HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"L 271/42
EN
Official Journal of the European Union
18.10.2011
COMMISSION IMPLEMENTING REGULATION (EU) No 1036/2011
of 17 October 2011
fixing the interest rates to be used for calculating the costs of financing intervention measures
comprising buying-in, storage and disposal for the 2012 EAGF accounting year
THE EUROPEAN COMMISSION,
considered as being 0 %. Where a Member State declares
that it did not bear any interest costs because it did not
have agricultural products in public storage during the
Having regard to the Treaty on the Functioning of the European
reference period, the uniform interest rate fixed by the
Union,
Commission applies to that Member State. Denmark,
Italy, Luxembourg, Malta, Portugal and Slovenia have
declared that they did not bear any interest costs as
Having regard to Council Regulation (EC) No 1290/2005 of
they did not have any agricultural products in public
21 June 2005 on the financing of the common agricultural
storage during the reference period.
policy ( 1 ), and in particular Article 3(3) thereof,
(5) Given
the
Member States’ notifications
to the
Whereas:
Commission, the interest rates applicable for the 2012
EAGF accounting year should be fixed taking the various
factors into account.
(1) Article
4(1)(a)
of
Commission
Regulation
(EC)
No
884/2006 of 21 June 2006 laying down detailed rules
for the application of Council Regulation (EC) No
(6) The
measures
provided
for
in
this
Regulation
are
in
1290/2005 as regards the financing by the European
accordance with the opinion of the Committee on the
Agricultural Guarantee Fund (EAGF) of intervention
Agricultural Funds,
measures in the form of public storage operations and
the accounting of public storage operations by the
paying agencies of the Member States ( 2 ) provides that
HAS ADOPTED THIS REGULATION:
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
Article 1
out in Annex IV to that Regulation.
For expenditure relating to the financial costs incurred by
Member States in mobilising funds to buy in products
(2)
The first paragraph of point I.1 of Annex IV to Regu
chargeable to the 2012 accounting year of the European Agri
lation (EC) No 884/2006 provides that the financial costs
cultural Guarantee Fund (EAGF), the interest rates provided for
in question are to be calculated on the basis of a uniform
in Annex IV to Regulation (EC) No 884/2006 in accordance
interest rate for the Union fixed by the Commission at
with Article 4(1)(a) of that Regulation shall be fixed at:
the beginning of every accounting year. This interest rate
corresponds to the average of the three-month and 12-
month forward Euribor rates, recorded in the six months
(a) 0,0 % in the case of the specific interest rate applicable in
preceding the notification from the Member States
Cyprus, Estonia and Latvia;
provided for in the first paragraph of point I.2 of the
aforementioned Annex IV, with a weighting of one third
(b) 0,5 % in the case of the specific interest rate applicable in
and two thirds respectively. That rate must be fixed at the
Finland;
beginning of each accounting year of the EAGF.
(c) 0,6 % in the case of the specific interest rate applicable in
(3) However,
if
the
interest
rate
notified
by
a
Member
State
the United Kingdom;
is lower than the uniform interest rate fixed for the
Union, in accordance with the second paragraph of
point I.2 of Annex IV to Regulation (EC) No
(d) 0,9 % in the case of the specific interest rate applicable in
884/2006, the interest rate is to be fixed at the level
Germany;
of the rate notified.
(e) 1,0 % in the case of the specific interest rate applicable in
(4)
Furthermore, in accordance with the third paragraph of
Ireland;
point I.2 of Annex IV to Regulation (EC) No 884/2006,
in the absence of any notification from a Member State,
in the form and by the deadline referred to in the first
(f) 1,2 % in the case of the specific interest rate applicable in
paragraph of point I.2 of the aforementioned Annex IV,
Belgium;
the interest rate borne by that Member State is to be
( 1 ) OJ L 209, 11.8.2005, p. 1.
(g) 1,3 % in the case of the specific interest rate applicable in
( 2 ) OJ L 171, 23.6.2006, p. 35.
Austria;

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EN
18.10.2011 Official
Journal
of
the
European
Union L
271/43
(h) 1,4 % in the case of the specific interest rate applicable in
Article 2
the Czech Republic;
This Regulation shall enter into force on the day of its publi
(i) 1,8 % in the case of the specific interest rate applicable in
cation in the Official Journal of the European Union.
Sweden;
(j) 1,9 % in the case of the uniform interest rate for the Union
applicable to the other Member States.
It shall apply from 1 October 2011.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 17 October 2011.
For the Commission
The President
José Manuel BARROSO

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