In the past month, Rupert Bedell (CEO at Fasthosts) and Georges-Olivier Reymond (Co-founder and Co-CEO at Pasqal), commented on the UK Government AI Opportunities Action Plan. Rupert addresses the critical role data centres play in realising the plan’s ambitions and the importance of embedding sustainability into this infrastructure. Georges-Olivier discusses that, whilst the plan holds promise, it raises concerns about its underlying infrastructure as quantum computing is notably absent from the discussion. You can find the full comments from them below. Continue reading…

The latest Eurobarometer survey on ‘European citizens’ knowledge and attitudes towards science and technology’ released shows more than 8 in 10 citizens (83%) think that the overall influence of science and technology is positive. Two-thirds of respondents (67%) equally agree that science and technology make our lives easier, healthier and more comfortable. Respondents are most likely to think that renewable energies (87%), information and communication technology (79%) and vaccines and combatting infectious diseases (77%) will have a positive effect on our way of life in the next 20 years. Continue reading…

An international investigation spanning several years has led to the arrest of 23 criminals running a sophisticated money laundering scheme. The group acted as a financial service for other criminals to launder their profits. The scheme facilitated the laundering of approximately EUR 100 million. An international coalition of Spanish, Cypriot and German authorities, with support of the French authorities and Eurojust and Europol, was established to dismantle the group. The takedown resulted in the seizure of over EUR 8 million in cash and the freezing of EUR 27 million in cryptocurrencies. Continue reading…

The International Association of Insurance Supervisors (IAIS) has published its Roadmap 2025-2026, the first under the new IAIS Strategic Plan 2025-2029. The Roadmap outlines the projects and activities the IAIS will undertake in support of its four core objectives – namely to:

Monitor and respond to key risks and trends in the global insurance sector; Set and maintain globally recognised standards for supervision that are effective and proportionate; Support members by sharing good supervisory practices, promoting understanding of supervisory issues and facilitating capacity building; and Assess comprehensive and globally consistent implementation of global standards.

Continue reading…

The European Securities and Markets Authority (ESMA), the Finnish Financial Supervisory Authority (FSA) and the Hellenic Capital Market Commission (HCMC) welcome the recent inclusion in the Euribor panel of OP Corporate Bank and National Bank of Greece. The two banks join the group of credit institutions that contribute to Euribor under its revised methodology, which is a substitute for the panel banks’ expert judgement. The methodology was adopted in a phased approach by all members across the Euribor panel between May and October 2024. Continue reading…

A timely build-up of capital buffers that can be released in times of stress is essential for financial stability. One way to achieve this is by setting a positive countercyclical capital buffer (CCyB) rate early in the cycle when cyclical systemic risks are neither subdued nor elevated. Understanding how authorities can apply this “positive neutral” approach is essential to advancing the use of the CCyB. The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) has published a joint report aimed at deepening our knowledge of the implementation of positive neutral approaches to setting the CCyB in the European Economic Area (EEA). Continue reading…

by Olli Rehn

Distinguished Guests, Ladies and Gentlemen, Dear Friends, let me start by thanking the Hong Kong Monetary Authority for hosting this topical and thought-provoking conference. Discussing the changing global economy in “Asia’s World City” is, of course, very appropriate. As the title of the conference implies, the global economy is undergoing a transformation. In my talk today I would like to address a key aspect of this transformation, namely decoupling and fragmentation in the global economy. Is there evidence of geoeconomic fragmentation in the global trade and investment data? Or is global trade simply following the same trajectory as global economic output? There is, of course, an important difference between the paths of global trade and global output. Continue reading…

The Prudential Regulation Authority (PRA), in consultation with HM Treasury, has decided to delay the implementation of Basel 3.1 in the UK by one year until 1 January 2027. This allows more time for greater clarity to emerge about plans for its implementation in the United States. Basel 3.1 is the final set of international banking reforms designed in response to the 2008 global financial crisis. It is designed to improve banks’ own measurement of risk, standardising approaches between firms to make their capital ratios more consistent and comparable. Continue reading…

Eurojust has supported the German and Dutch authorities in stopping a series of severe retaliatory attacks between criminals using explosives and firearms to settle scores. A total of 23 suspects have been arrested, including three during an action day this week. Eurojust assisted with the execution of European Arrest Warrants (EAWs) and European Investigation Orders (EIOs) and coordinated the judicial cooperation between the authorities.

Continue reading…