25. 8. 90 Official Journal of the European Communities No C 212/5 
II 
(Preparatory Acts) 
COMMISSION 
Proposal for a Council Decision establishing a Committee on monetary, financial and balance of 
payments statistics 
COM(90) 355 final 
(Submitted by the Commission on 27 July 1990) 
(90/C 212/07) 
THE COUNCIL OF THE EUROPEAN COMMUNITIES, 
Having regard to the Treaty establishing the European 
Economic Community, 
Having regard to the Commission proposal, 
Having regard to the opinion of the European 
Parliament, 
Having regard to the opinion of the Economic and 
Social Committee, 
Whereas Council Decision 90/141/EEC (') regarding 
the achievement of continuing economic convergence 
entails the need for the availability of consistent indi­
cators, particularly in the monetary, financial and 
balance of payments domains; 
Whereas Council Decision 90/142/EEC (2) amends 
Decision 64/300/EEC as regards the terms of reference 
of the Committee of Central Bank Governors, the main 
aim of which is to promote the coordination of monetary 
policy which necessarily depends on common 
surveillance indicators; 
Whereas there is therefore a need to establish, as a 
section of the multiannual statistical programme of the 
Commission, a multiannual work programme in the 
domain of monetary, financial and balance of payments 
statistics; Whereas Council Decision 89/382/EEC, Euratom of 19 
June 1989 establishing a Committee on the Statistical 
Programme of the European Communities (3), 
comprising representatives of the Member States' stat­
istical institutes, is to ensure close cooperation between 
Member States and the Commission whilst the statistical 
programme is established; 
Whereas in Member States monetary and banking stat­
istics are drawn up by central banks, and financial and 
balance of payments statistics are drawn up by various 
institutions, including, in particular, central banks; 
Whereas there is at present no body which ensures close 
cooperation between Member States in the fields of 
monetary, financial and balance of payments statistics on 
which the principal national institutions concerned are 
represented; 
Whereas it is necessary, in order to achieve such 
cooperation, to establish a committee composed of 
representatives of these institutions, which is charged 
with aiding the Commission in the elaboration and 
implementation of the multiannual work programme 
relating to monetary, financial and balance of payments 
statistics; 
Whereas, having regard to the specific role exercised in 
the Member States by the aforementioned institutions, it 
is necessary to allow the Committee to choose its 
chairman; 
Whereas there is sometimes in the statistical area an 
interdependence between the domains of monetary, 
financial and balance of payments statistics on the one 
hand, and certain other areas of economic statistics on 
the other hand, 
O OJ No L 78, 24. 3. 1990. 
O OJ No L 78, 24. 3. 1990. O OJ No L 181, 28. 6. 1989, p. 47. 
No C 212/6 Official Journal of the European Communities 25. 8. 90 
HAS DECIDED AS FOLLOWS: 
Article 1 
A Committee on Monetary, Financial and Balance of 
Payments Statistics, hereinafter called the Committee, is 
hereby established. 
Article 2 
The Committee shall assist the Commission in drawing 
up and implementing the multiannual programme of 
work relating to monetary, financial and balance of 
payments statistics. The Committee shall, in particular, 
have the task of expressing opinions on the development 
and coordination of the monetary, financial and balance 
of payments statistics required for the policies 
implemented by the Council, the Commission, and the 
various committees assisting them. 
The Committee may be asked to express opinions on the 
links between monetary, financial and balance of 
payments statistics on the one hand, and certain other 
economic statistics on the other. The work of this 
Committee will be coordinated with that of the Stat­
istical Programme Committee. 
Article 3 
The Commission, on its own initiative, and should the 
occasion arise, following a request from the Council or 
from the committees which assist them, shall consult the 
Committee on: 
(a) the establishment of multiannual Community 
programmes for monetary, financial and balance of 
payments statistics; 
(b) the measures which the Commission intends to 
undertake to achieve the objectives referred to in the 
multiannual programmes for monetary, financial and balance of payments statistics and the resources and 
timetables involved; 
(c) any other question, in particular questions of metho­
dology, arising from the establishment or implemen­
tation of the statistical programme in the relevant 
fields. 
The Committee may express opinions on its own 
initiative on any questions relating to the establishment 
or the implementation of statistical programmes in the 
monetary, financial and balance of payments fields. 
Article 4 
The Committee shall be composed of one, two or three 
representatives per Member State, coming from the 
institutions principally concerned with financial, 
monetary and balance of payments statistics, and of 
three representatives of the Commission. 
In addition, one representative of the Committee of 
Governors of the Central Banks of the Community and 
one representative of the Monetary Committee may 
attend meetings of the Committtee as observers. 
Representatives of other organizations, as well as any 
persons able to contribute to discussions, may on the 
decision of the Committee, participate in the 
Committee's meetings. 
Article 5 
The Committee shall elect its chairman by a simple 
majority of the Member States' votes. Its secretariat shall 
be provided by the Commission. 
Article 6 
The Committee shall draw up its rules of procedure.