Yugoslavia's six republics and two provinces each have representatives on the federal collective presidency who take turns acting as president.
During a crisis in March, the federal presidency resisted the army's demand that a state of emergency be declared.
The action was taken by the federal presidency, and approval by Parliament is expected to be little more than a formality.
The eight-person federal presidency of Yugoslavia is in effect the country's collective head of state.
The council, called the federal presidency, declared instead that Yugoslavia's political problems should be solved by political means.
Neither the Defense Ministry nor the federal presidency have made any statement about the decision.
The eight members of Yugoslavia's federal presidency were meeting late tonight with presidents of the country's six republics.
The truce, begun on Wednesday and apparently holding, was organized by the federal presidency.
The federal presidency is rotated between the islands' presidents.
The federal presidency is to take it in turns between the three islands.