Commission Regulation (EC) No 351/2002 of 25 February 2002 amending Council Regulation (EC) No 3605/93 as regards references to ESA 95
Date: 2002-02-25
Institutions: European Commission
Subjects: European accounting system, Protocol (EU), Treaty on European Union, public administration, public debt

26.2.2002

EN

Official Journal of the European Communities

L 55/23

COMMISSION REGULATION (EC) No 351/2002

of 25 February 2002

amending Council Regulation (EC) No 3605/93 as regards references to ESA 95

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European
Community,

Having regard to Council Regulation (EC) No 3605/93 of 22
November 1993 on the application of the Protocol on the
excessive deficit procedure annexed to the Treaty establishing
the European Community (1), as amended by Regulation (EC)
No 475/2000 (2), and in particular Article 7 thereof,

Whereas:

(1)

(2)

(3)

The definitions of ‘government’, ‘deficit’ and ‘investment’
are laid down in the Protocol on the excessive deficit
procedure annexed to the Treaty and in Regulation (EC)
No 3605/93, by reference to the European system of
national and regional accounts in the Community (here-
inafter referred to as ‘ESA 95’) established by Council
Regulation (EC) No 2223/96 of 25 June 1996 on the
European system of national and regional accounts in
the Community (3), as last amended by Commission
Regulation (EC) No 113/2002 (4).

Regulation (EC) No 2223/96 contains the reference
framework of common standards, definitions, classifica-
tions and accounting rules for drawing up the accounts
of the Member States for the statistical requirements of
the European Community, in order to obtain compar-
able results between Member States.

Regulation (EC) No 2558/2001 of the European Parlia-
ment and of the Council of 3 December 2001 amending
Council Regulation (EC) No 2223/96 as regards the

reclassification of settlements under swaps arrangements
and under forward rate agreements (5) has changed the
classification of interest flows under swap contracts and
forward rate agreements (FRAs) from income property
to financial account while stating at the same time the
need for a specific treatment of these flows for the data
transmitted under the excessive deficit procedure.

(4)

(5)

Regulation (EC) No 3605/93,
amended accordingly.

should therefore be

In order to avoid confusion concerning the application
of the new references to ESA 95, the measures provided
for in this Regulation should apply with effect from 1
January 2002,

HAS ADOPTED THIS REGULATION:

Article 1

Article 1(3) of Regulation (EC) No 3605/93 is amended as
follows:

1. the code ‘B.9’

is replaced by ‘EDP B.9’;

2. the code ‘D.41’

is replaced by ‘EDP D.41’.

Article 2

This Regulation shall enter into force on the day of its publica-
tion in the Official Journal of the European Communities.

This Regulation shall apply from 1 January 2002.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 25 February 2002.

For the Commission

Pedro SOLBES MIRA

Member of the Commission

(1) OJ L 332, 31.12.1993, p. 7.
(2) OJ L 58, 3.3.2000, p. 1.
(3) OJ L 310, 30.11.1996, p. 1.
(4) OJ L 21, 24.1.2002, p. 3.

(5) OJ L 344, 28.12.2001, p. 1.