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Euro zone banks have too much cash for their own good
August 30, 2016--Excess liquidity to hit 1 trillion euros for first time
Negative deposit rate has cost banks 2.6 bln euros.
Depositors face higher fees, charges
In the strange days of negative interest rates, having one trillion euros ($1.13 trillion) more than you need can be a drag.
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Source: Reuters
ESMA sees risk outlook deteriorate for EU securities markets
August 30, 2016--The European Securities and Markets Authority (ESMA) latest risk report has found that the overall assessment of risk levels in EU markets under its remit remains unchanged.
Market and credit risks remain very high-the highest level-while liquidity and contagion risk remain high.
The risk outlook has deteriorated following the result of the UK referendum on EU membership. Market, liquidity and contagion risks may increase going forward, as political and event risks have intensified, and the macroeconomic environment may deteriorate. view more
view ESMA Risk Dashboard No.3, 2016
Source: ESMA
ESMA Report on Trends, Risks and Vulnerabilities
August 30, 2016--ESMA has published the Report on Trends, Risks and Vulnerabilities No.2, 2016 report
view report
Source: ESMA
Monetary developments in the euro area: July 2016
August 26, 2016--The annual growth rate of the broad monetary aggregate M3 decreased to 4.8% in July 2016, from 5.0% in June.
The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, decreased to 8.4% in July, from 8.7% in June.
The annual growth rate of loans to households stood at 1.8% in July, unchanged from the previous month.
The annual growth rate of loans to non-financial corporations increased to 1.9% in July, from 1.7% in June.
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Source: ECB
UK resists expansive view of Mifid II position limits
August 25, 2016--FCA suggests limits shouldn't apply to OTC trades between non-EU entities.
UK regulators tasked with implementing the European Union's position limits regime for commodity derivatives have said the limits should not apply to over-the-counter trades executed outside the EU, disappointing advocates of the legislation who had envisioned a broad, extraterritorial reach for the limits regime.
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Source: risk.net
French support for the EU project is crumbling on the Left and Right
August 25, 2016--The drama of Brexit may soon be matched or eclipsed by crystallizing events in France, where the Long Slump is at last taking its political toll.
A democracy can endure deflation policies for only so long. The attrition has wasted the French centre-right and the centre-left by turns, and now threatens the Fifth Republic itself.
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Source: The Telegraph
Lyxor ETF Research: ADDITIONAL UNCERTAINTIES LOOMING AHEAD
August 25, 2016--Last week, market tensions eased markedly. The FTSE 100 rallied above pre24th June levels despite a fall in GBP (FTSE 100 is up 5% in June).
US and EM equities are flat to slightly up. EMU equities are the biggest loser (5% in June). Brexit continues to send shockwaves through UK's political landscape, with Boris Johnson pulling out from his bid to be prime minister and the launch of a rival bid by his former ally Michael Gove. Theresa May, UK home secretary, also launched her campaign and bookmakers cited her as the favorite to succeed David Cameron. Results are due on September 9th, leaving the market with high uncertainties until then.
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Source: Lyxor
ITG investment yields new trading desks in Europe
August 24, 2016--New accounts show the US agency broker ITG has been busy investing in its European operations since its most profitable year in 2014.
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Source: Financial News
BNP Paribas Investment Partners appoints Claus Hecher as Head of Business Development
August 24, 2016-BNP Paribas Investment Partners announces the appointment of Claus Hecher as Head of Business Development for Germany, Austria and the German-speaking regions of Switzerland, as it continues to strengthen its indexed fund and ETF business in Europe.
Claus takes up his new role on 1 September and will report to Isabelle Bourcier, who joined BNP Paribas Investment Partners in June as Head of ETF and Indexed Fund Activities.
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Source: financialit.net/
Eurozone Expansion Hits 7-Month High in August
August 23, 2016--The euro area economy continues to grow in August, rate of expansion hitting a seven month high, a preliminary survey released Tuesday showed.
The flash Markit Eurozone Composite PMI survey edged higher to 53.3 in August, up from July's 53.2.
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Source: MNI