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ECB-Euro area economic and financial developments by institutional sector: second quarter of 2022
October 28, 2022--As of October 2022, quarterly financial accounts published by European Central Bank provide more detailed breakdown of other financial institutions (OFIs)
Euro area net saving decreased to €733 billion in four quarters up to second quarter of 2022, compared with €790 billion one quarter earlier
Household debt-to-income ratio declined to 95.3% in second quarter of 2022 from 95.9% one year earlier
Non-financial corporations' debt-to-GDP ratio (consolidated measure) decreased to 77.3% in second quarter of 2022 from 79.8% one year earlier
Financial Accounts for other financial institutions by subsector
As of October 2022, the quarterly financial accounts published by the European Central Bank provide a more detailed breakdown of other financial institutions (OFIs), which, after monetary financial institutions (MFIs- i.e. banks and money market funds), constitutes the second largest financial sector in the euro area. The new breakdown distinguishes other financial intermediaries, financial auxiliaries, and captive financial institutions and money lenders.
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Source: ECB
Inflation inequality in the European Union and its drivers
October 28, 2022--Headline inflation tracks the change in the price of the average household's consumption basket. It thus masks how different individuals across society are impacted differently by rising prices. Households can face different inflation rates because their spending patterns are different. For instance, while a sharp rise in the cost of fuel increases overall inflation, a household with no car will be less affected than one with a car.
The sharp rise in inflation in the European Union since mid-2021 makes it particularly important to investigate the extent to which inflation is impacting different groups of the population differently. The main objective of this database is to document how low and high-income households face different inflation rates because of the differences in their consumption patterns, and to identify the categories of expenditure driving these differences.
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Source: bruegel.org
HSBC sharpens focus on ESG with latest European ETF offering
October 27, 2022--New article eight funds comprise two value-focused products and two dedicated to small-cap companies
HSBC Asset Management is bolstering its range of exchange traded funds with an environmental, social and governance focus with four product launches.
The HSBC MSCI World Value ESG Ucits ETF and the HSBC MSCI World Small Cap ESG Ucits ETF have already listed on the London Stock Exchange.
HSBC will list the HSBC MSCI Emerging Markets Value ESG Ucits ETF and the HSBC MSCI Emerging Markets Small Cap ESG Ucits ETF on October 28 and November 7 respectively.
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Source: ft.com
ECB-Monetary developments in the euro area: September 2022
October 26, 2022--Annual growth rate of broad monetary aggregate M3 increased to 6.3% in September 2022 from 6.1% in August
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, decreased to 5.6% in September from 6.8% in August
Annual growth rate of adjusted loans to households stood at 4.4% in September, compared with 4.5% in August
Annual growth rate of adjusted loans to non-financial corporations stood at 8.9% in September, compared with 8.8% in August
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 increased to 6.3% in September 2022 from 6.1% in August, averaging 6.0% in the three months up to September. However, this increase was driven by a one-off technical factor, without which the annual growth rate of M3 would have declined to around 5.8% in September 2022.
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Source: ECB
VanEck launches new circular economy ETF
October 26, 2022-The VanEck Circular Economy UCITS ETF invests in companies that recycle or otherwise reuse resources
With the new ETF, VanEck further expands its range of impact products
Asset manager VanEck today lists the VanEck Circular Economy UCITS ETF on the London Stock Exchange
This new ETF (Exchange Traded Fund) provides access to companies that contribute to the development of resource-efficient materials, production and distribution solutions. The company is thus expanding its range of impact ETFs offered by VanEck in Europe.
"Our planet's resources are becoming increasingly stretched and the world is struggling with the waste generated by single-use products. The VanEck Circular Economy ETF provides access to companies that effectively contribute to recycling or other forms of resource efficiency," explains Martijn Rozemuller, CEO at VanEck Europe.
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Source: vaneck.com
New Active ETF from Fidelity on Xetra: access to corporate bonds worldwide with a multi-factor approach
October 26, 2022--A new exchange-traded fund issued by Fidelity has been tradable on Xetra and via Börse Frankfurt since Wednesday.
The actively managed Fidelity Sustainable Global Corporate Bond Paris Aligned Multifactor UCITS ETF invests primarily in investment grade corporate bonds from global issuers.
A multi-factor strategy combining quantitative, fundamental and sustainability characteristics is used to select corporate bonds.
The fund is oriented towards the climate targets of the Paris Agreement for reducing greenhouse gas emissions. In addition, issuers involved in controversial business activities such as tobacco, fossil fuels and weapons are excluded.
This is a currency hedged share class.
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Source: Xetra
New L&G ETFs on Xetra: companies from the Asia-Pacific region in line with the Paris Climate Agreement
October 26, 2022--Since Wednesday, two new exchange-traded funds issued by Legal & General Investment Management have been tradable on Xetra and via Börse Frankfurt.
The two new ETFs give investors access to the performance of companies that want to reduce their CO2 emissions in line with the Paris Climate Agreement.
The aim of the funds is to reduce exposure to transitional and physical climate risks while capturing opportunities arising from the transition to a lower-carbon economy.
Companies that operate in ESG-controversial business sectors are excluded.
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Source: Xetra
New thematic ETF from VanEck on Xetra: access to companies worldwide with a focus on recycling and waste management
October 26, 2022--A new exchange traded fund issued by VanEck has been tradable on Xetra and via Börse Frankfurt since Wednesday.
The VanEck Circular Economy UCITS ETF offers exposure to companies worldwide that contribute to recycling or other forms of resource efficiency.
It primarily considers companies that contribute to the circular economy.
This includes products and services in the areas of water purification and treatment, waste recycling and biofuels, waste management including (metal) recycling services. The benchmark index currently includes 30 companies from 14 different countries.
Name: VanEck Circular Economy UCITS ETF
Asset class: Equity-ETF
ISIN: IE0001J5A2T9
view New equity ETFs from HSBC on Xetra: access to value strategy and small caps
The HSBC MSCI World Small Cap ESG UCITS ETF offers exposure to developed market small cap companies. The selection is based on the best-in-class approach, which means companies with the best ESG profile from the respective sector are selected. The most strongly represented countries are the USA, Japan, and Great Britain. view more EBA publishes Report on the integration of ESG risks in the supervision of investment firms
The European Banking Authority (EBA) today published a Report on how to incorporate ESG risks in the supervision of investment firms. The Report also provides an initial assessment of how ESG factors and ESG risks could be included in the supervisory assessment of investment firms.
This Report, addressed to competent authorities, sets out the foundations for integrating ESG risks-related considerations in the supervisory process of investment firms and covers the main SREP elements including: (i) business model analysis, (ii) assessment of internal governance and risk management, and (iii) assessment of risks (risk to capital and liquidity risk).
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Source: Xetra
October 25, 2022--Two new Exchange Traded Funds issued by HSBC Asset Management have been tradable on Xetra and via the trading venue Börse Frankfurt since Tuesday.
With the HSBC MSCI World Value ESG UCITS ETF, investors can invest in companies from industrialised countries. The ETF uses a value approach for selection. Only companies that are classified as undervalued based on fundamental data are selected.
These fundamental metrics include price-to-book, price-to-earnings, and price-to-cash-flow ratios. In addition, an improved ESG score of 20 per cent compared to the main index should be achieved.
Source: Xetra
October 24, 2022--The Report provides an initial assessment of environmental, social and governance (ESG) factors and risks for the purposes of the prudential supervision of investment firms under the Investment Firms Directive (IFD).
The objective of the Report is to set the foundations for further considerations of the ESG aspects in the supervisory review and evaluation process (SREP) of investment firms.
This Report builds on and complements the EBA Report on management and supervision of ESG risks for credit institutions and investment firms published in June 2021.
Source: EBA.europa.eu