Independent practitioner’s assurance report to the directors of ICE Benchmark Administration (‘IBA’ or the ‘Company’) in respect of the Company’s Statement of Compliance with Benchmarks Regulation (EU) 2016/1011 as onshored into domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended by, including but not limited to, The 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 the Benchmark Regulation (‘BMR’) with regards to its administration and calculation of the USD LIBOR, and the ICE Swap Rate, LBMA Gold and Silver Prices for the periods 1 January 2023 to 30 June 2023 and 1 January 2023 to 31 December 2023 respectively (the ‘Report’).
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 28 March 2024, 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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