The European Investment Bank (EIB) and the five biggest European national promotional banks met to discuss the progress of existing joint initiatives, such as the Joint Initiative on Circular Economy (JICE), Quick Response — Care for Ukrainian Refugees in Europe, and Fund Marguerite. KfW CEO Stefan Wintels hosted EIB President Werner Hoyer and the other CEOs at the German promotional bank’s Berlin building. The heads of the respective institutions also exchanged views on the various national and European initiatives for...

Scaling up private capital is crucial to finance vital low-carbon infrastructure projects, particularly in less developed economies Private climate financing must play a pivotal role as emerging markets and developing economies seek to curb greenhouse gas emissions and contain climate change while coping with its effects. Estimates vary, but these economies must collectively invest at least $1 trillion in energy infrastructure by 2030 and $3 trillion to $6 trillion across all sectors per year by 2050 to mitigate climate change by...

One single charger for all mobile phones and tablets - beneficial for the environment and for consumers USB Type-C port will be the new standard for portable devices, offering high-quality charging and data transfers Buyers will be able to choose whether to purchase a new device with or without a charging device Following Parliament’s approval, EU consumers will soon be able to use a single charging solution for their electronic devices. By the end of 2024, all mobile phones, tablets...

Mutual funds holding hard-to-sell assets but offering daily redemptions can spark volatility and magnify the impact of shocks, especially in periods of market stress Mutual funds that allow investors to buy or sell their shares daily are an important component of the financial system, offering investment opportunities to investors and providing financing to companies and governments. Open-end investment funds, as they are known, have grown significantly in the past two decades, with $41 trillion in assets globally this year. That represents...

Global Financial Stability Considerations for Monetary Policy in a High-Inflation Environment by Vice Chair Lael Brainard at “Financial Stability Considerations for Monetary Policy,” a research conference organized by the Board of Governors of the Federal Reserve System and the Federal Reserve Bank of New York, New York, New York | I want to start by thanking Anna Kovner, Rochelle Edge, and Bill Bassett for organizing this conference. The current global environment highlights the importance of having strong analytic and empirical...

EACC is where the Action is, join us & be part of it! Activities during the Month of September at the EACC Network included: - @EACCCincinnati: Stammtisch - @EACCCincinnati: Trip to see Bengals vs. Miami Dolphins - @EACCNY: Meeting with Belgian Primeminister Alexander De Croo - @EACCNY: Briefing on Economic Effects of the War in Ukraine with Annika Eriksgård, Director for International Economic Relations & Global Governance, and Moreno Bertoldi, Acting Head of Unit, DG ECFIN – EUROPEAN COMMISSION) - @EACCCarolinas: Global Workforce Development ½...

Remarks by Luis de Guindos, Vice-President of the ECB, at a panel at the conference “Future of Central Banking” organised by Lietuvos bankas and the Bank for International Settlements | Frankfurt am Main, 29 September 2022 | I am very pleased to participate in this conference to mark the centenary of Lietuvos bankas. Building on the ECB’s recent strategy review and our reflections on the policy mix, I will outline my views on the interplay between monetary, macroprudential and fiscal...

Keynote speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at De Nederlandsche Bank/Official Monetary and Financial Institutions Forum conference on “Moving beyond climate: integrating biodiversity into financial markets” at Artis Zoo in Amsterdam The translation of the full Latin name of Artis Zoo, founded back in 1838 as “Natura Artis Magistra”, is “Nature is the teacher of the arts”. Today, nature has something to say to all...