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  • BIS - Macroeconomic Effects Of Covid-19: An Early Review

    Date 17/04/2020

    Key takeaways

    • Past epidemics had long-lasting effects on economies through illness and the loss of lives, while Covid-19 is marked by widespread containment measures and relatively lower fatalities among young people.
    • The short-term costs of Covid-19 will probably dwarf those of past epidemics, due to the unprecedented and synchronised global sudden stop in economic activity induced by containment measures.
    • The current estimated impact on global GDP growth for 2020 is around -4%, with substantial downside risks if containment policies are prolonged. Output losses are larger for major economies.  

  • ESMA And Monetary Authority Of Singapore Sign MoU On Singapore’s Financial Benchmarks

    Date 17/04/2020

    The European Securities and Markets Authority (ESMA), the European Union’s (EU) securities markets regulator, and the Monetary Authority of Singapore (MAS) today signed a Memorandum of Understanding (MoU), completing the process to allow the use of Singapore’s financial benchmarks in the EU. Under the MoU, ESMA and MAS will share information and supervisory activities on Singapore-regulated financial benchmarks.

  • Airfreight Futures Market Takes Flight As Short Term Volatility Bites - Adoption Of TAC Index Data By Baltic Exchange Reflects Industry’s Need For Mechanism To Manage Price Risk For Shippers And Carriers

    Date 17/04/2020

    Freight Investor Services, in collaboration with air freight price data provider TAC Index has passed another major waypoint in the development of the index-linked physical and air freight derivatives markets.

  • BIS: Covid-19 And Operational Resilience: Addressing Financial Institutions' Operational Challenges In A Pandemic

    Date 17/04/2020

    Highlights

    Guidance issued by financial sector authorities in response to the Covid-19 crisis seems to suggest that international efforts to come up with operational resilience standards should take into account at least the following elements:
    • critical/essential employees: identifying the critical functions and employees that support important business services, as well as ensuring employees' safety and that they can safely resume their duties (remotely, if necessary).
    • IT infrastructure: ensuring that IT infrastructure can support a sharp increase in usage over an extended period and taking steps to safeguard information security.
    • third-party service providers: ensuring that external service providers and/or critical suppliers are taking adequate measures and are sufficiently prepared for a scenario in which there will be heavy reliance on their services.
    • cyber resilience: remaining vigilant in order to identify and protect vulnerable systems, and detect, respond and recover from cyber attacks.

  • Deutsche Börse AG: Preliminary Announcement On The Disclosure Of Financial Statements

    Date 17/04/2020

    The quarterly statement is lpanned to be published on 29 April, 2020.