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No 9 (October 97/Octobre 97/Oktober 97)
The Commission has recently set up a new expert consultative group on
banking and conversion charges in relation to the changeover to the euro. The
Banking and Conversion Charges Group is one of five expert consultative groups
on practical aspects of the changeover to the euro which Commission services
decided to set up following the euro Round Table in Brussels in May. The terms
of reference of the Group are to examine the approach which banks and other
financial institutions propose to take to charging for conversion, to consider
the need for legislation or voluntary codes of practice and to analyse how the
transparency of any conversion charges is to be achieved.
The Group met for the first time on 10 September and will meet fortnightly until 20 November, by which time a report from the Group will be finalised. The aim then is to report to the Commission's Inter-Service Group. The Commission would then present proposals to a further Round Table in March of next year, with decisions to be taken in May when the participating Member States are decided.
Secretary of the Group
TEL: (+32 2) 296 60 62
FAX: (+32 2) 295 07 50