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Digital euro

Briefing 02-02-2024

On 28 June 2023, the European Commission presented a legislative package to establish a digital form of central bank money to complement its physical form (banknotes and coins) and laid out the rules and conditions for its use. The IA supporting the proposals is based on extensive internal and external expertise, including tailored ECB advice and JRC input on analytical methods and simulations. It presents a wide range of options to address the problems identified, but it is difficult to identify ...

Digital euro package

Briefing 18-09-2023

A digital euro can be understood as central bank money offered in digital form for citizens and businesses to be used for their retail payments. It would be a central bank digital currency (CBDC) –an electronic equivalent to cash, complementing banknotes and coins – and the central motivation to develop a CBDC can be explained by the increasing digitalisation of financial services. Banknotes and coins, currently the only public money, are considered the ultimate anchor of the financial system. However ...

The Windsor Framework

Kratki prikaz 10-03-2023

The Protocol on Ireland/Northern Ireland is an integral part of the 2020 EU-UK Withdrawal Agreement and was designed to avoid the need for a hard border on the island of Ireland. Implementation of the Protocol has been marred by rising tensions and political challenges, and both parties, particularly since Rishi Sunak became UK Prime Minister, have sought to address the main problems. The new agreement, called the Windsor Framework, seeks to improve the trading rules for Northern Ireland, bring stability ...

Blockchain technology could shake up many aspects of our daily lives, from the currency we use to the purchases we make. But what is the impact on our social values, and what can policy-makers do about it?

Regulation 648/2012 intends to make derivative markets more stable, transparent and efficient. It implements G20 commitments on over-the-counter derivatives and on the mitigation of risks on financial markets. It establishes several important principles and rules applicable to derivative contracts, such as a clearing obligation or a reporting obligation, but also rules applicable to subjects active in the financial markets, such as central counterparties or trade repositories. The implementation ...

In recent years, an extensive debate has evolved on the need for harmonisation of European sales law, with the existing diversity of contract laws in Member States being perceived as a barrier to trade and hence as burdensome for the European internal market. In November 2010 the European Commission commissioned a study supporting its Impact Assessment (IA) preparation on this matter. This report suggests that differences in contract law between Member States (MS) do create a barrier to trade, and ...

It has recently been established that Libor has been manipulated by Barclays Bank over a number of years. Improvements in the way Libor is calculated are being sought.