15 Jul
Chapter News, News

ECB | How Banks Have Adjusted Their Lending in Response to Trade Tensions

Blog post | Changes in global trade policies and heightened trade tensions pose a challenge for euro area firms, particularly those operating internationally. For banks, these developments increase credit risk: the firms affected can face volatile demand, supply disruptions and squeezed margins, and may find it harder to service their debts. This post looks at how euro area banks have responded to rising trade tensions since 2025, drawing on granular analyses of loan portfolios from AnaCredit and survey data from the euro...

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15 Jul
Member News, News

Wilson Sonsini | EU Commission Publishes AI Transparency Code of Practice

On June 10, 2026, the European Commission published a Code of Practice on marking and labeling of AI-generated content (the Code) following a public consultation that took place last year. The Code is divided into two sections: Section 1 sets out provenance requirements applicable to providers offering generative AI systems. Section 2 sets out transparency rules for AI-generated content applicable to deployers of AI tools, such as requirements to visibly label deepfakes and AI-generated text on matters of public interest. Background The European Union’s...

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14 Jul
Member News, News

PwC | European Commission Publishes Tax Omnibus Proposal – Key Potential Impacts for the Financial Sector

What happened?  The European Commission has published a Tax Omnibus proposal that would amend six EU direct tax directives: the Interest and Royalties Directive (2003/49/EC), the Merger Directive (2009/133/EC), the Parent-Subsidiary Directive (2011/96/EU), the Anti-Tax Avoidance Directive (ATAD) (2016/1164), the Dispute Resolution Mechanisms Directive (2017/1852), and the FASTER Directive (2025/50). The package is intended to simplify the EU direct tax framework, reduce compliance burdens, improve legal certainty, and support EU competitiveness. For more details about the Tax Omnibus, please read our...

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14 Jul
Member News, New York Related News, News

Littler | New York City Releases Final Rule Interpreting Amendments to the NYC Earned Safe and Sick Time Act

On June 23, 2026, the New York City Department of Consumer and Worker Protection (DCWP) quietly adopted its final rule regulating the amended NYC Earned Safe and Sick Time Act, or “ESSTA” (also called in NYC written guidance the “New York City Protected Time Off Law”). The final rule largely leaves intact the regulatory scheme set forth in the proposed rule issued on January 22, 2026, but clarifies certain issues raised by commenters and adds additional requirements. The final rule takes...

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14 Jul
Chapter News, News

IMF | Financial Market Reforms Could Lift Europe’s Growth

IMF Blog post | Integrating and deepening banking and venture capital markets would boost output by at least 3 percent, and make business dynamism reforms more powerful French startup Mistral AI’s recent financing round was led by ASML, a Dutch maker of semiconductor manufacturing equipment. Such cross-border investments—even when small relative to US deals—are not the norm in Europe. Far more often, good projects fail to scale. Among the reasons: Europe’s considerable savings are compartmentalized within national borders, and hard...

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14 Jul
Chapter News, News

European Commission | Review Finds Foreign Subsidies Regulation Fit for Purpose, Commission Considers Targeted Changes

The European Commission's first review of the Foreign Subsidies Regulation (FSR) has found that the regulation is fit for purpose to address distortions in the internal market caused by foreign subsidies. Its objective of maintaining a level playing field in the internal market is widely acknowledged and remains relevant. The review of the first three years of FSR enforcement shows the instrument is working well in practice. The procedures for reviewing concentrations and foreign financial contributions in public procurement procedures...

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14 Jul
Chapter News, News

IMF | Trade Cooperation in an Age of Geopolitics

IMF F&D MAGAZINE article | Geopolitical rivalry does not end the need for trade cooperation, but the multilateral system must adapt For decades, the global economy rested on the premise that international trade was beneficial despite geopolitical differences. The rules of the multilateral trading system, established with the General Agreement on Tariffs and Trade (GATT) in 1947 and embedded in the World Trade Organization (WTO) in 1995, were crafted for a world where governments rarely used trade to achieve geopolitical...

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14 Jul
Member News, News

ING | Easing US Price Pressure Dampen Imminent Fed Hike Talk

US June consumer price inflation data undershot expectations with the breadth of the softening the particularly encouraging aspect. Fed rate hike pricing has receded, but we still think it is too high. We forecast a prolonged pause from the Federal Reserve US inflation lower than anyone expected Today's consumer price inflation report for June was considerably softer than expected. US headline prices fell -0.4% month-on-month versus consensus expectations of a -0.1% outcome, while core inflation (ex-food and energy) was flat on...

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02 Jul
News, TRIA News

EIB President Calviño in Morocco: With New Investment for Resilient Transport Networks, Boosting Connectivity and Economic Opportunities

EIB President Nadia Calviño is visiting Morocco to reaffirm the Bank’s long-standing partnership with the Kingdom and stepped-up support for shared priorities in sustainable infrastructure, climate action and resilience, at a time of renewed momentum in EU–Morocco relations. As the financing arm of the European Union, the EIB announced €365 million in investments in Morocco’s transport sector. These operations will strengthen the resilience and security of Morocco’s motorway network and national railway system. The railway operation also benefits from a...

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02 Jul
News, TRIA News

DFC | URIF Holds Fourth Board Meeting at Ukraine Recovery Conference

WASHINGTON, D.C. – The U.S.–Ukraine Reconstruction Investment Fund (URIF) held its fourth board meeting on Wednesday, June 24, on the sidelines of the Ukraine Recovery Conference in Gdańsk, Poland. At the meeting, URIF’s Board of Directors discussed the landmark cooperation agreement between the U.S. International Development Finance Corporation (DFC) and the Multilateral Investment Guarantee Agency (MIGA) – the home of the World Bank Group Guarantee Platform – that will support Political Risk Insurance (PRI) for URIF investments. The cooperation...

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