Considerations on COM(2025)253 - EU position regarding the envisaged decision of the Participants to the Arrangement on Officially Supported Export Credits on interest rate provisions

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dossier COM(2025)253 - EU position regarding the envisaged decision of the Participants to the Arrangement on Officially Supported Export Credits ...
document COM(2025)253 EN
date May 26, 2025
 
(1) The guidelines contained in the Arrangement on Officially Exported Export Credits (the ‘Arrangement’) have been transposed, and hence been made legally binding in the EU by virtue of Regulation (EU) No 1233/2011 of the European Parliament and of the Council 5 .

(2) The Participants must decide on a solution to amend the provisions in the Arrangement on CIRR margin establishement, following the discontinuation of LIBOR.

(3) The envisaged decision to amend the provisions on the CIRRs should provide greater clarity and harmonise lending practices, thereby enhancing the level playing field among Participants.

(4) It is appropriate to establish the position to be taken on the Union's behalf in the written procedure of the Participants to the Arrangement, as the envisaged decision will be capable of decisively influencing the content of Union law, by virtue of Article 1 of Regulation (EU) No 1233/2011.