June 08, 2020 | The Federal Reserve Board on Monday expanded its Main Street Lending Program to allow more small and medium-sized businesses to be able to receive support. The Board lowered the minimum loan amount, raised the maximum loan limit, adjusted the principal repayment schedule to begin after two years, and extended the term to five years, providing borrowers with greater flexibility in repaying the loans. The Board expects the Main Street program to be open for lender registration...

Read more

June 09, 2020 | • Euro remains unchallenged as second most used currency globally after the US dollar • Role of euro stable as global reserve currency • International role declined after the global financial crisis, now bottomed out • Euro used as main currency of denomination globally for green bond issuance The euro’s international role remained overall stable in 2019. This was one of the principal findings in the latest annual report on The international role of the euro, published today by the European...

Read more

Together with our members we are creating a Video series of first-hand accounts of the Pandemic’s impact, both personally & professionally. We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak – Today we are featuring Cameron Heffernan, Director of North America, Mach Media a EACCNY member. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization have faced? 2)...

Read more

June 08, 2020 | The Council approved conclusions on the "Team Europe" package that is part of the EU's global response to the COVID-19 pandemic. In its conclusions the Council expresses its deep concern about the global spread of the COVID‑19 pandemic, which continues to claim lives worldwide and have far-reaching social and economic effects. The Council stresses the urgency of protecting the lives and livelihoods of all people, leaving no-one behind, and of prioritising efforts in partner countries that are most in need. In light of that the Council fully supports the "Team Europe" approach and welcomes the announcement that...

Read more

June 05, 2020 | Well-functioning and liquid gas markets are a prerequisite for ensuring affordable energy for consumers, competitiveness of industries, and security of supply. They also play a role in achieving the environmental ambitions of the European Green Deal, which foresees the decarbonisation of the gas sector via a forward-looking design for a competitive decarbonised gas market. To support the reflections on the possible need to enhance the EU regulatory framework for gas markets in the context of the European...

Read more

June 08, 2020 | • Further decline – by 6.3% on average – in number of bank branches in most EU Member States • Number of bank employees also continued to fall by 0.9% on average • Share of total assets of the five largest banks, at national level, ranged from 28% to 97% The European Central Bank (ECB) has updated its dataset of structural financial indicators for the banking sector in the European Union (EU) for the end of 2019. This annual...

Read more