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"B COUNCIL DECISION
of 25 February 1991
establishing a Committee on monetary, financial and balance of payments statistics
(91/115/EEC)
(OJ L 59, 6.3.1991, p. 19)
Amended by:
Official Journal
No page date
"M1 Council Decision 96/174/EC of 26 February 1996 L 51 48 1.3.19961991D0115 — EN — 26.2.1996 — 001.001 — 1
COUNCIL DECISION
of 25 February 1991
establishing a Committee on monetary, financial and balance of
payments statistics
(91/115/EEC)
THE COUNCIL OF THE EUROPEAN COMMUNITIES,
Having regard to the Treaty establishing the European Economic
Community,
Having regard to the draft decision submitted by the Commission (1),
Having regard to the opinion of the European Parliament (2),
Having regard to the opinion of the Economic and Social
Committee (3),
Whereas Council Decision 90/141/EEC of 12 March 1990 on the
attainment of progressive convergence of economic policies andperformance during stage one of economic and monetary union (
4)
entails the need for the availability of consistent indicators, particularly
in the monetary, financial and balance of payments areas;
Whereas Council Decision 90/142/EEC of 12 March 1990 amending
Decision 64/300/EEC on cooperation between the central banks of theMember States of the European Economic Community (
5) aims in
particular at promoting the coordination of monetary policy whichnecessarily depends on common surveillance indicators;
Whereas there is therefore a need to establish, as a section of the
multiannual statistical programme of the Commission, a multiannualwork programme in the field of monetary, financial and balance ofpayments statistics;
Whereas by Decision 89/382/EEC, Euratom (
6) the Council set up a
Committee on the Statistical Programme of the European Communities,comprising representatives of the Member States statistical institutes, toensure close cooperation between Member States and the Commissionwhilst the statistical programme is established;
Whereas, in Member States, monetary and banking statistics are drawn
up by central banks, and financial and balance of payments statisticsare drawn up by various institutions, including central banks;
Whereas there is at present no body which ensures close cooperation
between Member States and the Commission in the fields of monetary,financial and balance of payments statistics on which the principalnational institutions concerned are represented;
Whereas it is necessary, in order to achieve such cooperation, in
particular with a view to achieving Economic and Monetary Union,to establish a committee composed of representatives of these insti-tutions, which is charged with aiding the Commission in drawing up
and implementing the multiannual work programme relating to
monetary, financial and balance of payments statistics;
Whereas, having regard to the specific role played in the Member
States by the aforementioned institutions, it is necessary to allow thecommittee to choose its chairman;!
B1991D0115 — EN — 26.2.1996 — 001.001 — 2
(1) OJ No C 212, 25. 8. 1990, p. 5.
(2) OJ No C 324, 24. 12. 1990.
(3) OJ No C 31, 6. 2. 1991, p. 22.
(4) OJ No L 78, 24. 3. 1990, p. 23.
(5) OJ No L 78, 24. 3. 1990, p. 25.
(6) OJ No L 181, 28. 6. 1989, p. 47.
Whereas there is, from the point of view of statistics, a close inter-
dependence between the monetary, financial and balance of paymentsareas on the one hand, and certain other areas of economic statistics onthe other hand;
Whereas the increased demand from the Member States and
Community institutions for improved statistical information requiresthe enhancement of cooperation between the users and producers ofmonetary, financial and balance of payments statistics;
Whereas an examination of whether the Committee's tasks will meet
the needs of any future European Central Bank System should becarried out in the framework of the achievement of Economic andMonetary Union,
HAS DECIDED AS FOLLOWS:
Article 1
A Committee on Monetary, Financial and Balance of Payments
Statistics, hereinafter called the Committee’, is hereby established.
Article 2
The Committee shall assist the Commission in drawing up and
implementing the multiannual programme of work relating tomonetary, financial and balance of payments statistics. TheCommittee shall, in particular, have the task of expressing opinionson the development and coordination of the monetary, financial andbalance of payments statistics required for the policies implemented bythe Council, the Commission, and the various committees assistingthem.
The Committee may be asked to express opinions on the links between
monetary, financial and balance of payments statistics on the one hand,and certain other economic statistics on the other, in particular those onwhich national accounts are based. The work of this Committee will becoordinated with that of the Statistical Programme Committee.
Article 3
The Commission, on its own initiative, and, should the occasion arise,
following a request from the Council or from the committees which
assist them, shall consult the Committee on:
(a) the establishment of multiannual Community programmes for
monetary, financial and balance of payments statistics;
(b) the measures which the Commission intends to undertake to
achieve the objectives referred to in the multiannual programmesfor monetary, financial and balance of payments statistics and theresources and timetables involved;
(c) any other question, in particular questions of methodology, arising
from the establishment or implementation of the StatisticalProgramme in the relevant fields.
The Committee may express opinions on its own initiative on any
questions relating to the establishment or the implementation of stat-istical programmes in the monetary, financial and balance of paymentsfields.
!
M1
Article 3a
The Committee may express opinions on its own initiative on any
questions relating to those statistics that are of common concern tothe Commission and national statistical authorities, on the one hand,and the European Monetary Institute (EMI) and national central banks,on the other. In the execution of its tasks, the Committee shall give itsviews to all interested parties.!
B1991D0115 — EN — 26.2.1996 — 001.001 — 3
Article 4
The Committee shall be composed of one, two or three representatives
per Member State, coming from the institutions principally concernedwith financial, monetary and balance of payments statistics, up to three
representatives of the Commission and up to three representatives of
the EMI. In addition one representative of the Monetary Committeemay attend the meetings of the Committee, as an observer. EachMember State, the Commission and the EMI will have one vote each.
Representatives of other organizations, as well as any person able to
contribute to discussions, may, on the decision of the Committee,participate in the Committee's meetings.
Article 5
The Committee shall elect its chairman according to the detailed rules
laid down in its rules of procedure.
!
B
Article 6
The Committee shall draw up its rules of procedure.!M11991D0115 — EN — 26.2.1996 — 001.001 — 4