The Austrian and the forthcoming Finish Presidency submitted their operational programme of the Council for 2006. Both presidencies will continue with their efforts to find an agreement on the constitutional treaty, to carry out an overall assessment of these debates in the first half of 2006 and to agree on how to proceed.
With regards to the financial services area both Presidencies will focus on the new legal framework for payment systems in the internal market, implementing also the special recommendation VI of the FATF, and on improving market access of firms to clearing and settlement, as well as on crossborder mergers on the banking sector. In addition, attention will be paid to further improving supervision of cross-border institutions, improving stability and crisis management arrangements and in particular to the review of the Directive on deposit guarantee schemes.
Assessments will be made on the progress made in the convergence of supervisory practices. The effort to fight against the financing of terrorism and money laundering will continue. Key issues in this respect are the regulation implementing special recommendation VII of the FATF on wire-transfers.
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