At their meeting on 2 October, EU finance ministers listened to a proposal from the Commission that would strengthen the role of the European Banking Authority in supervising EU financial institutions, so as to better address money laundering and terrorist financing. Ministers stressed the importance of properly implementing EU rules on anti-money laundering, as well as enhancing cooperation between anti-money laundering and prudential supervisors in order to create an efficient monitoring framework. The Council also adopted a regulation tightening controls on cash entering or leaving the Union, thereby bringing EU legislation in line with the highest international standards on combating money laundering and terrorism financing. In the area of indirect taxation, the Council reached political agreement on three VAT-related proposals. The "e-publication" regulation will allow Member States to apply non-standard VAT rates to electronic publications and potentially align VAT rules between physical and electronic formats. To combat cross-border “carousel” fraud, certain Member States would be able to temporarily apply a generalised reversal of VAT liability. Lastly, the Council adopted measures to strengthen administrative cooperation in order to more effectively tackle the most widespread forms of cross-border fraud.