U.S. Commerce Department unveils first-of-its kind diagnostic supply chain risk assessment tool as Secretary Raimondo and Deputy Secretary Graves highlight how the Commerce Department is working to make America’s supply chains more resilient.
The Guidelines require basic information about credit servicers, such as their name and address and home Member State, as well as other useful information, such as whether the credit servicer is currently authorised to conduct services or to receive and hold funds from borrowers.
The European Investment Bank (EIB) has signed a loan agreement worth up to €100 million with Germany-based Sunfire, to advance its development of solid oxide electrolysers for renewable hydrogen production in industrial settings. This agreement is backed by the InvestEU programme. The agreement will support Sunfire to develop electrolysers to produce renewable hydrogen more energy- and cost-effectively for industrial processes. This will support Europe’s decarbonisation, especially in high energy-consuming sectors
Nimble policy has helped mitigate the effects of major adverse shocks in recent years (the pandemic, the energy price shock, and the rise in interest rates to contain subsequent inflation), but they have inevitably weighed on growth. Looking forward, growth is expected to gradually strengthen during 2024-25 while inflation declines to near its target. This baseline forecast is, however, subject to important risks.
We note that the budget was passed into law on 21 December 2023, shortly after the submission of the updated DBP and ahead of the publication of the Commission Opinion. In this respect we recall that the Two Pack Code of Conduct requires Member States to submit their DBPs well in advance of the envisaged budget approval by the national Parliament, allowing the Commission to issue an opinion and the
Judicial and law enforcement authorities in Italy, Latvia and Lithuania have taken concerted action against a large-scale money laundering business, centring around a Lithuanian financial institution. Since 2017, an estimated EUR 2 billion has been laundered by two main suspects via a worldwide web of shell companies. The suspects, who now have been detained, offered money laundering online as a service to criminals.
“All of you know how important central clearing is. Clearing reduces the systemic risk posed by over-the-counter derivatives. It’s true to say that a systemic problem in clearing is a big problem and would impact all parts of the financial system. So EU regulators and supervisors put in huge efforts to make sure that EU central counterparties are financially sound and well supervised” – EU Commissioner McGuinness.
The package includes a regulation amending the multiannual financial framework for 2021-2027, as well as regulations establishing the Ukraine Facility and the Strategic Technologies for Europe Platform (STEP).
Crypto assets have implications for macroeconomic and financial stability that are mutually interactive and reinforcing. Therefore, a comprehensive policy and regulatory response is necessary to address the risks of crypto assets. The International Monetary Fund (IMF) sees a key part of its mandate in the safety and soundness of the international monetary system, as well as global macroeconomic and financial stability.
The EU Member States adopted changes amending the alternative investment fund managers directive, which governs managers of hedge funds, private equity funds, private debt funds, real estate funds and other alternative investment funds in the EU.
The European Parliament has praised the President of the European Central Bank (ECB), Christine Lagarde, for her fight against inflation, but warned her not to give in to demands from the financial sector and politicians to cut key interest rates.
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