14. 4. 86 Official Journal of the European Communities No C 85/93 
Proposal for a Council Regulation amending Regulation (EEC) No 1883/78 laying down general 
rules for the financing of intervention by the European Agricultural Guidance and Guarantee Fund, 
Guarantee Section 
COM(86) 20 final 
(Submitted by the Commission to the Council on 14 February 1986) 
(86/C 85/54) 
THE COUNCIL OF THE EUROPEAN COMMUNITIES, 
Having regard to the Treaty establishing the European 
Economic Community, 
Having regard to Council Regulation (EEC) No 729/70 of 
21 April 1970 on the financing of the common agricultural 
policy (*), as last amended by Regulation (EEC) No 
3769/85 (2), and in particular Article 3 (2) thereof, 
Having regard to the proposal from the Commission, 
Having regard to the opinion of the European Parliament, 
Whereas Article 5 of Regulation (EEC) No 1883/78 (3), as 
last amended by Regulation (EEC) No 1716/84 (4), provides 
that, in the case of funds originating in the Member States 
used for intervention purchasing of products, the amount of 
the interest charges to be financed by the EAGGF, Guarantee 
Section, are to be calculated on the basis of an interest rate 
uniform throughout the Community; whereas the interest 
rate must be representative of the interest rates actually paid 
by the Member States; 
Whereas Article 6 of the same Regulation provides that 
material operations arising from storage are to be financed by 
the EAGGF, Guarantee Section, by means of standard 
amounts uniform throughout the Community; whereas such 
standard amounts normally reflect the level of weighted costs 
in the Member States; 
Whereas, in order to ensure that the Community budget 
continues to be implemented under appropriate conditions in 
1986 and that the reference framework fixed by the Council 
is complied with, the Commission should, under the present 
circumstances, be authorized to derogate from the rules 
laid down in Article 5 and 6 of Regulation (EEC) 
No 1883/78, such authorization to remain in force until the 
level of intervention stocks has decreased substantially; 
whereas, in the light of current estimates, such authorization 
will have to remain in force for the 1987 and 1988 financial 
years, 
(») OJ No L 94, 28. 4. 1970, p. 13. 
(2) OJ No L 362, 31. 12. 1985, p. 17. 
(3) OJ No L 216, 5. 8. 1978, p. 1. 
(4) OJ No L 163, 21. 6. 1984, p. 1. HAS ADOPTED THIS REGULATION: 
Article 1 
The following paragraph is added to Article 5 of Regulation 
(EEC) No 1883/78: 
'By way of derogation from the procedure laid down in 
the first paragraph, the Commission shall be authorized 
to fix the uniform interest rate at a level below its 
representative level. In the case of Member States 
themselves paying an interest rate that is lower than the 
rate fixed, the Commission may fix the uniform interest 
rate at that lower level.' 
Article 2 
The following paragraph is added to Article 6 of Regulation 
(EEC) No 1883/78: 
'By way of derogation from the procedure laid down in 
the first paragraph, the Commission shall be authorized, 
for the 1986, 1987 and 1988 financial years, to fix the 
standard amounts at a level corresponding to three 
quarters of the standard amounts established on a normal 
basis.' 
Article 3 
The Commission shall be requested to examine the situation 
as regards the standard amounts at the end of 1987 with a 
view to determining whether Article 2 must continue to apply 
after 1988. 
Article 4 
This Regulation shall enter into force on the day following its 
publication in the Official Journal of the European 
Communities. 
It shall apply with effect from 1 January 1986. 
This Regulation shall be binding in its entirety and directly 
applicable in all Member States.