No L 61/14: Official Journal of the European Communities 10. 3. 90 (Acts whose publication is not obligatory) COUNCIL COUNCIL DIRECTIVE of 22 February 1990 amending Directive 87/102/EEC for the approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit (90/88/EEC) THE COUNCIL OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, and in particular Article 100a thereof, Having regard to the proposal from the Commissien (%), In cooperation with the European Parliament (3, Having regard to the opinion of the Economic and Social Committee (%), Whereas Article 5 of Council Directive 87/102/EEC () provides for the introduction of a Community method or methods of calculating the annual percentage -rate: of . Icharge for consumer-credit; Whereas it is desirable, in order to promote the establish- ment and functioning the internal market and to ensure that consumers benefit from a high level of protection, that-one method of calculating the said annual percentage rate of charge should be used throughout the Commu-. nity ; Whereas it is desirable, with a view to introducing such a method and in accordance with the definition of the-total cost of credit to the consumer, to draw up a single- mathe- matical formula for calculating the annual percentage rate of charge and for determining credit cost items to be used in the calculation -by indicating those costs which must not be-taken into acount; () OJ-No C 155, 14. 6. 1988, p. 10. ()-0J No C 96, 17 4. 1989, p. 87 and _ OJ No C 291, 20. 11. 1989, p. 0. () OJ No C 337, 31. 12. 1988, p. 1. () OJ No L 42, 12. 2. 1987, p. 48. Whereas, during a trasitional period, Member States which prior to the date of notification of this Directive, apply laws which permit the use of another mathematical formula for calculating the annual percentage rate of charge may continue to apply such laws; Whereas, before expiry of the transitional period and in the light of experience, the Council will, on the basis of a proposal from the Commission, take a decision which will make it possible to apply a single Community mathematical formula; Whereas it is desirable, whenever necessary, to adopt certain -hypotheses for calculating the annual percentage rate of . charge ; Whereas by virtue of the special nature of loans guaran- teed by a mortgage secured on immoveable property it is- desirable that such credit should continue to be partially excluded from this Directive ; . Whereas the information which must be communicated to the consumer in the written contract should be ampli- fied, HAS ADOPTED THIS DIRECTIVE: Article 1 Directive 87/102/EEC is hereby amended as.follows : 1. In Article 1-{2), points {(d) and (e) shall be replaced by the following : ‘(d) “total cost of the credit to.the consumer” means all the costs, including interest and other charges, which the consumer has to pay for the credit.;