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Article 1

Directive 98/7/EC of the European Parliament and of the Council of 16 February 1998 amending Directive 87/102/EEC for the approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit · European Union

Directive 87/102/EEC shall be amended as follows: (*) OJ L 250, 19.9.1984, p. 17. Directive as last amended by Directive 97/55/EC (OJ L 280, 23.10.1997, p. 18).`; Article 1a(1)(a) shall be replaced by the following: in the Greek language version of the Directive: in the English language version of the Directive: 'Ôï óõíïëéêü åôÞóéï ðñáãìáôéêü ðïóïóôü åðéâÜñõíóçò ðïõ åîéóþíåé óå åôÞóéá âÜóç ôéò ðáñïýóåò áîßåò ôïõ óõíüëïõ ôùí ôñå÷ïõóþí Þ ìåëëïíôéêþí õðï÷ñåþóåùí (äáíåßùí, åîïöëÞóåùí êáé åðéâáñýíóåùí) ðïõ Ý÷ïõí áíáëçöèåß áðü ôï äáíåéóôÞ êáé ôï (äáíåéæüìåíï) êáôáíáëùôÞ, õðïëïãßæåôáé óýìöùíá ìå ôï ìáèçìáôéêü ôýðï ðïõ ðáñáôßèåôáé óôï ðáñÜñôçìá ÉÉ.`, 'The annual percentage rate of charge which shall be that rate, on an annual basis which equalizes the present value of all commitments (loans, repayments and charges), future or existing, agreed by the creditor and the borrower, shall be calculated in accordance with the mathematical formula set out in Annex II.`; Article 1a(3) shall be deleted; Article 1a(5) shall be deleted; Article 3 shall be replaced by the following: 'Without prejudice to Council Directive 84/450/EEC of 10 September 1984 relating to the approximation of the laws, regulations and administrative provisions of the Member States concerning misleading advertising (*), and to the rules and principles applicable to unfair advertising, any advertisement, or any offer which is displayed at business premises, in which a person offers credit or offers to arrange a credit agreement and in which a rate of interest or any figures relating to the cost of the credit are indicated, shall also include a statement of the annual percentage rate of charge, by means of a representative example if no other means is practicable. Annex II shall be replaced by the text of Annex I attached hereto; Annex III shall be replaced by the text of Annex II attached hereto.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-22 · Text as adopted (Official Journal); later amendments are not incorporated in this text.