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.
Details
- Publication date
- 17 May 2021
- Location
- Brussels