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

October 2006

Operational issues

Assessment of securities settlement systems against user standards for Eurosystem credit operations

On 19 October 2006 the Governing Council updated the assessment of securities settlement systems eligible for the settlement of Eurosystem credit operations against the standards published in 1998. A press release has been published on the ECB’s website today

Assessment of the Slovenian securities settlement system

In the context of Slovenia’s entry to Economic and Monetary Union on 1 January 2007, the Governing Council, on 19 October 2006, assessed the eligibility of the Slovenian securities settlement system for its use in Eurosystem credit operations. A press release has been published on the ECB’s website today.

Payment Systems and market infrastructure

TARGET2 securities – publication of replies to questionnaire on initial assumptions and questions

On 28 September 2006 the Governing Council decided to publish the replies received from financial market participants in response to the questionnaire “TARGET2 Securities: Initial Assumptions and Questions” – to the extent authorised by the respondents – on the ECB’s website. A press release on the follow-up work has been published on the ECB’s website today.

Financial Stability and Supervision

EU banking structures

On 19 October 2006 the Governing Council authorised the publication of the annual report on “EU banking structures”, which focuses on the structural developments in 2005 and in the first half of 2006 that could potentially affect banking stability. The report will be published together with a press release on the ECB’s website on 25 October 2006.

Eurosystem stress testing exercise

On 19 October 2006 the Governing Council discussed the findings of a simulation exercise, conducted at the level of the Eurosystem in May 2006, to test Eurosystem procedures for financial crisis management.

Supervisory structures in EU and acceding countries

On 19 October 2006 the Governing Council authorised the publication of the note entitled “Recent developments in supervisory structures in EU and acceding countries”, covering the 25 EU Member States and the two acceding countries Bulgaria and Romania. The note will be published on the ECB’s website on 23 October 2006.

Advice on legislation

ECB Opinion on Slovenian banking law

On 19 September 2006, at the request of the Slovenian Ministry of Finance, the Governing Council adopted an Opinion on a general revision of the banking law (CON/2006/48). The Opinion is available on the ECB’s website.

Statistics

Harmonised competitiveness indicators for euro area countries

On 2 October 2006 the Governing Council approved the regular monthly publication of the harmonised competitiveness indicators for the euro area countries as a specific domain of the Eurosystem joint dissemination framework. The first publication of these indicators on the ECB’s website is scheduled for December 2006.

Banknotes

ECB Recommendation on anti-counterfeiting measures

On 6 October 2006 the Governing Council adopted a Recommendation on the adoption of certain measures to protect euro banknotes more effectively against counterfeiting (ECB/2006/13). The Recommendation will be published shortly in the Official Journal of the EU and on the ECB’s website.

Corporate governance

ECB Recommendation on the external auditors of Banka Slovenije

On 9 October 2006 the Governing Council adopted a Recommendation to the EU Council on the external auditors of Banka Slovenije (ECB/2006/14). The Recommendation will be published shortly in the Official Journal of the EU and on the ECB’s website.

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