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13.10.2012 Official
Journal
of
the
European
Union
L
280/3
COMMISSION IMPLEMENTING REGULATION (EU) No 938/2012
of 12 October 2012
fixing the interest rates to be used for calculating the costs of financing intervention measures
comprising buying-in, storage and disposal for the 2013 EAGF accounting year
THE EUROPEAN COMMISSION,
declares that it did not bear any interest costs because it
did not have agricultural products in public storage
during the reference period, the uniform interest rate
Having regard to the Treaty on the Functioning of the European
fixed by the Commission applies to that Member State.
Union,
Austria, Bulgaria, the Czech Republic, Denmark, Estonia,
Greece, Spain, Italy, Cyprus, Latvia, Luxembourg Malta,
Poland, Portugal, Romania, Slovenia and Slovakia have
Having regard to Council Regulation (EC) No 1290/2005 of
declared that they did not bear any interest costs as
21 June 2005 on the financing of the common agricultural
they did not have any agricultural products in public
policy ( 1 ), and in particular Article 3(3) thereof,
storage during the reference period.
Whereas:
(5) Given
the
Member States’ notifications
to the
Commission, the interest rates applicable for the 2013
(1) Article
4(1)(a)
of
Commission
Regulation
(EC)
No
EAGF accounting year should be fixed taking the various
884/2006 of 21 June 2006 laying down detailed rules
factors into account.
for the application of Council Regulation (EC) No
1290/2005 as regards the financing by the European
(6) The
measures
provided
for
in
this
Regulation
are
in
Agricultural Guarantee Fund (EAGF) of intervention
accordance with the opinion of the Committee on the
measures in the form of public storage operations and
Agricultural Funds,
the accounting of public storage operations by the
paying agencies of the Member States ( 2 ) provides that
expenditure relating to the financial costs incurred by
HAS ADOPTED THIS REGULATION:
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.
Article 1
For expenditure relating to the financial costs incurred by
(2)
The first paragraph of point I.1 of Annex IV to Regu
Member States in mobilising funds to buy in products
lation (EC) No 884/2006 provides that the financial costs
chargeable to the 2013 accounting year of the European Agri
in question are to be calculated on the basis of a uniform
cultural Guarantee Fund (EAGF), the interest rates provided for
interest rate for the Union fixed by the Commission at
in Annex IV to Regulation (EC) No 884/2006 in accordance
the beginning of every accounting year. This interest rate
with Article 4(1)(a) of that Regulation shall be fixed at:
corresponds to the average of the three-month and 12-
month forward Euribor rates, recorded in the six months
preceding the notification from the Member States
(a) 0,2 % in the case of the specific interest rate applicable in
provided for in the first paragraph of point I.2 of the
Finland;
aforementioned Annex IV, with a weighting of one third
and two thirds respectively. That rate must be fixed at the
(b) 0,3 % in the case of the specific interest rate applicable in
beginning of each accounting year of the EAGF.
Germany;
(3) However,
if
the
interest
rate
notified
by
a
Member
State (c) 0,5 % in the case of the specific interest rate applicable in
is lower than the uniform interest rate fixed for the
the United Kingdom and in Ireland;
Union, in accordance with the second paragraph of
point I.2 of Annex IV to Regulation (EC) No
884/2006, the interest rate is to be fixed at the level
(d) 0,9 % in the case of the specific interest rate applicable in
of the rate notified.
Belgium;
(4)
Furthermore, in accordance with the third paragraph of
(e) 1,0 % in the case of the uniform interest rate for the Union
point I.2 of Annex IV to Regulation (EC) No 884/2006,
applicable to the other Member States.
in the absence of any notification from a Member State,
in the form and by the deadline referred to in the first
paragraph of point I.2 of the aforementioned Annex IV,
Article 2
the interest rate borne by that Member State is to be
This Regulation shall enter into force on the day of its
considered as being 0 %. Where a Member State
publication in the Official Journal of the European Union.
( 1 ) OJ L 209, 11.8.2005, p. 1.
( 2 ) OJ L 171, 23.6.2006, p. 35.
It shall apply from 1 October 2012.

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L 280/4
EN
Official Journal of the European Union
13.10.2012
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 12 October 2012.
For the Commission
The President
José Manuel BARROSO

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Document Outline

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