In order to diffuse tensions in the euro area secondary sovereign bond market, the ECB, in its 7 August statement, indicated that it would resume its Securities Markets Programme. Importantly, this statement was made following the announcement of new fiscal and structural policy measures by the Italian and Spanish governments. III.
The secure payments task force also will advise the Fed on payment security matters, and determine areas of focus and priorities for future action to advance payment system safety, security, and resiliency. I am pleased to report that we are off to a great start in the months since the “Strategies for Improving the U.S. Payment System” paper was released.