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

September 2006

Economic situation & statistics

Differences in MFI interest rates across euro area countries

On 31 August 2006 the Governing Council approved the “Report on differences in MFI interest rates across euro area countries”, which will be published together with a press release on the ECB’s website on 20 September 2006.

Operational issues

Review of the ECB “General Documentation”

On 31 August 2006 the Governing Council approved a revised version of the document entitled “The implementation of monetary policy in the euro area: General documentation on Eurosystem monetary policy instruments and procedures” (referred to as the “General Documentation”) and adopted Guideline ECB/2006/12 amending Guideline ECB/2000/7. Guideline ECB/2006/12 will replace the current version of the General Documentation when it enters into force on 1 January 2007. The General Documentation will be published later this year in the Official Journal of the EU and on the ECB’s website.

STEP as a non-regulated market acceptable for collateral management purposes

On 14 September 2006 the Governing Council decided that the Short-Term European Paper (STEP) market will be accepted as a non-regulated market for collateral purposes in Eurosystem credit operations as soon as the STEP statistics on yields are published on the ECB’s website. A related press release has been published on the ECB’s website today.

Advice on legislation

ECB Opinion on consumer protection tasks in the Czech Republic

On 13 September 2006, at the request of the Czech Ministry of Industry and Trade, the Governing Council adopted an Opinion on certain Česká národní banka tasks in the area of consumer protection (CON/2006/47). The Opinion is available on the ECB’s website.

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