1 euro Reference and recovery rates in the field of State aid

(2005/C 48/02)

1. Reference rate

The Commission adopts the following reference rates for the new Member States:

In force from: | CY | CZ | EE | HU | LV | LT | MT | PL | SK | SI |

1.1.2005 | 6,33 | 4,86 | 5,50 | 8,59 | 6,64 | 6,49 | 7,00 | 7,62 | 7,55 | 5,10 |

1.5.2004 | 6,33 | 5,00 | 5,50 | 8,59 | 6,64 | 6,49 | 7,00 | 9,56 | 7,55 | 5,10 |

These rates are fixed on the basis of the method for setting and updating the reference/discount rates published in the Official Journal C 273, 9.9.1997, p. 3. Technical adaptations to this method were made by Commission notice published in Official Journal C 241, 26.8.1999, p. 9. This is the first time this method is applied for Poland and the Czech Republic.

For Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Slovakia and Slovenia, the method is not applicable due to the unavailability of inter-banking swap rates for their currencies. For these Member states the reference/discount rate is still this which was communicated by these Member States for use at the moment of accession.

2. Recovery rate

The Commission adopts the following recovery rates pursuant to Article 9 of Regulation 794/2004 for the following new Member States:

In force from: | CZ | PL |

1.5.2004 | 4,86 | 7,62 |

3. Publication

These figures will be published in the Official Journal of the European Union and on the internet site of DG COMP.

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