Independent practitioner’s assurance report to the directors of ICE Benchmark Administration Limited (the ‘Company’) in respect of the Company’s Statement of Compliance with the EU Benchmarks Regulation (2016/1011) and the UK Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (‘BMR’) and adherence to the published benchmark methodologies.
Ernst & Young LLP (‘we’ or ‘EY’) have been requested by the Company to provide you, the recipient company, firm, or organisation (‘Recipient’), with a copy of the report we prepared, on the Company’s instructions, on the Company’s report on adherence to its published benchmark methodologies and it’s compliance with EU Benchmarks Regulation (‘BMR’) with regards to its administration and calculation of LIBOR, ICE Swap Rate, LBMA Gold Price and LBMA Silver Price for the period 1 December 2020 to 31 December 2021 (the ‘Report’) and Term SONIA Reference rate as at 31 December 2021.
The Report was prepared solely for the use of the Company and addressed issues specific to it. Accordingly, we may not have addressed issues of relevance to you. Further, the Report was concluded on 31 May 2022, and we have not undertaken any further work since that time.
Material events may therefore have occurred which will not be reflected in the Report.
Whilst we are prepared to provide a copy of the Report to the Recipients, it is only on the basis that the Recipients acknowledge and agree that:
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