16 Dec
Chapter News, News

Statement by Commissioner Barnier on the appointment of Danièle Nouy as first Chairperson of the Supervisory Board of the Single Supervisory Mechanism

"I welcome the appointment by the Member States of Danièle Nouy as first Chairperson of the Supervisory Board of the Single Supervisory Mechanism (SSM) (IP/12/953). Her nomination was approved by the European Parliament last week." "As Chair of the Supervisory Board of the SSM, Danièle Nouy will play a central role in the banking union. She is an excellent choice for the tough job ahead. Building a brand new structure to supervise banks in Europe is a major challenge and...

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13 Dec
Member News, News

TREPP: 2 Credit Stories & Trading Alert for New York Properties

Trading Alert: NYC Hotel Modified, Backs 2007 Deal Barclays reported late on Thursday that the $46.6 million Crowne Plaza - LaGuardia loan has been modified. (Kudos to the Barclays research team for unearthing the bankruptcy court documents that contained the details.) The 358 room hotel located near LaGuardia airport was built in 1986 and renovated in 2005. The loan was originally slated to mature in March 2017, but the date has been pushed out to November 2023. The loan was also originally locked out...

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12 Dec
Chapter News, News

Ambassador Vale de Almeida in The Hill: More Trade Brings More Jobs

Writing in today's edition of The Hill, European Union Ambassador to the United States João Vale de Almeida welcomes the WTO agreement reached in Bali last week as it sets up a promising 2014 for global trade. This is particularly encouraging as the EU and the U.S. are moving ahead at full speed with the third round of Transatlantic Trade and Investment Partnership (TTIP), which takes place in Washington, DC next week. "Both the U.S. and EU need open economies...

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12 Dec
Member News, News

Irish AIFMs – Ready to Set Sail

The Central Bank of Ireland has set the AIFMD application filing deadline for Irish-based fund managers for February 21, 2014. This is five months ahead of the 22 July 2014 deadline set by the Directive, giving the Irish regulator sufficient time to process applications and ensure GPs are fully authorized in time.  Managers who wish to continue to market their funds into Europe must ensure they have the required processes, controls and governance in place to support their application by...

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11 Dec
Chapter News, News

Calls for Proposals under the EU’s Horizon 2020 Research and Innovation Program

The European Commission presented for the first time today calls for Proposals under Horizon 2020, the European Union's new 80 billion euro research and innovation program, which runs from 2014 to 2020. Worth more than 15 billion euros over the first two years, the funding is intended to help boost Europe's knowledge-driven economy, and tackle issues that will make a difference in people's lives. "Horizon 2020 funding is vital for the future of research and innovation in Europe, and will...

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11 Dec
Member News, News

Granito Thanks Sole24Ore for Promoting Inclusive Leadership

EACC New york Member GRANITO is honored to have been recognized in Monday's Sole24Ore newspaper's special magazine insert dedicated to "Woman, Economy and Power". We are pleased that a global publication has recognized the extraordinary efforts being made to advance the placement of women in the "C" level of major corporations, and Sole24Ore's decision to recognize this accomplishment by publishing a special 63 page insert dedicated to recognizing the talents and accomplishments of businesswomen, led by the efforts of  Hon. Lella Golfo, President of Fondazione Bellisario. The  Sole24Ore magazine gives visibility to...

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11 Dec
Chapter News, News

ECOFIN Defines Guidelines for Agreement on Single Resolution Mechanism

European Union Finance Ministers on December 10 took further steps in the development of the Banking Union by agreeing on a mandate for final negotiation stage on Bank Recovery and Resolution as well as Deposit Guarantee Schemes directives with European Parliament. The Ministers also defined the guidelines on various elements of SRM which should facilitate an agreement on the proposal in the ECOFIN Council on December 18. “On the Single Resolution Mechanism, we have no formal result in our pocket...

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10 Dec
Chapter News, News

New Mortgage Rules to be Properly enforced EU-wide

Measures to enforce EU rules that will ensure home buyers across the EU are fully informed of the real costs of taking on a mortgage, and properly protected against the worst risks, were approved by MEPs on Tuesday, in a vote on legislation already agreed with EU member states. “For most families, a mortgage is the biggest and longest financial commitment they make. So we need these rules to drive progress towards an EU-wide  mortgage market that is stable,...

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10 Dec
Chapter News, News

Aviation: EU Extends the Use of Electronic Devices on Planes

The EU's Aviation Safety Agency (EASA) has today updated its guidance on the use of portable electronic devices on board (PED), including smartphones, tablets and e-readers. It confirms that these devices may be kept switched on in "Flight Mode" (non-transmitting mode) throughout the journey (including taxiing, take-off and landing) without a risk to safety. EU Transport Commissioner, Vice President Siim Kallas has asked EASA to accelerate its safety review of the use of electronic devices on board in transmitting mode,...

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06 Dec
Member News, News

Luxembourg News Flas: Highlights of the New Government Programme

The new coalition government of Luxembourg formed after the elections held last October recently released its government programme. It is the expression of a strong commitment to further strengthen the competitiveness of the Luxembourg economy and to sustain the long-term development of its financial centre. Arendt & Medernach, one of the pre-eminent Luxembourg lawfirms and a EACCNY member would like to share with you the key measures highlighted in this programme. To download the document, please follow this link. For further information,...

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