Transatlantic News

Transatlantic News

Chapter News, COVID-19 News

Federal Reserve Board releases results of stress tests for 2020 and additional sensitivity analyses conducted in light of the coronavirus event

The Federal Reserve Board on Thursday released the results of its stress tests for 2020 and additional sensitivity analyses that the Board conducted in light of the coronavirus event. "The banking system has been a source of strength during this crisis," Vice Chair Randal K. Quarles said, "and the results of our sensitivity analyses show that our banks can remain strong in the face of even the harshest shocks." In addition to its normal stress test, the Board conducted a sensitivity...
Chapter News

New Eurosystem repo facility to provide euro liquidity to non-euro area central banks

Eurosystem repo facility for central banks (EUREP) introduced as precautionary backstop to address pandemic-related euro liquidity needs outside euro area EUREP to allow broad set of central banks to borrow euro against euro-denominated debt issued by euro area central governments and supranational institutions New facility to be available until June 2021 In response to the coronavirus (COVID-19) crisis, the Governing Council of the European Central Bank (ECB) decided to set up a new backstop facility, called the Eurosystem repo...
Chapter News, COVID-19 News

Reopening from the Great Lockdown: Uneven and Uncertain Recovery

The COVID-19 pandemic pushed economies into a Great Lockdown, which helped contain the virus and save lives, but also triggered the worst recession since the Great Depression. Over 75 percent of countries are now reopening at the same time as the pandemic is intensifying in many emerging market and developing economies. Several countries have started to recover. However, in the absence of a medical solution, the strength of the recovery is highly uncertain and the impact on sectors and countries...
Chapter News

More protection for our seas and oceans is needed, report finds

The Commission adopted today a report on the Marine Strategy Framework Directive (MSFD) which reveals that, while the EU's framework for marine environmental protection is one of the most comprehensive and ambitious worldwide, persistent challenges remain, such as excess nutrients, underwater noise, plastic litter, and other types of pollution as well as unsustainable fishing. This message is further reinforced in the European Environment Agency's “Marine Messages II” also published today. “This report and the accompanying EEA Marine Messages confirm that we need...
Chapter News

European innovation scoreboard

The European innovation scoreboard provides a comparative analysis of innovation performance in EU countries, other European countries, and regional neighbours. It assesses relative strengths and weaknesses of national innovation systems and helps countries identify areas they need to address. The European innovation scoreboard 2020 was released on 23 June 2020. European innovation scoreboard 2020 The 2020 edition of the innovation scoreboard highlights that the EU's innovation performance continues to increase at a steady pace, with growing convergence between EU countries. On average, the...
Chapter News

EACCNY #COVID19 Impact Stories from Our Members – European Investment Bank

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 Carlota Cenalmor, Permanent Representative of the European Investment Bank a Member of the EACCNY. The questions we asked our members for this series are: 1) What are some challenges you, personally...
Chapter News

Commission report: EU data protection rules empower citizens and are fit for the digital age

Today, just over two years after its entry into application, the European Commission published an evaluation report on the General Data Protection Regulation (GDPR). The report shows the GDPR has met most of its objectives, in particular by offering citizens a strong set of enforceable rights and by creating a new European system of governance and enforcement. The GDPR proved to be flexible to support digital solutions in unforeseen circumstances such as the Covid-19 crisis. The report also concludes that...
Chapter News

EU budget 2021: An annual budget focused on European recovery

The Commission has today proposed an EU budget of €166.7 billion for 2021, to be complemented by €211 billion in grants and approximately €133 billion in loans under Next Generation EU, the temporary recovery instrument aimed at mobilising investments and kick-starting the European economy. Together, the annual budget and Next Generation EU will mobilise significant investments in 2021 to address the immediate economic and social damage caused by the coronavirus pandemic, kick-start a sustainable recovery and protect and create...