CDC's role in administrative management
The Caisse des Dépôts provides, in accordance with the terms set out in the decree of December 19, 2001, administrative management of the FRR, which covers, in particular, services essential to the operational life of the Fund, such as day-to-day cash management, the custody service provided for in Article L. 321-2(1) of the Monetary and Financial Code, and assistance with management systems.
A Mission
This mission is carried out under the authority of the FRR Management Board and independently of CDC's other activities. It gives rise to the payment by the Fund of management fees in the amount of the expenses incurred.
It is exercised within the framework of the texts governing the FRR and the internal regulations of its bodies.
A framework agreement
between the FRR and the CDC, organizing this administrative management, was signed in June 2003, after being approved by the relevant ministries.
In addition, the FRR and Caisse des Dépôts have jointly defined, within an annual agreement on objectives, resources, and performance (COMP), the services provided by CDC in the exercise of its mission, as well as the various resources allocated to it.
- This document determines service pricing, sets performance indicators related to services, and presents the budgetary procedure. It is reviewed annually in line with the FRR's management objectives.
- The FRR budget is based on the development of this agreement on objectives, resources, and performance.
Implementation of performance indicators
In 2003, the Executive Board began benchmarking its costs and techniques in order to align itself with best market practices, with a view to increasing its efficiency and controlling the Fund's costs once it is fully operational.
In this context, the FRR has established indicators for steering the management of the Fund and monitoring the performance of the CDC's administrative management. These indicators are reviewed periodically in light of developments in the operational management of the Fund.
