ECB welcomes initiative to launch new European payment solution

ECB supportive of banks’ European Payments Initiative Pan-European card and digital wallet to complete European retail payments market The European Central Bank (ECB) welcomes the decision by 16 European banks to launch the European Payments Initiative. This initiative aims to create a unified payment solution for consumers and merchants across Europe, encompassing a payment card […]

Euro area quarterly balance of payments and international investment position: first quarter of 2020

Current account surplus at €285 billion (2.4% of euro area GDP) in four quarters to first quarter of 2020, down from €344 billion (3.0% of euro area GDP) a year earlier Geographic counterparts: largest bilateral surpluses vis-à-vis United Kingdom (€178 billion, up from €169 billion a year earlier) and United States (€108 billion, down from […]

The General Board of the European Systemic Risk Board held its 38th regular meeting on 25 June 2020

At its meeting on 25 June 2020, the General Board of the European Systemic Risk Board (ESRB) again focused on the consequences of the coronavirus (COVID-19) pandemic for the EU’s economy and the financial system. Even if the acute spread of COVID-19 seems to have been contained in Europe, the economy is still being affected by […]

International regulators provide guiding principles for COVID-19 clinical trials

EMA has endorsed a joint statement on prioritisation of COVID-19 clinical trials published by the International Coalition of Medicines Regulatory Authorities (ICMRA). Medicines regulators from around the world have jointly developed this statement to step up global collaboration to facilitate and expedite the development and evaluation of therapeutics, diagnostics and vaccines against COVID-19. “As the […]

ECB launches public consultation on its supervisory approach to consolidation

  ECB to clarify use of supervisory tools to facilitate sustainable consolidation projects Capital requirements will not hinder sustainable integration plans Badwill generally recognised and used preferably to increase resilience Consolidation can help banks achieve economies of scale and address new challenges ECB invites comments by 1 October 2020 The European Central Bank (ECB) today […]

EU inspectors to check consumer products for hazardous substances

Inspectors will check that the products comply with restrictionsfor selected hazardous substances under REACH. The controls will also check whether products comply with restrictions for the presence of persistent organic pollutants defined under the POPs Regulation. Specific substances to be covered by these checks will be decided in 2021 and could potentially include for example […]