(7)On 10 October 2018, the Polish competent authority, Komisja Nadzoru Finansowego (‘KNF’), notified the European Securities and Markets Authority (‘ESMA’) of its proposal to recognise the Warsaw Interbank Offered Rate (‘WIBOR’) as a critical benchmark, under point (b) of Article 20(1) of Regulation (EU) 2016/1011, because it is critical in Poland and it is based on submissions of contributors, all of which are located in Poland.