Legislative resolution embodying Parliament's opinion on the proposal for a European Parliament and Council Directive amending Directive 87/102/EEC (as amended by Directive 90/88/EEC) relating to the approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit (COM(96)0079 C4- 0243/96 96/0055(COD))
Date: 1997-02-20
Institutions: Committee on Legal Affairs, European Parliament
Subjects: approximation of laws, consumer credit













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51996AP0345

Legislative resolution embodying Parliament's opinion on the proposal for a European Parliament and Council Directive amending Directive 87/102/EEC (as amended by Directive 90/88/EEC) relating to the approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit (COM(96)0079 C4- 0243/96 96/0055(COD))  


Official Journal C 085 , 17/03/1997 P. 0108 





A4-0345/96Proposal for a European Parliament and Council Directive amending Directive 87/102/EEC (as amended by Directive 90/88/EEC) relating to the approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit COM(96)0079 - C4-0243/96 - 96/0055(COD))The proposal was approved with the following amendments:((OJ C 235, 13.8.1996, p. 8.))(Amendment 1)Recital 3a (new)>Text following EP vote>Whereas, if credit offers are to be compared, this will require not only the harmonization of methods for calculating the annual percentage rate of charge but also the adoption of a standard definition of the components of the annual percentage rate of charge, in order to avoid the risk of creating a false transparency as regards credit offers,(Amendment 2)Recital 8>Original text>Whereas accuracy to two decimal places and the use of a 365 or 366 day year is necessary,>Text following EP vote>Whereas the annual percentage rate of charge should be calculated on the basis of a uniform calculation method which assumes a 365-day year,(Amendment 3)ARTICLE 1>Original text>Article 1Whenever the term 'annual percentage rate of charge', or the equivalent term in another Community language, is used as required by Directive 87/102, it shall be accompanied by the following symbol:(symbol)>Text following EP vote>Deleted(Amendment 4)ARTICLE 5Article 3 (Directive 87/102/EEC as amended by Directive 90/88/EEC)>Original text>Without prejudice to Council Directive 84/450/EEC of 10 September 1984 relating to the approximation of the laws, regulations and administrative provisions of the Member States concerning misleading advertising, as amended by Council Directive ../96 of ... 1996 concerning comparative advertising, and to the rules and principles applicable to unfair advertising, any advertisement, or any offer which is displayed at business premises, in which a person offers credit or offers to arrange a credit agreement and in which a rate of interest or any figures relating to the cost of the credit are indicated, shall also include a statement of the annual percentage rate of charge, accompanied by the symbol as mentioned in Article 1 of this Directive, by means of a representative example if no other means is practicable.>Text following EP vote>Without prejudice to Council Directive 84/450/EEC of 10 September 1984 relating to the approximation of the laws, regulations and administrative provisions of the Member States concerning misleading advertising, as amended by Council Directive ../96 of ... 1996 concerning comparative advertising, and to the rules and principles applicable to unfair advertising, any advertisement, or any offer which is displayed at business premises, in which a person offers credit or offers to arrange a credit agreement and in which a rate of interest or any figures relating to the cost of the credit are indicated, shall also mention the annual percentage rate of charge.(Amendment 5)ARTICLE 6Article 4(2)(a) (Directive 87/102/EEC as amended by Directive 90/88/EEC)>Original text>Article 4(2)(a) shall be amended as follows:"(a) a statement of the annual percentage rate of charge, accompanied by the symbol as mentioned in Article 1 of this Directive;¨.>Text following EP vote>Deleted(Amendment 6)ARTICLE 9(1), 1st subparagraph>Original text>1. Member States shall bring into force the laws, regulations and administrative provisions necessary for them to comply with this Directive no later than 31 December 1996 and shall inform the Commission thereof.>Text following EP vote>1. Member States shall bring into force the laws, regulations and administrative provisions necessary for them to comply with this Directive no later than 1 January 1999 and shall inform the Commission thereof.(Amendment 7)ANNEX IAnnex II, remark (c) (Directive 87/102/EEC as amended by Directive 90/88/EEC)>Original text>(c) Intervals between dates used in the calculations shall be expressed in years or in fractions of a year. A year is presumed to have 365 or 366 days.>Text following EP vote>(c) Intervals between dates used in the calculations shall be expressed in years or in fractions of a year. A uniform calculation (365 days/12 months = 30.41666 days) on the basis of a 365-day year is assumed.(Amendment 8)ANNEX IAnnex II, remark (d) (Directive 87/102/EEC as amended by Directive 90/88/EEC)>Original text>(d) The result of the calculation shall be expressed with an accuracy of 2 decimal places. If the figure at the third decimal place is greater than or equal to 5, the figure at the second decimal place shall be increased by one.>Text following EP vote>DeletedLegislative resolution embodying Parliament's opinion on the proposal for a European Parliament and Council Directive amending Directive 87/102/EEC (as amended by Directive 90/88/EEC) relating to the approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit (COM(96)0079 - C4-0243/96 - 96/0055(COD))(Codecision procedure: first reading)The European Parliament,- having regard to the Commission proposal to Parliament and the Council, COM(96)0079 - 96/0055(COD) ((OJ C 235, 13.8.1996, p. 8.)),- having regard to Articles 189b(2) and 100a of the EC Treaty, pursuant to which the Commission submitted the proposal to Parliament (C4-0243/96),- having regard to Rule 58 of its Rules of Procedure,- having regard to the report of the Committee on Legal Affairs and Citizens' Rights (A4-0345/96),1. Approves the Commission proposal subject to Parliament's amendments;2. Calls on the Commission to alter its proposal accordingly pursuant to Article 189a(2) of the EC Treaty;3. Calls on the Council to incorporate Parliament's amendments in the common position that it adopts in accordance with Article 189b(2) of the EC Treaty;4. Should the Council intend to depart from the text approved by Parliament, calls on the Council to notify Parliament and requests that the conciliation procedure be initiated;5. Points out that the Commission is required to submit to Parliament any modification it may intend to make to its proposal as amended by Parliament;6. Instructs its President to forward this opinion to the Council and Commission.