Translation of "Fonds réservés aux engagements électoraux " (French → English) :

Where the losses cannot be passed to other creditors, the Fund may make a contribution to the entity under resolution subject to a number of strict conditions including the requirement that losses totalling not less than 8% of total liabilities including own funds have already been bailed in, and the funding provided by the resolution fund is limited to the lower of 5% of total liabilities including own funds or the means available to the Fund and the amount that can be raised through ex post contributions within a period of three years.

The commitment appropriations may be entered in the budget over and above the ceilings of the relevant headings laid down in the MFF where it is necessary to use the resources from the Emergency Aid Reserve, the European Union Solidarity Fund, the Flexibility Instrument, the European Globalisation Adjustment Fund, the Contingency Margin, the specific flexibility to tackle youth unemployment and strengthen research and the global margin for commitments for growth and employment, in particular youth employment, in accordance with Council Regulation (EC) No 2012/2002 , Regulation (EC) No 1927/2006 of the European Parliament and of the Council , and the Interinstitutional Agreement between t ...[+++]he European Parliament, the Council and the Commission

In order to mobilise the Fund, the Commission has submitted to the Budget Authority a transfer request (DEC48/2009) for a global amount of EUR 15.931.423 from the EGF reserve (40 02 43) in commitments and from ESF budget lines (04 02 17 - ESF convergence) in payments to the EGF budget lines (04 05 01) for commitments and payments.

To the extent that the following classes of financial assets and liabilities are not included under direct investment or reserve assets, other investment includes: (a) Other equity; (b) Currency and deposits; (c) Loans (including use of IMF credit and loans from the IMF); (d) Insurance, pension and standardised guarantee schemes; (e) Trade credit and advances; (f) Other accounts receivable/payable; and (g) SDR allocations (SDR holdings are included in reserve assets).

It is not acceptable that the rift between the pledges and promises made by the European Union on the one hand, and the reserved funding on the other hand, should be as huge as it is now threatening to become.

Despite the inclusion in this chapter of a specific budget line in support for democratic transition and the supervision of electoral processes(B7-709), the funds allocated are not sufficient to cover all electoral assistance and observation commitments the Community is expecting to face in each financial year.