NoL190/44r~EN| OfficialJournaloftheEuropeanCommunities 19.7.97
COMMISSION REGULATION (EC)No1398/97
of18July1997
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)No1335/97(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
applyingtheagricultural conversion rates(4),aslast
amended byRegulation (EC)No1482/960;whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculatedfromtheaverageof
theecuratesforthreeconsecutive quotationdays,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotation daysin
question ;
Whereas ,asaconsequence oftheexchangeratesrecorded
from11Julyto20July1997,itisnecessarytofixanew
agricultural conversion ratefortheBelgianfranc,theDanishkrone,theGermanmark,thePortuguese escudo,
theFrenchfranc,theDutchguilder,theAustrianschil­
lingandtheSpanishpeseta;
WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceistobeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable 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 .
ArticleJ
Regulation (EC)No1335/97isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon21July1997.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels ,18July1997.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(4OJNoL22,31.1.1995,p.1.
0OJNoL183,11.7.1997,p.10.
(4)OJNoL108,1.5.1993,p.106.
OOJNoL188,27.7.1996,p.22.

19.7.97MErn OfficialJournaloftheEuropeanCommunities NoL190/45
ANNEXI
Agricultural conversion rates
ECU1=40,8741
7,54258
1,97970
312,011
199,837
6,68769
6,02811
2,22893
0,759189
1973,93
13,9291
166,839
8,88562
0,720829Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1-39,3020 Belgianand ECU1=42,5772 Belgianand
Luxembourg francs Luxembourg francs
7,25248 Danishkroner 7,85685 Danishkroner
1,90356 German marks 2,06219 German marks
300,011 Greekdrachmas 325,011 Greekdrachmas
192,151 Portuguese escudos 208,164 Portuguese escudos
6,43047 Frenchfrancs 6,96634 Frenchfrancs
5,79626 Finnishmarks 6,27928 Finnishmarks
2,14320 Dutchguilders 2,32180 Dutchguilders
0,729989 Irishpunt 0,790822 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,3934 Austrianschillings 14,5095 Austrianschillings
160,422 Spanishpesetas 173,791 Spanishpesetas
8,54387 Swedishkroner 9,25585 Swedishkroner
0,693105 Poundsterling 0,750864 Poundsterling