The EACC chapter network recently asked its members across the network in Europe and the United States a series of questions to gauge how the pandemic was impacting their willingness to gauge in a range of activities. This repeated a survey we did a few months ago. We found some significant differences between Europe and the U.S. For example – overall, 57 percent of respondents said they had already or were prepared to return to their normal workplaces.  However, 73...

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The European Commission has today launched a new Customs Union Action Plan setting out a series of measures to make EU customs smarter, more innovative and more efficient over the next four years. The announced measures will strengthen the Customs Union as a cornerstone of the Single Market. They also confirm its major role in protecting EU revenues and the security, health and prosperity of EU citizens and businesses. In her political guidelines, President von der Leyen announced that the Customs Union...

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ECB phasing out secured marketable assets other than asset-backed securities, legislative covered bonds and multi-cédulas as collateral Application process and acceptance criteria for external credit assessment institutions clarified Amendments to treatment of breaches with respect to own fund requirements and reporting on capital ratios The European Central Bank (ECB) has today published amendments to its guidelines on the implementation of monetary policy in the Eurosystem, applicable from 1 January 2021. The amended guidelines implement a decision taken by the Governing...

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Keynote address by François Villeroy de Galhau, Gouverneur de la Banque de France, Official Monetary and Financial Institutions Forum webinar, 25 September 2020 | Good morning and welcome to this webinar, jointly organized by the Official Monetary and Financial Institutions Forum and the Banque de France. What better way to demonstrate the digital transformation than holding an event in cyberspace. It has been common in recent years to hear about disruptive technologies but over the past 6 months, information technology...

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Statement | 25 September 2020 | Brussels “The Commission has decided to appeal before the European Court of Justice the General Court's judgment of July 2020 on the Apple State aid case in Ireland, which annulled the Commission's decision of August 2016 finding that Ireland granted illegal State aid to Apple through selective tax breaks. The General Court judgment raises important legal issues that are of relevance to the Commission in its application of State aid rules to tax planning cases....

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