ECB and other major central banks to reduce frequency of 7-day US dollar operations from daily to three times per week, operations with 84-day maturity continue to be offered weekly New frequency effective from 1 July 2020, to remain in place for as long as appropriate to support smooth functioning of US dollar funding markets ECB and other major central banks stand ready to re-adjust provision of US dollar liquidity as warranted by market conditions In view of the...

Previously published in FINANCE & DEVELOPMENT, JUNE 2020, VOL. 57, NUMBER 2 | By Daniel Susskind, James Manyika, Jean Saldanha, Sharan Burrow, Sergio Rebelo, and Ian Bremmer Six prominent thinkers reflect on how the pandemic has changed the world Daniel SUSSKIND is a fellow in economics at Balliol College, Oxford University, and author of A World Without Work (Allen Lane, 2020). In March 2020, Rabbi Jonathan Sacks, an influential figure in British intellectual life, described the COVID-19 catastrophe as “the nearest we have to a revelation for atheists.” At the time...

Today, the European Commission launched a major review of the European Union's trade policy, including a public consultation seeking input from the European Parliament, Member States, stakeholders and civil society. The Commission's objective is to build a consensus around a fresh medium-term direction for EU trade policy, responding to a variety of new global challenges and taking into account the lessons learned from the coronavirus crisis. A strong European Union needs a strong trade and investment policy to support economic...

While all of us have tried to stay hopeful during these challenging times, after watching our cities and our citizens explode over the latest appalling incidents of racial injustice surrounding George Floyd, Breonne Taylor, Ahmaud Arbery and so many more; staying hopeful has become the most daunting of challenges.  Where can you turn? What can you do?  What next? We stand firmly behind the peaceful protests and protesters who are exercising their constitutional rights to speak out against racial injustice....

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 Markus Börlin, Swiss Ambassador & Consul General NY a Member of the EACCNY. The questions we asked our members for this series are: 1) What are some challenges you, personally and your...

Blog post by EU High Representative Josep Borrell | Rising international tensions and conflicts at the doorstep of Europe urge us to take our collective security into our own hands. Lately, four major Member States advocated making security and defence a top priority for the Union. I fully agree: since the beginning of the mandate of this Commission, we have placed our Common Security and Defence Policy at the very heart of the EU’s external policy. And while we have...

The Federal Reserve today published the FraudClassifier model—a set of tools and materials to help provide a consistent way to classify and better understand the magnitude of fraudulent activity and how it occurs across the payments industry. The model was developed by the Fraud Definitions Work Group, which was comprised of Federal Reserve and payments industry fraud experts. "The FraudClassifier model can help address the industrywide challenge of inconsistent classifications for fraud involving ACH, wire, or check payments," said Jim Cunha, secure...

“Addressing the tax challenges arising from the digitalisation of the economy is long overdue,” said OECD Secretary-General Angel Gurría. “All members of the Inclusive Framework should remain engaged in the negotiation towards the goal of reaching a global solution by year end, drawing on all the technical work that has been done during the last three years, including throughout the COVID-19 crisis. Absent a multilateral solution, more countries will take unilateral measures and those that have them already may...