NoL345/76 (ENl OfficialJournaloftheEuropeanCommunities 31.12.96
COMMISSION REGULATION (EC)No2525/96
of30December 1996
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),aslastamendedbyRegu­
lation(EC)No150/95(2),andinparticularArticle3(1)
thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No2464/96(3);
WhereasArticle4ofRegulation (EEC)No3813/92
providesthat,subjecttoconfirmation periodsbeingtrig­
gered,theagricultural conversion rateforacurrencyisto
beadjustedwherethemonetarygapbetweenitandthe
representative marketrateexceedscertainlevels;
Whereastherepresentative marketratesaredetermined
onthebasisofbasicreferenceperiodsor,whereapplic­
able,confirmation periods,established inaccordance with
Article2ofCommission Regulation (EEC)No1068/93of
30April1993ondetailedrulesfordetermining and
applying theagricultural conversion rates(4),aslast
amended byRegulation (EC)No1482/960;whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculated fromtheaverageof
theecuratesforthreeconsecutive quotation days,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotation daysinques­
tion;
Whereas ,asaconsequence oftheexchangeratesrecorded
from21to30December 1996,itisnecessarytofixanewagricultural conversion ratefortheBelgianfranc,the
Germanmark,theDutchguilderandtheAustrianschil­
ling;
WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceistobeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operative eventapplicable fortheamountconcerned
exceedsfourpoints;whereas ,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,
HASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto .
Article2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EC)No2464/96isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon1January1997.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels ,30December 1996.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.
(3)OJNoL333,21.12.1996,p.57.
(4)OJNoL108,1.5.1993,p.106.
h)OJNoL188,27.7.1996,p.22.

31.12.96 EN NoL345/77 OfficialJournaloftheEuropeanCommunities
ANNEXI
Agricultural conversion rates
ECU1=40,0486
7,49997
1,94386
311,761
198,202
6,61023
6,02811
2,18167
0,812908
1973,93
13,6782
165,198
8,64446
0,809915Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEX II
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,5083 Belgianand ECU1=41,7173 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,86910 German marks 2,02485 German marks
299,770 Greekdrachmas 324,751 Greekdrachmas
190,579 Portuguese escudos 206,460 Portuguese escudos
6,35599 Frenchfrancs 6,88566 Frenchfrancs
5,79626 Finnishmarks 6,27928 Finnishmarks
2,09776 Dutchguilders 2,27257 Dutchguilders
0,781642 Irishpunt 0,846779 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,1521 Austrianschillings 14,2481 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,31198 Swedish kroner9,00465 Swedishkroner
0,778764 Poundsterling 0,843661 Poundsterling