WMR Closing Spot Rate Benchmarks (as at 4pm UK time) to be designated Critical Benchmarks
On 22 October, His Majesty’s Treasury (HMT) published a notice, advising that the Statutory Instrument to designate WMR Closing Spot Rate Benchmarks (also known as the WMR London 4pm Closing Spot Rates) as Critical Benchmarks under UK Benchmark Regulation (UK BMR) has been laid in Parliament. The designation will become effective on 13 November 2024. The Statutory Instrument and accompanying documents can be found here: The Critical Benchmarks Regulations 2024.
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