Chapter News

11 May
Chapter News

ECB | Private sector working group on euro risk-free rates publishes recommendations on EURIBOR fallbacks

Working group recommendations should help EURIBOR users comply with EU Benchmarks Regulation fallback obligations Key milestone reached with publication of recommendations as working group enters new phase and secretariat passes from ECB to ESMA The private sector working group on euro risk-free rates has today published its recommendations addressing events that would trigger fallbacks in EURIBOR-related contracts, as well as €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered). While there is currently no plan...

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11 May
Chapter News

ECB updates treatment of leverage ratio in the Eurosystem monetary policy counterparty framework

Amendments to give effect to the leverage ratio becoming a binding Pillar 1 own-funds requirement under the Capital Requirements Regulation (CRR) Change will apply as of 28 June 2021 On May 7, the European Central Bank (ECB) has today published amendments to its monetary policy implementation Guideline to give effect to the leverage ratio becoming a binding Pillar 1 own-funds requirement. The amended guideline implements a decision taken by the Governing Council on 6 May 2021. The decision is linked...

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10 May
Chapter News, Trade & TTIP Related

USTR Releases Agency Transparency Principles

7 May, 2021, WASHINGTON | Ambassador Katherine Tai today released a set of transparency principles that establish the foundation for a high transparency standard for the day-to-day operations of the Office of the United States Trade Representative (USTR).  These Transparency Principles reflect the Administration’s commitment to comprehensive public engagement, including outreach to historically overlooked and underrepresented communities, as it develops and implements a trade policy that advances the interests of all Americans.  USTR will continue to build on these Transparency...

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10 May
Chapter News

CoR/OECD | SDGs as a Framework for Covid-19 Recovery in Cities and Regions

The European Committee of the Regions (CoR) and the Organisation for Economic Co-operation and Development (OECD) invite representatives of local and regional authorities across Europe to participate in a survey on the Sustainable Development Goals. The consultation is open until Friday 11 June 2021. In 2019, the UN launched the Decade of Action for Sustainable Development to accelerate efforts, scale up projects and mobilize contributions across all levels of governments and society for the realization of the SDGs. Regional and local authorities...

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07 May
Chapter News

WE ARE HIRING A PROGRAM & COMMUNICATION OFFICER

WE ARE HIRING A PROGRAM & COMMUNICATION OFFICER Our colleague Femke Hartog is heading back to the Netherlands and we are looking for someone to step into her shoes. The position a great opportunity for someone with detailed and broad knowledge of the EU & US relationship, including related economic issues and the transatlantic business environment, to deploy that experience in an international affairs & trans-Atlantic business environment. The position has the potential to expand in scope and responsibilities as we...

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07 May
Chapter News

IMF | Economies in the Financial Spotlight in 2021

Throughout 2020 and into 2021, the global financial system withstood the effects of the global pandemic and economic lockdowns due to unprecedented policy support. Strong financial systems that are well regulated and well supervised help maintain financial stability. But like a well calibrated engine on a car, maintenance is key. Each year the IMF takes a look under the hood of select economies, which helps to unmask vulnerabilities that could present bigger problems down the road. The Financial Sector Assessment Program, or “FSAP” as...

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06 May
Chapter News

EU Commission proposes new Regulation to address distortions caused by foreign subsidies in the Single Market

The European Commission proposes today a new instrument to address potential distortive effects of foreign subsidies in the Single Market. Today's legislative proposal follows the adoption of the White Paper in June 2020 and an extensive consultation process with stakeholders. It aims at closing the regulatory gap in the Single Market, whereby subsidies granted by non-EU governments currently go largely unchecked, while subsidies granted by Member States are subject to close scrutiny. The new tool is designed to effectively tackle foreign subsidies...

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06 May
Chapter News, COVID-19 News

Coronavirus: EU Commission proposes EU Strategy for the development and availability of therapeutics

The European Commission is today complementing the successful EU Vaccines Strategy with a strategy on COVID-19 therapeutics to support the development and availability of much-needed COVID-19 therapeutics, including for the treatment of ‘long COVID'. Today's Strategy covers the full lifecycle of medicines: from research, development and manufacturing to procurement and deployment. It is part of the strong European Health Union, in which all EU countries prepare and respond together to health crises and ensure the availability of affordable and innovative medical supplies – including...

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05 May
Chapter News

FTC | Aiming for truth, fairness, and equity in your company’s use of AI

Advances in artificial intelligence (AI) technology promise to revolutionize our approach to medicine, finance, business operations, media, and more. But research has highlighted how apparently “neutral” technology can produce troubling outcomes – including discrimination by race or other legally protected classes. For example, COVID-19 prediction models can help health systems combat the virus through efficient allocation of ICU beds, ventilators, and other resources. But as a recent study(link is external) in the Journal of the American Medical Informatics Association suggests, if...

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05 May
Chapter News

IMF | US Dollar Share of Global Foreign Exchange Reserves Drops to 25-Year Low

The share of US dollar reserves held by central banks fell to 59 percent—its lowest level in 25 years—during the fourth quarter of 2020, according to the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey. Some analysts say this partly reflects the declining role of the US dollar in the global economy, in the face of competition from other currencies used by central banks for international transactions. If the shifts in central bank reserves are large enough, they can affect...

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