Since 1st January 2018, the European Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (“BMR”) is in force. Under BMR, PRIBOR is classified as a non-critical interest rate benchmark.
In 2017, the amendment of the Czech Capital Market Entrepreneurship Act extended the competency of the Czech National Bank to include benchmark regulation. The Czech National Bank thus became the competent authority supervising CFBF as the PRIBOR administrator.