27.5.2009 Official Journal of the European Union L 128/1 | (Acts adopted under the EC Treaty/Euratom Treaty whose publication is obligatory) REGULATIONS COUNCIL REGULATION (EC) No 431/2009 of 18 May 2009 amending Regulation (EC) No 332/2002 establishing a facility providing medium-term financial assistance for Member States’ balances of payments THE COUNCIL OF THE EUROPEAN UNION, (3)  The rules guiding some aspects of the financial management of Community financial assistance should be clarified. For operational reasons, the Member State concerned should be asked to place the financial assistance received in a special account with its National Central Bank and to transfer the amounts due to an account with the European Central Bank a few days prior to their due dates. Having regard to the Treaty establishing the European Community, and in particular Article 308 thereof, Having regard to the proposal from the Commission, submitted following consultation with the Economic and Financial Committee, (4)  Sound management of the Community financial assistance received is of paramount importance. Therefore, without prejudice to Article 27 of the Statute of the European System of Central Banks and of the European Central Bank, this Regulation should provide for the possibility for the European Court of Auditors and the European Anti-Fraud Office, when Having regard to the opinion of the European Central Bank (%), they deem necessary, to carry out controls in the Member State receiving Community medium-term financial assistance, as already provided for in the existing loan agreements. Having regard to the opinion of the European Parliament ('), Whereas: (5)  Regulation (EC) No 332/2002 should therefore be (1) The scope and intensity of the international financial amended accordingly. crisis affects the potential demand for Community medium-term financial assistance in the Member States outside the euro area and calls for a significant raising of (6)  This Regulation should apply immediately to all new the ceiling for the outstanding amount of loans to be loan agreements and to the existing loan agreements if granted to Member States laid down in Council Regu- and when they are revised, lation (EC) No 332/2002 (%) from EUR 25 billion to EUR 50 billion. HAS ADOPTED THIS REGULATION: 2)  In the light of recent experience gained in the func- tioning of medium-term financial assistance, the tasks Article 1 and responsibilities of the Commission and of the ) ) Member States concerned with the implementation of Regulation (EC) No 332/2002 is hereby amended as follows: Regulation (EC) No 332/2002 should be clarified. In addition, the conditions for granting the financial assistance should be set out in detail in a Memorandum 1. in Article .1(1)’ the second subparagraph shall be replaced by of Understanding to be concluded between the the following: Commission and the Member State concerned. (1) Opinion of 24 April 2009 (not yet published in the Official Journal). ‘The outstandiqg amqunt of 10an§ tf) be granted to M?mb-er () Opinion of 20 April 2009 (O] C 106, 8.5.2009, p. 1). States under this facility shall be limited to EUR 50 billion in 3 O] L 53, 23.2.2002, p. 1. rincipal.; p p p