OfficialJournaloftheEuropeanCommunities 75
NoL87/12 OfficialJournaloftheEuropeanCommunities 13.4.72
REGULATION (EEC)No741/72OFTHECOMMISSION
of12April1972
onthemethodandrateofinteresttobeappliedforcalculatingthefinancingcostsof
interventionsintheinternalmarketsforbeefandvealandformilkandmilkproducts
Whereasa6%perannumrateofinterestrepresents
thereturnonmoneyloanedwithintheEuropean
EconomicCommunityfromtheperiod1968/69;
Whereasitisnecessarytocalculatethefinancing
costsinaccordancewithamethodwhich,ontheone
hand,takesaccountoftheextentofstorage,ofthe
differencesinvaluebetweenindividualconsignments
ofbeefonoffersubjecttointervention ,ofthefact
thatthequantitiesofbeefandofbutterinstorage
atthebeginningoftheperiodhavebeensomewhat
reducedinvalueandalsoofthefactthattheinter­
ventionpriceofindividualproductsmayvaryinthe
courseoftheperiodconsidered,andwhich,onthe
otherhand,isstilleasilyapplicable;
WhereasthisRegulationappliesasfromtheperiod
1968/69insofarastheprovisionsadoptedonthe
basisofRegulation17/64/EECarestillinforce;
WhereasthemeasuresprovidedforinthisRegula­
tionareinaccordancewiththeOpinionoftheFund
Committee,THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuro­
peanEconomicCommunity;
HavingregardtoCouncilRegulationNo17/64/EEC1
of5February1964ontheconditionsforgrantingaid
fromtheEuropeanAgriculturalGuidanceandGua­
ranteeFund,aslastamendedbyRegulation(EEC)
No2591/702;
HavingregardtoCouncilRegulation (EEC)No
729/703of21April1970,onthefinancingofthe
commonagriculturalpolicy;
HavingregardtoCouncilRegulation(EEC)No
2305/704of10November1970onthefinancingof
interventionexpenditureinrespectoftheinternal
marketinbeefandveal,inparticularArticle3(1)
(g)thereof;
HavingregardtoCouncilRegulation(EEC)No
2306/705of10November1970onthefinancingof
interventionexpenditureinrespectoftheinternal
marketofmilkandmilkproducts,andinparticular
Articles4,5and6(1)(g)thereof;
Whereas,pursuanttoArticle2(1)ofRegulation
(EEC)No2305/70andtoArticle3(2)ofRegula­
tion(EEC)No2306/70,accountsaretobesetup,
foreachMemberStateandforeachoftheperiods,
determiningthenetlossessustainedbytheinterven­
tionagenciesconcerned;
Whereasthereappear,amongtheentriesinthese
accounts,thefinancingcostswhicharetobecalc­
ulatedonthebasisofamethodandinterestrate
adoptedinaccordancewiththeprocedurelaiddown
inArticle26ofRegulationNo17/64/EEC;HASADOPTEDTHISREGULATION :
Article1
TherateofinterestreferredtoinArticle3(1)(g)of
Regulation(EEC)No2305/70andinArticles4(1)
(g),5(1)(g)and6(1)(g)ofRegulation(EEC)No
2306/70shallbefixedat6%perannum.
Article2
1.EachoftheamountsreferredtoinArticle3(1)
(g)ofRegulation(EEC)No2305/70andinArticles
4(1)(g),5(1)(g)and6(1)(g)ofRegulation(EEC)
No2306/70shallbecalculatedbyapplyingtherate
fixedinArticle1totheaveragevaluepertonofthe
productwhichwasthesubjectofintervention,and
bymultiplyingtheproductthusobtainedbythe
averagestockoftheperiod,andthenbytheratio
betweenthelengthoftheperiodconcernedandthe
lengthofoneyear.1OFNoL34,27.2.1964,p.186/64.
2OlNoL280,26.12.1970,p.63.
3OJNoL94,28.4.1970,p.13.
4OJNoL249,17.11.1970,p.1.
5OJNoL249,17.11.1970,p.4.

76 OfficialJournaloftheEuropeanCommunities
obtainedbythenumberofmonthsconcernedin­
creasedbyone.
4.Theratioreferredtoinparagraph1is0-9233for
theperiod1968/69and0-5fortheperiod'second
half-year1969'.2.Theaveragevaluepertonofproductshallbe
calculatedbydividingthesumtotalofthevaluesof
theproductsinstockonthefirstdayoftheperiod
plusthevaluesofproductspurchasedduringthe
periodbythesumtotalofthetonsofproductsin
stockonthefirstdayoftheperiodpiusthetonsof
productspurchasedduringtheperiod.
3.Theaveragestockoftheperiodshallbecalcu-.
latedbyaddingtothestockexistingattheendof
eachmonthoftheperiodthestockcarriedoverfrom
theprecedingperiodanddividingtheamountthus»Article3
ThisRegulationshallbeappliedasfromtheperiod
1968/69.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,12April1972.
FortheCommission\
ThePresident
S.L.MANSHOLT