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British muni-debt agency plans wide range of instruments
May 28, 2015--The recently created Municipal Bonds Agency plans to bring myriad instruments to the market as it raises money for local governments in Britain.
"In due course, we could absolutely do inflation linkers, Shariah-compliant paper, private placements and public bonds," CEO Aidan Brady said.
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Source: SmartBrief
Deutsche Börse welcomes Van Eck Global as new ETF issuer
ETFs based on global companies in the gold mining industry
May 27, 2015--Two exchange-listed index funds from the new issuer Van Eck Global are tradable on Xetra and Börse Frankfurt from Wednesday for the first time.
Investors can choose between two Market Vectors ETFs that enable access to global gold mining companies.
Name: Market Vectors Gold Miners UCITS ETF
Asset class: equity index ETF
ISIN: IE00BQQP9F84
Total expense ratio: 0.55 percent
Distribution policy: accumulating
Benchmark: NYSE Arca Gold Miners Index
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Source: Xetra
New ETF Listing on Euronext
May 27, 2015--Euronext is pleased to announce that Amundi will list 3 new ETFs on 29/05/2015:
ISIN: FR0012688299
ETF Trading name: AMUNDI JPNK EUR HD
ETF Symbol: JPHE
Venue: Euronext Paris
Underlying index: JPX-Nikkei 400 Daily EUR Hedged
TER (%): 0,18
ISIN: FR0012688281
ETF Trading name: AMUNDI JPNK USD HD
ETF Symbol: JPHU
Venue: Euronext Paris
Underlying index: JPX-Nikkei 400 Daily USD Hedged
TER (%): 0,18
ISIN: FR0012688273
ETF Trading name: AMUNDI JPNK GBP HD
ETF Symbol: JPHG
Venue: Euronext Paris
Underlying index: JPX-Nikkei 400 Daily GBP Hedged
TER (%): 0,18
Euronext now offers 641 ETFs listed on the European markets.
Source: Euronext
IMF Executive Board Concludes 2015 Article IV Consultation with Switzerland
May 27, 2015--On May 18, 2015, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Switzerland.
Switzerland's economy has performed relatively well in the aftermath of the global financial crisis, with growth reaching 2 percent in 2014.
However, the economic environment became more complicated in late 2014, as increased capital inflows forced the Swiss National Bank (SNB) to start intervening heavily to defend its exchange rate floor of 1.20 francs per euro. The SNB eventually exited the floor on January 15, 2015, while also cutting its policy rate (the interest rate on deposits at the SNB exceeding 20 times required reserves) to -0.75 percent. Following these moves, the exchange rate appreciated substantially before stabilizing at around 1.05 francs per euro.
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Source: IMF
Amundi launches floating rate notes ETF
May 27, 2015--Amundi has launched the first ETF in Europe exposed to USD denominated floating rate notes.
This fund aims to protect portfolios from interest rate moves.
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Source: Investment Europe
EU vote sends draft law to rein in bank risks back to drawing board
May 26, 2015--A panel of European Union lawmakers narrowly rejected a draft law aimed at curbing trading risks at banks after they failed to bridge a deep divide between the main parties.
The European Parliament's economic affairs committee voted to reject the draft law on bank structural reform by 30 votes to 29 in a relatively rare move.
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Source: Reuters
Negative Rates in Europe Prompt Demand for Investment Safeguards
May 26, 2015--Credit markets in Europe are so distorted that investors are demanding assurances they won't have to pay borrowers for lending money after key benchmark interest rates turned negative.
Debt issuers from Volkswagen AG to a subsidiary of Rabobank are inserting clauses into their deal documents to protect creditors from having to pay if rates on their investments fall below zero.
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Source: Bloomberg
BlackRock boosts headcount in Europe as profits soar
May 26, 2015--BlackRock increased headcount in Europe by 13 per cent to 2,632 last year as the firm saw assets under management and profits soar.
According to accounts filed yesterday, BlackRock Investment Management UK, the US giant's main European arm, added 300 staff in 2014.
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Source: FT.com
EBA publishes guidelines on triggers for resolution
May 26, 2015--The European Banking Authority (EBA) published today its final Guidelines on the circumstances under which an institution shall be considered as 'failing or likely to fail' (triggers for resolution).
These Guidelines aim at promoting convergence of EU supervisory and resolution practices in relation to how resolution should be triggered.
Determining whether an institution is failing or likely to fail is the necessary element to start any resolution process as it represents one of the three cumulative conditions for triggering resolution.
Newly Launched STOXX International Eexposure Indices Licensed to Source
May 25, 2015--STOXX Limited, a leading provider of innovative, tradable and global index concepts, today announced the launch of the STOXX International Exposure Indices.
The new indices provide exposure to companies that generate a substantial portion of their revenue outside their home region, allowing market participants to express views on those companies that are well positioned to profit from currency depreciation and higher growth in non-domestic markets.
The EURO STOXX International Exposure and STOXX Japan International Exposure indices have been licensed to Source, one of Europe's largest issuers of ETFs, and the initial fund launches are expected in June 2015.
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Source: STOXX
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