The Fédération Bancaire Française
("FBF") published in February 2020, two new sets of
documentation to enable users of the FBF market documentation to
comply with the requirements of Regulation (EU) 2016/1011 of June
8, 2016, on indices used as benchmarks in financial instruments and
financial contracts ("EU Benchmarks Regulation").
The FBF published a new Technical Schedule ("Benchmarks
Event Technical Schedule") providing for fallbacks following
the occurrence of trigger events affecting interest rates, FX, and
equity indices used in transactions governed by an FBF Master
Agreement. Members of the FBF working group were keen to adopt
harmonized solutions, consistent with those published by the
International Swaps and Derivatives Association, Inc.
("ISDA") in the 2018 Benchmarks Supplement.
