Role of CDC in Administrative Management
Pursuant to the terms of the Decree of December 19, 2001, the CDC carries out administrative management tasks on behalf of the FRR, which include, in particular, essential services for the operational life of the Fund, such as day-to-day cash management, the custodian service provided for in paragraph 1 of Article L. 321-2 of the Monetary and Financial Code and assistance with management systems.
A Mission
This mission is carried out under the authority of the FRR Executive Board and independently of the CDC’s other activities. It gives rise to the payment by the Fund of management fees corresponding to the expenses incurred.
It is carried out within the framework of the regulations governing the FRR and the internal rules of its bodies.
A framework agreement
between the FRR and the CDC, organising this administrative management, was signed in June 2003, after being approved by the supervisory ministries.
In addition, the FRR and the Caisse des dépôts have jointly defined, within an annual objectives, means and performance agreement (COMP), the services provided by the CDC in the exercise of its mission, as well as the various resources allocated to it.
- This document determines the pricing of services, sets performance indicators linked to services and presents the budgetary procedure. It is reviewed each year according to the FRR’s management objectives.
- The construction of the FRR budget is based on the preparation of this objectives, means and performance agreement.
Implementation of management indicators
As early as 2003, the Executive Board began a process of benchmarking its costs and techniques in order to move closer to market best practices and with a view to increasing its efficiency and controlling the Fund’s costs in the long run.
In this context, the FRR has put in place management indicators for the Fund’s management and for monitoring the performance of the CDC’s administrative management. These indicators are reviewed periodically in light of changes in the Fund’s operational management.
