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Financial market operations

DG ECFIN is in charge of implementing a number of EU financial programmes and instruments in close co-operation with major International Financial Institutions. In addition, it is responsible for financial market operations associated with the implementation of these programmes and instruments.

The financial market operations DG ECFIN carries out cover substantial off-budget and budgetary resources with an aggregate volume of about €6 billion.

DG ECFIN is in charge of the professional asset-management of off-budget financial assets, including the ECSC i.L. (European Coal and Steel Community in Liquidation) as well as the financial reserves of other instruments, the management of is entrusted to the Commission.

In addition, it carries out borrowing and lending operations. This comprises the contracting of new loans and borrowing plus management of existing loans and borrowing, including Macro-Financial Assistance (MFA) loans and Euratom loans.

These off-budget activities require professional risk management and accounting expertise. The accounting of the financial instruments is performed in line with the EU accounting rules based on the International Public Sector Accounting Standards (IPSAS) and the International Financial Reporting Standards (IFRS).

Finally, DG ECFIN is also responsible for the management of the Guarantee Fund for External Actions, which is set up to cover the risks to the general EU budget related to loans, and guarantees for loans, granted to non-Member States.

>> see also: The EU as borrower

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