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EU: Levies For Exceeding Milk Quota Total € 340 million

added: 14-10-2008

Certain Member States face levies totalling just over € 340 million for exceeding their milk quotas during the 2007/2008 marketing year, according to a provisional calculation by the European Commission, based on Member States' annual declarations.

Fitch: Impact of Falling Stock Markets on Japan's Major Banks

added: 14-10-2008

Fitch has issued a special report assessing the impact of falling stock markets on Japan's major banks and concluded that the indirect impact via their stock holdings is now close to the point where their capital ratios may come under pressure.

Electronic Money: Commission Proposes Clear Legal Framework for Innovative Payment Solutions

added: 14-10-2008

The European Commission has put forward a proposal revising the current rules governing the conditions for issuing electronic money in the EU. The proposal follows extensive consultation which showed that the current rules, dating from 2000, have hindered the take-up of the electronic money market, hampering technological innovation. The revised rules will facilitate market entrance for new providers and contribute to develop an industry whose expected volume could reach up to EUR 10 billion by 2012.

Euro Area Investment Fund Statistics in June 2008

added: 14-10-2008

The total assets of euro area investment funds decreased to EUR 5,015 billion at end-June 2008, from EUR 5,161 billion in March 2008.1 This development was mainly due to a fall in the amount outstanding of both securities other than shares, from EUR 1,858 billion to EUR 1,807 billion, and shares and other equity, from EUR 1,670 billion to EUR 1,624 billion.

Financial Institutions on Credit Crisis

added: 13-10-2008

The global financial crisis will lead to radical changes in the structure of the financial services industry with more financial institutions set to fail, according to a survey of financial institutions by international legal practice Norton Rose Group.

Composite Leading Indicators Signal Continued Slowdown in OECD Area

added: 13-10-2008

OECD composite leading indicators (CLIs) for August 2008 indicate a continued weakening outlook for all the major seven economies. The latest data for major non-OECD member economies tentatively point to expansion in Brazil, a downturn in China and Russia and a slowdown in India.

Measures Designed to Address Elevated Pressures in the Short-Term US Dollar Funding Markets

added: 13-10-2008

In order to provide broad access to liquidity and funding to financial institutions, the Bank of England (BoE), the European Central Bank (ECB), the Federal Reserve, the Bank of Japan, and the Swiss National Bank (SNB) are jointly announcing further measures to improve liquidity in short-term US dollar funding markets.

OECD Standardised Unemployment Rate rises to 6.0% in August 2008

added: 13-10-2008

The standardised unemployment rate for the OECD area was 6.0% in August 2008, 0.2 percentage point higher than the previous month and 0.4 percentage point higher than a year earlier.

Council Deal on Energy Package: a Crucial Step Towards Completing the Internal Energy Market

added: 13-10-2008

President Barroso and Energy Commissioner Andris Piebalgs have welcomed the agreement reached by EU Energy Ministers on the Commission's 2007 legislative package for the EU electricity and gas market. This agreement will enable many of the benefits of an open and competitive energy market including fair prices for citizens and industry; business opportunities for new or smaller companies (for instance those investing in renewable energy); or clear investment conditions for new power plants and transmission networks which can result in increased security supply and less risk of blackouts.

Australian Financial Security: Australia's Blanket Guarantee

added: 13-10-2008

Australia will guarantee all deposits being held in Australian financial institutions for the next three years.

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