Christine Lagarde, the Managing Director of IMF, has been nominated for the Presidency of ECB. In that context, she issued a statement specifying that, in consultation with the Ethics Committee of the IMF Executive Board, she has decided to temporarily relinquish her responsibilities as the Managing Director of IMF during the nomination period. If appointed, Ms. Lagarde would succeed Mario Draghi as the ECB president.
The IMF Executive Board states: “We accept Ms. Lagarde’s decision to relinquish her IMF responsibilities temporarily during the nomination period. We have full confidence in First Deputy Managing Director David Lipton as Acting Managing Director of the IMF.”
Keywords: International, EU, Banking, Christine Lagarde, ECB President, ECB, IMF
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FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
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