Memo: Financial Services Policy Group discusses the impact of the events in USA on the financial sector

The 12th meeting of the Financial Services Policy Group, comprising personal representatives of EU Finance Ministers, took place on 20 September 2001 in Brussels under the chairmanship of Internal Market Commissioner Frits Bolkestein. The Group concentrated on 5 points: (i) the impact of the events in the US on the financial sector, (ii) the forthcoming proposal for a Takeover Bids Directive (iii) clearing and settlement, (iv) a mid-term progress report by the Belgian Council Presidency and (v) enlargement. The Group also exchanged views on the proposal for a regulation on cross-border payments.