Annual review of Member States’ annual activity reports on export credits in the sense of Regulation (EU) No 1233/2011

Regulation (EU) No 1233/2011 of the European Parliament and of the Council of 16 November 2011 on the application of certain guidelines in the field of officially supported export credits foresees in its Annex I that Member States shall make available to the Commission an Annual Activity Report of their national Export Credit Agencies (ECAs) programmes, and that the Commission shall produce an annual review for the European Parliament based on an examination of the reports provided by the Member States.

The present annual review covers the calendar year 2014. As regards the scope of this exercise, it concerns export credit activities in the sense of Regulation (EU) No 1233/2011, i.e. "medium and long term" transactions with a repayment period of two years or more. Transactions omitted in the review are short term export credit transactions and transactions carried out by certain ECAs outside the field of export credits (such as insurance of investments). It also has to be noted that in the case of some Member States, the function of Export Credit Agency (ECA) is performed by an insurance company operating under a public mandate. In such cases, the managing of the public export credit program is strictly separated from the private sector activities (the latter are of course not within in the scope of the present review).