Requirements on Panel Banks and Input Data
This page contains information about the Nibor Framework which was revised in 2019 to accommodate the requirements in the EU Benchmarks Regulation (BMR) as from 1 January 2020.
NoRe is authorised by the Norwegian Financial Supervisory Authority, pursuant to Article 34 of BMR, and is as such included in the register The European Securities and Markets Authority, ESMA, is publishing in accordance with Article 36 of the BMR.
According to the definitions in BMR, Nibor is an ‘interest rate benchmark’. Furthermore, Nibor has been assessed and recognised by the European Commission as a critical benchmark as referred to in point (b) of BMR Article 20(1).
Following Article 7 of BMR an administrator of a critical benchmark shall appoint an independent external auditor to review and report on the
administrator’s compliance with the benchmark methodology and BMR, at least annually. Upon the request of any user of the benchmark, the
administrator shall publish the details of the audits. NoRe advises that any user of Nibor who requests such information applies this contact scheme.