News

ECB has no doubt Fed will continue to supply dollars abroad

FRANKFURT (Reuters) -European Central Bank supervisors are analysing the dollar exposure of euro zone banks but there is no doubt the U.S. Federal Reserve will continue to supply liquidity at times of stress, ECB vice president Luis de Guindos said on Wednesday. U.S. President Donald Trump's recent attacks on the Fed have raised question about the U.S. central bank's independence and its long-standing commitment to ensuring that foreign banks don't run out of dollars when funding markets dry up. De Guindos said the ECB's supervisory arm was looking into this risk but he was confident that so-called swap lines between the Fed and major central banks, including the ECB, had been beneficial for both sides and would continue.

EU plans 2 euro fee for low-value parcels in setback for Shein, Temu

BRUSSELS (Reuters) -The European Union is set to propose a 2 euro ($2.27) handling fee for low-value e-commerce packages coming into the bloc, as it struggles to deal with the billions of goods sold by online platforms such as Shein and Temu to European consumers. The European Commission in February said it would remove the duty-free treatment of low-value consignments worth no more than 150 euros, but not until 2028. The Commission also said it would explore the possibility of an e-commerce handling fee.