In the context of the Plan of Action for Harmonization of Business Practices the Finance and Budget Network’s Working Group on Common Treasury Services had launched its activities. The Working Group set up a web-based knowledge-sharing tool allowing inter-agency discussions on technical treasury-related subjects in its online forum. Preliminary steps have been taken to start the next phase of the group’s activities — a feasibility study to evaluate the potential harmonization opportunities in the treasury area. This phase was initiated following the decision taken in February 2010 by the Business Practices Steering Committee to approve funding allocation to two priority financial management initiatives: the feasibility study for putting in place Common Treasury Services and the United Nations system-wide financial statistics database and reporting system. Implementation of the second initiative commenced in the second quarter of 2010 by the CEB secretariat.