The EU to use the TELSAT auction platform by Banque de France for its auctions as of September 2021

The EU has decided to use the auction system TELSAT operated by Banque de France for its EU-Bills and part of its long-term EU-Bonds. This decision provides the Commission with access to “state-of-the-art” infrastructure for its auctions, which will start in September 2021.

The European Commission – the EU’s executive arm – will issue, on behalf of the EU – up to around €800 billion between now and end-2026, to finance the EU’s recovery under the NextGenerationEU instrument. This translates into borrowing volumes of on average roughly €150 billion per year.

On 14 April 2021, the European Commission outlined its plans to use a diversified funding strategy to carry out the borrowing operations for the recovery. The choice of an auction platform is an important step in the implementation of this strategy.