ECSC financial report for the year 1974

Abstract

The figures in this report and the attached ECSC balance sheet, together with the main features of the loans contracted, are expressed in units of account, which in the present report will be written u.a. 1. Decision No 3541/73/ECSC of 19 December 19731 on the definition of the unit of account to be used in Decisions, Recommendations, Opinions and Com-muniqués for the purposes of the Treaty establishing the European Coal and Steel Community set the value of the unit of account at 0.88867068 grammes of fine gold; 2. Decision No 3542/73/ECSC of 19 December 197Y, extended by Decision No 3328/74/ECSC3 on the conversion rates for currencies expressed in units of account for certain purposes of the Treaty establishing the ECSC, set the conversion procedure for currencies used on the basis of rates prevailing on specifie dates or during particular reference periods.