11.2.95 OfficialJournaloftheEuropean Communities NoL32/15
COMMISSION REGULATION (EC)No278/95
of10February 1995
fixingtheagricultural conversion rates
advanceistobeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable fortheamountconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ;
Whereastheecurateswhich,whereapplicable ,replace
theagricultural conversion ratesfixedinadvancebefore1
February1995aremultiplied bythecorrecting factor
1,207509 ,
HASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Community ,
HiavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),aslastamendedbyRegu­
lation(EC)No150/95(2),andinparticularArticle3(1)
thereof,
HavingregardtoCommission Regulation (EC)No157/95
of31January1995layingdowntransitional measuresfor
theabolitionofthecorrecting factorapplicable tothe
conversion ratesusedintheagricultural sector(3),andin
particularArticle2(2)thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No205/95(4),
WhereasArticle4ofRegulation (EEC)No3813/92
providesthat,subjecttoconfirmation periodsbeingtrig­
gered,theagricultural conversion rateforacurrencyisto
beadjustedwherethemonetarygapbetweenitandthe
representative marketrateexceedscertainlevels;
Whereastherepresentative marketratesaredetermined
onthebasisofbasicreferenceperiodsor,whereappli­
cable,confirmation periods,established inaccordance
withArticle2ofCommission Regulation (EEC)No
1068/93of30April1993ondetailedrulesfordetermi­
ningandapplyingtheagricultural conversion rates(%as
lastamended byRegulation (EC)No157/95;whereas
subparagraph 2ofthatArticleprovidesthat,incases
wheretheabsolute valueofthedifference between the
monetarygapsintwoMemberStates,calculated fromthe
averageoftheecuratesforthreeconsecutive quotation
days,exceedssixpoints,therepresentative marketrates
aretobeadjustedonthebasisofthethreequotationdays
inquestion ;
Whereas ,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod 1to10February1995,itis
necessarytofixanewagricultural conversion rateforthe
Greekdrachma ;
WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedinArticle2
1.InthecasereferredtoinArticle15(2)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
2.However ,inthecaseofagricultural conversion rates
fixedinadvancebefore 1February1995,theecurates
listedinAnnexIIshallbereplacedbythosesetoutin
AnnexIII.
Article3
Regulation (EC)No205/95isherebyrepealed .
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.0OJNoL24,1.2.1995,p.1.
(4)OJNoL24,1.2.1995,p.130.0OJNoL108,1.5.1993,p.106.Article4
ThisRegulation shallenterintoforceon11February
1995.

NoL32/16 OfficialJournaloftheEuropean Communities 11.2.95
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,10February1995.
FortheCommission
FranzFISCHLER
MemberoftheCommission
ANNEX T
Agricultural conversion rates
2CU1-40,8337
7,74166
1,94962
295,055
198,202
6,61023
5,88000
2,19672
0,808628
1992,69
13,7190
163,980
9,29426
0.789704Belgianand
Luxembourg francs
Danishkroner
3ermanmarks
3reekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=39,2632 Belgianand ECU1=42,5351 Belgianand
Luxembourg francs Luxembourg francs
7,44390 Danishkroner 8,06423 Danishkroner
1,87463 German marks 2,03085 Germanmarks
283,707 Greekdrachmas 307,349 Greekdrachmas
190,579 Portuguese escudos 206,460 Portuguese escudos
6,35599 Frenchfrancs 6,88566 Frenchfrancs
5,65385 Finnishmarks 6,12500 Finnishmarks
2,11223 Dutchguilders 2,28825 Dutchguilders
0,777527 Irishpunt 0,842321 Irishpunt
1916,05 Italianlire 2075,72 Italianlire
13,1913 Austrianschillings 14,2906 Austrianschillings
157,673 Spanishpesetas 170,813 Spanishpesetas
8,93679 Swedishkroner 9,68152 Swedishkroner
0,759331 Poundsterling 0,822608 Poundsterling

11.2.95 OfficialJournaloftheEuropean Communities NoL32/17
ANNEXIII
Agricultural conversion ratesfixedinadvanceandadjustedwheretheywerefixedinadvance
before 1February 1995
TableA TableB
ECU1-47,4107 Belgianand ECU1-51,3615 Belgianand
Luxembourg francs Luxembourg francs
8,98858 Danishkroner 9,73763 Danishkroner
2,26363 German marks 2,45227 Germanmarks
342,579 Greekdrachmas 371,127 Greekdrachmas
230,126 Portuguese escudos 249,302 Portuguese escudos
7,67492 Frenchfrancs 8,31450 Frenchfrancs
6,82707 Finnishmarks 7,39599 Finnishmarks
2,55054 Dutchguilders 2,76308 Dutchguilders
0,938871 Irishpunt 1,01711 Irishpunt
2313,65 Italianlire 2506,45 Italianlire
15,9286 Austrianschillings 17,2560 Austrianschillings
190,392 Spanishpesetas 206,258 Spanishpesetas
10,7913 Swedishkroner 11,6905 Swedishkroner
0,916899 Poundsterling 0,993307Poundsterling