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Financial Regulation and Rules of Application

The Financial Regulation (FR) is the main point of reference for the principles and procedures governing the establishment and implementation of the EU budget and the control of the European Communities’ finances.

From 1 January 2013, a new FR is applied, which is accompanied by new Rules of Application (RAP) and which replace the former Implementing Rules (IR). The RAP contain more detailed and technical rules, which are essential for the day to day implementation of the FR.

The revised Financial Regulation and its Rules of Application have addressed the major concerns expressed in the public consultation and have brought changes in terms of:

  • simplification: cutting red tape, speeding up procedures, in particular the time-to-grant, and shifting the focus from paperwork to performance;
  • accountability: ensuring enhanced sound financial management and the protection of the EU's financial interests;
  • leverage: introducing financial mechanisms which will enable the mobilisation of third-party funds as leverage on EU funds.

A more detailed overview of the revised FR can be found in the MEMO/12/795 published on 29/10/2012 (EN).

Financial Regulation applicable to the general budget of the Union and its rules of application

For the previous financial regulations and implementation rules, click here

Proposal for amendment Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU, EURATOM) No 966/2012 on the financial rules applicable to the general budget of the Union
COM (2014) 358 bg cs da de et el en es fr hr it lv lt hu mt nl pl pt ro sk sl fi sv
Annex - Press release -
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REGULATION THE EUROPEAN PARLIAMENT AND OF THE COUNCIL REGULATION (EU, EURATOM) No 966/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002
Official Journal L298 OF 26/10/2012 bg cs da de et el en es fr it lv lt hu mt nl pl pt ro sk sl fi sv
Annex - Press release -
Description -
COMMISSION DELEGATED REGULATION Commission Delegated Regulation (EU) No 1268/2012 of 29 October 2012 on the rules of application of Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council on the financial rules applicable to the general budget of the Union
Official Journal L362 OF 31/12/2012 bg cs da de et el en es fr it lv lt hu mt nl pl pt ro sk sl fi sv
Annex - Press release -
Description -
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