ECB adjusts remuneration of certain non‑monetary policy deposits as of 1 May 2023

New ceiling for remuneration of euro area government deposits to be set at the euro short-term rate (€STR) minus 20 basis points, taking effect on 1 May 2023 Remuneration of deposits held under the Eurosystem reserve management services (ERMS) framework to be adjusted accordingly Measure aims to provide incentives for a gradual and orderly reduction […]

ECB keeps capital requirements steady in 2023, as banks remain resilient

SREP results show banks have solid capital and liquidity positions and increased profitability, with scores broadly unchanged CET1: weighted average of Pillar 2 requirements set at 1.1%, unchanged from last year CET1: weighted average of overall capital requirements and guidance in CET1 rise to 10.7%, up from 10.4%, reflecting impact of macroprudential policies Credit risk […]

ECB Consumer Expectations Survey results – December 2022

Compared with November: consumer expectations for inflation 12 months ahead remained unchanged, while expectations for inflation three years ahead edged up; expectations for nominal income growth over the next 12 months increased, while expectations for nominal spending growth decreased slightly; expectations for economic growth over the next 12 months increased, whereas they decreased for the […]

Turkey declared seven days of national mourning after the earthquakes, more than 1,600 dead

According to the data of the Turkish Disaster Management, at 4:17 local time, an earthquake with a magnitude of 7.4 occurred in the Pazarcik district of Kahramanmaras province in southern Turkey, which was followed by a 6.4 earthquake in the Nurdagi district of Gaziantep province in southeastern Turkey at 4:26 a.m. , followed by a […]

EU-India: new Trade and Technology Council to lead on digital transformation, green technologies and trade

Today, the EU and India have strengthened their relationship as strategic partners by setting up a new Trade and Technology Council (TTC). The new TTC will deepen strategic engagement on trade and technology between both partners. This follows the announcement by President of the European Commission Ursula von der Leyen and Prime Minister of India, Narendra Modi, on 25 […]

West and Central Africa: EU allocates €181.5 million for humanitarian aid in 2023

The EU has allocated €181.5 million this year for humanitarian aid in West and Central Africa, as this region continues to face protracted crises driven by conflict and worsened by other factors such as climate change and the global spike in food prices. New allocations have been announced for Burkina Faso (€25.5 million), Mali (€26 million), Mauritania (€6.5 million) and Central African […]