(a)

a contributor's transactions in the underlying market that a benchmark intends to measure or, if not sufficient, its transactions in related markets, such as:

(b)

a contributor's observations of third party transactions in the markets described in point (a);

(c)

committed quotes;

(d)

indicative quotes or expert judgements.

(a)

proximity of transactions to the time of provision of the input data and the impact of any market events between the time of the transactions and the time of provision of the input data;

(b)

interpolation or extrapolation from transactions data;

(c)

adjustments to reflect changes in the credit standing of the contributors and other market participants.

(a)

the administrator of an interest rate benchmark shall have in place an independent oversight committee. Details of the membership of that committee shall be made public, along with any declarations of any conflict of interest and the processes for election or nomination of its members;

(b)

the oversight committee shall hold no less than one meeting every four months and shall keep minutes of each such meeting;

(c)

the oversight committee shall operate with integrity and shall have all of the responsibilities provided for in Article 5(3).

(a)

an outline of responsibilities within each firm, including internal reporting lines and accountability, including the location of submitters and managers and the names of relevant individuals and alternates;

(b)

internal procedures for sign-off of contributions of input data;

(c)

disciplinary procedures in respect of attempts to manipulate, or any failure to report, actual or attempted manipulation by parties external to the contribution process;

(d)

effective conflicts of interest management procedures and communication controls, both within contributors and between contributors and other third parties, to avoid any inappropriate external influence over those responsible for submitting rates. Submitters shall work in locations physically separated from interest rate derivatives traders;

(e)

effective procedures to prevent or control the exchange of information between persons engaged in activities involving a risk of conflict of interest where the exchange of that information may affect the benchmark data contributed;

(f)

rules to avoid collusion among contributors, and between contributors and the benchmark administrators;

(g)

measures to prevent, or limit, any person from exercising inappropriate influence over the way in which persons involved in the provision of input data carries out those activities;

(h)

the removal of any direct link between the remuneration of employees involved in the provision of input data and the remuneration of, or revenues generated by, persons engaged in another activity, where a conflict of interest may arise in relation to those activities;

(i)

controls to identify any reverse transaction subsequent to the provision of input data.

(a)

all relevant aspects of contributions of input data;

(b)

the process governing input data determination and the sign-off of input data;

(c)

the names of submitters and their responsibilities;

(d)

any communications between the submitters and other persons, including internal and external traders and brokers, in relation to the determination or contribution of input data;

(e)

any interaction of submitters with the administrator or any calculation agent;

(f)

any queries regarding the input data and their outcome of those queries;

(g)

sensitivity reports for interest rate swap trading books and any other derivative trading book with a significant exposure to interest rate fixings in respect of input data.