Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

Operational issues

The Short-Term European Paper initiative

On 6 April 2006 the Governing Council approved the provision of technical assistance to the Short-Term European Paper (STEP) Secretariat in relation to the management of the STEP label (which is intended to promote convergence of standards in the fragmented European short-term securities market). The ECB will also compile and publish statistics on yields and volumes.

ECB Guideline on Eurosystem reserve management services

On 7 April 2006 the Governing Council adopted a Guideline on the Eurosystem’s provision of reserve management services in euro to central banks and countries located outside the euro area and to international organisations (ECB/2006/4). The Guideline was published in the Official Journal of the EU on 20 April 2006 and it will be shortly available on the ECB’s website.

Advice on legislation

ECB Opinion on Community statistical classification legislation

On 24 March 2006, at the request of the EU Council, the Governing Council adopted an Opinion on a major revision of the common statistical classification of economic activities within the Community (NACE) (CON/2006/18). The Opinion was published in the Official Journal of the EU on 1 April 2006 and is also available on the ECB’s website.

ECB Opinion on amendments to Latvijas Banka’s statutes

On 3 April 2006, at the request of Latvijas Banka, the Governing Council adopted an Opinion on amendments to Latvijas Banka’s statutes (CON/2006/19). The Opinion is available on the ECB’s website.

Statistics

ECB Guideline on the ECB’s statistical reporting requirements in the field of quarterly financial accounts

On 20 April 2006 the Governing Council adopted a small amendment to Guideline ECB/2002/7 on the statistical reporting requirements of the European Central Bank in the field of quarterly financial accounts (ECB/2006/6). This amending Guideline supplements Guideline ECB/2005/13 of 17 November 2005, which also amended Guideline ECB/2002/7. The Guideline will be published shortly in the Official Journal of the EU and on the ECB’s website.

Banknotes

Establishment of a pilot Extended Custodial Inventory programme for euro banknotes

On 6 April 2006 the Governing Council decided that a pilot Extended Custodial Inventory (ECI) programme, intended to facilitate the international distribution of euro banknotes and to improve their circulation outside the euro area, will be established in Asia for one year. The programme will be operational by the end of 2006.

Corporate Governance

ECB Recommendation on the external auditors of the Banque de France

On 13 April 2006 the Governing Council adopted a Recommendation to the EU Council on the external auditors of the Banque de France (ECB/2006/5). The Recommendation will be published shortly in the Official Journal of the EU and on the ECB’s website.

Advice on legislation

Media contacts