Practical Issues Arising From The Euro

March 1998 Issue 7

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Title and Contents Pages (49k)

Chapter 1 (48k)
Introduction
Chart A: Planned timetable for the introduction of the euro in first wave
Box: London as a global financial centre

Chapter 2 (194k)
Arrangements for Wholesale Euro Payments and Securities Settlement
A: Wholesale euro payments
Box: CHAPS euro - a brochure produced by the CHAPS Company
B: Securities settlement in the UK
Chart B: Securities Settlement in CGO
Chart C: Securities Settlement in CMO

Chapter 3 (187k)
The Conversion Weekend
A: Common issues
B: Money and foreign exchange markets
C: Update on bond markets
Table 1: Redenomination plans of EU Member States wishing to join EMU on January 1 1999
Table 2: Conventioning intentions of EU Member States wishing to join EMU on January 1 1999
D: Update on repos
E: Equity markets
F: Derivatives markets
G: Other issues (See paper on the 'Conversion Weekend' by Paribas)
Box: Payment andsecurities settlement systems and exchanges on 31 December 1998

Chapter 4 (107k)
Financial Markets and Exchanges
A: Financial markets
Box: Accrued interest on bonds: the effect of changes to the day-count convention
B: Exchanges
Box: The impact of EMU on credit ratings

Chapter 5 (103k)
Fund Management and Insurance
A: Fund management
Box: Preparations for EMU: a contribution from Schroders
B: Insurance

Chapter 6 (30k)
Business, Retail and Public Sector Preparations
A: Business preparations
Box: Siemens' approach to the introduction of the euro
B: Retail preparations
C: Public sector preparations

Chapter 7 (68k)
Overarching Issues
A: The Law (Lovell, White and Durrant Checklist)
B: Accounting
C: Tax
Box: Some tax issues arising as a result of EMU
D: Regulation
E: Conversion, rounding and "triangulation"

Chapter 8 (50k)
Preparations for Joining the Single Currency
A: The timetable
B: Lead times
C: Euro banknotes and coin
D: Reatils issues

Chapter 9 (18k)
Fiscal and Monetary Policy
A: Economic co-ordination
B: Preparations for the ECB's foreign exchange and reserves management operations
C: Monetary Policy in Stage 3

Summary of the Bank's Second Euro Symposium (76k)

Appendices (754k)
Practical Issues Addressed in Previous Editions
Organisations Involved
Abbreviations and Acronyms