Chapter 4, Article 13 · Commission Decision (EU, Euratom) 2021/625

Contents

Article 13Admission to primary dealer network#

1.The decision on whether to include an applicant in the list of the primary dealer network shall be adopted, at the latest, within two months of the submission of the relevant application. If an applicant is requested to submit additional information in accordance with paragraph 3 of Article 12, the time limit for a decision relating to that applicant shall be suspended until the date of submission of that additional information. If the applicant informs the Commission that it considers the application to be complete, the decision shall be adopted within two months. The decision shall be notified to the applicant.The non-admission decision shall state reasons on which it is based.

2.The up-dated list of members of the primary dealer network shall be published once a year in the Official Journal of the European Union.

3.In view of performing the annual review the primary dealers shall be invited to represent and declare to the Commission that they still fulfil all the eligibility criteria for the membership laid down in Article 4.

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Defined terms · 8

Show every defined term

affiliate
means any entity belonging to the same group as defined by Article 2(12) of Directive 2002/87/EC.
auction
means the issuance process of the Union and Euratom debt securities based on competitive bids through an auction platform on primary market;
borrowing programmes
means the Union and the Euratom programmes involving borrowing activities on the financial markets, in particular, financial assistance decided in accordance with Regulation (EU) No 407/2010, Regulation (EC) No 332/2002, the Decisions of the European Parliament and of the Council providing macro-financial assistance to various countries on the basis of a provisioning in accordance with Regulation (EC, Euratom) No 480/2009 or Decision (EU) 2020/701, as well as Regulation (EU) 2020/672, the Euratom programme under Decision 77/270/Euratom, and borrowing on the basis of Article 5 of Decision (EU, Euratom) 2020/2053;
credit institution
means credit institution as defined in Article 4, paragraph 1 (1), of Regulation (EU) No 575/2013 of the European Parliament and of the Council;
debt securities
means notes and/or short term financial instruments, such as treasury bills, as well as any other financial instrument, issued by the Union and/or the Euratom;
European supranational issuer
means the Council of Europe Development Bank, the European Financial Stability Facility, European Stability Mechanism, the European Investment Bank and the Nordic Investment Bank;
Investment firms
means investment firms as defined in Article 4(1), point 1 of Directive 2014/65/EU of the European Parliament and of the Council;
members of the primary dealer network
means any credit institutions or investment firms fulfilling the eligibility criteria set out in Article 4 and included in the list referred to in Article 11;