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Statement of compliance with the IOSCO principles for financial benchmarks

You have requested access to a copy of a report prepared by PwC on the description by management of the governance, quality and accountability activities placed in operation over the euro short-term rate (€STR) to address the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks as at 15 July 2020 (the “report”). The European Central Bank (ECB), to whom the report is addressed, has asked that a copy of the report may be provided to you. PwC has consented to the release of the report to you on the condition that you accept and agree to the terms below.

By clicking on the “I ACCEPT” button below, you confirm the following:

You accept and agree for and on behalf of yourself and the entity you represent (each a "recipient") that:

  1. The report was prepared on the basis of an engagement between ECB and PwC and it is intended solely for the information and purposes of ECB. PwC’s responsibility for the report is exclusively towards ECB. PwC assumes no responsibility, duty of care or liability for the report towards any third party – including you - in particular, we make no representation whether the report is sufficient or appropriate for purposes of any third party. If a third party considers the report to be relevant for its own purposes, any use of the report shall be at the sole risk of the third party. The aforementioned conditions shall however not apply in case of willful misconduct (vorsätzliches Verhalten) of PwC. Deviating terms and conditions shall only apply if specifically agreed in writing between PwC and a third party.
  2. We have not carried out any work or made any enquiries since the date of the report. The report does not incorporate the effects, if any, of events and circumstances which may have occurred or information which may have come to light subsequent to that date. We make no representation as to whether, had we carried out such work or made such enquiries, there would have been a material effect on the report. Further, we have no obligation to notify you if any matters come to our attention, which might affect the continuing validity of the comments or conclusions in the report.
  3. The report is confidential and shall not, in whole or in part, be disclosed to any third party or be published or referred to in a public document, the Internet or any other public media. The rights of statutory auditors remain unaffected.
  4. These terms and any dispute arising from them, whether contractual or non-contractual, are subject to German law and the exclusive jurisdiction of the courts of Frankfurt am Main.