Working Paper Series No 2283 / May 2019.
Goods imported and exported by the European Union (EU) can be invoiced in a range of currencies. In 2018, the euro was the most used currency for EU exports with a share of 48% of the total value of goods exported to non-EU countries and a share of 35% invoiced in US dollars. The picture was reversed for imports, with 56% of imports paid in US dollars and around a third in euros (35%). For total trade (exports plus imports) the US dollar (45%) was used slightly more often than the euro (41%).
Keynote lecture by Mr Ignazio Visco, Governor of the Bank of Italy, at the Aaron Institute for Economic Policy Conference 2019, Herzliya, 16 May 2019.
ESMA and the ECB have published press releases advertising the opening of a consultation on the plan for the transition from EONIA to €STR.
ECB harmonises definition of agencies as issuers or guarantors of debt instruments – Transparency requirements of EU Securitisation Regulation now part of collateral framework – Use of rating tools to be phased out from general framework for monetary policy operations