Commission Regulation (EC) No 1668/2005 of 13 October 2005 fixing the interest rates to be used for calculating the costs of financing intervention measures comprising buying-in, storage and disposal for the 2006 EAGGF Guarantee Section accounting year
Date: 2005-10-13
Institutions: European Commission
Subjects: EAGGF Guarantee Section, interest, intervention agency, intervention buying, intervention stock

L 269/4

EN

Official Journal of the European Union

14.10.2005

COMMISSION REGULATION (EC) No 1668/2005

of 13 October 2005

fixing the interest rates to be used for calculating the costs of financing intervention measures
comprising buying-in, storage and disposal for the 2006 EAGGF Guarantee Section accounting year

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty
Community,

establishing the European

Having regard to Council Regulation (EEC) No 1883/78 of 2
August 1978 laying down general rules for the financing of
interventions by the European Agricultural Guidance and
Guarantee
and in particular
Article 5 thereof,

Fund, Guarantee Section (1),

interest costs on the basis of the uniform interest rate
plus the difference between twice that rate and the actual
rate borne by the Member State concerned.

(5)

Given the Member States’
to the
Commission, the interest rates applicable for the 2006
EAGGF Guarantee Section accounting year should be
fixed in the light of the various factors into account.

communications

(6)

The measures provided for in this Regulation are in
accordance with the opinion of the EAGGF Committee,

Whereas:

HAS ADOPTED THIS REGULATION:

(1)

(2)

(3)

(4)

Article 3 of Commission Regulation (EEC) No 411/88 of
12 February 1988 on the method and the rate of interest
to be used for calculating the costs of financing inter-
vention measures comprising buying-in,
storage and
disposal (2),
the uniform interest rate
lays down that
used for calculating the costs of financing intervention
to correspond to the three-month and
measures
12-month forward Euribor rates with a weighting of
one third and two thirds respectively.

is

The Commission fixes this rate before the beginning of
each EAGGF Guarantee Section accounting year on the
basis of the rates recorded in the six months preceding
fixing.

In accordance with Article 4(1) and (2) of Regulation
(EEC) No 411/88, a specific interest rate is to be fixed
for Member States which, for six months or more, have
borne an interest rate lower than the uniform interest
for the Community. Where a Member State
rate set
has
its
interest costs before the end of
the accounting year,
the specific interest to be applied is determined on the
basis of the reference interest rates shown in the Annex
to the said Regulation.

failed to communicate the average rate of

Article 4(3) of Regulation (EEC) No 411/88 lays down
that, for accounting years 2005 and 2006, where the
average rate of interest costs borne by a Member State
is more than twice the uniform interest rate determined
for the Community, the Community may reimburse the

(1) OJ L 216, 5.8.1978, p. 1. Regulation as last amended by Regulation

(EC) No 695/2005 (OJ L 114, 4.5.2005, p. 1).

(2) OJ L 40, 13.2.1988, p. 25. Regulation as last amended by Regu-

lation (EC) No 956/2005 (OJ L 164, 24.6.2005, p. 8).

Article 1

For expenditure incurred during the 2006 EAGGF Guarantee
Section accounting year:

1. the uniform interest rate referred to in Article 5 of Regu-
lation (EEC) No 1883/78 shall be 2,2 % for Member States
other than those listed in points 2 and 3 below;

2. the specific interest rate referred to in Article 4(1) of Regu-

lation (EEC) No 411/88 shall be:

(a) 2,1 % for
Finland;

the Czech Republic, France, Austria and

(b) 1,8 % for Sweden;

3. the interest rate reimbursed according to Article 4(3) of

Regulation (EEC) No 411/88 shall be:

(a) 3,2 % for Cyprus;

(b) 5,1 % for Hungary;

(c) 3,0 % for Poland;

(d) 2,8 % for Slovenia;

(e) 2,3 % for the United Kingdom.

14.10.2005

EN

Official Journal of the European Union

L 269/5

Article 2

This Regulation shall enter into force on the day of its publication in the Official Journal of the European
Union.

It shall apply from 1 October 2005.

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

Done at Brussels, 13 October 2005.

For the Commission

Mariann FISCHER BOEL
Member of the Commission