Article 3
Significant and adverse impact on financial stability
Competent authorities shall assess whether there is a significant and adverse impact on financial stability in accordance with the following criteria:
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(a) |
the value of financial instruments, financial contracts and investment funds that reference the benchmark, either directly or indirectly within a combination of benchmarks, in the Member States in question, both in absolute terms and relative to:
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(b) |
the vulnerability of financial institutions having signed or invested in financial instruments, financial contracts and investment funds that reference the benchmark. |