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Financial markets FATF Ministers commit to take decisive action against money laundering
Under German chairmanship the Ministers of the Financial Action Task Force (FATF) members committed to take swift and decisive action to improve the effectiveness of measures to fight money laundering, terrorist and proliferation financing at their meeting in Washington D.C. today. This includes promptly implementing the FATF’s global beneficial ownership rules, which were strengthened earlier …
Financial markets TIBER-DE enhances the security of the German financial system
The Federal Ministry of Finance and the German Bundesbank have decided to implement TIBER-DE, a new programme that will strengthen the resilience of the entire financial system to cyber attacks.
Climate action European Sustainable Finance Summit
As the European Sustainable Finance Summit gets underway, German Finance Minister Olaf Scholz and Environment Minister Svenja Schulze are calling on European companies to invest more in sustainable economic activities. The first survey, published today, on applying the EU taxonomy shows that just 2% of companies’ activities by revenue meet the taxonomy’s level of ambition for climate action and …
Climate action German Sustainable Finance Strategy
Today the federal cabinet adopted the first German Sustainable Finance Strategy. The goal of the strategy is to mobilise investments that are urgently needed for climate action and sustainability while also addressing the climate risks that are increasingly relevant to the financial system. Germany’s Sustainable Finance Strategy is setting a new course in the financial system based on the core …
europe German Recovery and Resilience Plan adopted
Today the German government adopted the German Recovery and Resilience Plan (DARP). Ninety percent of the spending in Germany’s recovery plan is targeted towards climate action and the digital transformation. This means that the German government is going well beyond the ambitious targets set by the EU. According to analysis by the German Institute for Economic Research (DIW), the planned …
Financial markets Scholz welcomes IMF’s historic decision
German Finance Minister Olaf Scholz commented: “Yesterday evening we decided at the International Monetary Fund, the IMF, to increase what are known as special drawing rights by US$650bn. This is historically unprecedented. It is the right, appropriate response to the Covid-19 pandemic. The new SDRs allow the international community to create additional liquidity and thereby foster the stability …
ukraine Management of the task force for implementing EU sanctions appointed
The task force that has been set up by the Federal Government to implement the EU sanctions appointed its management yesterday evening at its second meeting.
Coronavirus Large-scale federal assistance to protect businesses and jobs
German government activates the Economic Stabilisation Fund
europe Joint Statement on the European Payments Initiative (EPI)
by Belgium, Finland, France, Germany, the Netherlands, Spain and Poland
Climate action Sustainable Finance Committee takes up work
The German government created a Sustainable Finance Committee on 6 June 2019. The Committee’s purpose is to advise the German government as it drafts and implements a sustainable finance strategy, as well as to pool existing expertise and foster dialogue between the relevant players.