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Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (recast) article 222 CELEX: 32024R2509 Implementation of budgetary guarantees
1. Budgetary guarantees shall be irrevocable, unconditional and on demand for the types of operations covered. 2. Budgetary guarantees shall be implemented pursuant to Article 62(1), first subparagraph, point (c), or, in exceptional cases, pursuant to Article 62(1), first subparagraph, point (a). 3. A budgetary guarantee shall only cover financing and investment operations which comply with Article 212(2), first subparagraph, points (a) to (d). 4. Counterparts shall contribute with their own resources to the operations covered by the budgetary guarantee. 5. The Commission shall conclude a guarantee agreement with the counterpart. The granting of the budgetary guarantee is subject to the entry into force of the guarantee agreement. |
Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (recast) article 222 CELEX: 32024R2509 6. Counterparts shall provide the Commission annually with: (a) a risk assessment and grading information concerning the operations covered by the budgetary guarantee as well as expected defaults; (b) information on the outstanding financial obligation arising for the Union from the budgetary guarantee, broken down by individual operations; (c) the total profits or losses deriving from the operations covered by the budgetary guarantee. |