In the Review, the Department of Commerce’s Supply Chain Center shared its first public findings from its new SCALE supply chain risk assessment tool. SCALE significantly upgrades the U.S. Government’s ability to conduct cross-cutting assessments of resilience and vulnerability, employing more than 40 indicators to assess current or prospective risk across the U.S. goods economy.
Growing demand for data makes it necessary to gather them in a consistent and standardised way across the financial sector. The EU Parliament’s Economic and Monetary Affairs Committee struck a deal with the EU Council on new rules to avoid double reporting and reduce the administrative burden for the EU financial sector.
Here are the headlines from last week’s Insight EU Finance Monitoring, published on Friday night. We provide the headlines with a delay of several days, but you can access our real-time monitoring services by subscribing to one of our annual plans in the Insight EU Store.
The EU Council adopted its position on key elements of a proposed directive to harmonise certain aspects of insolvency law. This partial general approach focuses on measures to preserve the insolvency estate, the duties of directors in the event of insolvency and transparency obligations.
The EU Commission has approved, under EU State aid rules, the prolongation of a Greek scheme (known as ‘Hercules’) aimed at facilitating the reduction of non-performing loans of Greek banks, on the basis that it remains free of any State aid.
Benchmarks are typically indexes or another basket of financial assets, they are widely used by companies and investors in the EU as a reference in their financial instruments or contracts.
The ECB decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the monetary policy stance – is based on its updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.
Funds raised by the EU Commission continue to drive the EU’s recovery from the coronavirus pandemic, strengthen the resilience of its economy, and support the EU’s neighbouring partners, notably Ukraine and the Western Balkans.These wide-ranging borrowing operations will strengthen the EU Bond market while guaranteeing continuous support to these policies.
The EU Ecofin Council today approved the EU Commission’s positive assessment of amended recovery and resilience plans submitted by Sweden, Slovenia, Denmark, and Belgium. According to the EU Commission, the targeted modifications by the member states do not affect the relevance, effectiveness, efficiency and coherence of their recovery and resilience plans.
Among other issues, EU Finance Ministers were informed of the customs reform progress. They also debated the revision of the energy taxation directive. The EU Commission presented draft Council recommendations on the economic governance review and the excessive deficit procedure. Ministers took note of the state of play of the impact of Russia’s aggression against Ukraine.
The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published joint Guidelines intended to facilitate consistency in the regulatory classification of crypto-assets under Markets in Crypto-Assets Regulation (MiCAR). Learn more about the test they propose.
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