Regional Policy Implementing Acts

Regional Policy 33(3)(a):FI complying with standard terms and conditions – "off the shelf" instruments  To facilitate and speed up the design and management of the most commonly used financial instruments, e.g. in specific sectors, and to ensure the highest possible degree of alignment with the EU level instruments.  They should be flexible enough to cater for the needs of regions and MAs; Their terms and conditions should be simple and clear, based on lessons learnt; They should provide the rationale for a given instrument, the technical requirements, compliance with the state aid regimes and procurement rules.  To some extent the above principles point in different directions, so an appropriate balance needs to be struck (for instance between the need for simplicity and the aim to cover the multiple situations of the different regions).  More details will follow soon… 2

Regional Policy 33(9): Transfer and management of programme contributions  Where FI receive support from >1 ESIF-programme or priority axis or measure separate accounts or an adequate accounting to distinguish the contributions must be kept + a single managing authority and a single audit authority need to be appointed.  Where national public or private contributions are made at the level of final recipients, they are eligible under several conditions (e.g. evidence of the legal agreement with the body implementing the FI, the overall responsibility of the latter; evidence of the transfer, subject to formal reporting and audit down to the level of the payment of the national contribution to or by the final recipient).  MS and MA can withdraw contributions from operational programmes to financial instruments only if such contributions are not yet reimbursed by the Commission; Conditions for a possible withdrawal (in part or in full) should be included in funding agreements. 3

Regional Policy 36(5): Calculating management costs and fees  Performance-based calculation methodology to ensure alignment of interest between the MA and bodies implementing FI should take into account financial performance and quality of support provided to final recipients.  It should be included in the funding agreement and the monitoring committee is to be informed and to receive reports on the management costs and fees effectively paid from programme contributions every six months.  Breakdown into base remuneration (with a ceiling for all FI) and performance-based remuneration (with different ceilings for different types of investments).The ceilings could be exceeded when the body implementing the FI were selected through a competitive tender and higher percentage was agreed.  Capitalisation of management costs and fees for equity-based instruments and micro-credit pursuant to Article 36(2) of the CPR. 4