Member News, News

TREPP: US CMBS Delinquency Rate Plunges in December

The Trepp CMBS delinquency rate continued to drop in December, with a rate decrease of 23 basis points. December marks the seventh straight month of improvement in the rate. The delinquency rate for US commercial real estate loans in CMBS is now 7.43%. The delinquency rate ended the year 228 basis points better than where it was at the end of 2012. Since reaching a peak level of 10.34% in 2012, the Trepp delinquency rate has dropped 291 basis points....

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Member News, News

TREPP Looking back: December Loss Analysis: Volume, Severity Stay Steady

December liquidation volume and loss severity stayed fairly close to November’s levels, which were a rebound from two months of below average activity. Liquidation volume registered $1.28 billion in December, up slightly from $1.21 billion in November and in line with the 12-month moving average of $1.18 billion. Of the loans liquidated, 90% fell into the greater than 2% loss severity category. December loss severity came in at 50.36%, up from November’s 48.10% and considerably higher than October's 38.58%. The...

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Chapter News, News

Ambassador Vale de Almeida Highlights EU-U.S. Cooperation in 2014

In his annual New Year's message, the EU Ambassador to the United States João Vale de Almeida highlights 2014 as a year for strong transatlantic cooperation.  "There is a lot we can do together based on our common values, but also accepting our differences. Most importantly we need to focus on what we can do to help our citizens to find jobs, what we can do to promote economic growth, and what we can do to help the world...

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Chapter News, News

Latvia becomes the 18th Member State to adopt the euro

After Latvia adopted the euro at midnight December 31st– on the 15th anniversary of the launch of the euro in 1999 – 18 Member States and 333 million Europeans will share the same currency. This is a major achievement for Latvia and for the euro area as a whole. On January 1st, Latvians will start withdrawing euro cash and paying for their purchases in euro. This has been made possible thanks to thorough preparations ahead of the introduction of the...

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Chapter News, News

Interview with Mario Draghi, President of the ECB, with Der Spiegel

SPIEGEL: Mr Draghi, do you know Andrea Nahles? Draghi: I have heard the name before but I don’t know her personally. SPIEGEL: Ms Nahles is the new German Labour minister and boss of Jörg Asmussen, your former colleague in the Executive Board of the ECB. That he gives up this prestigious job has caused great surprise in Germany. Did you chase him out?Draghi: Jörg and I had an excellent personal and professional relationship. I consider it as a great loss for...

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Chapter News, News

New Regulation Of Italian Communication Authority On Copyright Enforcement

Last December 12, 2013 the Italian Communication Authority (AGCOM) approved a new regulation on online copyright enforcement that will enter into force on March 31, 2014. The new regulatory framework is a first-of-its-kind for Italy or the EU. Such new rules may potentially affecting all companies with a digital presence: not only ISPs and social media, but also companies hosting forums, newsgroups or any kind of user-generated content. According to such rules, AGCOM may order access or hosting providers to remove “digital...

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Chapter News, News

Austria News: Among the Top Three Competitive Nations in the Eurozone

The German insurance company Allianz positively rated Austria’s economic competitiveness in a current study on the eurozone economies. The study evaluated overall balance, taking account of the labor market, public finances, debt, wealth and competitiveness. Austria was ranked third among 17 eurozone countries, outperformed only by Germany and Estonia. Austria was one of the few core countries in the eurozone which managed to improve its overall standing since 2012. Austrian Government program strengthens business location The agenda of the new Austrian...

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Member News, News

Investment Funds AML Sectoral Guidelines Agreed with Central Bank

On 18 December 2013, the Irish Funds Industry Association (the “IFIA”) released Investment Funds Sectoral Guidelines on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (the “Sectoral Guidelines”). The release of the Sectoral Guidelines follows extensive engagement between the IFIA and the Central Bank of Ireland (the “Central Bank”) in order to develop a standard that the Central Bank can use in determining that an investment fund has adequate measures...

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Member News, News

UK Holding Company Popularity

With recent changes in international tax planning and the need to look further afield when deciding the most suitable jurisdiction for structuring purposes, the UK has positioned itself as an important centre to consider. In addition to having a good international reputation, political stability and being a member of the EU, the UK can offer the following potential advantages: • A wide tax treaty network - over 100 double taxation treaties. • The tax treaty network enables dividends from many countries...

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Chapter News, News

EU-US Trade Talks Should Top Our 2014 To-Do List

Op-ed  by EU Ambassador Vale de Almeida - Published EU Delegation Website and Huffington Post Negotiators from the European Union and United States are taking a well-deserved break after wrapping up the latest round of our Transatlantic Trade and Investment Partnership (TTIP) talks in Washington today. We have been engaging our American counterparts on everything from tariffs on chocolate to car safety standards in talks this week. And we have been hard at work ever since President Barack Obama announced the...

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