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Monetary developments in the euro area: February 2020
March 26, 2020--Annual growth rate of broad monetary aggregate M3 increased to 5.5% in February 2020 from 5.2% in January
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 8.1% in February from 7.9% in January
Annual growth rate of adjusted loans to households stood at 3.8% in February, compared with 3.7% in January
Annual growth rate of adjusted loans to non-financial corporations decreased to 3.0% in February from 3.2% in January
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 increased to 5.5% in February 2020 from 5.2% in January, averaging 5.2% in the three months up to February. The components of M3 showed the following developments.
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Source: ECB
New iShares ETF on Xetra: Corporate bonds with a focus on sustainability
March 26. 2020--Since Thursday, a new Exchange Traded Fund of iShares has been tradable on Xetra and Börse Frankfurt.
With the iShares $ Corp Bond ESG UCITS ETF USD (Acc), investors can participate in the performance of fixed-income corporate bonds denominated in US dollars.
The investment universe includes bonds with investment grade status, a minimum residual maturity of one year and a minimum outstanding amount of $300 million. The benchmark index excludes companies whose products have a negative social or environmental impact. These include producers of alcohol, tobacco, gambling, adult entertainment, genetically modified organisms, nuclear power and weapons. The returns are reinvested.
Name: iShares $ Corp Bond ESG UCITS ETF USD (Acc)
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Source: Xetra
IMF Staff Country Report-Italy: Financial System Stability Assessment
March 20, 2020--Summary:
Substantial progress has been made in recent years in strengthening the financial sector, but important weaknesses remain. Bank capitalization and asset quality have improved considerably but are still below the EU average and the financial sector has large exposures to the Italian sovereign.
view the IMF Staff Country Report-Italy: Financial System Stability Assessment
Source: IMF
UBS and BlackRock partner on new development bank debt ETF
February 18, 2020--iShares product will offer UBS wealth clients exposure to high-quality debt with a focus on advancing the United Nations Sustainable Development Goals (UN SDGs)
UBS, the world's leading global wealth manager, has partnered with BlackRock on the launch of a new exchange-traded fund (ETF) investing in multilateral development bank (MDB) debt.
The ETF will be included in certain UBS Global Wealth Management (GWM) mandates and offered on GWM platforms as an alternative to traditional high-quality fixed income investments such as government bonds. MDB debt offers strong-often AAA-credit ratings, high liquidity, and a higher yield than US Treasuries. The funds raised by MDB debt are also focused on advancing the UN SDGs.
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Source: marketscreener.com
New iShares ETF on Xetra: short-term corporate bonds with a focus on sustainability
March 18, 2020--Since Wednesday, a new Exchange Traded Fund issued by iShares has been tradable on Xetra and the Frankfurt Stock Exchange.
With the iShares € Ultrashort Bond ESG UCITS ETF EUR (Dist), investors can invest in short-term fixed and floating rate corporate bonds.
Included are bonds issued in euros with an investment grade rating and a maximum term of three years. In addition, bonds of companies whose business activities are associated with weapons or tobacco or are not in line with the principles of the United Nations Global Compact are filtered out.
NAme: iShares € Ultrashort Bond ESG UCITS ETF EUR (Dist)
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Source: Xetra
Financial institutions team up to develop FundsDLT, a groundbreaking blockchain-based platform for the investment fund industry
March 17, 2020--Clearstream, Credit Suisse Asset Management, the Luxembourg Stock Exchange, and Natixis Investment Managers join forces to launch FundsDLT, a blockchain-based technology platform for the investment fund industry.
Clearstream, Credit Suisse Asset Management, the Luxembourg Stock Exchange, and Natixis Investment Managers have announced a Series A investment in FundsDLT to develop a novel decentralised technology platform to facilitate the distribution of funds based on distributed ledger technology (DLT). This move marks a major milestone in the evolution of FundsDLT, originally initiated and incubated by the Luxembourg Stock Exchange and its affiliate Fundsquare.
FundsDLT is built using permissioned blockchain technology based on Ethereum that ensures privacy and high performance. FundsDLT enables the reengineering of the fund distribution value chain, from front to back, covering the entire fund lifecycle.
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Source: Xetra
Crude price crash hits oil-linked exchange traded products-WisdomTree forced to close its three-times leveraged Brent and WTI oil ETPs
March 16, 2020--Saudi Arabia's decision to launch an oil price war caused carnage last week for highly leveraged exchange traded products run by WisdomTree, UBS, Société Générale and Janus Henderson.
Leveraged ETPs multiply the performance of an underlying asset and US regulators have repeatedly warned they are unsuitable for retail investors because they can generate unexpectedly large losses.
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Source: ESMA
ESMA requires net short position holders to report positions of 0.1% and above
March 16, 2020--The European Securities and Markets Authority (ESMA) has issued a decision temporarily requiring the holders of net short positions in shares traded on a European Union (EU) regulated market to notify the relevant national competent authority (NCA) if the position reaches or exceeds 0.1% of the issued share capital after the entry into force of the decision.
ESMA considers that lowering the reporting threshold is a precautionary action that, under the exceptional circumstances linked to the ongoing COVID-19 pandemic, is essential for authorities to monitor developments in markets. The measure can support more stringent action if required to ensure the orderly functioning of EU markets, financial stability and investor protection.
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Source: ESMA
Analysis of developments in EU capital flows in the global context
March 16, 2020--This report presents an overview of the recent trends of capital flows, focused especially on the past year. It provides a detailed analysis at the global level and at the European Union level.
From a global perspective, the first key takeaway from the report is that 2018 has seen the persistence of the current account imbalances of developed economies, consistent with a medium-term redistribution of global surpluses and deficits away from emerging economies that has been taking place since 2014.
While both the surpluses and the deficits of emerging economies are diminishing, a shift in the distribution of global surpluses away from China and towards oil exporters has taken place throughout 2018, mainly as a result of the increase in the price of oil over that same period. Meanwhile, the current account imbalances of developed economies continue to be polarised between the surpluses of the euro area and Japan and the deficits of the US, the UK, and a group of advanced deficit economies.
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Source: bruegel.org
Four new Credit Suisse ETFs on Xetra
March 16, 2020--Since Monday, four new exchange-traded funds issued by Credit Suisse Asset Management have been tradable on Xetra and the Börse Frankfurt.
These are ETFs focusing on US stocks and companies from industrialised countries worldwide.
For three of the four ETFs, companies are selected on the basis of sustainability criteria.
The CSIF (IE) MSCI USA Blue UCITS ETF B (USD)-Acc offers investors a direct investment in a wide range of companies from the US. The CSIF (IE) MSCI USA ESG Leaders Blue UCITS ETF B (USD)-Acc excludes US companies involved in the trading or production of alcohol, gambling, tobacco, nuclear power and weapons.
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Source: Xetra
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