92/250/ECSC: Decision of the European Parliament of 8 April 1992 granting a discharge to the Commission in respect of the European Coal and Steel Community accounts for the financial year 1990
Date: 1992-04-08
Institutions: European Parliament
Subjects: ECSC, ECSC operating budget













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31992D0250

92/250/ECSC: Decision of the European Parliament of 8 April 1992 granting a discharge to the Commission in respect of the European Coal and Steel Community accounts for the financial year 1990  


Official Journal L 127 , 13/05/1992 P. 0017 - 0023 





DECISION OF THE EUROPEAN PARLIAMENT  of 8 April 1992  granting a discharge to the Commission in respect of the European Coal and Steel Community accounts for the financial year 1990  (92/250/ECSC)THE EUROPEAN PARLIAMENT,  - on the basis of the following figures (1) taken from the European Coal and Steel Community accounts as at 31 December 1990, in the light of the statement by the Court of Auditors of 28 June 1991 (2) that the accounts give a true and fair view of the  financial situation of the European Coal and Steel Community as at 31 December 1990, and in the light of the results of the ECSC's operations in the financial year ending on that date,  1. Grants the Commission discharge in respect of the accounts of the European Coal and Steel Community for the financial year 1990 (the figures for the out-turn of the operation budget for the financial year 1990 are also attached by way of  illustration);  2. Instructs the President to forward this decision and the resolution containing its observations to the Commission, the Council, the Court of Auditors and the ECSC Consultative Committee and to have them published in the Official Journal of the  European Communities (L Series). Done at Strasbourg, 8 April 1992.   The Secretary-General  The President  Enrico Vinci  Dr Egon KLEPSCH   Balance sheets at 31 December 1990 and 31 December 1989  (amounts expressed in ecus)  - Before allocation of profit -  ASSETS        31 December 1990  31 December 1989        Balances with central banks (note 3)   2 455 381   85 900  Loans and advances to credit institutions (note 4):      - repayable on demand  36 330 473   25 083 527   - with agreed maturity dates or  periods of notice  968 451 679   880 755 585   - loans  2 694 352 165    2 353 347 922    Total   3 699 134 317   3 259 187 034  Loans and advances to customers (note 5):      - loans  4 212 720 400   4 567 903 983   - levy  1 818 180   5 630 108   -  fines  1 702 087    18 745 917    Total   4 216 240 667   4 592 280 008  Debt securities including fixed-income securities (note 6):      - issued by public bodies  1 007 034 384   796 981 581   - issued by other borrowers  237 273 716   302 137 505    (including own-debt securities: 104 283 876 in 1990 and 97 100 176 in 1989)        Total   1 244 308 100   1 099 119 086  Tangible and intangible assets (note 7)   5 991 681   6 452 622  Other assets (note 8)   6 660 664   52 291 315  Prepayments and  accrued income (note 9)   294 513 076   270 025 870         TOTAL ASSETS   9 469 303 886   9 279 441 835        Off-balance-sheets commitments (note 24, p. 1)   2 475 819 034   1 173 114 513  - Before allocation of profit -  LIABILITIES        31 December 1990  31 December 1989        LIABILITIES VIS-A-VIS THIRD PARTIES      Amounts owed to credit institutions (note 10):      - repayable on demand  1 946 183   0   - with agreed maturity dates or periods of notice  90 177 871   64  750 534   - borrowings  3 210 329 694    3 639 907 617    Total   3 302 453 748   3 704 658 151  Debts evidenced by certificates (note 11)   3 462 281 500   3 023 747 481  Other liabilities (note 12)   145 747 865   85 289 620  Accruals and deferred  income (note 13)   257 939 731   275 459 841  Provisions for liabilities and charges (note 15)   5 437 682   4 741 757  Commitments for the ECSC Operating Budget (note 15)   1 176 182 496   1 120 320 224  TOTAL LIABILITIES VIS-A-VIS THIRD PARTIES   8  350 043 022   8 214 217 074  NET ASSETS      Provisions for financing the ECSC Operating Budget (note 16)   383 939 347   325 187 850  RESERVES (note 17):      - Guarantee fund  482 885 000   482 885 000   - Special reserve  188 980 000   188 980 000    - Former pension fund  54 887 556    53 698 379    Total   726 752 556   725 563 379  Revaluation reserve   7 139 997   12 799 169  Profit brought forward   485 186   893 213  Profit for the financial year   943 778    781 150   NET TOTAL   1 119 260  864    1 065 224 761   TOTAL LIABILITIES   9 469 303 886   9 279 441 835        Off-balance-sheet commitments (note 24, p. 2)   4 773 918 416   3 291 770 209  Profit-and-loss accounts for the years ending 31 December 1990 and 31 December 1989  (amounts expressed in ecus)  EXPENDITURE        31 December 1990  31 December 1989        Interest payable and similar charges:      - interest  706 897 548   660 357 516   - issuing costs and redemption premiums  14 853 731    12 194 039    Total   721 751 279   672 551 555  Commissions  payable   2 817 495   2 871 075  Net losses on financial operations:      - Foreign-exchange losses  81 272   0   - Losses on securities  4 236 067   0   - Value adjustments in respect of securities  0    21 657 319    Total   4 317 339   21 657 319   Administrative expenses (note 19)  5 000 000   5 000 000   Value adjustments in respect of tangible assets (note 7)  9 007 495   345 996   Other operating charges (note 20)  601 021   574 360   Value adjustments in respect of losses and advances and  provisions for contingent liabilities and for commitments:      - Value adjustment in respect of loans and advances  2 742 950     - Allocation to the provision for risks and charges  730 885    1 223 795    Total   18 082 351   7 144 151  TOTAL  OPERATING CHARGES   746 968 464   704 224 100  Extraordinary charges   32 272   683 369  Conversion difference   5 659 172   481 029  Legal commitments for the financial year (note 15)   445 277 280   407 310 119  Allocation to reserves for financing  the ECSC Operating Budget   311 851 569    286 887 850   TOTAL CHARGES   1 509 788 757   1 399 586 467  Profit for the financial year   943 778    781 150   TOTAL   1 510 732 535   1 400 367 617        REVENUE        31 December 1990  31 December 1989        Interest receivable and similar income (note 21):      - interest  (including interest on fixed-income securities: 106 346 129 in 1990 and 87 772 094 in 1989)  927 491 072   847 242 396   - issuing and redemption premiums  10 944 940    8 027 159    Total   938 436 012   855 269 555  Net profit on financial operations:       - foreign-exchange profits  0   0   - profits on securities  0   927 327   - value adjustments in respect of securities  2 770 868       Total   2 770 868   927 327  Value adjustments in respect of loans and advances and provisions:      - value  adjustments in respect of loans and advances  10 772 378   96 664 866   - transfer from the provisions for risks and charges  0       Total   10 772 378   96 664 866  Other operating income (note 22)   1 785 786   1 055 435  Extraordinary income (note  7)   9 640 148    0   TOTAL OPERATING INCOME   963 405 192   953 917 183  Conversion difference   0   460 741  Transfer from the value adjustment reserve   5 659 172   481 029  Income linked to the Operating Budget (note 23)   291 280 321   242 127 214   Transfer from the provision for financing the ECSC Operating Budget   250 387 850    203 381 450   TOTAL INCOME   1 510 732 535   1 400 367 617        Implementation of the ECSC operating budget for 1990  (ECU million)          Requirements  Forecast (1)  Outturn  Resources  Forecast (1)  Outturn         Operations to be financed from current resources (not reimbursable)      1. Administrative expenditure  5   5   2. Aid for redeployment (Article 56)  184   184    3. Aid for research (Article 55)  88   93,9   3.1. Steel   41   43,3  3.2. Coal   34   36,3  3.3. Social   13   14,3  4. Interest subsidies  68   82,2   4.1. Investment (Article 54)   10   13  4.2. Conversion (Article 56)   58   69,2  5. Social  measures in connection with the restructuring of the steel industry  50   45,2   6. Social measures in connection with the rationalization of the coal industry  40   40   Surplus     91,4        TOTAL  435   541,7   Resources for the financial year     1. Current resources    1.1. Yield from levy at 0,31 %  172  178,5  1.2. Net surplus from the preceeding financial year  139  206  1.3. Fines and surchanges for late payment (2)  14  6,9  1.4. Miscellaneous  t.e.  0,1  2. Cancellation of commitments  unlikely to be implemented  60  105,8 (3)  3. Unused resources carried over from 1989  t.e.  44,4  4. Extraordinary receipts    Social measures in connection with the restructuring of the steel industry  50  -  5. Utilization of the contigency reserve   t.e.  t.e.         TOTAL  435  541,7    Operations financed by loans from non-borrowed funds      Subsidized housing  12   12   Origin of non-borrowed funds    Special reserve and former ECSC pension fund  12  12  (1) In the light of the Commission's implementation forecast of 20 December 1989 (OJ No L 380, 29. 12. 1989).  (2) The amount of ECU 6,9 million represents the total received in 1990 but does not take into account the ECU 1,7 million due to the ECSC at 31 December 1990.  (3) Including the following amounts re-charged to the original lines:   technical steel research:  ECU 2,3 million  technical coal research:  ECU 2,3 million  social research:  ECU 1,3 million  interest subsidies on investment loans (Article 54):  ECU 3 million;  interest subsidies on conversion loans (Article 56):   ECU 11,2 million.  (1) The relevant tables are included after this proposal for a decision. (2) OJ No C 223, 28. 8. 1991, p. 29.   RESOLUTION  on the report of the Court of Auditors on the accounts of the European Coal and Steel Community at 31 December 1990 and on the report (annexed to the annual ECSC report for the 1990 financial year) of the Court of Auditors on the  management of the accounts and the financial management of the Economic Coal and Steel Community  THE EUROPEAN PARLIAMENT,  - having regard to the Economic Coal and Steel Community financial report for the 1990 financial year, submitted by the Commission (1), and in particular the balance sheet and profit and loss accounts of the ECSC at 31 December 1990,  - having regard to the report of the Court of Auditors on the accounts of the ECSC at 31 December 1990 (2) and the annex containing the report on the management of the accounts and the financial management of the European Coal and Steel Community  (C3-0068/92),  - having regard to the report of the Committee on Budgetary Control (A3-0089/92),  A. whereas the Court of Auditors has found that the financial statements of the ECSC at 31 December 1990 give a true and fair view of the results of its operations for the year then ended,  B. whereas there continues to be a need for the activities in the ECSC, and this need can not be expected to end within at least the next ten years,  C. whereas the ECSC Treaty is due to expire in 2002, and suitable provision must be made for the continuation, in some form, of its activities thereafter,  D. whereas the ECSC's instruments have enjoyed a high degree of success in confronting the problems they were designed to tackle,  1. Notes that the ratios calculated by the Commission for the reserves, and the ratios calculated by the Court of Auditors for the guarantee fund and own resources remain by and large static at a level at the upper end, or in excess, of the recommended  ranges, and that therefore, the gearing levels of the ECSC may be considered sound;  2. Calls on the Commission to review the policy of maintaining such high balance sheet ratios relative to the ranges recommended by the Court of Auditors, and to prepare, as a matter of urgency, proposals on interim arrangements to ensure the continuing  confidence of the financial markets in the ECSC's creditworthiness in the run-up to the expiry of the ECSC Treaty, and thereafter;  3. Requests a statement from the Commission explaining in detail its balance sheet management policies for the ECSC;  4. Calls again on the Commission to apply rigorous criteria when entering into new commitments or reviewing existing commitments, in order to ensure that funds are employed as effectively as possible;  5. Regrets the stagnation in the overall level of lending of the ECSC manifested over recent years, in spite of the availability of greater resources;  6. Calls on the Commission to increase the level of lending by the ECSC, particularly on social readaptation measures;  7. Underlines the necessity for improved coordination between ECSC instruments and the implementation of Community structural policies, with a view to the eventual integration of the former within the latter, upon expiry of the ECSC Treaty;  8. Reminds the Commission of the proven success of the various forms of ECSC intervention, of the importance of their retention, in suitably amended form, within the EEC Treaty, and of the absolute need that the budgetary authority be in a position to  exercise its full powers in their regard;  9. Urges the Commission to greater efforts in the promotion and publicising of ECSC instruments, in conjunction with its promotion of measures under Community structural policy, in order to increase public awareness of the opportunities available;  10. Calls on the Commission to take measures to improve the flow and quality of information from financial institutions administering ECSC global loans, with emphasis being placed on the importance of the financial institutions being represented on  monitoring committees;  11. Reaffirms its belief that the environmental impact of all Community expenditure, including that of the ECSC, is of the utmost importance, and that the mistakes of the past in this regard must serve as lessons for the future;  12. Instructs its President to forward this resolution to the Commission, the Council, the Court of Auditors and the ECSC Consultative Committee.   (1) OJ No C 223, 28. 8. 1991, p. 3. (2) OJ No C 223, 28. 8. 1991, p. 29.