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ECB-Monetary developments in the euro area: October 2023
November 28, 2023--Annual growth rate of broad monetary aggregate M3 was -1.0% in October 2023, compared with -1.2% in September
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, stood at -10.0% in October, compared with -9.9% in September
Annual growth rate of adjusted loans to households decreased to 0.6% in October from 0.8% in September
Annual growth rate of adjusted loans to non-financial corporations decreased to -0.3% in October from 0.2% in September
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 was -1.0% in October 2023, compared with -1.2% in September, averaging -1.2% in the three months up to October. 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 -10.0% in October, compared with -9.9% in September
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Source: ECB
ECB-Meeting of 25-26 October 2023 Account of the monetary policy meeting of the Governing Council of the European Central Bank
November 23, 2023--Held in Athens on Wednesday and Thursday, 25-26 October 2023
1. Review of financial, economic and monetary developments and policy options
Financial market developments
Ms Schnabel started her presentation by noting that the market's immediate response to the dramatic geopolitical upheaval in the Middle East, following the terrorist attacks on Israel on 7 October 2023, had so far been contained.
Bolstered by continued robust economic growth in the United States, the surge in global long-term bond yields that started over the summer had continued in recent weeks, as investors were increasingly internalising the prospect of interest rates staying high for longer. At the same time, expectations for the future path of short-term interest rates had remained broadly unchanged.
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Source: ECB
New equity ETFs from SPDR on Xetra: access to information technology and healthcare companies worldwide
November 20, 2023--Since Monday, two new exchange-traded funds issued by State Street Global Advisors have been tradable on Xetra and via the trading venue Börse Frankfurt.
The two ETFs give investors access to large and mid-cap companies from developed countries around the world that are either in information technology or healthcare. The maximum weighting of one issuer is 35 per cent and all other companies 20 per cent.
The SPDR MSCI World Technology UCITS ETF invests in information technology companies, which include hardware, storage and peripherals, systems software and semiconductors, and are the most represented at over 20 per cent each.
The SPDR MSCI World Health Care UCITS ETF focuses on healthcare companies. The most strongly represented business areas include pharmaceuticals, healthcare equipment, biotechnology and managed health care.
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Source: Xetra
ECB-Euro area investment fund statistics: third quarter of 2023
November 17, 2023--This release on investment fund statistics is being discontinued. As of November 2023, investment fund statistics are published on a dedicated page on the ECB's website, which features comprehensive charts containing the information previously available in this release.
In third quarter of 2023, outstanding amount of shares/units issued by investment funds other than money market funds fell to €15,207 billion, down €92 billion on previous quarter
Net redemptions in quarter amounted to €15 billion, with €852 billion in gross issuances and €867 billion in gross redemptions
Outstanding amount of shares/units issued by money market funds rose to €1,563 billion, up €56 billion on previous quarter
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Source: ECB
New equity ETF from UBS on Xetra: access to UK companies with currency hedging
November 17, 2023--Since Friday, a new exchange-traded fund issued by UBS Asset Management has been tradable on Xetra and the trading venue Börse Frankfurt.
The UBS (LU) MSCI United Kingdom UCITS ETF (hedged to EUR) allows investors to invest in a portfolio of UK large-and mid-cap companies.
The underlying benchmark index currently includes 83 companies from various industries, with consumer goods, financial services, energy, and healthcare being the most represented. The three largest companies are Shell, AstraZeneca and HSBC Holdings.
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Source: Xetra
Forecasts for the UK economy: November 2023
November 15, 2023--A comparison of independent forecasts for the UK economy in November 2023.
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Source: gov.uk
New equity ETF from Invesco on Xetra: access to the stock performance of the Nasdaq 100 index
November 14, 2023--Since Tuesday, a new exchange-traded fund issued by Invesco has been tradable on Xetra and via the trading venue Börse Frankfurt.
The Invesco NASDAQ-100 Swap UCITS ETF offers investors the opportunity to participate in the performance of the 100 largest U.S. and international non-financial companies by market capitalisation that are traded on the NASDAQ stock exchange.
The underlying benchmark index, the NASDAQ-100, contains companies from major industries, including computer hardware and software, telecommunications, retail and wholesale, and healthcare. The three largest companies include Apple, Microsoft, and Amazon.
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Source: Xetra
ESMA publishes latest edition of its newsletter
November 8, 2023--The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter.
Your one-stop-shop in the world of EU financial markets focused in October on the preparations for a smooth transition to the Markets in Crypto-Assets Regulation (MiCA) and the expectations from entities providing cryptos and from national authorities.
ESMA Chair, Verena Ross, called on Member States to designate without delay the competent authorities responsible for carrying out the functions and duties provided for under MiCA, and to consider limiting the optional grand-fathering period to 12-months should they choose to offer it in their jurisdictions.
In addition, ESMA, together with the European Banking Authority, published a Consultation Paper on two sets of joint guidelines under MiCA.
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Source: ESMA
New Xtrackers ETFs from DWS reduce investment risks caused by the loss of biodiversity
November 6, 2023--DWS is expanding its range of sustainable investment products with three new Xtrackers ETFs. The listed index funds offer investors the opportunity to invest in companies in Europe, the US and worldwide that have a lower negative impact on the earth's ecosystems than the market average.
The Xtrackers Biodiversity Focus SRI UCITS ETFs for the US investment region and the global equity market were listed on the London Stock Exchange today, following the listing of all three ETFs on the Frankfurt Stock Exchange on 3 November.
Biodiversity, the diversity of life on earth, is of great importance not only from an ecological but also from an economic perspective. Studies estimate the global value of ecosystem services- i.e. the benefits that people derive from nature-at between USD 125 and 140 trillion per year.[1] The World Economic Forum predicts that the loss of biodiversity will have the third largest negative impact on humanity in the next ten years after climate change and extreme weather.[2]
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Source: dws.com
ECB-Euro area bank interest rate statistics: September 2023
November 2, 2023--Composite cost-of-borrowing indicator for new loans to corporations increased by 10 basis points to 5.09%; indicator for new loans to households for house purchase increased by 4 basis points to 3.89%, both driven by interest rate effect
Composite interest rate for new deposits with agreed maturity from corporations increased by 15 basis points to 3.58%; interest rate for overnight deposits from corporations increased by 10 basis points to 0.75%, both driven by interest rate effect
Composite interest rate for new deposits with agreed maturity from households increased by 4 basis points to 3.08%, driven by interest rate effect; interest rate for overnight deposits from households broadly unchanged at 0.33%
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Source: ECB