However, once the euro was successfully introduced, attention shifted to improving the functioning of the single European financial market. The late 1990s saw the launching of an ambitious plan - the Financial Services Action Plan - , which contained a series of legislative and other measures that would allow the European financial services sector to gradually realise its full potential.
I understand that systems integration of ABROI member banks with the Bangko Sentral’s PhilPass will be completed before the end of this year, with test runs expected to begin in January 2010. Given this timeline, the PhilPass-ABROI linkage should be fully operational by late February or early March next year.