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Transatlantic News
Transatlantic News
13
Apr
The turmoil seen in March 2020 highlighted key vulnerabilities in the money market fund (MMF) sector. This article assesses the effectiveness of the EU’s regulatory framework from a financial stability perspective and identifies three important lessons. First, investment in non-public debt assets exposes MMFs to liquidity risk, highlighting the need to limit investment in illiquid assets. Second, low-volatility net asset value (LVNAV) funds are particularly vulnerable to liquidity shocks, given that they invest in non-public debt assets while offering...
12
Apr
The European Commission has today proposed to exempt from Value Added Tax (VAT) goods and services made available by the European Commission, EU bodies and agencies to Member States and citizens during times of crisis. This responds to the experience gained during the course of the Coronavirus pandemic. Among other things, it has shown that the VAT charged on some transactions ends up being a cost factor in procurement operations that strains limited budgets. Therefore, today's initiative will maximise the efficiency of...
08
Apr
Erin McKelvey,
Executive Director, EACCTX
The European American Chamber of Commerce Welcomes Texas to its Growing Network
Ruth Baron,
President, EACCTX
The European American Chamber of Commerce is delighted to announce the addition of Texas to our network. The EACC Texas Chapter was transitioned from the 41 yr. old French-American Chamber of Commerce DFW, whose Board agreed unanimously that including Europe as a whole is the Future especially when it comes to building fruitful Transatlantic Business connections.
The newly formed EACC Texas brings an additional...
08
Apr
France Payments Forum – Les Rencontres Digitales Conference 2021 – Crypto-payments, 8 April 2021; Opening address by Denis Beau, First Deputy Governor |
Introduction
The health crisis that we have all been living through for a year now has affected people's day-to-day habits, changing not only how we consume but also how we like to pay. This has sped up the transition towards more digital approaches.
This acceleration raises major challenges for Europe’s payment ecosystem, but also for payment regulators and supervisors....
07
Apr
The EU Commission is mobilising €123 million from Horizon Europe, the new EU research and innovation programme, for urgent research into coronavirus variants. This first emergency funding under Horizon Europe adds to a range of EU-funded research and innovation actions to fight the coronavirus and contributes to the Commission's overall action to prevent, mitigate and respond to the impact of coronavirus variants, in line with the new European bio-defence preparedness plan HERA Incubator.
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth,...
07
Apr
Targeted longer-term refinancing operations (TLTROs) are central to making sure that our monetary policy reaches people. Through TLTROs, the ECB offers longer-term loans to banks at favourable costs and encourages them to lend to businesses and consumers in the euro area. This keeps borrowing costs low and supports spending and investments.
How does it work? TLTROs are different from our main refinancing operations in three distinctive ways:
TLTROs are specifically targeted – as the name says – at maintaining or...
07
Apr
The race to vaccinate against COVID-19 continues, but the pace of inoculation varies widely across countries, with access unavailable to many. Global cooperation must be stepped up to produce and distribute vaccines to all countries at affordable costs. The sooner vaccinations curb the pandemic, the faster economies can return to normal.
'The sooner vaccinations curb the pandemic, the faster economies can return to normal.'
If the global pandemic is controlled via vaccination, the resulting stronger economic growth would yield more than $1...
06
Apr
After enduring a tumultuous 2020, the global economy is finally emerging from the worst phases of the COVID-19 pandemic, albeit with prospects diverging starkly across regions and countries—and only after a “lost year” spent in suspended animation. The economic trauma would have been much worse if the global economy had not been supported by the unprecedented policy actions taken by central banks and by the fiscal measures implemented by governments.
'Global markets are watching the current rise of US long-term...