Chapter News

30 Jul
Chapter News

U.S. Gross Domestic Product, 2nd Quarter 2020 (Advance Estimate) and Annual Update

Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5.0 percent. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see "Source Data for the Advance Estimate" on page 2). The "second" estimate for the second quarter,...

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29 Jul
Chapter News, COVID-19 News

COVID-19 response: Safe collective cross-border travel in the COVID-19 era

As part of the EU's response to the Covid-19 pandemic, the Council today adopted a set of conclusions aimed at restoring passengers’ and workers' confidence by minimising the risk of infection in cross-border collective passenger transport systems. In the conclusions, the Council promotes a number of basic hygiene and infection control measures, which should apply to all cross-border collective passenger transport services. Such recommended measures consist of among others : physical distancing or, where this is not feasible, use of...

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29 Jul
Chapter News, COVID-19 News

European Commission secures EU access to Remdesivir for treatment of COVID-19

Yesterday, the European Commission has signed a contract with the pharmaceutical company Gilead to secure treatment doses of Veklury, the brand name for Remdesivir. Veklury was the first medicine authorised at EU level for treatment of COVID-19. As from early August onwards, and in order to meet immediate needs, batches of Veklury will be made available to Member States and the UK, with the coordination and support of the Commission. Stella Kyriakides, Commissioner for Health and Food Safety, said: “In recent...

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28 Jul
Chapter News

EACC COVID-19 Return To Work & Travel Attitudes Survey

The EACC chapter network asked members about their attitudes towards resuming various activities and the COVID-19 Pandemic: when might you return to your office full time; when might you be prepared to attend a large work related gathering; when might you resume international travel. See below an overview of the results in our chapters in the United States and Europe. About this survey: We reached out to members, based on both sides of the Atlantic, and 180 senior executives shared...

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28 Jul
Chapter News

IMF | Corruption and COVID-19

Corruption, the abuse of public office for private gain, is about more than wasted money: it erodes the social contract and corrodes the government’s ability to help grow the economy in a way that benefits all citizens. Corruption was a problem before the crisis, but the COVID-19 pandemic has heightened the importance of stronger governance for three reasons. First, governments around the world are playing a bigger role in the economy to combat the pandemic and provide economic lifelines to people and firms....

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28 Jul
Chapter News, COVID-19 News

U.S. Federal Reserve Board announces an extension through December 31 of its lending facilities that were scheduled to expire on or around September 30

The Federal Reserve Board on Tuesday announced an extension through December 31 of its lending facilities that were scheduled to expire on or around September 30. The three-month extension will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available to help the economy recover from the COVID-19 pandemic. The Board's lending facilities have provided a critical backstop, stabilizing and substantially improving market functioning and enhancing the flow of credit to households, businesses,...

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27 Jul
Chapter News, COVID-19 News

Special European Council, 17-21 July 2020

Main results EU leaders agreed a recovery package and the 2021-2027 budget that will help the EU to rebuild after the pandemic and will support investment in the green and digital transitions. We have reached a deal on the recovery package and the European budget. These were, of course, difficult negotiations in very difficult times for all Europeans. A marathon which ended in success for all 27 member states, but especially for the people. This is a good deal. This is...

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27 Jul
Chapter News

5G security: Member States report on progress on implementing the EU toolbox and strengthening safety measures

Press release by the European Commission and the German Presidency of the Council of the EU | Today, EU Member States, with the support of the European Commission and ENISA, the EU Agency for Cybersecurity, published a report on the progress made in implementing the joint EU toolbox of mitigating measures, which was agreed by the Member States and endorsed by a Commission Communication in January 2020. The toolbox sets out a joint approach based on an objective assessment of identified risks and proportionate...

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27 Jul
Chapter News

U.S. Federal Reserve Board finalizes rule that implements technical, clarifying updates to Freedom of Information Act (FOIA) procedures and changes to rules for the disclosure of confidential supervisory information (CSI)

The Federal Reserve Board on Friday finalized a rule that implements technical, clarifying updates to its Freedom of Information Act (FOIA) procedures and changes to its rules for the disclosure of confidential supervisory information (CSI), which is supervisory information belonging to the Board that may include proprietary financial institution-specific information. The final rule is generally similar to the proposal from June 2019, with a few changes in response to public comments. The final rule updates the Board's FOIA regulation to...

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27 Jul
Chapter News

ECB announces public consultation on the publication of compounded €STR rates

Consultation launched to seek feedback on the publication of compounded €STR rates by the ECB Comments by interested stakeholders to be received by 11 September 2020 The European Central Bank (ECB) is considering the publication of compounded term rates based on the euro short-term rate (€STR) and solicits views of the public on this matter by launching a public consultation. The publication would take place on a daily basis shortly after the €STR publication. Published maturities could range from one...

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