The EU Council has announced that an agreement has been reached with the European Parliament on the proposed Benchmark Regulation. According to the Council’s press release, key issues relating to the agreement concerned the categorisation of benchmarks and the third country regime, which will allow third country indices to continue to be used in the EU. The Council states that the agreement will be formalised by Member States at a meeting of the COREPER on 9 December 2015. The deal will also need to be approved formally by the European Parliament's Committee on Economic and Monetary Affairs (ECON).