Key Benefits:
Rules of the Ministers of Finance, Home Affairs and the Relations and Infrastructure and Environment of 5 December 2013 laying down rules for the implementation of the compulsory treasury banking system for territorial authorities (Scheme) Treasury Banking and Local Government Banking
The Ministers of Finance, Internal Affairs and KingdomRelations and Infrastructure and the Environment,
Having regard to Article 2 (4) , and Article 2b, second and third paragraphs, of the Financing of Local Authorities ;
Decisions:
For the purposes of this arrangement:
current market value: the value that can be calculated from the current market rate of the remaining maturities of the future cash flows (interest and redemption) of a deposit;
Agency: the Agency of the Generale Thesaurie of the Ministry of Finance;
Base point: One hundredth of one percent (0,01%);
Guarantee: the right of a third party to have at its disposal a maximum agreed amount of a public entity, on the first call, which holds funds at the national treasury, in current accounts;
Deposit: the credit amount on a current account linked to the current account, on which a pre-fixed interest rate is remunerated and for which the public body does not have the freedom to free it for a period fixed in advance;
Overnight interest rate: the daily determination by the European Central Bank of the interest rate at which overnight and non-collateralised cash has been lent in the euro money market by a panel of banks (EONIA, rounded to 2 decimal places);
DSL interest: the interest rate for Dutch State loans of various maturities, fixed on a daily basis by a commercial platform appointed by the Minister of Finance for Dutch State loans;
DTC rate: the interest rate for Dutch Treasury Certificates of various maturities established on a daily basis by an electronic trading platform appointed by the Minister of Finance for Dutch Treasury Certificates;
intra-day limit: the maximum amount that may be red in the day on the intermediate account;
Current account: current account at the Ministry of Finance;
intermediate account: the account that the public body maintains to a bank through which the zero-balancing takes place;
Law: The Law financing decentralised authorities ;
Zero-balancing: the discharge or the collection of the intermediate account, or in favour of the current account.
1 The public body has an intermediate account with one or more banks on its own behalf.
2 The public body shall provide the State with an authorisation for the intermediate account by which the State can perform the zero-balancing. For this purpose, the public body shall sign the bank authorisation as drawn up by the State in favour of the bank in question.
3 The intermediate account shall have an intra-day limit to be determined by the public body, in consultation with the State.
4 The intermediate account may be used by the public body only for the purpose of zero-balancing. The Minister of Finance may allow a public body to use the Intermediate Account for purposes other than zero-balancing.
5 For the benefit of the suspendeaccount, public authorities shall, preferably not later than 3.30 p.m., be carried out by public bodies.
6 All costs associated with the intermediary account that banks charge to the public body for the account of the public body.
1 The state opens on behalf of the public body a current account, on which the public body is the under Article 2 of the Act the means to which it relates.
2 The state is responsible for the processing of the mutations at the current account.
3 A current account debit position is not permitted.
1 A public body may associate a deposit account with the current account.
2 The maturity of a deposit is at least equal to 2 days and maximum equal to 30 years.
3 The early release of a deposit shall be possible only if the funds, or some of them, are required for the exercise of the public function of the deposit. Article 2, first paragraph, of the Act . The advance release is made at the current market value, which is calculated according to the calculation included in the calculation. Annex 1 to the Rules of Procedure-Current and loan management .
1 The model agreement referred to in Article 2b, second paragraph, of the Act , is included in the list of Annex .
2 The State shall use the information available to it under the current account agreement solely for the purposes of the execution of the current account and the accounts to be provided.
1 On the funds held in current accounts, the daily cash allowance shall be reimbursed.
2 On a deposit, an interest rate is remunerated for which the amount depends on the maturity of the deposit, where a deposit with a maturity of up to 12 months is remunerated at an interest rate equal to that of the deposit hearing DTC interest, and for a deposit with a maturity of more than 12 months an interest rate will be remunerated equal to the DSL interest rate at that maturity.
3 If the interest rate referred to in the first and second paragraphs is negative, the relevant interest rate shall be set equal to zero.
4 On a debit position in the current account, an interest rate equal to the overnight interest rate is charged, plus a penalty of 100 basis points. If the overnight interest rate is negative, the interest rate is set to 100 basis points.
5 In the calculation of interest rates, if the agreed interest rate period is equal to one year, the period for which the interest relates to the correct number of days is set and the year is set at 360 days ('actual/360 ').
If the agreed interest rate period is at least equal to one year and a day is set both the year and the period to which the interest relates to the correct number of days, resulting in the formula 'actual/actual'.
1 Except for the obligation to be held in the State Treasury, the following are:
a. To the extent that, in respect of a quarter, the funds shall not exceed, on average, the threshold referred to in the second paragraph;
b. Funds held in the funds referred to in Article 15.47 of the Environmental Protection Act ;
c. Means on a G Account as intended in Article 1 (k) of the Implementing Rules on Lenders, Chain and Command Limits 2004 .
2 The threshold amount referred to in paragraph 1 (a) shall be determined on the basis of the budget total of the public body. For public bodies with a budget total less than or equal to € 500 million, the threshold amount is equal to 0,75% of the budget total, where the threshold amount is a minimum of € 250,000. For public bodies with a budget total of more than € 500 million, the threshold is equal to € 3.75 million, plus 0.2% of the budget total that exceeds € 500 million.
The Minister of Finance may grant a guarantee to third parties on funds held by a public body in the State Treasury, provided that the public body has so requested and the funds which it holds in the State Treasury are requested to do so. adequate.
1 The Minister of Finance may, at his request, exempt a public body from the obligation to Article 2 , if any of the following conditions exist:
(a) The public body does not have an own bank account;
(b) The public body shall keep the Article 2 of the Act the current funds on the current account of another public body in the State Treasury.
2 A list of public bodies other than those of the first paragraph shall be published on the Agency's website. A public body other than that on the basis of paragraph 1 shall inform the Agency as soon as possible of any change in the circumstances under which the derogation was granted.
1 For the quarter in which this arrangement enters into force, the amount of funds raised by public bodies under Article 7, first paragraph , outside the State Treasury may hold not be calculated over the whole quarter, but in 31 days.
2 Funds on an overnight savings account which provides that over a specified period of time the financial institution in which the savings account is held reimburses a bonus interest (bonus savings accounts) are except for the obligation to hold these in the State Treasury until 31 December 2013.
3 The Minister of Finance may grant an exception to a public body expected to cease shortly after the entry into force of this arrangement, as referred to in Article 9, first paragraph . In addition, the Minister of Finance can exempt the funds of this public body for a certain period of time from the obligation to keep them in the State Treasury.
This arrangement comes into force at the time of the entry into force of the law amending the Law on territorial authorities in respect of the interest-bearing holdings of liquid assets in the State Treasury (compulsory treasury).
This arrangement is cited as: The decentralised authorities of the Treasury banking system.
This arrangement will be set out in the Official Journal.
TheMinister
of Finance,J.R.V.A. Dijsselbloem
TheMinister
from Home Affairs and Kingdom Relations,R.H.A. Plastrong
TheMinister
of Infrastructure and the Environment,M.H. Schultz van Haegen-Maas Geesteranus
Between
<
AND
THE STATE OF THE NETHERLANDS
The Parties shall:I. The State of the Netherlands (Ministry of Finance, Generale Thesaurie Agency), validly represented by < < Name of agent, agent > > (hereinafter referred to as: the State);
II. The < < Public body > >, having its registered office < < Name Statues of Staff Regulations > >;
a. On the basis of Article 2, first paragraph, of the Financing of Local Authorities the public body must hold its liquid assets in the State Treasury;
b. The holding of funds in the treasury can take place in the form of a current account or deposit as intended in the Articles 3 and 4 of the Arrangement Treasury Banking decentralised authorities ;
c. the state on behalf of the public body will open one or more accounts courtside, which is linked to one or multiple suspenal accounts as intended in Article 2 of the Code of Treasury Banking decentralised authorities , from the public body;
d. the public body on the basis of Article 2b, second paragraph, of the Financing of Local Authorities has an account brokerage agreement with the State of the Netherlands.
For the purposes of this Agreement:
current market value: the value that can be calculated from the current market rate of the remaining maturities of the future cash flows (interest and redemption) of a deposit;
credit balance: a positive balance on the current account;
Debit balance: a negative balance on the current account;
Deposit: the credit amount on a current account linked to the current account, on which a pre-fixed interest rate is remunerated and which cannot be freely available by the legal person for a pre-determined period;
credit limit: the overnight maximum amount of debit balance allowed on the current account;
intra-day limit: the maximum amount of the debit balance allowed on the intermediate account during a business day;
Scheme: Scheme treasury banking decentralised authorities;
Current account: the account specified in Article 3 of the Arrangement which holds the public body to the State, on which daily income and expenditure is maintained;
intermediate account: the account, intended in Article 2 of the Arrangement , through which the zero-balancing takes place and which holds the public body to a bank;
Currency value: the day on which an amount entered in the current account is first to run in the interest rate calculation of the State;
business day: calendar days, subject to weekends, generally recognised public holidays and days where no giro payment traffic is possible in the Netherlands, on which the agreed work will be carried out;
Zero-balancing: the clearing or skimging of the intermediate account, or in favour of the current account.
(1) At the end of each working day, the State shall ensure that the balance on the suspendeaccount is regulated to zero by the amortization of the current account or by supplementing the current account.
1. The credit limit on the current account is EUR 0.
2. If the public body exceeds the credit limit, the public body shall be in default without the need for a letter of default. The State shall inform the public body of failure to act without delay. The excess of the credit limit shall be removed by the public body within a period of five working days. During the period in which the credit limit is exceeded, the amount of the overrun shall be subject to penalty payable in accordance with Article 6, fourth paragraph, of the Arrangement .
(3) The State shall be entitled to reduce the intra-day limit to EUR 0 from the intermediary account after the five working days as referred to in paragraph 2 have expired. The State shall immediately inform the public body of the reduction. Any costs incurred by the bank for the reduction of the intra-day limit shall be borne by the public body.
1. The State shall reimburse to the public body credit interest on credit balances on the current account in accordance with Article 6, first paragraph, of the Arrangement. The public body reimburses the State's interest on debit balances on the current account in accordance with Article 6, fourth paragraph, of the Arrangement .
2. Credit interest payable shall be offset against any due interest rate.
3. The interest due after the settlement referred to in the second paragraph is settled on the current account in the first calendar day following the end of the quarter to which the interest relates.
4. The state shall make an interest note electronically available to the public body at the end of each quarter.
1. In the case of a sufficient credit balance on the current account, the public body may place deposits with the State.
2. The public body may request the state to debite its current account for placing a deposit. For this purpose, the public body shall use the Internet facility provided by the Agency for this purpose.
3. The state reimburses the public body interest on a deposit in accordance with Article 6, second paragraph, of the Arrangement .
4. The interest is paid annually on the interest rate drop date of the deposit, or, if this day is not a business day, on the next business day. The interest on a deposit that does not end on an interest-rate date shall be paid on the maturity date of the deposit. The State writes on the run-off date the amount of the interest and the deposit at the current account.
5. In the case of premature termination of a deposit, the State writes it on the basis of Article 4, third paragraph, of the scheme amount due on current account on the day requested by the public body.
1. The state shall make account statements of the current account electronically available to the public body.
2. The State shall use the information on the current account and deposits solely for the purposes of the implementation of this Agreement and the justification that must be provided.
(3) On request of the State, upon request, the public body shall provide timely information on expected expenses of the current account or receipts in favour of the current account if, on a business day, they amount to EUR 50 million or more amounts.
4. The public body checks, for as far as possible, or by or on behalf of the public body, commands given by the state have been executed correctly and fully. In the event of an inaccuracy or incompleteness, the public body shall inform the State as soon as possible, after which the State shall, by agreement of agreement, make a correction.
1. In this agreement, Dutch law applies.
2. Any disputes between the parties arising out of, or relating to, this Agreement shall be brought before the competent court in The Hague, unless the parties are still in agreement with arbitration or by binding opinion.
The obligations set out in this Agreement shall enter into effect on the second working day following receipt of the agreement by the public body, but not earlier than the day on which the arrangement entered into force.
In this way,
at The Hague on <
THE MINISTER OF FINANCE,
on their behalf:
< < Agent name > >
The agent
| Condition: |
Credit balance: no minimum balance Debit balance: not applicable |
| Interest rate level: |
As provided for in the scheme |
| Interest rate agreement: |
Day count based on actual/360 Validation and collection of interest on the first calendar day of the quarter following the quarter to which the interest relates |
| Costs: |
None |
| Condition: |
For the placing of a deposit, there must be a sufficient balance on the current account. The minimum amount for placing a deposit is EUR 10,000,-. |
| Running times: |
2 days to 30 years |
| Interest rates: |
As provided for in the scheme |
| Interest rate agreement: |
< = 1 year: date count based on actual/360 > 1 year: day count based on actual/actual |
| Early uptake: |
At market value, as referred to in Article 4, third paragraph -From the scheme. |
| Costs: |
None |
