WRITTEN QUESTION No. 1060/99 by Carlos BRU PURÓN Commission fees in exchange transactions
Date: 1999-04-20
Institutions: BRU PURON, European Parliament
Subjects: Economic and Monetary Union, bank, bank charges, euro area, exchange transaction

C 370/158

Official Journal of the European Communities

EN

21.12.1999

(1999/C 370/223)

WRITTEN QUESTION E-1043/99

by Ilona Graenitz (PSE) to the Commission

(20 April 1999)

Subject: Screening the candidate countries’ environmental legislation

What date has been taken as the basis in the screening of the candidate countries’ environmental
legislation?

Will this date be adjusted to allow for the length of the negotiations?

Answer given by Mr van den Broek on behalf of the Commission

(7 May 1999)

The screening of the environmental acquis takes into account all Community measures adopted by
1 January 1999. Measures adopted by the Community after this date are also to be screened in order to
evaluate their transposition and implementation in the candidate countries. The Commission will therefore
discuss the newly adopted measures with the candidate countries at an appropriate moment in the
negotiation process.

(1999/C 370/224)

WRITTEN QUESTION E-1060/99

by Carlos Bru Purón (PSE) to the Commission

(20 April 1999)

Subject: Commission fees in exchange transactions

As a future precaution, this year certain banks in the euro zone have begun taking the opportunity to
charge commission fees on exchange transactions in European currencies which exceed 25 % in some
cases. Moreover, they are operating a regressive system, since it is the high rates which are applied to
exchange transactions involving small sums.

Does the Commission intend to warn banks and banking associations in the Member States participating
in economic and monetary union of the harmful effects which this eleventh-hour dash for profits will have
on their future business?

Answer given by Mr Monti on behalf of the Commission

(7 May 1999)

The Commission wishes to inform the Honourable Member that it has indeed already contacted banks and
banking associations concerning charges levied by banks for euro area banknote exchange. In a letter to
the main European banking federations in January 1999, the Commission emphasised that it is of
paramount importance that public confidence in the introduction of the euro and the credibility of the
banking system as a whole should not be undermined by financial institutions drawing unfair benefit from
increases in charges for transactions between former national currencies within the euro zone. Again on
5 February 1999, in a press statement (1) the Commission called on banks to further increase transparency
by making publicly available information showing changes in the total level of charges (before and after
the introduction of the euro) for exchanging euro zone banknotes and cross border cheques, transfers and
card payments. The Commission has also recently made publicly available an analysis of complaints
received through its specially created e-mail and fax service announced in IP/99/90. The banking
associations have also been asked to react to the information contained in this analysis.

The Honourable Member may also refer to the Commission’s answers to Written Questions E-3825/98 by
Mr Caudron (2) and P-52/99 by Mr Tamino (3) and to the answer to Oral Questions O-29/99 by