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ESM appoints Laure Salducci Head of HR and Organisation
.floatRightIcon { margin:0px 0px 1em 1em; float:right; } (Luxembourg) – The European Stability Mechanism (ESM) has appointed Laure Salducci to the position of Head of Human Resources and Organisation.
ESM appoints Matjaž Sušec Head of Policy Strategy and Institutional Relations
.floatRightIcon { margin:0px 0px 1em 1em; float:right; } (Luxembourg) – The European Stability Mechanism (ESM) has appointed Matjaž Sušec to the position of Head of Policy Strategy and Institutional Relations.
ESM names four heads of division
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ESM mandates Credit Agricole, Goldman Sachs and TD Securities as joint lead managers for a 5-year US Dollar benchmark transaction
THIS ANNOUNCEMENT RELATES TO AN OFFERING OF SECURITIES OFFERED AND SOLD PURSUANT TO RULE 144A AND/OR REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND IS ONLY DIRECTED AT QUALIFIED INSTITUTIONAL BUYERS UNDER RULE 144A OR PERSONS OTHER THAN U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) TO WHOM THE DISTRIBUTION OF THIS INFORMATION, WHETHER DIRECTLY OR INDIRECTLY, IS NOT UNLAWFUL.

 

A stronger banking union for a stronger recovery
European banks are safer since the global financial crisis and the sovereign debt crisis. With the outbreak of the pandemic, a number of measures were put in place to make sure liquidity reaches the real economy.
Patrick Honohan (Trinity College Dublin) at ESM Research Webinar
"Contrasting stabilization approaches in three island banking crises: Cyprus, Iceland, and Ireland"

Abstract: The three big European systemic bank crises of the GFC were resolved in remarkably different ways, whether one looks at it from the perspective of bail-in, of liquidity support, or of capital controls. These contrasts are partly explicable by the contrasting initial conditions: especially the scale of the banking insolvency; they are also explained by the evolution of international thinking on how to deal with such problems.

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ESM welcomes S&P’s rating decision

(Luxembourg) – The European Stability Mechanism (ESM) welcomes the decision by S&P Global Ratings (S&P) to assign the entity with a long-term AAA rating, a short-term A-1+ rating, and a stable outlook.

S&P's decision is based on the ESM's extremely strong enterprise risk profile and financial risk profile. This underlines the ESM's uniquely robust capital structure and strong shareholder base, consisting of the 19 euro area member states. The ESM also enjoys very high long-term ratings by Fitch (AAA) and Moody’s (Aa1).

ESM 12 month bill auction results

The result of the auction of 11 August 2020 for the 12-months Bills of the ESM was as follows:

Total Bids € 7,385.00 mn
Competitive bids € 1,716.00 mn
Non-competitive bids € 5,669.00 mn
Allotment / Issue volume € 1,499.65 mn
 

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