On 10 February 2009, the Economic and Financial Affairs Council (ECOFIN) held its 2922nd meeting at which it discussed and outlined its contribution to the next meeting of the Council of the European Union, to be held on 19 and 20 March 2009. Amongst other things, ECOFIN considered initiatives relating to the implementation of financial rescue packages and the treatment of impaired assets.  

Ministers agreed that the priority is to fully restore the functioning of credit channels and that to this extent the strategy agreed in October 2008 remains valid. Ministers also agreed that, to safeguard banking sector stability, measures to deal with impaired assets could in specific cases usefully complement agreed instruments.  

View 2922nd Economic and Financial Affairs Council meeting, 10 February 2009