Decision 1991/115 - 91/115/EEC: Council Decision of 25 February 1991 establishing a committee on monetary, financial and balance of payments statistics - Main contents

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91/115/EEC: Council Decision of 25 February 1991 establishing a committee on monetary, financial and balance of payments statistics

Official Journal L 059 , 06/03/1991 P. 0019 - 0020

Finnish special edition: Chapter 10 Volume 1 P. 0064

Swedish special edition: Chapter 10 Volume 1 P. 0064

COUNCIL DECISION of 25 February 1991 establishing a Committee on monetary, financial and balance of payments statistics (91/115/EEC)

THE COUNCIL OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Economic Community,

Having regard to the draft decision submitted by the Commission (1),

Having regard to the opinion of the European Parliament (2),

Having regard to the opinion of the Economic and Social Committee (3),

Whereas Council Decision 90/141/EEC of 12 March 1990 on the attainment of progressive convergence of economic policies and performance during stage one of economic and monetary union (4) entails the need for the availability of consistent indicators, particularly in the monetary, financial and balance of payments areas;

Whereas Council Decision 90/142/EEC of 12 March 1990 amending Decision 64/300/EEC on cooperation between the central banks of the Member States of the European Economic Community (5) aims in particular at promoting the coordination of monetary policy which necessarily depends on common surveillance indicators;

Whereas there is therefore a need to establish, as a section of the multiannual statistical programme of the Commission, a multiannual work programme in the field of monetary, financial and balance of payments statistics;

Whereas by Decision 89/382/EEC, Euratom (6) the Council set up a Committee on the Statistical Programme of the European Communities, comprising representatives of the Member States statistical institutes, to ensure close cooperation between Member States and the Commission whilst the statistical programme is established;

Whereas, in Member States, monetary and banking statistics are drawn up by central banks, and financial and balance of payments statistics are drawn up by various institutions, including central banks;

Whereas there is at present no body which ensures close cooperation between Member States and the Commission in the fields of monetary, financial and balance of payments statistics on which the principal national institutions concerned are represented;

Whereas it is necessary, in order to achieve such cooperation, in particular with a view to achieving Economic and Monetary Union, to establish a committee composed of representatives of these institutions, which is charged with aiding the Commission in drawing up and implementing the multiannual work programme relating to monetary, financial and balance of payments statistics;

Whereas, having regard to the specific role played in the Member States by the aforementioned institutions, it is necessary to allow the committee to choose its chairman;

Whereas there is, from the point of view of statistics, a close interdependence between the monetary, financial and balance of payments areas on the one hand, and certain other areas of economic statistics on the other hand;

Whereas the increased demand from the Member States and Community institutions for improved statistical information requires the enhancement of cooperation between the users and producers of monetary, financial and balance of payments statistics;

Whereas an examination of whether the Committee's tasks will meet the needs of any future European Central Bank System should be carried out in the framework of the achievement of Economic and Monetary Union,

HAS DECIDED AS FOLLOWS:

Article 1

A Committee on Monetary, Financial and Balance of Payments Statistics, hereinafter called 'the Committee', is hereby established.

Article 2

The Committee shall assist the Commission in drawing up and implementing the multiannual programme of work relating to monetary,...

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