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Banks eye synthetic securitisation to smooth IFRS 9 loan-loss volatility
November 20, 2017--New structures would help mitigate estimated 44% increase in loan-loss provisions from revised accounting framework
Dealers are putting a new twist on old-school risk transfer trades in a bid to reduce the sharp capital swings they expect to encounter under new accounting standards....
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Source: Risk.net
Euro area investment fund statistics: third quarter of 2017
November 20, 2017--In the third quarter of 2017 the outstanding amount of shares/units issued by investment funds
other than money market funds was €10,921 billion, which is €269 billion higher than in the second quarter of 2017.
Investment funds other than money market funds increased their holdings of both equity and
debt securities issued by the rest of the world. The holdings of both equity and debt securities
issued by euro area residents also increased.
Bond funds registered an inflow of €80 billion in the third quarter of 2017, while mixed funds experienced an inflow of €60 billion.
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Source: ECB
Royal Bank of Scotland to launch robo-advice under NatWest brand
November 17, 2017--Automated online service is aimed at customers who lack confidence to invest alone
Royal Bank of Scotland is launching robo-advice for more than 5m customers as banks return to the investment market after a string of fines and as regulators attempt to plug the UK's wide "advice gap".
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Source: FT.com
ESMA updates Q&A on CSDR implementation
November 17, 2017--The Securities and Markets Authority (ESMA) has published today an update of its Questions and Answers (Q&As) regarding the implementation of the Central Securities Depository Regulation (CSDR).
The CSDR Q&As provide common answers to question regarding practical issues on the implementation of the new CSDR regime. This update provides detailed answers regarding certain aspects of:
Relevant authorities;
Conduct of business rules;
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Source: ESMA
ESMA consults on calculation of derivative positions
November 17, 2017--The European Securities and Markets Authority (ESMA) has today published for public consultation future guidelines on the calculation of derivative positions by trade repositories (TRs) authorised in the European Union under the European Market Infrastructure Regulation (EMIR).
ESMA supervises the way TRs make data available to public authorities.
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Source: ESMA
New ETF Listing on Euronext-2 BNP Paibas ETFs
November 17, 2017--Euronext is pleased to announce that BNP PARIBAS EASY will list 2 new ETFs on 21/11/2017:
ISIN: LU1659681669
ETF Trading name: BNPP EASY KLDUSETF
ETF Symbol: EKUS
Venue: Euronext Paris
Underlying index: MSCI KLD 400 Social (NTR)
TER (%): 0,3
ISIN: LU1659681313
ETF Trading name: BNPP EASY EMSRIETF
ETF Symbol: EISR
Venue: Euronext Paris
Underlying index: MSCI Emerging Markets SRI (NTR)
TER (%): 0,45
Euronext now offers 786 Trackers listed on the European markets.
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Source: Euronext
IMF Working Papers-Credit Growth and Economic Recovery in Europe After the Global Financial Crisis
November 17, 2017--Summary:
This paper reviews the empirical relationships between credit growth, economic recovery, and bank profitability in Europe after the global financial crisis (GFC).
We find that the post-GFC recoveries in Europe have been weaker than previous recoveries, with the "double-dip" recessions in 2011-12 in many countries and the worldwide reach of the GFC explaining the underperformance.
Bank lending has been subdued as well, but this appears to have only held back the recovery relatively moderately. A 10 percent increase in bank credit to the private sector is associated with a rise of 0.6-1 percent in real GDP and 2-2½ percent in real private investment. These relationships have not changed significantly during and after the GFC. Loan quality, customer deposits, bank equity price index, and bank capital appear to be closely linked to bank lending. As expected, bank profitability is positively and significantly influenced by credit growth, but this relationship has weakened after the GFC.
view the IMF Working Paper-Credit Growth and Economic Recovery in Europe After the Global Financial Crisis
Source: IMF
IMF Country Report-Sweden: Selected Issues
November 17, 2017--HIGH HOUSEHOLD SAVINGS IN SWEDEN1
A. Introduction
1. Boosted by a large increase in savings after the global financial crisis, Swedish
households save at one of the highest rates among advanced economies. The gross household
saving rate averaged some 17 percent since the global financial crisis, increasing by 7.5 percentage
points over its pre-crisis level-a much stronger increase than seen in any other advanced
economy.2
Saving rates can differ from country to country even if the underlying consumption and
saving patterns of households are similar,3 but the very sharp increase in the level of savings sets Sweden apart.
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Source: IMF
IMF Staff Concludes Visit to Russia
November 17, 2017--"A cyclical recovery in Russia is gaining pace after a two-year recession, with growth expected to reach around 2 percent this year, supported by higher oil prices and easier domestic financial conditions.
Nevertheless, growth is likely to remain low in the medium-term, due to demographics, unaddressed structural bottlenecks as well as enduring sanctions.
Inflation is likely to be just under 3 percent at end-2017, but it is expected to return to around the 4 percent target soon thereafter. The current account surplus is forecasted to improve due to higher oil prices and stronger global demand.
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Source: IMF
Theodor Weimer appointed as new CEO of Deutsche Borse AG
November 16, 2017--Theodor Weimer has been appointed for three years as new Chief Executive Officer at today's meeting of the Supervisory Board of Deutsche Börse AG. In January, 57-year-old Weimer will take over from CEO Carsten Kengeter who leaves the company at the end of 2017.
Weimer is currently spokesman of the Management Board of HypoVereinsbank-UniCredit Bank AG (Munich).
Weimer studied economics, business administration and geography in Tübingen and St. Gallen and did his doctorate at the University of Bonn.
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Source: Deutsche Börse Cash Market
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