Legal provisions of COM(2022)596 - Amendment of Regulation (EU, Euratom) 2018/1046 as regards the establishment of a diversified funding strategy as a general borrowing method

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dossier COM(2022)596 - Amendment of Regulation (EU, Euratom) 2018/1046 as regards the establishment of a diversified funding strategy as a general ...
document COM(2022)596 EN
date December  6, 2022


Article 1

Regulation (EU, Euratom) 2018/1046 is amended as follows:

(1)in Article 220, paragraphs 2 and 7 are deleted;

(2)the following article is inserted:

‘Article 220a

Diversified funding strategy

1. The Commission shall implement a diversified funding strategy comprising the borrowings authorised under Article 5(1) of Council Decision (EU, Euratom) 2020/2053 (*1) and, except in duly justified cases, borrowing and debt management operations to fund programmes of financial assistance. The diversified funding strategy shall be implemented through all necessary transactions aiming at a regular capital market presence, shall be based on pooling of funding instruments and shall make use of a common liquidity pool.

2. The Commission shall establish the necessary arrangements for the implementation of the diversified funding strategy. The Commission shall regularly and comprehensively inform the European Parliament and the Council about all aspects of its borrowing and debt management strategy.

(*1)  Council Decision (EU, Euratom) 2020/2053 of 14 December 2020 on the system of own resources of the European Union and repealing Decision 2014/335/EU, Euratom (OJ L 424, 15.12.2020, p. 1).’."

Article 2

This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.

It shall apply to programmes of financial assistance for which the basic acts enter into force on or after 9 November 2022.

This Regulation shall be binding in its entirety and directly applicable in all Member States.