Commission Regulation (EC) No 981/2007 of 21 August 2007 amending Regulation (EC) No 1489/2006 fixing the interest rates to be used for calculating the costs of financing intervention measures comprising buying-in, storage and disposal for the 2007 EAGF accounting year
Date: 2007-08-21
Institutions: European Commission
Subjects: EAGGF Guarantee Section, EU financing, Hungary, intervention buying, sales aid, storage premium

22.8.2007

EN

Official Journal of the European Union

L 217/21

COMMISSION REGULATION (EC) No 981/2007

of 21 August 2007

amending Regulation (EC) No 1489/2006 fixing the interest rates to be used for calculating the costs
of financing intervention measures comprising buying-in, storage and disposal for the 2007 EAGF
accounting year

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

(3)

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
and in particular
Guarantee
Article 5 thereof,

Fund, Guarantee Section (1),

Whereas:

(1)

(2)

1

of Commission Regulation

(EC) No
Article
1489/2006 (2)
fixes the interest rates to be used for
calculating the costs of financing intervention measures
comprising buying-in, storage and disposal for the 2007
EAGF accounting year.

Article 5 of Regulation (EEC) No 1883/78 was amended
by Regulation (EC) No 734/2007 to take account of the
fact that in some Member States these operations can be
financed only at
interest rates which are appreciably
higher than the uniform interest rate. It was therefore
laid down, by way of derogation for the 2007 and
2008 financial years, that,
if the average interest rate
borne by a Member State in the course of the third
month following the reference period used by the
Commission for determining the uniform interest rate
the
is more than twice the uniform interest
costs
Commission may,
incurred by that Member State, cover
the amount
which corresponds to the interest rate borne by this
Member State minus the uniform rate of
It
was also laid down that this measure applied to expen-
diture incurred by the Member States from 1 October
2006.

in financing

interest.

interest

rate,

the

in the light of Member States’ notifi-
It would appear,
cations to the Commission in respect of the third month
following the reference period used for determining the
uniform interest rate for the 2007 accounting year, that
one Member State is concerned by this new measure. The
specific interest rate should therefore be fixed for that
Member State for the 2007 accounting year.

Regulation (EC) No 1489/2006 should therefore be
amended accordingly.

Since Regulation (EC) No 734/2007 applies
1 October 2006,
from that date.

from
this Regulation should also apply

The measures provided for in this Regulation are in
accordance with the opinion of the Committee on the
Agricultural Funds,

(4)

(5)

(6)

HAS ADOPTED THIS REGULATION:

Article 1

The following point is added to Article 1 of Regulation (EC)
No 1489/2006:

‘(h) 4,8 % in the case of the specific interest rate applicable in

Hungary.’

Article 2

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

It shall apply from 1 October 2006.

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

Done at Brussels, 21 August 2007.

For the Commission

Mariann FISCHER BOEL
Member of the Commission

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

(EC) No 734/2007 (OJ L 169, 29.6.2007, p. 5).

(2) OJ L 278, 10.10.2006, p. 11.