+Article 13a 3.

Article 13a 3.

Paragraphs 1 and 2 shall apply only to OTC derivative contracts the amendment or novation of which:

(a) 

is necessary for the purpose of replacing a benchmark in the context of benchmark reforms;

(b) 

does not change the economic substance or risk factor represented by the reference to a benchmark in such contract; and

(c) 

does not encompass other changes to any legal term of that contract that does not relate to the benchmark referenced and thus potentially amends the contract in a way that effectively requires it to be considered a new contract.

1. Vue d’ensemble

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1.1 Références

1.2 Exigences identifiées

1.3 Normes associées

2. Exigences identifiées

Exigences

3. Normes associées

Normes