On Thursday 18 January, the European Commission announced that it had settled its first auction through the new EU Issuance Service (EIS), which has been in operation since 1 January 2024.
The EIS is a new mechanism, developed by the Commission in June 2022, which aims to organise the settlement of Next Generation EU Recovery Plan bonds and other European Union bonds via the payment and settlement infrastructure of the euro area monetary authority: the Eurosystem.
“It creates a level...