ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(82)411
Vol.1982/0137

Disclaimer
Conformément aurèglement(CEE,Euratom)n°354/83duConseildu1erfévrier1983
concernantl'ouvertureaupublicdesarchiveshistoriquesdelaCommunauté économique
européenneetdelaCommunautéeuropéennedel'énergieatomique(JOL43du15.2.1983,
p.1),telquemodifiéparlerèglement(CE,Euratom)n°1700/2003du22septembre2003
(JOL243du27.9.2003,p.1),cedossierestouvertaupublic.Lecaséchéant,lesdocuments
classifiésprésentsdanscedossierontétédéclassifiésconformément àl'article5dudit
règlement.
InaccordancewithCouncilRegulation(EEC,Euratom)No354/83of1February1983
concerningtheopeningtothepublicofthehistoricalarchivesoftheEuropeanEconomic
CommunityandtheEuropeanAtomicEnergyCommunity(OJL43,15.2.1983,p.1),as
amendedbyRegulation(EC,Euratom)No1700/2003of22September2003(OJL243,
27.9.2003,p.1),thisfileisopentothepublic.Wherenecessary,classifieddocumentsinthis
filehavebeendeclassified inconformitywithArticle5oftheaforementioned regulation.
InÜbereinstimmung mitderVerordnung(EWG,Euratom)Nr.354/83desRatesvom1.
Februar1983überdieFreigabederhistorischen ArchivederEuropäischen
Wirtschaftsgemeinschaft undderEuropäischen Atomgemeinschaft (ABI.L43vom15.2.1983,
S.1),geändertdurchdieVerordnung(EG,Euratom)Nr.1700/2003vom22.September2003
(ABI.L243vom27.9.2003,S.1),istdieseDateiderÖffentlichkeitzugänglich.Soweit
erforderlich,wurdendieVerschlusssachen indieserDateiinÜbereinstimmung mitArtikel5
dergenanntenVerordnungfreigegeben.

COMMISSION OFTHEEUROPEAN COMMUNITIES
COM(82)411 final
Brussels ,25June 1982
Proposal for a
COUNCIL REGULATION (EEC )
amending Council Regulation (EEC )N°1736/79 3August 1979
oninterest subsidies for certain loans granted under the
European Monetary System»^< - -^,^
_
(submitted totheCouncil bythe^Commission.& \y\
^Commission ).*\
W>.* ,/ /-V
COM (82)if11final

CçTV^V
EXPLANATORY MEMORANDUM
Article 1ofCouncilRegulation (EEC)N°1736/79oninterestsubsidiesfor
certainloansgrantedundertheEuropeanMonetarySystemreferstoNCI
loansgrantedunderDecision78/780/EEC.
Thefundsborrowedandon-lentunderthebasicDecisionsettingupNCII
(1000millionECU)havenowbeenentirelycommitted.
TheEMSinterestsubsidyschemewillcontinuetooperateuntiltheendof
1983,butNCIloanswillnolongertoabletobenefitunlesstheRegulation
inquestionisamended.
ThenewDecision82/169/EECadoptedbytheCouncilon15March1982ensures
thecontinuity oftheNCIbyprovidingforfurtherborrowings uptoa
ceilingof1000millionECU.
WithaviewtoafurtherrenewaloftheNCIbeyondthisceiling,whichmay
bereachedwellbeforetheendof1983,theCommissionwillshortlyask
theCouncilforathirdauthorization empoweringittoborrow3000million
ECUforthepurposeoftheNCI.
Consequently,Article 1ofRegulation (EEC)N°1736/79of3August1979
mustbesoamendedthatitcontinuestoapplytoallNCIloanseligible
uptotheendof1983.

Proposal for a
Council Regulation (EEC) ......... amending
Council Regulation (EEC )N°1736 /79of3August 1979 oninterest subsidies
forcertain loans granted under theEuropean Monetary System .
THE COUNCIL OFTHE EUROPEAN COMMUNITIES ,
Having regard totheTreaty establishing theEuropean Economic Community ,
and inparticular Article 235thereof ,
1)Having regard totheproposal from theCommission ,
2)Having regard totheopinion oftheEuropean Parliament ,
Having regard totheopinion oftheEconomic andSocial Committee ,^
4)Whereas Council Regulation (EEC)N°1736 /79 introduced for aperiod of
five years from 1January 1979 asystem ofinterest subsidies financed
from theGeneral Budget oftheEuropean Communities for investments inthe
less prosperous Member States effectively andfully participating inthe
mechanisms ofthe European Monetary System ;
Whereas this system ofinterest subsidies applies toloans granted from
the resources oftheEuropean Investment Bank and oftheNewCommunity
Instrument within the limits laid down byArticle 7ofRegulation (EEC )
N°1736 /79;
Whereas Article 1ofRegulation (EEC )N°1736 /79refers toCouncil
Decision 78/870/EECconcerning borrowing and Lending bytheNewCommunity
Instrument 5);whereas itistherefore necessary toensure thecontinuity
ofthis measure bybringing successive Council Decisions onthe renewal
ofborrowing and lending authorizations within thescope ofthat Regulation .
1)OJN0
2)OJN0
3)OJN0
4)OJN°L200,8.8.1979 ,p.1
5)OJN°L298,25.10.1978 ,p.9

HASADOPTEDTHISREGULATION :
Article 1
Article 1ofCouncilRegulation (EEC)N°'1736/79or3August1979ishereby
replacedbythefollowing :
"LoansgrantedfromitsownresourcesbytheEuropeanInvestment Bank,
hereinafter referredtoas"theBank",andLoansgrantedunderCounciI
Decisionsconcerning successive authorizations forborrowingoperations
undertheNewCommunityInstrument duringtheperiodofapplication and
withinthelimitslaiddownbyArticle7ofthisRegulation toaid
investments inthelessprosperous MemberStatesmaycarryaninterest
subsidyfinancedbythebudgetoftheEuropeanCommunities,provided
thattheseStateseffectively andfullyparticipate inthemechanisms
oftheEuropeanMonetarySystem."
Article 2
ThisRegulationshallenterintoforceonthedayonwhichitispublished
intheOfficialJournaloftheEuropeanCommunities .
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicable
inallMemberStates.
DoneatBrussels,
FortheCouncil