The Council recommended some legislative changes, for enactment in both Australia and New  10  BIS Review 22/2006  Zealand. Dr Cullen and the Australian Treasurer announced following their annual meeting that both Governments will be promoting those legislative amendments. Currently we are also involved in the Government contingency planning for a possible influenza pandemic.
Let me devote a few words to each of them. First, in the area of early intervention the enhancement of cooperation among supervisory authorities is important, when they address an ailing cross-border financial institution. It can be improved by achieving convergence as regards a minimum set of tools available to the supervisory authorities involved.