The European Parliament is scheduled to consider the Regulation on indices used as benchmarks in financial instruments and financial contracts (Benchmark Regulation) on 7 -10 September 2015. The Council of EU issued a press release stating that its Permanent Representatives Committee (COREPER) agreed the Council's negotiating position on the Benchmark Regulation. The Council had sent an "I" item note to COREPER (Part 2) recommending the negotiating mandate, as set out in the Annex. The Council's press release confirms that COREPER has adopted the text in the "I" item note as the Council's negotiating position. An ECON report is due to issue in March. The European Commission has published a press release welcoming the Council's action. It states that it expects a final agreement on the Benchmark Regulation by summer 2015.