The combating of financing of terrorism, which is an unlawful act, is in most jurisdictions provided for in separate legislations but linked to the mainstream national anti money laundering laws, especially in respect of detection. The anti money laundering legislations that are being promulgated by most jurisdictions have and are criminalizing the act of money laundering as defined above.
In keeping with these anticipations, we also re-confirmed our forward guidance in its original formulation. Over the past two years our interest rate cuts were transmitted only unevenly across euro area countries, due to the fragmentation of financial markets along national borders. To address this problem, we adopted a series of non-standard measures.