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New iShares ETF on Xetra: Sustainable US corporate bonds
March 6, 2020--Since Friday, a new iShares ETF has been tradable via Xetra and Börse Frankfurt.
With the iShares $ Corp Bond ESG UCITS ETF USD (Dist), investors can participate in the performance of fixed-interest corporate bonds denominated in US dollars. The investment universe includes bonds with an investment grade status, a remaining maturity of at least one year and a minimum outstanding amount of $300 million.
The benchmark index excludes companies with products that have a negative social or environmental impact. These include producers of alcohol, tobacco, gambling, adult entertainment, genetically modified organisms, nuclear power and weapons.
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Source: Deutsche Börse
EU taxonomy: Expert report to tackle greenwashing in finance
March 5, 2020--The EU's battle to end greenwashing in the finance sector should gain ground on Monday 9 March when proposed rules on which investments should qualify as climate-friendly are published.
The report by the European Commission's 'Technical Expert Group'-which WWF was part of-will contain suggested criteria for the EU taxonomy-a system which aims to select some economic activities as environmentally sustainable.
Why does it matter?
If it works properly, the EU taxonomy will help determine the sustainability of all activities and stop financial players falsely labelling unsustainable investments as climate-friendly. For example, the taxonomy is expected not to include gas power and nuclear power. The taxonomy's classification should inform public and private investment decisions, and it is a new powerful tool to make the EU economy environmentally and socially sustainable.
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Source: eubusiness.com
ECB-Monetary developments in the euro area: January 2020
February 27, 2020--Annual growth rate of broad monetary aggregate M3 increased to 5.2% in January 2020 from 4.9% in December 2019 (revised from 5.0%)
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, stood at 7.9% in January, compared with 8.0% in December
Annual growth rate of adjusted loans to households stood at 3.7% in January, compared with 3.6% in December
Annual growth rate of adjusted loans to non-financial corporations stood at 3.2% in January, unchanged from previous month
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 increased to 5.2% in January 2020 from 4.9% in December 2019, averaging 5.2% in the three months up to January. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate M1, which comprises currency in circulation and overnight deposits, stood at 7.9% in January, compared with 8.0% in December.
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Source: ECB
Basel Committee meets to review vulnerabilities and emerging risks, advance supervisory initiatives and promote Basel III implementation
February 27, 2020--The Basel Committee on Banking Supervision met in Basel on 26-27 February 2020 to review risks impacting the banking system, advance a range of supervisory initiatives and promote the implementation of Basel III.
The Committee dedicated a portion of its meeting to discussing progress on a strategic review initiated last year.
The Committee has consulted with members and stakeholders on its future priorities, its structure and its processes
Members discussed the feedback received and exchanged initial views on the way forward. The Committee aims to finalise its review in the course of the year.
The Committee discussed the financial stability implications of the coronavirus outbreak (Covid-19) for the banking system and exchanged information on the business continuity measures that banks and authorities have put in place.
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Source: BIS
Bank of England 'Turbo-Charging' Libor Transition
February 26, 2020--The Bank of England is going to publish a new Sonia daily index and discourage the use of Libor-linked collateral to encourage the market to move away Libor to the new risk-free reference rate.
Andrew Hauser, executive director, markets at the Bank of England gave a keynote speech at the International Swaps and Derivatives Association/SIFMA Asset Management Group Benchmark Strategies Forum 2020 in London this morning.
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Source: marketsmedia.com
ETF firm hires GSAM fund manager as its first ever CIO.
February 25, 2020--Specialist fixed income-focused provider names formerly Citywire A-rated manager to senior post.
ETF specialist Tabula Investment Management has hired Jason Smith to serve as its first chief investment officer to drive the future fund launches at the group.
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Source: citywireselector.com
ETF upstart unveils cybersecurity and medical marijuana funds
February 20, 2020--An ETF specialist boutique launched by four former Legal & General Investment Management (LGIM) employees has unveiled two thematic ETFs as it seeks to capitalise on future trends.
Rize ETF has unveiled two Dublin-listed products, the Rize Cybersecurity and Data Privacy Ucits ETF (CYBR) and the Rize Medical Cannabis and Life Sciences Ucits ETF (FLWR).
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Source: topshelf.news
Euro area investment fund statistics: fourth quarter of 2019
February 20, 2020--In the fourth quarter of 2019 the outstanding amount of shares/units issued by investment funds other than money market funds was €12,939 billion, €398 billion higher than in the third quarter of 2019.
The outstanding amount of shares/units issued by exchange-traded funds (ETFs) was €852 billion, which was €73 billion higher than in the third quarter of 2019.
The outstanding amount of shares/units issued by money market funds was €1,237 billion, €10 billion lower than in the third quarter of 2019.
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Source: ECB
ECB-Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main
On Wednesday and Thursday, 22-23 January 2020
February 20, 2020--1. Review of financial, economic and monetary developments and policy options
Financial market developments
Ms Schnabel reviewed the latest financial market developments.
The period since the Governing Council's monetary policy meeting on 11-12 December 2019 had been marked by three major events: the year-end, the geopolitical tensions in the Middle East, and the signing of the "phase-one" trade agreement between the United States and China. The trade agreement appeared to be the most significant, as it had helped consolidate the general improvement in market sentiment that had gained momentum in early September 2019. Expectations that monetary policy would remain highly accommodative, both in the United States and in the euro area, further supported the improved market sentiment.
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Source: ECB
Source: ECB
IMF-Departmental Paper-Macroprudential Policies and House Prices in Europe
February 20, 2020--Summary:
Macroprudential policy in Europe aligns with the objective of limiting systemic risk, namely the risk of widespread disruption to the provision of financial services that is caused by an impairment of all or parts of the financial system and that can cause serious negative consequences for the real economy.
view the IMF-Departmental Paper-Macroprudential Policies and House Prices in Europe
Source: IMF