Fall-back Benchmark Consultation
The New Zealand Financial Markets Association are consulting on a fall-back benchmark interest rate for BKBM. A fall-back benchmark interest rate is required to comply with the IOSCO Principles for Financial Benchmarks and ensure that BKBM will meet European Union Benchmark Regulation (EU BMR) equivalence from January 2020. This will ensure that the current benchmark, BKBM, remains fit for purpose, can be used by European supervised entities post 2020, and the necessary structures are in place should BKBM cease to exist at some point in the future.
The NZFMA welcomes submissions from any entity that either uses or is affected by New Zealand's interest rate benchmark. Submissions close at 5pm on Friday 1 March 2019 and should be sent to email@example.com .
NZFMA will be holding two seminars in late January to provide more background and to answer any questions from interested parties.
|Tuesday 29 January @ 1.30pm||Thursday 31 January @ 1.30pm|
|Level 18, ANZ Centre, 171 Featherston Street, Wellington||Level 18, PWC Tower, 188 Quay Street, Auckland|
The NZFMA encourages your attendance at these seminars. If you wish to attend please register via email to firstname.lastname@example.org by close of business Thursday 24 January.
If you have any questions or comments on the consultation or the seminars please do not hesitate to contact John Groom, Director Operations and Compliance at the NZFMA - email@example.com.