Practical Issues Arising From The Euro

December 1997 Issue 6

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Title and Contents Pages (48k)

Chapter 1 (72k)
Introduction
Chart A: Planned timetable for the introduction of the euro
Box: London as an international financial centre

Chapter 2 (124k)
Arrangements for Wholesale Euro Payments and Securities Settlement
A: CHAPS euro
Box: A summary of the Bank's view's on intraday credit in TARGET
B: TARGET
C: EBA
Box: Correspondent banking
D: Securities settlement in the UK
E: Settlement of NCB operations in EMU: EMI preparations
F: The ECSDA initiative
G: S.W.I.F.T. message standards

Chapter 3 (96k)
Financial Markets and Exchanges
A: Financial markets
Box: Options for processing repos over the conversion date
Table: Redenomination plans of EU Member States wishing to join EMU on 1 January 1999
B: Exchanges

Chapter 4 (129k)
The Conversion Weekend
Chart B: Some of the processes involved in the conversion weekend

Chapter 5 (143k)
Financial Institutions' Preparations
An overview
A: A contribution from ABN AMRO Bank NV
B: A contribution from Deutsche Morgan Grenfell
C: A contribution from Lloyds TSB Group
D: A contribution from Morgan Stanley
E: A contribution from NatWest Group

Chapter 6 (78k)
Business, Retail and Public Sector Preparations
A: Business preparations
Chart C: The new committee structure to advise Government on business preparations
Box: The euro as a parallel currency
B: Retail preparations
Box: Banking charges for conversion to the euro
C: Public sector preparations

Chapter 7 (121k)
Overarching Issues
A: The Law
B: Accounting
C: Tax
D: Regulation
Box: Implications for the capital adequacy framework
E: Conversion and rounding
F: Information systems
Chart D: A schema for business preparations for the euro

Chapter 8 (30k)
Monetary and Fiscal Policy
A: Monetary Policy in Stage 3
B: Economic co-ordination
C: Exchange rate policy and reserves management
Box: Irrevocable fixing of exchange rates
D: Statistical issues

Appendices (37k)
Practical Issues Addressed in Previous Editions
Organisations Involved
Abbreviations and Acronyms