(1)A new type of transaction of non-competitive auction allocation was introduced by Commission Implementing Decision (EU, Euratom) 2025/363note, which amended Commission Implementing Decision (EU, Euratom) 2023/2825note. As Implementing Decision (EU, Euratom) 2023/2825 establishes the arrangements for the administration and implementation of the Union borrowing and debt management operations, such a type of transaction should also be reflected in Commission Implementing Decision (EU) 2023/1602note which applies to any borrowing and debt management activity carried out by the Commission and which establishes the primary dealer network and lays down the rights and obligations of the members of the primary dealer network.
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