19) 1
- Chapter 3A - EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks (Article 19a-19d) 4
- Chapter 4 - Critical benchmarks (Article 20-23) 4
- Chapter 4A - Statutory replacement of a benchmark (Article 23a-23c) 3
- Chapter 5 - Significant benchmarks (Article 24-25) 3
Title IV - TRANSPARENCY AND CONSUMER PROTECTION (Article 27-28a) 3
Title V - USE OF BENCHMARKS IN THE UNION (Article 29-33) 5
Title VI - AUTHORISATION, REGISTRATION AND SUPERVISION OF ADMINISTRATORS (Article 34-48n) 29
Title VII - DELEGATED AND IMPLEMENTING ACTS (Article 49-50) 2
Title VIII - TRANSITIONAL AND FINAL PROVISIONS (Article 51-59) 9
Annexes 3
Amending acts 6

Article 23a - Scope of the statutory replacement of a benchmark

Article 23a

Scope of the statutory replacement of a benchmark

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This Chapter applies to:

(a)

any contract, or any financial instrument as defined in Directive 2014/65/EU, that references a benchmark and is subject to the law of one of the Member States; and

(b)

any contract, the parties to which are all established in the Union, that references a benchmark and that is subject to the law of a third country and where that law does not provide for the orderly wind-down of a benchmark.

Official text · consolidated version 01/01/2026 (in force) Open full page ↗