August 1997 Issue 5

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Title and Contents Pages (47k)

Chapter 1 (65k)
Introduction
Chart A: Planned timetable for the introduction of the euro

Chapter 2 (73k)
Wholesale Payments Arrangements
Development of CHAPS for euro
Box: Technical specification of CHAPS euro
TARGET
Chart B: Alternative cross-border payment arrangements
Chart C: An indicative critical path for TARGET
EBA Clearing

Chapter 3 (76k)
Securities Settlement Systems
Securities settlement systems in the UK
The ICSDs
Cross-border use of collateral
Future cross-border settlement links
S.W.I.F.T. message standards

Securities Settlement: Technical Issues Arising from the Introduction of the Euro

Chapter 4 (145k)
Financial Markets and Exchanges
Money and bond markets
Box: Recommended market conventions for the euro
Box: LIFFE and LCH
Equity markets
Box: Screen pages
Box and Chart D: ‘Mapping’ of the London money and foreign exchange markets if the UK is ‘out’

Chapter 5 (24k)
Business Preparations
The Chancellor's business initiatives
Box: HMTreasury’s booklet: EMU - Practical Information for Business
CBI and British Chambers of Commerce
Other business preparations

Chapter 6 (45k)
Retail Preparations
Retail payments
Box: Retail payments system development
Other retail preparations

Chapter 7 (118k)
Case Studies on Planning for the Introduction of the Euro
A: Bank of England
Chart E: Main Bank EMU preparatory tasks and their interconnections
B: A contribution from Barclays Bank
C: A contribution from HSBC
D: A contribution from Marks & Spencer

Chapter 8 (10k)
Public Sector Preparations
A contribution from HM Treasury
A contribution from the SIB

Chapter 9 (62k)
Overarching Issues
The Law
Chart F: The building blocks of the Regulations on the euro
Box: ISDA EMU continuity provision
Accounting
Taxation
Information technology

Chapter 10 (99k)
Monetary and Fiscal Policy
Monetary Policy in Stage 3
The ECB's foreign exchange and reserves management
Exchange rate policy
Fiscal policy
Statistical preparations
Design of euro banknotes and coin
Designs to be used in the preparation of euro banknotes

Appendices (33k)
Practical Issues Addressed in Previous Editions
Organisations Involved
Abbreviations and Acronyms