L356/54 EN OfficialJournaloftheEuropeanCommunities 31.12.97
COMMISSION REGULATION (EC)No2652/97
of30December 1997
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)No1985/97(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
amendedbyRegulation (EC)No1482/96Q;whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculatedfromtheaverageof
theecuratesforthreeconsecutive quotationdays,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotation daysin
question ;
Whereas,asaconsequence oftheexchangeratesrecorded
from21to30December 1997,itisnecessarytofixanew
agricultural conversion ratefortheIrishpuntandthe
Portuguese escudo;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(2)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EC)No1985/97isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon1January1998.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels ,30December 1997.
FortheCommission
HansVANDENBROEK
MemberoftheCommission
(')OJL387,31.12.1992,p.1.
(2)OJL22,31.1.1995,p.1.
(3)OJL278,11.10.1997,p.23.
(4)OJL108,1.5.1993,p.106.0OJL188,27.7.1996,p.22.

31.12.97FEN OfficialJournaloftheEuropeanCommunities L356/55
ANNEXI
Agricultural conversion rates
ECU1=40,9321
7,54917
1,98243
312,011
201,259
6,68769
6,02811
2,23273
0,76345
1973,93
13,9485
167,153
8,65258
0,69573Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=39,3578 Belgianand ECU1=42,6376 Belgianand
Luxembourg francs Luxembourg francs
7,25882 Danishkroner 7,86372 Danishkroner
1,90618 German marks 2,06503 Germanmarks
300,011 Greekdrachmas 325,011 Greekdrachmas
193,518 Portuguese escudos 209,645 Portuguese escudos
6,43047 Frenchfrancs 6,96634 Frenchfrancs
5,79626 Finnishmarks 6,27928 Finnishmarks
2,14686 Dutchguilders 2,32576 Dutchguilders
0,73409 Irishpunt 0,79526 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,4120 Austrianschillings 14,5297 Austrianschillings
160,724 Spanishpesetas 174,118 Spanishpesetas
8,31979 Swedishkroner 9,01310 Swedishkroner
0,66897 Poundsterling 0,72472 Poundsterling