17.8.93 OfficialJournaloftheEuropeanCommunities NoL205/19
COMMISSION REGULATION (EEC)No2289/93
of16August1993
fixingtheagricultural conversion rates
whereas ,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod12to16August1993,itis
necessarytofixanewagricultural conversion rateforthe
Danishcrown;
WhereasArticle15(3)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceshallbeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable forthecurrencyconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,
HASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Economic Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),andinparticularArticle3
(1)thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EEC)No2249/93(2);
WhereasArticle4(3)ofRegulation (EEC)No3813/92
stipulatesthatif,overareferenceperiod,theabsolute
valueofthedifference inthegapsbetweenthecurrencies
ofanytwoMemberStatesexceedsfourpoints,anymone­
tarygapsfortheMemberStatesconcerned thatexceed
twopointsshallimmediately bereducedtotwopoints;
whereas,inArticle1(f)ofRegulation (EEC)No3813/92,
theterm'monetarygap'isdefinedasthepercentage of
theagricultural conversion raterepresenting the
differencebetweenthatrateandtherepresentative market
rate;
Whereastherepresentative marketratesaredetermined
onthebasisofreferenceperiodsestablished inaccord­
ancewithCommission Regulation (EEC)No1068/93of
30April1993ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(3);
Whereas ,inviewofthedecisionbytheMinisters of
Financeon2August1993,alltheMemberStates'curren­
ciesaretoberegardedfloatingcurrencies inaccordance
withArticle 1(b)ofRegulation (EEC)No3813/92;
Whereas,however,Article2ofRegulation (EEC)
No1068/93providesthat,incaseswheretheabsolute
valueofthedifference betweenthemonetarygapsintwo
MemberStates,calculated fromtheaverageontheecu
ratesforthreeconsecutive workingdays,exceedssix
points:
—therepresentative marketratesforthecurrencies in
questionshallbeadjustedonthebasisofthethree
workingdaysinquestion,
and
—thebasicreferenceperiodconcerned beginstheday
followingthesethreeworkingdays;Article2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
/
—TableA,wherethelatterrateishigherthantherate
fixedinadvance,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EEC)No2249/93isherebyrepealed.
Article4
ThisRegulation shallenterintoforceon17August1993.(')OJNoL387,31.12.1992,p.1.
OOJNoL201,11.8.1993,p.12.0OJNoL108,1.5.1993,p.106.

NoL205/20 OfficialJournaloftheEuropeanCommunities17.8.93
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,16August1993.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
ANNEXI
Agricultural conversion rates
ECU1=48,5563 Belgianand
Luxembourg francs
9,34812 Danishkroner
2,35418 Germanmarks
319,060 Greekdrachmas
190,382 Spanishpesetas
7,95622 Frenchfrancs
0,976426 Irishpunt
2166,58 Italianlire
2,65256 Dutchguilders
236,933 Portuguese escudos
0,920969 Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=46,6888 Belgianand ECU1-50,5795 Belgianand
Luxembourg francs Luxembourg francs
8,98858 Danishkroner 9,73763 Danishkroner
2,26363 Germanmarks 2,45227 Germanmarks
306,788 Greekdrachmas 332,354 Greekdrachmas
183,060 Spanishpesetas 198,315 Spanishpesetas
7,65021 Frenchfrancs 8,28773 Frenchfrancs
0,938871 Irishpunt 1,01711 Irishpunt
2083,25 Italianlire 2256,85 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
227,820 Portuguese escudos 246,805 Portuguese escudos
0,885547 Poundsterling 0,959343 Poundsterling