Treasury Management. 8.2.1 The Accounting Officer shall be in charge of the treasury management and of the bank accounts of the Trust Fund. The Accounting Officer shall open at least one interest-bearing bank account in the name of the Trust Fund ("Trust Fund Account"). The interests accumulated on the Trust Fund's specific bank account will be apportioned twice a year and will constitute the sole remuneration for any funds on the Trust Fund Account(s). This remuneration takes into account the liquidity and transformation risk assumed by the Commission in its investment activity to meet at any time the liquidity requirement for the management of the Trust Fund Account. 8.2.2 All interest accruing on the credit balance of the Trust Fund Account shall be part of the Trust Fund.
Appears in 4 contracts
Samples: Constitutive Agreement, Constitutive Agreement, Constitutive Agreement
