Commission Regulation (EC) No 1190/2007 of 11 October 2007 fixing the interest rates to be used for calculating the costs of financing intervention measures comprising buying-in, storage and disposal for the 2008 EAGF accounting year
Date: 2007-10-11
Institutions: European Commission
Subjects: aid to agriculture, costing, fund (EU), interest, intervention buying, sales aid, storage

12.10.2007

EN

Official Journal of the European Union

L 267/5

COMMISSION REGULATION (EC) No 1190/2007

of 11 October 2007

fixing the interest rates to be used for calculating the costs of financing intervention measures
comprising buying-in, storage and disposal for the 2008 EAGF 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),

Whereas:

(5)

(6)

rate is

I.2 of Annex IV to Regulation (EC) No
of point
that
884/2006 a specific interest
in the absence of any notification
Member State. Also,
from a Member State of the average rate of its interest
costs by the end of the year, the Commission fixes the
interest rate for that Member State at the level of the
uniform rate fixed for the Community.

fixed for

the Member

States’
Given
the
Commission, the interest rates applicable for the 2008
EAGF accounting year should be fixed taking the various
factors into account.

notifications

to

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

(1)

(2)

(3)

Under Article 3(1)(b) of Council Regulation (EC) No
1290/2005 of 21 June 2005 on the financing of the
common agricultural policy (2),
intervention measures
to regulate agricultural markets are financed by the
European Agricultural Guarantee Fund (EAGF).

Article 4(1)(a) of Commission Regulation (EC) No
884/2006 of 21 June 2006 laying down detailed rules
the application of Council Regulation (EC) No
for
1290/2005 as regards the financing by the European
Agricultural Guarantee Fund (EAGF) of
intervention
measures in the form of public storage operations and
the accounting of public storage operations by the
paying agencies of the Member States (3) provides that
expenditure relating to the financial costs incurred by
Member States in mobilising funds to buy in products
is to be determined in accordance with the methods set
out in Annex IV to that Regulation on the basis of a
uniform interest rate for the Community.

The uniform interest rate for the Community is the
the three-month and 12-month forward
average of
Euribor rates recorded in the six months preceding the
notification from the Member States provided for in
point
IV to Regulation (EC) No
884/2006, with a weighting of one third and two
thirds
the
beginning of each accounting year of the European Agri-
cultural Guarantee Fund (EAGF).

rate must be fixed at

respectively. That

I.2 of Annex

(4)

However, if the interest rate notified by a Member State
is lower than the uniform interest rate fixed for the
Community, in accordance with the second subparagraph

(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 209, 11.8.2005, p. 1. Regulation as last amended by Regu-

lation (EC) No 378/2007 (OJ L 95, 5.4.2007, p. 1).

(3) OJ L 171, 23.6.2006, p. 35. Regulation as amended by Regulation

(EC) No 721/2007 (OJ L 164, 26.6.2007, p. 4).

HAS ADOPTED THIS REGULATION:

Article 1

in mobilising funds

For expenditure relating to the financial costs incurred by
Member States
to buy in products
chargeable to the 2008 accounting year of the European Agri-
cultural Guarantee Fund (EAGF), the interest rates provided for
in Annex IV to Regulation (EC) No 884/2006 in accordance
with Article 4(1)(a) of that Regulation shall be:

(a) 3,0 % in the case of the specific interest rate applicable in

the Czech Republic;

(b) 3,4 % in the case of the specific interest rate applicable in

Sweden;

(c) 3,7 % in the case of the specific interest rate applicable in

Greece;

(d) 3,8 % in the case of the specific interest rate applicable in

Austria;

(e) 3,9 % in the case of the specific interest rate applicable in

France, Finland and Lithuania;

(f) 4,0 % in the case of the specific interest rate applicable in

Ireland;

L 267/6

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Official Journal of the European Union

12.10.2007

(g) 4,1 % in the case of the specific interest rate applicable in

Article 2

Italy;

(h) 4,3 % in the case of

the uniform interest rate for the
Community applicable to those Member States for which
no specific interest rate has been fixed.

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 2007.

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

Done at Brussels, 11 October 2007.

For the Commission

Mariann FISCHER BOEL
Member of the Commission