the same time, the G20 Leaders' Statement in September 2009 was an important reminder of the need to fulfil our commitments. We welcomed that reminder and support for convergence. Following that reminder, on 5 November the two boards issued a joint statement reaffirming our commitment to convergence in financial reporting and the June 2011 date emphasised by the G20 Leaders. In our statement we laid out specific updated and enhanced plans to complete our convergence work. This work addresses major subjects, such as consolidations, securitisations, pensions, leases and revenue recognition. Mindful of our public accountability requirements, the IASB and the FASB will report quarterly on our public website. We are working closely with our respective Trustee oversight bodies to remove any impediments to success. They have set up liaison arrangements to support jointly our work. In our soon to be published report, the Boards will state that despite the challenging technical issues to resolve, we remain on schedule to achieve the June 2011 target. As an example of the recently intensified activity between the two Boards, we are now meeting together every month and have had more than 100 hours of joint meetings since the November statement. In March, the boards are meeting jointly for three consecutive afternoons by video, and then for three consecutive days in person in London the following week. These intensive discussions are achieving positive results. We plan to publish seven joint proposals in the next quarter. The Boards individually will also propose other changes to