
Article 1 
For the purposes of this Regulation:

 ‘Government’ means the sector of general government as defined in the European system of national and regional accounts in the Community (hereinafter referred to as ESA 95), adopted by Regulation (EC) No 2223/96. The codes in brackets refer to ESA 95.
 ‘Quarterly government debt’ means the total gross debt at nominal value outstanding at the end of each quarter of the sector of general government (S.13), with the exception of those liabilities the corresponding financial assets of which are held by the sector of general government (S.13).
The quarterly government debt is constituted by the liabilities of general government in the following categories: currency and deposits (AF.2); securities other than shares, excluding financial derivatives (AF.33) and loans (AF.4), as defined in ESA 95.
The nominal value of a liability outstanding at the end of each quarter is the face value.
The nominal value of an index-linked liability corresponds to its face value adjusted by the index-related change in the value of the principal accrued to the end of each quarter.
Liabilities denominated in a foreign currency, or exchanged from one foreign currency through contractual agreements to one or more other foreign currencies shall be converted into the other foreign currencies at the rate agreed on in those contracts and shall be converted into the national currency on the basis of the representative market exchange rate prevailing on the last working day of each quarter.
Liabilities denominated in the national currency and exchanged through contractual agreements to a foreign currency shall be converted into the foreign currency at the rate agreed on in those contracts and shall be converted into the national currency on the basis of the representative market exchange rate prevailing on the last working day of each quarter.
Liabilities denominated in a foreign currency and exchanged through contractual agreements to the national currency shall be converted into the national currency at the rate agreed on in those contracts.
Article 2 

1. Member States shall compile and transmit to the Commission data on the quarterly government debt at the latest three months after the end of the quarter to which the data refer.Any revision of data for previous quarters shall be transmitted at the same time.
2. The first transmission of the data on the quarterly government debt shall take place by 31 December 2004.For the Republic of Croatia, the first transmission of the data on the quarterly government debt shall relate to data starting with the first quarter of 2012 and shall take place by the end of the first quarter following the date of accession.
3. The Commission may grant a derogation, not exceeding one year, concerning the first transmission of quarterly data, insofar as national statistical systems require major change.
Article 3 
Back-data relating to the first quarter of 2000 onwards shall be transmitted by 31 December 2004. Where necessary, such data may be provided using a best-estimate approach.
The Republic of Croatia shall transmit back-data from the first quarter of 2002 until the fourth quarter of 2011 by the end of December 2015.
Article 4 

1. If the Council decides to amend Regulation (EC) No 3605/93, in accordance with the rules on competence and procedure laid down in the Treaty, the Council shall simultaneously amend Article 1 of this Regulation, so that the definitions contained therein are kept consistent.
2. If the Commission introduces new references to ESA 95 into Article 1(5) of Regulation (EC) No 3605/93, in accordance with Article 7 thereof, the Commission shall simultaneously introduce the same new references into Article 1 of this Regulation, so that the definitions contained therein are kept consistent.
Article 5 
This Regulation shall enter into force on the 20th day following that of its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.