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Discusses the report `The Review of Regulatory Capital Requirements for EU Credit Institutions and Investment Firms.' Issues on the standardized credit risk weighting scheme proposed by the Basel Committee on Banking Supervision; Details on the supervisory review process; Overview of market disclosure.

Presents information on the Financial Services Action Plan of the European Commission's financial regulation, approved on May 25, 1999. Background of the Plan; Measures to adapt the regulatory framework for wholesale and retail markets and sound supervisory structures.

Examines the initial period in the implementation of the Eurosystem in Europe. Transition to the single currency; Changes in capital markets; Efforts toward an integrated interbank market; Differences in the European Union.

Reports on a set a work schedule to adapt European Union financial markets to euroland. Information on the report `Financial Services: Building a Framework for action'; Proposals on the improvements of the regulatory framework; Objectives of the proposal.

Discusses the regulatory framework for the European Union's implementation of the Stability and Growth Pact which seeks to ease monetary union. Multilateral surveillance of budgetary positions and coordination of economic policies; Detailing of the excessive deficit procedure and the sanctions applicable in case of non-compliance; Principles of the new Exchange Rate Mechanism.

Reports that the European Union's (EU) Brouwer Committee has examined whether the EU financial regulatory and supervisory structures can safeguard financial stability. Overview of the Brouwer Committee; Recommendations of the committee; Issue over the supervision of financial conglomerates in Europe.

Offers a look at the European version of the United States (US) Securities and Exchange Commission (SEC). Creation of the European SEC; Obstacles faced in the development of the SEC; Comparison between the European and the US SEC.

Comments on the streamlining of the financial supervision in the European Union (EU). Information on financial supervision in EU; Signs that show emerging euro-market; Suggested solution to troubled banks.

Highlights the third and last meeting of the European Union's Financial Services Policy Group. Discussion of the completion of the regulatory framework for European Union securities markets; Supervision of markets and institutions in euroland; Accounting standards; Bank capital standards.

Focuses on European Central Bank (ECB) director Tommaso Padoa-Schioppa's overview of banking supervision in the European Monetary Union. Increased integration of financial markets and institutions; Role of ECB in the area of banking supervision.

Focuses on the report made by the European Central Bank on the effects of the European Monetary Union on the banking system. Views on bank fragility; Limitations of the report.

Reports on the dilemma being faced by the European Central Bank in prudential stability keeping. Questions on the appropriateness of distributed responsibility; Provisions on prudential control involvement. INSET: EU Treaty provisions on the ECB and prudential supervision.

States that the European Commission will issue its formal proposals introducing a legislation for investment firms and amendments to the 1985 Undertakings for Collective Investment in Transferable Securities (UCITS) directive. Features of the 1985 UCITS; Details on the proposals.

Reports on the European Commission's proposed replacement with one banking directive the 19 directives which establish the single market for banking services. Description of the directives covered by the consolidation; Other banking directives that remain outside of the consolidated text.

Reports that the European Commission's DG IV has started an inquiry with the Member States on the position of publicly-owned banks. State aid investigation against WestLB; Inquiry into the special regimes enjoyed by publicly owned banks in other Member States.

Reports on the European Commission's adoption of a communication interpreting and clarifying terms on which credit institutions may provide services in the single market in the light of the case law of the Court of Justice. Barriers to cross-border activities; Development of a doctrine for interpreting secondary banking directive.

Reports on European Commission's proposed series of measures to enhance consumer confidence in the single financial market. Regulation of telesales contracts for financial services, unregulated financial intermediaries, insurance agents and motor insurance abroad; Recommended action on six specific areas.

Reports on the European Commission's adoption of a Green Paper on Supplementary Pensions in the Single Market concerning restrictions on cross-border investments of pension funds. Exploration of how the single market can enable pension funds to operate more efficiently; Allowance of pension funds to be invested in whatever assets pension fund managers see fit.

Focuses on the review of the regulation for the financial industry in Europe by the Ecofin Council chaired by Alexandre Lamfalussy. Mandate of the council; Need of some countries in Europe for better implementation of business rules; Expectations from the council.

Reports that a proposal for a European Union Committee of Securities Supervisors is deadlocked between the European Parliament and the Council. Adoption of the Capital Adequacy and Investment Services Directives; Creation of the Forum of European for Securities Commissions.

Presents some of the main recommnedations of the Giovannini Group which was set up by the European Commission to examine the technical issues related to the changeover of capital markets to the euro. Call for EMU member states to re-dominate their tradable debt to euro; Bottom-up approach for bond markets.

Announces the European Commission's agreement on the terms of a recommendation addressed to member states and issuers of electronic payment instruments. Transactions and instruments covered by the recommendation.

Reports that the German government has secured special protection for its publicly-owned Landesbank Berlin in a special declaration to the Final Act of the amended Amsterdam Treaty. Allowance of German savings banks to obtain cheap credits from the state to provide housing loans.

Reports that the European Union Council reached a political agreement on a draft directive covering settlement finality in payment and securities transactions on June 9, 1997. Reduction of legal risks associated with participation in payment systems.

Reports on the European Council's approval of the European Commission's single market action plan as a basis for renewed political effort by member-states to remove the remaining obstacles to a well-functioning single market. Phaseout of restrictions on investment by pension funds; Proposed creation of a new directive on collective investment schemes.