NoL296/48HENI OfficialJournaloftheEuropeanCommunities 21.11.96
COMMISSION REGULATION (EC)No2221/96
of20November 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),andinparticular Article3(1)
thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No2145/96(3);
WhereasArticle4ofRegulation (EEC)No3813/92
providesthat,subjecttoconfirmation periodsbeingtrig­
gered,theagricultural conversion rateforacurrencyisto
beadjustedwherethemonetary gapbetweenitandthe
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
from10to20November 1996,itisnecessary tofixanew
agricultural conversion ratefortheBelgianfranc;
WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedinadvanceistobeadjustedifthegapbetweenthatrateand
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.
Article 2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EC)No2145/96isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon21November
1996.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels ,20November 1996.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.
(3)OJNoL286,8.11.1996,p.14.
(4)OJNoL108,1.5.1993,p.106.
5OJNoL188,27.7.1996,p.22.

21.11.96 EN OfficialJournaloftheEuropeanCommunities NoL296/49
ANNEXI
Agricultural conversion rates
ECU1=39,6918
7,49997
1,92441
311,761
198,202
6,61023
6,02811
2,15852
0,812908
1973,93
13,5396
165,198
8,64446
0,809915Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,1652 Belgianand ECU1=41,3456 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,85039 German marks 2,00459 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
2,07550 Dutchguilders 2,24846 Dutchguilders
0,781642 Irishpunt 0,846779 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,0188 Austrianschillings 14,1038 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,31198 Swedish kroner 9,00465 Swedish kroner
0,778764 Poundsterling 0,843661 Poundsterling