WRITTEN QUESTION E-3837/00 by Daniela Raschhofer (NI) to the Commission. Concerted practices with regard to the value date for bank transfers.
Date: 2000-12-07
Institutions: European Parliament, Provisional data
Subjects: credit transfer, intra-EU trade

19.6.2001

EN

Official Journal of the European Communities

C 174 E/159

Answer given by Mr Fischler on behalf of the Commission

(23 January 2001)

Commission Regulation (EC) No 615/98 of 18 March 1998 laying down specific detailed rules of
application for the export refund arrangements as regards the welfare of live bovine animals during
transport provides in its Articles 2 and 3 respectively for checking of all consignments on exit from the
Community and for targeted checks when the animals are unloaded in the non-EU countries. Under Article
5(3) of the Regulation the national authority responsible for refund payments decides, in the light of the
check report and/or any other relevant information at its disposal, whether the provisions of the Directive
on protection of animals during transport were respected and the refund is to be paid.

A summary table showing the financial impact of Member States(cid:146) application of the Regulation is being
sent to the Honourable Member and Parliament(cid:146)s Secretariat for information. Between 1 September 1998
and 30 June 2000 refunds were refused on 3150 animals.

Application of Regulation (EEC) No 615/98 features on the agenda of the committee within whose remit
its management falls. Discussions will continue with the Member States in order to arrive at more uniform
application.

The Commission is also in contact with Member States(cid:146) paying agencies in order to assess application of
Regulation (EC) No 615/98 more thoroughly.

(2001/C 174 E/166)

WRITTEN QUESTION E-3837/00

by Daniela Raschhofer (NI) to the Commission

(7 December 2000)

Subject: Concerted practices with regard to the value date for bank transfers

In its reply to question E-2963/00, the Commission states that it has no information about interest gains
or losses due to the practice with regard to value dates for bank transfers.

As transfers are not made in real time, either nationally or within the EU as a whole:

1. When a transfer is made, what date does the transferring bank take as the value date for the transfer

from the payer(cid:146)s account?

2. What is the value date for entering the amount transferred in the recipient(cid:146)s account?

3. Who receives the interest during the transfer period?

4.

If interest accrues to the banks involved during this period, in what proportions is it divided?

5. Can the Commission say whether there are agreements between the banks concerning the apportion-

ment of interest during the transfer period?

6. Might a uniform practice contravene European competition rules as constituting a concerted practice?

Answer given by Mr Bolkestein on behalf of the Commission

(19 January 2001)

Both cross-border and national transfers are based on legal transactions between customers and their credit
institutions. For this reason, the value date applied to the transferor(cid:146)s account is essentially subject to
freedom of contract, or possibly to specific national rules.

C 174 E/160

Official Journal of the European Communities

EN

19.6.2001

Directive 97/5/EC of the European Parliament and of the Council of 27 January 1997 on cross-border
credit transfers (1) requires that, in the absence of any agreed time limit, the transfer be credited to the
recipient(cid:146)s account at the latest at the end of the sixth banking business day following the date of
acceptance of the cross-border credit transfer order (2).

Credit institutions are also required to provide customers with information on the value date applied (3).

It must be stressed that the question of whether credit institutions pay interest to their customers and how
much they pay is a matter for the general terms of business or for contractual agreements between the
institutions concerned and their customers. There are no general european legal obligations which apply in
this context, nor is there any agreed practice within the Community. Rather, it is an area subject to free
competition.

During the transfer period, interest does not normally accrue to the banks, but they benefit from the
availability of the funds and from the fact that they may have no interest to pay during this period.
Distribution during the transfer period depends on what practice is followed under the settlement system
used.

The Commission has no information on this subject.

If a uniform practice corresponds to the criteria set by the European Court of Justice for concerted
practices, it may constitute a breach of Article 81 (formerly Article 85) of the EC Treaty.

(1) OJ L 43, 14.2.1997.
(2) Article 6 of Directive 97/5/EC.
(3) Articles 3 and 4 of Directive 97/5/EC.

(2001/C 174 E/167)

WRITTEN QUESTION E-3839/00

by Brian Crowley (UEN) to the Council

(7 December 2000)

Subject: Deteriorating situation in Sierra Leone

Despite the Peace Agreement in Sierra Leone, there are reports of continued killing, mutilation, rape,
abduction and child abuse.

1. Will the Council
implementation of the provisions of the Peace Agreement?

indicate what actions are being undertaken at EU level to help to secure the

2. Will the Council use whatever means are open to it to put pressure on the armed opposition
Revolutionary Front and its leadership to end all human rights abuses against civilians and to find a just
and fair solution to the current problems?

3. Will the Council
women committed either by rebel forces or police forces?

issue a statement condemning the rapes and sexual violence against girls and

4. Will the Council address the issue of impunity of human rights abusers as a matter of priority?