ARCHIVES HISTORIQUES 
DE LA COMMISSION 
 
 
 
COLLECTION RELIEE DES 
DOCUMENTS "COM" 
 
 
 
 
COM ( 83) 352 
 
 
 
Vol. 1983/ 0140 
  
 
Disclaimer  
Conformém ent au règlement (CEE, Euratom) n° 354/83 du Conseil du 1er février 1983 
concernant l'ouverture au public des archives historiques de la Communauté économique 
européenne et de la Communauté européenne de l'énergie atomique (JO L 43 du 15.2.1983, 
p. 1), tel que modifié par le règlement (CE, Euratom) n° 1700/2003 du 22 septembre 2003 
(JO L 243 du 27.9.2003, p. 1), ce dossier est ouvert au public. Le cas échéant, les documents 
classifiés présents dans ce dossier ont été déclassifiés conformément à l'article 5 dudit 
règlem ent. 
In accordance with Council Regulation (EEC, Euratom) No 354/83 of 1 February 1983 
concerning the opening to the public of the historical archives of the European Econom ic 
Communit y and the European Atom ic Energy Communit y (OJ L 43, 15.2.1983, p. 1), as 
amended by Regulation (EC, Euratom) No 1700/2003 of 22 September 2003 (OJ L 243, 
27.9.2003, p. 1), this file is open to the public. Where necessary, classified documents in this 
file have been declassified in conformity with Article 5 of the aforementioned regulation. 
In Übereinstimmung mit der Verordnung (EWG, Euratom) Nr. 354/83 des Rates vom  1. 
Februar 1983 über die Freigabe der historischen Archive der Europäischen 
Wirtschaftsgemeinschaft und der Europäischen Atomgem einschaft (ABI. L 43 vom  15.2.1983, 
S. 1), geändert durch die Verordnung (EG, Euratom) Nr. 1700/2003 vom 22. Septem ber 2003 
(ABI. L 243 vom 27.9.2003, S. 1), ist diese Datei der Öffentlichkeit zugänglich. Soweit 
erforderlich, wurden die Verschlusssachen in dieser Datei in Übereinstimmung mit Artikel 5 
der genannten Verordnung freigegeben. 
COMMISSION  OF THE  EUROPEAN  COMMUNITIES 
COM(83) 352 final 
Brussels,  8 June  1983 
ECSC FINANCIAL STATEMENTS  FOR 1982 
COM(83) 352. final 

ASSETS 
1982 1981 
Cash in hand and  balances  with 
central banks 
Claims on credit institutions 
repayable  on demand 
with agreed maturity  dates or 
periods of notice 
Debt securities  held in portfolio 
(Notes 2 and 3) 
Loans outstanding  (Notes 2 and 4) 
Recoverable  issuing  costs (Note 2) 
Bank deposits  for coupons and bonds due 
but not yet  presented  for payment 
Land and buildings  (Note 5) 
other assets  (Note 6) 
Accrued and deterred  income 
(Notes 2 and 7) 3.698.224 
21.480.285 
776.630.4 41 
798.110.726 
365.079.067 
6.257.641.735 
51.732.445 
48.441.521 
387.595 
63.519.436 
205.601.620 4.169.589 
29.810.005 
567.947.306  
5 9 7 . 7577 3TT 
288.063.142 
6.011.262.106 
62.233.630 
45.020.909 
345.626 
54.610.710 
198.976.051 
7.794.212.369 7.262.439.074 
The annexed  notes are an  integral  part of 
these financial  statements 

LIABILITIES 
1982 1981 
Coupons and bonds due but  not yet 
presented  for payment 
Long term and medium term debts 
(Note 8) 
Other 1iabilities 
Accruals and deferred  income (Note 9) 48.413.654 45.015.376 
6.116.392.709 5.815.974.031 
11.420.838 15.242.986 
288.798.398 254.398.040 
Total liabilities  tov/ards  third parties  6.465.025.599 6.130.630.433 
Commitments for  ECSC operating 
budget (Note 10) 
financial  assistance  584.065.989 452.734.774 
other 204.759.406 185.766.737 
788.825.395 638.501.511 
Reserves (Note  11) 
Guarantee  fund 340.000.000 300.000.000 
Special reserve  156.500.000 150.000.000 
Former pension fund  43.772.724  42.850.240 
- - 540.272.724 492.850.240 
Unallocated  balance  88.651 456.890 
7.794.212.369  7.262.439.074 
The annexed  notes are an  integral  part of 
these financial  statements 

EXPENDITURE 
1982 1981 
Interest payable 557.758.483 530.613.518 
Commissions payable 4.794.793 4.738.377 
Administrative  expenditure 
(fixed amount - Note 12) 5.000.000 5.000.000 
Value adjustment  , for losses on 
claims (Note 2) 92.895.684 
Value adjustments  in respect of securities 1.214.330 
Capital losses on securities 256.452 
Issuing costs and redemption 
premiums  (Note 2) 17.861.111 15.764.106 
Other expenditure 509.331 1.236.291 
Expenditure: 
Redeployment 94.073.836 64.870.914 
Measures in connection with  the 
restructuring  of the  steel industry 6.963.342 
Research 42.479.294 40.539.845 
Interest  subsidies  (Article  54) 11.599.443 10.257.451 
Interest  subisidies  (article  56) 14.846.965 12.867.705 
Coking coal and metallurgical  coke 8.978.562 6.134.678 
Surplus of revenue over expenditure 
to be allocated 197.378.129 190.199.113 
1.055.138.973 883.692.780 
The annexed notes  are an  integral  part of 
these financial  statements 

REVENUE 
1982 1981 
Interest received  (Note 13) 
Issuing premiums 
Gains on own  securities  (Note 3) 
Realised gains on other securities 
other revenue 
Levies (Note 14) 
Fines (Note 15) 
Contributions  from Member States 
Contribution  from the General budget 
of the European  Communities  (Note 16) 
Income from value adjustments  in respect 
of securities 
Exchange  gains, net 726.028.522 
8.534.245 
11.730.529 
21.674.806 
2.076.601 
117.306.366 
42.924.254 
112.000.000 
10.045.924 
2.817.726 677.420.627 
4.411.610 
11.117.285 
11.119 
126.622.861 
1.945.066 
52.879.000 
9.285.212 
1.055.138.973 883.692.780 
The annexed  notes are an  integral  part of 
these financial  statements 

ALLOCATION  OF SURPLUS OF REVENUE OVER EXPENDITURE FOR YEARS ENDING 
31 DECEMBER  1982 AND 31 DECEMBER  1981 
1982 1981 
Surplus not allocated  at 1 January 
Surplus for the  year to be allocated 
Total for allocation 456.890 
197.378.129 
197.835.019 140.569 
190.199.113 
190.339.682 
Al locations: 
Guarantee  fund 
Special reserve 
Former pension fund 
Financial  assistance 
Other 
Total allocations 40.000.000 
6.500.000 
922.484 
131.331.215 
18.992.669 
197.746.368 40.000.000 
6.500.000 
882.197 
75.992.917 
66.507.678 
189.882.792 
Surplus not allocated  at 31 december 88.651 456.890 
The annexed  notes are an  integral  part of 
these financial  statements 

NOTES TO FINANCIAL  STATEMENTS 
AT 31 DECEMBER  1982 AND 1981 
(all amounts  given in ECU) 
1. PRESENTATION  OF FINANCIAL  STATEMENTS 
The European  Coal and Steel Community (ECSC) was  established  by the Treaty of 
18 April 1951. According to the Treaty, the task of the ECSC is to contribute 
to the economic  expansion of the Member States through  the establishment  of a 
common market for coal and steel. Most of the ECSC1s  funds come from levies, 
loans raised on the financial markets and direct bank loans, and contributions 
from the general budget of the European  Communities. 
The layout of the annual accounts  is based on a Commission  proposal for  a 
Council directive  concerning  the annual accounts  of banks and  other financial 
i nsti tutions. 
The financial  statements  at 31 December 1982  include the allocation  of the 
surplus of revenue over expenditure for  1982. At the end of the  year the 
commitments  financed by the allocation  of this surplus are those entered  into 
during the year for operations  to be carried out by the  ECSC for the redeployment 
of workers and for technical and economic  research. Actual expenditure for these 
operations  appears in the profit and loss accounts of the year in which  the 
commitment is  paid. 
All ECSC books of account are kept in ECU. 
The following  rates compared to one ECU have been  used for converting balance sheet 
amounts expressed  in currency into ECU: 
31 decembe 
1982 1981 
Convertible  Belgian  and Luxembourg  franc 
German mark 
Dutsch guilder 
Pound sterlind 
Danish krone 
French franc 
Italian  lira 
Irish pound 
Greek Drachma 
u.a. 
US dollar 
Swiss franc 
Canadian  dollar 
EMU 45,3207 
2,30014 
2,54205 
0,600289 
8,11485 
6,52207 41 ,7467 
2,44436 
2,68309 
0,566523 
7,94077 
6,20177 
1.325,70 1.303,57 
0,692923 
68,5398 
0,472804 
0,967667 
1,93098 
1,19265 
0,628453 
227,160 0,686819 
62,226300 
0,477875 
1,08517 
1,95169 
1 ,28723 
0,667858 
238,304 Japanese yen 

- 2 -
2. SUMMARY  OF ACCOUNTING  POLICIES 
The non-realized gain or  loss resulting  from the conversion  into ECU at year-end 
of accounts in currencies is deferred and entered in the balance sheet under 
"Accruals  and deferred income". 
Securities  are valued at the lower of cost or  maket value. Repurchased  ECSC 
bonds maturing in the year  following  the financial  year of the balance sheet are 
deducted from  bonds in circulation  and withdrawn from the market. 
Value adjustments against loans and other claims with the exception of those 
relating  to credit  institutions  have been entered in the accounts to take  into 
account potential  risks of non-recoverability. 
The item "Land and  buildings"  consists of a  building  valued at cost in US  dollars 
and converted  into ECU at year-end. 
Up to 31 December  1980 the recovery of  issuing  costs was spread over the term of the 
borrowing. Since 1 January 1981 these costs are immediately written off. The 
balance of  issuing  costs outstanding at 31  December  1980 (72.009.909)  is being 
written off in seven equal yearly instalments. 
3. DEBT SECURITIES  HELD IN PORTFOLIO 
The portfolio  is made up mainly of  government  bonds and repurchases  ECSC bonds. 
At 31 December  1982 the  book value of repurchased  ECSC bonds in portfolio  was 
99.583.833  (1981 -  118.416.207). 
In 1982 the  ECSC made a profit of 11.730.529  (1981 -  11.117.285)  on repurchased 
bonds, with a nominal value of  61.246.526  (1981 - 67.574.713), which  were 
withdrawn from the market. 
4. LOANS OUTSTANDING 
This item covers loans  made mainly to firms in the  steel industry and coalmining 
in the Member States and loans granted mainly to firms to finance reconversion. 
These loans are paid out of borrowed funds and  total 6.087.873.069  (1981 -
5.849.593.168). 
These loans are usually secured by guarantees from the  Member States,  banks 
or firms and by mortgages. 
Value adjustments amounting in  total to 69.782.811  (1981 -  9.643.899)  - (Note 2). 
This item also includes loans financed rom the  ECSC's own funds, as  follows: 
31 december 
1982 1981 
Loans paid from the  special  reserve for 
financing  subsidized housing 
Loans paid from the pension fund to  officials 
of the European  -Communities  for the construc­
tion of housing 
Loans paid from the pension fund for the 
Friuli steel industry 143.351.244 133.781.234 
21.464.573 22.412.182 
3.054.990 3.452.059 

- 2 -
2. SUMMARY  OF ACCOUNTING  POLICIES 
The non-realized gain or  loss resulting  from the conversion  into ECU at year-end 
of accounts in currencies is deferred and entered in the balance sheet under 
"Accruals  and deferred income". 
Securities  are valued at the lower of cost or  maket value. Repurchased  ECSC 
bonds maturing in the year  following  the financial  year of the balance sheet are 
deducted from  bonds in circulation  and withdrawn from the market. 
Value adjustments against loans and other claims with the exception of those 
relating  to credit  institutions  have been entered in the accounts to take  into 
account potential  risks of non-recoverability. 
The item "Land and  buildings"  consists of a  building  valued at cost in US  dollars 
and converted  into ECU at year-end. 
Up to 31 December  1980 the recovery of  issuing  costs was spread over the term of the 
borrowing. Since 1 January 1981 these costs are immediately written off. The 
balance of  issuing  costs outstanding at 31  December  1980 (72.009.909)  is being 
written off in seven equal yearly instalments. 
3. DEBT SECURITIES  HELD IN PORTFOLIO 
The portfolio  is made up mainly of  government  bonds and repurchases  ECSC bonds. 
At 31 December  1982 the  book value of repurchased  ECSC bonds in portfolio  was 
99.583.833  (1981 -  118.416.207). 
In 1982 the  ECSC made a profit of 11.730.529  (1981 -  11.117.285)  on repurchased 
bonds, with a nominal value of  61.246.526  (1981 - 67.574.713), which  were 
withdrawn from the market. 
4. LOANS OUTSTANDING 
This item covers loans  made mainly to firms in the  steel industry and coalmining 
in the Member States and loans granted mainly to firms to finance reconversion. 
These loans are paid out of borrowed funds and  total 6.087.873.069  (1931 -
5.849.593.168). 
These loans are usually secured by guarantees from the  Member States,  banks 
or firms and by mortgages. 
Value adjustments amounting in  total to 69.782.811  (1981 -  9.643.899)  - (Note 2). 
This item also includes loans financed rom the  ECSC's own funds, as  follows: 
31 december 
1982 1981 
Loans paid from the  special  reserve for 
financing  subsidized housing 
Loans paid from the pension fund to  officials 
of the European  -Communities  for the construc­
tion of housing 
Loans paid from the pension fund for the 
Friuli steel industry 143.351.244 133.781.234 
21.464.573 22.412.182 
3.054.990 3.452.059 

- 3 -
Loans paid from the  special reserve  for 
technical and economic  research 1.751.164 1 .848.361 
Loans paid from the  special reserve  for 
redeployment 146.695 175.102 
169.768.666 161 .668.938 
5. LAND AND BUILDINGS 
The ECSC owns a building in Washington DC, which is  part of the assets 
its operations.  The building is leased to the European Communities. securing 
6. OTHER ASSETS 
This item includes: 
31 december 
1982 1981 
Levy receivable 9.314.138 11 .578.347 
Contributions  from Member States 7.842.608 39 .466.951 
Fines receivable  (Note 15) 45.255.733 2 .154.145 
Loans due and not  received  ; 32.342.062 164.026 
Other 2.833.060 2 .608.635 
97.637.601 55 .972.104 
Total value adjustments  (Note 2) (34.118.165) (i.: 361.394) 
63.519.436 54 .610.710 
The amount of  levy receivable includes  an amount of 4.514.963 (1981 - 2.993.739) 
representing  the temporary  deferral  of levy due on coal taken into stock,  in 
accordance  with a general decision  taken in 1972. 
7. ACCRUALS  AND DEFERRED  INCOME (ASSETS) 
This item  comprises  interest  and guarantee  fees accrued  but not due  totalling 
182.573.752 (1981 - 177.754.411), and  levies declared  for November and 
December 1982 but not  payable  until after 31 December 1982. 
8. LONG-TERM  AND MEDIUM-TERM  DEBTS 
The debts consists  of 286 private  and public bond' issues maturing  between 1983 and 
2002. 

- 4 _ 
9. ACCRUALS  AND DEFERRED  INCOME (LIABILITIES) 
This item  comprises  interest  and commissions  on borrowings  accrued but not 
yet due at 31  December  1982, amounting  to 265.896.289  (1981 -  237.210.588). 
Non-realized gains  from conversion,  amounting  to 22.902.109  (1981 -  17.187.455) 
are also included  in this item. 
10. COMMITMENTS FOR  ECSC OPERATING  BUDGET 
At 31 December  1982 the  allocations  approved by the Commission were  to be used 
as follows: 
31 december 
Financial  assistance  (commitments  entered into) 
Redeployment  measures 
Technical and economic  research 
Interest  subsidies  on conversion loans 
(Article 56) 
Interest  subsidies  on industrial 
loans (Article  54) 
Aid for coking coal  and metallurgical  coke 
Steel industry  social measures 1982 
273.946.194 
81.114.619 
41.285.790 
32.337.528 
345.200 
155.036.658 
584.065.989 1981 
251.729.979 
78.354.374 
37.112.197 
33.304.580 
3.592.200 
48.631.444 
452.734.774 
Other (commitments  to be entered into) 
Technical and economic  research 
Interest  subsidies  on conversion 
loans (Article  56) 
Interest  subsidies  on conversion 
Loans (Article  54) 
Steel industry  social measures 
1983 and 1982  budget,  respectively 
Contingencies 12.938.854 
74.883.322 
10.937.230 
80.000.000 
26.000.000 9.595.383 
55.335.798 
14.467.000 
1.368.556 
75.000.000 
30.000.000 
204.759.406 185.766.737 
788.825.395 638.501.511 

- 5 -
The breakdown  of movements  during the year  were as follows: 
December  31 
Financial  assistance  (commitments  entered  into) 
Balance at 1 January 1982 
Allocations  during.the year 
Balance at 31 December  1982 
Other 1982 
452.734.774 
131.331.215 
584.065.989 
185.766.737 
(87.007.331) 
106.000.000 
204.759.406 1981 
376.741.857 
75.992.917 
452.734.774 
119.259.059 
(38.492.322) 
105.000.000 
185.766.737 Balance at 1 January 1983 
Allocations  during the year 
Allocations  at year-end 
11. RESERVES'' 
The guarantee fund  and the special  reserve are  built up with allocations  from 
the surplus  of ECSC revenue over expenditure.  Allocations  are decided  by the 
Commission. 
The former pension fund represents the balance  of the pensions funded  by the 
ECSC prior to 5 March 1968.  From that date the  Member States have assumed 
commitments  for the  payment of staff pensions. 
12. ADMINISTRATIVE  EXPENDITURE  (FIXED AMOUNT) 
The ECSC paid  5.000.000  to the administrative  budget of the Commission  of the 
European Communities  to cover its  administrative  costs. 
13. INTEREST  RECEIVABLE 
At 31 December  1982 this item mainly comprises  interest  received from loans 
for an amount of  580.561.286 (1981 - 550.584.254)  interest  received from 
deposits  113.820.664 (1981 - 88.154.844)  interest  received from fixed-income 
securities  (31.646.572  (1981 - 38.087.751) 
14. LEVIES 
The ECSC is authorized under the Treaty  to impose a levy on the average value 
of the production  of coal and steel of the enterprises in the  Community. 
The community  average values  of the different  products  liable to the levy serves 
as the basis  of calculation.  The levy rate has been  0,31 % since  1 January 1980. 
./. 

- 6 -
15. FINES 
This heading  includes  the amounts resulting  from fines imposed by the Commission 
in accordance  with Articles 58 et 60 of the ECSC Treaty. Some companies have 
brought cases before  the Court of Justice of the  European Communities  involving 
an amount of 37.763.188  ECU (Note 2). 
The appeal  against the fine imposed in 1981  for an amount of 2.154.145  ECU was 
rejected by the Court of Justice of the  European Communities  on 11 May 1983. 
16. CONTRIBUTIONS  FROM THE GENERAL EEC BUDGET 
By virtue of the  decisions  of the  Council of the  European Communities dated  23 
February and 21 September 1982,  the ECSC received an amount of 112.000.000  ECU 
in 1982 as the  EEC's contributions  for social measures  linked with restructuring 
the European  steel industry. 
The decision  of 23 February concerning 62.000.000  ECU concerned  the 1981 
financial  year. 
17. OTHER COMMITMENTS 
At 31 December  1982 the  Commission  had 3.970.266  (1981 - 13.864.295)  outstanding 
in loans irrevocably  contracted  but not  yet paid. 
18. GUARANTEES  GIVEN 
The ECSC guarantees  loans made to  various  coal and steel companies  by third 
parties,such  guarantees  are in  turn secured by guarantees  received by the 
ECSC. Guarantees  given amount to 991.244 (1981-4.422.426). 
19. COMMITMENTS  ARISING FROM FORWARD TRANSACTIONS 
At 31 December  1982, the ECSC had entered  into swap operations  involving 
obligations  for the forward purchase  of currencies  amounting  to 81.276.350  (1981 
79.295.136)  and obligations  for the forward  sale of currencies  amounting  to 
88.177.385  (1981 - 84.938.096). 
Enrico  CIOFFI 
Director-General Credit 
and Investments Done at Brussels, 8 June 1982 
For the Commission 
F.X. ORTOLI 
Vi ce-President