The European Central Bank this week forced member states to delay a decision on new rules…

Date: 11/11/1999

...to govern institutions issuing electronic money. The item was taken off the agenda for this week's meeting of EU finance ministers after ECB board member Otmar Issing urged more discussions on the issue. Issing said the ECB was concerned about plans to exempt issuers of electronic money from some banking supervision rules if they did not offer other banking services. He warned that this could eventually weaken euro-zone monetary policy as electronic cash grew in popularity.