21.12.95 EN OfficialJournaloftheEuropeanCommunities NoL308/59
COMMISSION REGULATION (EC)No2960/95
of20December 1995
fixingtheagricultural conversion rates
advanceistobeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable fortheamountconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,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)No2681/95(3);
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
1068/93of30April1993ondetailedrulesfordeter­
miningandapplyingtheagricultural conversion rates(4),
aslastamended byRegulation (EC)No2853/95(*);
whereasparagraph2ofthatArticleprovidesthat,incases
wheretheabsolutevalueofthedifference betweenthe
monetarygapsintwoMemberStates,calculatedfromthe
averageoftheecuratesforthreeconsecutive quotation
days,exceedssixpoints,therepresentative marketrates
aretobeadjustedonthebasisofthethreequotationdays
inquestion ;
Whereas,asaconsequence oftheexchangeratesrecorded
from11to20December 1995,itisnecessarytofixanew
agricultural conversion ratefortheGreekdrachma ;
WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedinHASADOPTED 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)No2681/95isherebyrepealed.
Article4
ThisRegulation shallenterintoforceon21December
1995.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,20December 1995.
FortheCommission
FranzFISCHLER
MemberoftheCommission
0)OJNoL387,31.12.1992,p.1.0OJNoL22,31.1.1995,p.1.
3)OJNoL277,21.11.1995,p.5.HOJNoL108,1.5.1993,p.106.
0OJNoL299,12.12.1995,p.1.

NoL308/60EN OfficialJournaloftheEuropeanCommunities 21.12.95
ANNEXI
Agricultural conversion rates
ECU1=39,5239
7,49997
1,90616
310,749
198,202
6,61023
5,88000
2,14021
0,829498
2164,34
13,4084
165,198
9,24240
0,856563Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1-38,0038 Belgiánand ECU1=41,1707 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,83285 German marks 1,98558 German marks
298,797 Greekdrachmas 323,697 Greekdrachmas
190,579 Portuguese escudos 206,460 Portuguese escudos
6,35599 Frenchfrancs 6,88566 Frenchfrancs
5,65385 Finnishmarks 6,12500 Finnishmarks
2,05789 Dutchguilders 2,22939 Dutchguilders
0,797594 Irishpunt 0,864060 Irishpunt
2081,10 Italianlire 2254,52 Italianlire
12,8927 Austrianschillings 13,9671 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,88692 Swedishkroner 9,62750 Swedishkroner
0,823618 Poundsterling 0,892253 Poundsterling