Communication from the Commission to the European Parliament pursuant to the second subparagraph of Article 251(2) of the EC Treaty concerning the common position of the Council on the adoption of a proposal for a Regulation of the European Parliament and of the Council on the compilation of quarterly non-financial accounts by institutional sector
Date: 2005-04-08
Institutions: European Commission
Subjects: Economic and Monetary Union, Eurostat, economic statistics, national accounts

COMMISSION OF THE EUROPEAN COMMUNITIES 

Brussels, 8.4.2005 
COM(2005) 135 final 

2003/0296 (COD) 

COMMUNICATION FROM THE COMMISSION  
TO THE EUROPEAN PARLIAMENT 

pursuant to the second subparagraph of Article 251(2) of the EC Treaty 

concerning the 

common position of the Council on the adoption of a proposal for a Regulation of the 
European Parliament and of the Council on the compilation of quarterly non-financial 
accounts by institutional sector 

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2003/0296 (COD) 

COMMUNICATION FROM THE COMMISSION  
TO THE EUROPEAN PARLIAMENT 

pursuant to the second subparagraph of Article 251(2) of the EC Treaty 

concerning the 

common position of the Council on the adoption of a proposal for a Regulation of the 
European Parliament and of the Council on the compilation of quarterly non-financial 
accounts by institutional sector 

1. 

BACKGROUND TO THE FILE 

Date when the proposal was sent to the EP and to the Council 
(document COM(2003) 789 final – 2003/0296(COD)): 

16 December 2003 

Date of the European Central Bank opinion: 

4 February 2004 

Date of European Parliament opinion on first reading: 

30 March 2004 

Date of transmission of the amended proposal: 

None 

Date of adoption of the common position: 

8 March 2005 

2. 

OBJECTIVE OF THE COMMISSION PROPOSAL 

The proposal for a Regulation is intended to set up a European framework for the compilation 
and  transmission  of  quarterly  non-financial  accounts  by  institutional  sector.  These  accounts 
will  make  it  possible  to  analyse  at  European  level  the  behaviour  in  the  business  cycle  of 
economic  agents  such  as  households  and  companies.  They  will  be  an  important  tool  for 
guiding  monetary  policy  in  the  euro  zone  and  for  monitoring  the  economic  policies  of 
Member States. 

3. 

COMMENTS ON THE COMMON POSITION 

3.1. 

General Remarks 

The amendments made to  the common  position  in  no  way  change  the substance of 
the  draft  regulation.  They  delay  its  implementation  by  several  months  and  provide 
for  a  transition  period  to  allow  Member  States  to  comply  with  the  90-day  deadline 
laid  down  for  the  transmission  of  data.  The  common  position  does  not,  therefore, 
pose any particular problem for the Commission. 

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3.2. 

Remarks on the European Parliament amendment on first reading 

- accepted by the Commission and taken over in the common position: 

The European Parliament proposed a single amendment, intended to clarify the fifth 
recital. It specifies that the accounts of the European Institutions are to be included in 
the accounts of the zone in question (euro zone or European Union, as applicable). 

3.3. 

New provisions introduced by the Council 

The  amendments  made  by  the  Council  exclusively  concerned  Article  2  on  the 
procedures for the transmission of data: 

- the amendment to Article 2.2 specifies that more detailed data will not be asked for 
before the Commission has submitted to the European Parliament and the Council a 
report on the implementation of the Regulation in its original form. 

- the amendment to Article 2.3 introduces a three-year transition period from the date 
of  entry  into  force  of  the  Regulation,  during  which  Member  States  would  have  95 
days to transmit the data, rather than the 90 days provided for once the Regulation is 
fully operational. 

-  the  amendment  to  Article  2.5  pushes  back  by  six  months  the  date  on  which  data 
must be transmitted for the first time; these will thus cover the third, rather than the 
first, quarter of 2005. Member States shall deliver these data no later than 3 January 
2006 instead of 30 June 2005. 

The above amendments will give the Member States the time needed to comply with 
the requirements of the new Regulation without compromising the objectives set out 
in  the  Action  Plan  on  Economic  and  Monetary  Union  (EMU)  Statistical 
Requirements. They are therefore acceptable to the Commission. 

4. 

CONCLUSIONS 

The Commission states its agreement with the Council's common position. 

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