The Federal Reserve Board on Tuesday announced the second extension of a rule to bolster the effectiveness of the Small Business Administration's (SBA) Paycheck Protection Program (PPP). Like the earlier extensions, this one will temporarily modify the Board's rules so that certain bank directors and shareholders can apply to their banks for PPP loans for their small businesses. To prevent favoritism, the Board limits the types and quantity of loans that bank directors, shareholders, officers, and businesses owned by these...

Speech by Fabio Panetta, Member of the Executive Board of the ECB, at a Bruegel online seminar | Throughout history, innovations in money have challenged and altered the structure of the financial system. Time and time again, innovations have given rise to debates about the risks they pose and the rewards they bring, as well as the role of central banks in building confidence in money. Paper banknotes are a case in point. As they were easy to carry, they made...

Rule Expected to Protect the Economic Interests of American Workers | WASHINGTON—U.S. Citizenship and Immigration Services has announced a final rule that will modify the H-1B cap selection process, amend current lottery procedures, and prioritize wages to protect the economic interests of U.S. workers and better ensure the most highly skilled foreign workers benefit from the temporary employment program. Modifying the H-1B cap selection process will incentivize employers to offer higher salaries, and/or petition for higher-skilled positions, and establish a more certain path...

The Portuguese IP office (INPI) is organising a virtual high-level conference on Intellectual Property and Digital Transition, on 11 February 2021. Under the theme of ‘The Intellectual Property metamorphosis in the Age of Digital Transition - Remember the past, Act in the Present, and Reflect on the challenges of the Future’, the conference will focus on two central themes: digital transition and intellectual property. The event has been organised within the framework of activities of Portugal’s presidency of the Council of the...

To relaunch and strengthen the strategic partnership between the European Union and its Southern Neighbourhood partners, the European Commission and the High Representative today adopted a joint communication proposing an ambitious and innovative new Agenda for the Mediterranean. The new Agenda is based on the conviction that by working together and in a spirit of partnership, common challenges can be turned into opportunities, in the mutual interest of the EU and its Southern neighbours. It includes a dedicated Economic and Investment...

Interview with Le Journal du Dimanche | There’s been a glut of bad news throughout Europe recently. How can we hold to the economic projections? Uncertainties are indeed multiplying. As far as the economists at the ECB can remember, there have never been as many. Our projections are published every three months. One way of preserving a degree of optimism despite the current circumstances is simply to think back to the ECB’s projections released in September 2020 and the multiple uncertainties...

Decision follows successful completion of pilot phase First round of survey results to be published on 18 June 2021 Survey runs eight times a year, ahead of each Governing Council monetary policy meeting The European Central Bank (ECB) announces today that it will begin publishing aggregate results of its Survey of Monetary Analysts (SMA) in June 2021. The survey, an ECB staff-level exercise, collects information on market participants’ expectations about the future evolution of key monetary policy parameters, financial...