Credit Signal-Based Benchmark Family Statement

This document is a Benchmark Statement for the Credit – Signal-Based Benchmark Family developed by Morgan Stanley & Co. International Plc (MSIP). It outlines the benchmarks that MSIP calculates and publishes, which are categorized as Non-Significant Benchmarks under Regulation (EU) 2016/1011. The statement provides key information about the benchmarks, including their use in financial products and the types of instruments they may comprise, such as equity, currency, interest rate, credit, and commodity instruments. It details the input data used for benchmark calculations, which primarily consists of publicly observable data. The document also describes the methodology for benchmark determination, including the rationale for adopting specific methodologies, the procedures for review and approval, and the control framework in place to ensure compliance with regulations. Additionally, it addresses the limitations of benchmarks and the impact of market conditions on their reliability, as well as the procedures for handling errors and changes in methodology.