Article 1
1.
For the purpose of fixing the adjustment rate provided for in Articles 25 and 26 of Regulation (EU) No 1306/2013, and in accordance with Article 8(1) of Regulation (EU) No 1307/2013, the amounts of direct payments under the support schemes listed in Annex I to Regulation (EU) No 1307/2013 to be granted to farmers in excess of EUR 2 000 for an aid application submitted in respect of the calendar year 2020 shall be reduced by an adjustment rate of 2,906192 %.
2.
The reduction provided for in paragraph 1 shall not apply in Croatia.
Article 2
Implementing Regulation (EU) 2020/862 is repealed.
Article 3
This Regulation shall enter into force on the seventh day following that of its publication in the Official Journal of the European Union.
It shall apply from 1 December 2020.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 30 November 2020.
For the Commission
The President
Ursula von der Leyen