NoL127/24EN OfficialJournaloftheEuropeanCommunities 25.5.96
COMMISSION REGULATION (EC)No936/96
of24May1996
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)No826/96(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(*);
whereasparagraph 2ofthatArticleprovidesthat,incases
wheretheabsolutevalueofthedifference betweenthe
monetarygapsintwoMemberStates,calculatedfromthe
averageoftheecuratesforthreeconsecutive quotation
days,exceedssixpoints,therepresentative marketrates
aretobeadjustedonthebasisofthethreequotationdays
inquestion ;
Whereas ,asaconsequence oftheexchangeratesrecorded
from18to27May1996,itisnecessarytofixanewagri­
culturalconversion ratefortheGerman markandthe
Austrianschilling ;WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceistobeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable 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(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EC)No826/96isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon28May1996.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,24May1996.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
I1)OJNoL22,31.1.1995,p.1.
OOJNoL111,4.5.1996,p.16.0OJNoL108,1.5.1993,p.106.0OJNoL299,12.12.1995,p.1.

25.5.96 EN OfficialJournaloftheEuropeanCommunities NoL127/25
ANNEXI
Agricultural conversion rates
ECU139,5239
7,49997
1,91308
311,761
198,202
6,61023
6,02811
2,14021
0,829498
2030,40
13,4614
165,198
8,93762
0,856563Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedish kroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,0038 Belgianand ECU1=41,1707 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,83950 German marks 1,99279 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
2,05789 Dutchguilders 2,22939 Dutchguilders
0,797594 Irishpunt 0,864060 Irishpunt
1952,31 Italianlire 2115,00 Italianlire
12,9437 Austrianschillings 14,0223 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,59387 Swedishkroner9,31002 Swedishkroner
0,823618 Poundsterling 0,892253 Poundsterling