Guidance for Member States on Interest and Other Gains Generated by ESI Funds support paid to FI (Article 43 CPR)

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Available languages : English
Period : 2014-2020
Date : 17/02/2016

The purpose of the present guidance note is to clarify how Member States should deal with interest or other gains generated from the investment of ESI Funds contributions to financial instruments (FI).

In the context of ESI Funds, the term 'treasury management' is used in relation to Article 43 CPR which provides for investing the ESI Funds contribution to a FI following the principles of sound financial management, and regulates the use of interest and other gains generated thereto.

It is important to underline that the provisions of Article 43:

  • concern only gains that are attributable to the ESI Funds support paid into the financial instrument, and not to other sources of contribution into the FI;
  • they are applicable only to the ESI Funds support paid into the FI, at the level of a Fund of Funds or financial intermediary, that is not yet invested in final recipients (i.e. do not apply to the re-use of resources paid back into the FI which are referred to in Article 44 CPR).

Gains and other earnings attributable to support from ESI Funds which are generated from the investments made by the FI into final recipients, or from temporary investments of the resources paid back to the FI pursuant to Articles 44 and 45 CPR, are not the subject of this guidance note.

More information :

Guidance on European Structural and Investment Funds 2014-2020