Financial institution obtains assistance in drafting information notice relating to transaction documentation

Client(s) Financial institution

On behalf of a financial institution, Jones Day drafted an information notice intended to be circulated to the institution's clients who have entered into derivatives transactions documented under standard documentation published by the Fédération Bancaire Française ("FBF"). This information note takes the form of frequently asked questions and describes the key stipulations of the new "Benchmarks Events" technical schedule published by the FBF, which provides for fallbacks in the event of an index cessation or a conformity event. The purpose of this documentation is to facilitate compliance with the EU Benchmarks Regulation.