Through its Belgian Commercial Paper (BCP) programme, the Flemish Community can issue treasury notes on the Belgian market up to a maximum aggregate outstanding amount of 1.5 billion euros. The maturities can vary from 1 day up to 1 year. Currently the Flemish Community uses the maximum capacity of its BCP programme.
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The Flemish Community has a BCP programme in place since 2009. It was set up at the time to deal with temporary cash shortages. It is also used to diversify part of the debt portfolio with (floating) short-term interest rates.
The Flemish Community selects the traders allowed to place Flemish short-term paper on the market via a tendering procedure. The current traders on the programme are KBC Bank and Belfius Bank.