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OFR Working paper-Shadow Banking:The Money View
July 2, 2014--Abstract
This paper presents an accounting framework for measuring the sources and uses of short-term funding in the global financial ecosystem. We introduce a dynamic map of global funding flows to show how dealer banks emerged as intermediaries between two types of asset managers: cash pools
searching for safety via collateralized cash investments and levered portfolio managers searching for
yield via funded securities portfolios and derivatives
We argue that the monetary aggregates (M0, M1, M2, etc.) and the Financial Accounts of the United States (formerly the Flow of Funds) do not
adequately reflect the institutional realities of the modern financial ecosystem, and should be updated to
allow policymakers to better analyze and monitor the shadow banking system and its potential
contributions to financial instability.
view the OFR Working paper-Shadow Banking:The Money View Certain ProShares Commodity ETFs Change Fund and Index Names view more Compass EMP Lists Three New ETFs on The NASDAQ Stock Market view more
CFTC Staff Extends Time-Limited, No-Action Relief for Swap Dealers and Major Swap Participants from Compliance with Reporting Obligations view more ALPS|Sterling ETF Tactical Rotation Fund Launches with Goal of Delivering Upside Participation with Reduced Volatility view more
Schwab Says ETFs Gaining More Retirement Assets view more First Trust Launches Actively Managed Short Duration High Yield Bond ETF view more
iShares Announces Index Change to iShares 10+ Year Credit Bond ETFs view more CFTC's Division of Clearing and Risk Issues No-Action Letter for Korea Exchange, Inc. view more US Economy Shrank at Steep 2.9 Percent Rate in Q1
The first-quarter contraction reported Wednesday by the government was even more severe than the 1 percent annual decline it had estimated a month ago. view more
Source: OFR (Office of Financial Research)
July 1, 2014--On or about July 1, 2014, the DJ-UBS commodity indexes will become the Bloomberg Commodity Index family.
As a result, the names of these indexes are changing, as are the names of the ProShares ETFs that seek to track the indexes. Note that only the names are changing. The methods for selecting index components remain the same, as do the investment objectives of the ETFs.
Source: ProShares
CFA, CFO and CDC, to Begin Trading on July 2nd, 2014
July 1, 2014--NASDAQ OMX today announced that Compass EMP will list three new exchange traded funds (ETFs) on Wednesday, July 2nd, 2014. Compass EMP U.S. 500 Volatility Weighted Index ETF (Symbol:CFA), Compass EMP U.S. 500 Enhanced Volatility Weighted Index ETF (Symbol:CFO) and Compass EMP U.S. EQ Income 100 Enhanced Volatility Weighted Fund (Symbol:CDC), will list on The NASDAQ Stock Market(R) (NASDAQ(R)).
"We are excited to introduce the first broad market, smart beta index that enhances market efficiency through fundamental criteria and security volatility weighting,"said Stephen Hammers, Chief Investment Officer of Compass EMP Funds. "These ETFs are also the first to market that have the ability to liquidate 75% of the securities in the index to cash in the event of a market decline."
Source: NASDAQ OMX
July 1, 2014--The U.S. Commodity Futures Trading Commission's (Commission) Division of Market Oversight (Division) recently issued a no-action letter extending until June 30, 2015
the relief previously provided in no-action letter 13-34, expiring on June 30, 2014
Source: CFTC.gov
Unique Investment Approach Seeks to Combine Global Asset Allocation, Cash, and High Conviction
July 1, 2014--ALPS, a DST Company focused on asset servicing and asset gathering, today announced the launch of the ALPS Sterling ETF Tactical Rotation Fund, a new fund that attempts to provide investors lower volatility, downside mitigation and better upside participation.
The Fund seeks to track the Sterling Tactical Rotation Index, a high conviction, global tactical index that employs an equal weighted strategic rotation model, trading between six broad-based asset classes: U.S. stocks, International stocks, REITs, Bonds, Commodities, and Cash.
Source: ALPS
June 30, 2014--The latest Charles Schwab Self-Directed Brokerage Account (SDBA) Indicators report shows more self-directed investors are allocating retirement asset to exchange traded funds.
The report, which highlights trends from approximately 170,000 retirement plan participants who currently have balances between $5,000 and $2 million in their Schwab Personal Choice Retirement Account, shows self-directed investors allocated 14% of their total retirement portfolios to ETFs at the end of the first quarter.
Source: Yahoo Finance
June 30, 2014--New ETF Provides Currency Hedged and Duration Managed Exposure to High Yield Corporate Bond Market
FT Portfolios Canada Co. ("First Trust Canada"), a privately owned company is pleased to announce the launch and initial issuance of the common and advisor class of units of the First Trust Short Duration High Yield Bond ETF (the "First Trust ETF").
Source: MarketWatch
June 26, 2014--iShares announced today that the iShares 10+ Year Credit Bond ETF (NYSEArca:CLY) will change its index effective June 30, 2014.
CLY's new index will be the Barclays U.S. Long Credit Index. The index change places all of the iShares credit ETFs with Barclays' indices.
Source: Bloomberg
June 26, 2014--The U.S. Commodity Futures Trading Commission's (Commission) Division of Clearing and Risk (DCR) today issued a time-limited no-action letter stating that DCR will not recommend that the Commission take enforcement action against Korea Exchange, Inc. (KRX)
for failing to register as a derivatives clearing organization (DCO) pursuant to Section 5b(a) of the Commodity Exchange Act (CEA).
Source: CFTC.gov
June 25, 2014--The U.S. economy shrank at a steep annual rate of 2.9 percent in the January-March quarter as a harsh winter contributed to the biggest contraction since the depths of the recession five years ago.
But the setback is widely thought to be temporary, with growth rebounding solidly since spring.
Source: ABC News
