1.An administrator shall keep records of:
(a)all input data, including the use of such data;
(b)the methodology used for the determination of a benchmark;
(c)any exercise of judgement or discretion by the administrator and, where applicable, by assessors, in the determination of a benchmark, including the reasoning for said judgement or discretion;
(d)the disregard of any input data, in particular where it conformed to the requirements of the benchmark methodology, and the rationale for such disregard;
(e)other changes in or deviations from standard procedures and methodologies, including those made during periods of market stress or disruption;
(f)the identities of the submitters and of the natural persons employed by the administrator for the determination of a benchmark;
(g)all documents relating to any complaint, including those submitted by a complainant; and
(h)telephone conversations or electronic communications between any person employed by the administrator and contributors or submitters in respect of a benchmark.
2.An administrator shall keep the records set out in paragraph 1 for at least five years in such a form that it is possible to replicate and fully understand the determination of a benchmark and enable an audit or evaluation of input data, calculations, judgements and discretion. Records of telephone conversation or electronic communications recorded in accordance with point (h) of paragraph 1 shall be provided to the persons involved in the conversation or communication upon request and shall be kept for a period of three years.