Account of the monetary policy meeting of the Governing Council of the European Central Bank
February 21, 2019--Held in Frankfurt am Main on Wednesday and Thursday, 23-24 January 2019
1. Review of financial, economic and monetary developments and policy options
Financial market developments
Mr Cœuré reviewed the latest financial market developments. In the first few weeks of 2019 volatility had remained elevated across different market segments, in particular in equity and commodity markets.
Brent oil prices had declined further after the Governing Council's previous monetary policy meeting on 12-13 December 2018 but had since recovered. The volatility in oil prices was evidence of the heightened geopolitical uncertainty and its impact on oil supply, as well as concerns about the global growth outlook and its impact on oil demand.
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Source: ECB
Deutsche Borse increases transparency in ETF trading
February 21, 2019--New key indicator provides information on trading costs over the course of the trading day
Deutsche Börse is providing ETF investors with a new key indicator: The iXLM (intraday Xetra liquidity measure) provides information on how trading costs of an ETF have developed over the course of a trading day. This allows investors to deduce the period in which the trading costs of an ETF were particularly low and to take this information into account for future decisions.
The individual key indicator is available for all ETFs traded on Xetra.
Implicit trading costs amount to a significant part of the total trading costs. By taking the iXLM into account, investors can save on average up to 30 percent of these costs in ETF trading, depending on the time of day," says Stephan Kraus, responsible for the ETF segment at Deutsche Börse.
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Source: Deutsche Börse Group
Forecasts for the UK economy: February 2019
February 20, 2019--A comparison of independent forecasts for the UK economy in February 2019.
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Source: HM Treasury
EBA publishes Consumer Trends Report for 2018-19
February 20, 2019--The European Banking Authority (EBA) published today its Consumer Trends Report for 2018 and 2019. The Report covers the trends and issues related to retail banking products and services that fall within the EBA's consumer protection mandate, such as mortgages, consumer credit, deposits, payment accounts, payment services and electronic money.
The Report also provides an overview of the topical issues identified in 2018/19 that impact or may impact consumers.
The 2018/19 edition of the consumer trends Report is more extensive than previous editions as it provides a comprehensive quantitative assessment of the trends and a qualitative description of each retail banking product or service within the EBA's consumer protection scope. It also outlines the related issues and the applicable legislative and regulatory framework, including the measures the EBA has undertaken to address them.
view the EBA-EBA CONSUMER TRENDS REPORT 2018/19
Source: EBA
ETFGI reports ETFs and ETPs listed in Europe gather US$9.79 billion during January 2019
February 20, 2019--ETFGI, a leading independent research and consultancy firm covering trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Europe gathered net inflows of US$US$9.79 billion in January.
Assets invested in the European ETF/ETP industry finished the month up 6.83%, from US$767.78 billion at the end of December, to US$820.23 billion, according to ETFGI's January 2019 European ETF and ETP industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets invested in the European ETF/ETP industry rise 6.83% in January.
During January 2019, ETFs/ETPs listed in Europe attracted US$9.79 Bn in net inflows.
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Source: ETFGI
STOXX expands its thematic index offering
February 20, 2019--STOXX Ltd., the operator of Deutsche Boerse Group's index business and a global provider of innovative and tradable index concepts, has launched seven new thematic indices. They cover a broad array of themes: housing construction, industry 4.0, millennials, sharing economy, silver economy, smart cities, and smart factory.
With these new launches STOXX is now offering 16 revenue-based thematic indices.
"Thematic investing continues to attract strong capital flows as investors target disruptive megatrends with above-average growth outlooks. At STOXX we have advanced thematic investing since 2016 and are delighted to extend our thematic menu to include a variety of new concepts," said Inderpal Gujral, STOXX Head of Product.
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Source: Stoxx
WisdomTree appoints director of Research Fixed Income
February 19, 2019--WisdomTree has expanded Fixed Income Research and Strategy team with the appointment of Lidia Treiber as director of Research in Europe.
In her role, Treiber will lead the Fixed Income Research in Europe, deepening the WisdomTree's fixed income capabilities and ensuring that investors receive up-to-date, expert insight into global developments in this asset class.
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Source: investmenteurope.net
BNP Paribas launches 'socially responsible" credit ETF
February 19, 2019--The index-tracking fund looks to exclude companies based on their ESG credentials
February 19, 2019--BNP Paribas Asset Management has launched a socially responsible credit exchange-traded fund.
The company's Easy Euro Corporate Bond SRI Fossil Free UCITS ETF is designed to appeal to investors seeking low carbon exposure from around 400 investment grade bonds, which are selected on their ESG credentials.
BNP Paribas Asset Management has announced plans to further expand its index solutions products in 2019, specifically focussing on socially responsible investments and bond indices, through its "Easy" range of ETFs.
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Source: esgclarity.com
Vienna Stock Exchange calculates new CEE Blue Chip Benchmark "Eastern Europe Traded Index"
February 19, 2019--With the "Eastern Europe Traded Index" (EETX) index family Vienna Stock Exchange today launches six new indices. The EETX focuses on the 40 largest blue chips of the Russian, Central, Eastern and Southeastern European markets.
The largest stocks include Sberbank, Lukoil, Gazprom, Tatneft and Norilsk. The EETX is calculated and published as a price index, dividend index (TR) and net dividend index (NTR) in real time in EUR and USD. With this expanded offer, the Vienna Stock Exchange is responding to the demand of international market participants. Vienna Stock Exchange's index offering thus comprises of 142 indices.
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Source: Weiner Borse
ESMA supervision to focus on data, Brexit and cybersecurity in 2019
February 19, 2019--The European Securities and Markets Authority (ESMA) has published today its 2019 Supervision Work Programme, which details the main areas of focus for the upcoming year for ESMA's supervision of Trade Repositories (TRs), Credit Rating Agencies (CRAs), and the monitoring of third-country market infrastructures such as third-country central clearing counterparties (TC-CCPs) and third-country Central Securities Depositories (TC-CSDs).
ESMA currently directly supervises eight TRs and 27 CRAs. It also carries responsibility for four certified CRAs and 32 TC-CCPs.
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Source: ESMA
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