(c) guidance on variables that indicate ▐the build-up of system-wide risk associated with periods of excessive credit growth in a financial system, in particular the relevant credit-to-GDP-ratio and its deviation from the long-term trend, and on other relevant factors, including the treatment of economic developments within individual sectors of the economy, that should inform the decisions of designated authorities on the appropriate countercyclical buffer rate under Article 126;

Where one or more requests for exemption have been granted, EBA shall, as well as forwarding its decision, notify the lending Deposit Guarantee Schemes not exempted from their commitment of the amounts to be lent by each scheme not granted exemption, as calculated pursuant to paragraph 2(а), and of the initial interest rate pursuant to paragraph 2(c) and the duration of the loan.

[68] PAYT schemes are also referred to as variable-rate schemes or unit pricing schemes.

I would also like to congratulate you on the change of method of adjudication, since the new variable rate system allows more direct control of the monetary aggregate as a result of greater knowledge of the market’s demand curve and, furthermore, allows for certain signals to be sent to the markets on monetary policy.

The system is based on tariff preferences at variable rates, accompanied by trade-related capacity building.

Whereas, as a result of the implementation of the agreements concluded under the Uruguay Round of multilateral trade negotiations, the system of variable agricultural levies has been replaced by fixed common customs duties; whereas a feature of the olive oil sector are naturally fluctuating harvests that result in erratic olive oil production in the Community; whereas experience has shown that, to ensure supplies to the market and to prevent significant price fluctuations, the option of allowing imports at a reduced rate of duty should be provided for;