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European Supervisory Authorities highlight cross-sectoral risks
September 5, 2013--The Joint Committee of the European Supervisory Authorities (ESAs) has published its second bi-annual Report on Risks and Vulnerabilities in the European Union's (EU) Financial System.
The Report has identified the following key cross-sectoral risks to the stability of the European financial system:
the weak macro-economic outlook;
the protracted low-interest rate environment;
EU financial sector fragmentation; and
reduced confidence in balance sheet valuations and risk disclosures.
These risks, already highlighted in the first Joint Committee's Risk Report published in April this year, have increasingly been brought into focus following a series of developments that took place since then. In particular, increased volatility in longer-term interest rates and concerns about the future path of interest rates-combined with the current low interest rate environment- created uncertainty for financial institutions in their hedging and impacted profitability.
view the Report on Risks and Vulnerabilities in the European Union's (EU) Financial System
Source: EBA
Boost Silver 3x Leverage Daily ETP (Ticker: 3SIL) the top performing ETF on the LSE in August as silver ETF flows turn positive
September 5, 2013--Boost Silver 3x Leverage Daily ETP '3SIL' was the best performing ETF listed on the LSE in August, with a 65.6% return
Gold and silver were the top performing assets after experiencing significant price falls for the first half of the year
Flows into silver ETPs turned positive since 1 July however net flows into gold ETPs remains negative
Boost ETP offers the largest range of Short and Leverage gold and silver ETFs in Europe with 9 different gold and silver ETFs
Boost ETP, the award winning and independent exchange-traded product (ETP) provider, is proud to announce that Boost Silver 3x Leverage Daily ETP (3SIL) was the top performing Exchange Traded Fund (ETF) listed on the London Stock Exchange (LSE) in August. Boost Silver 2x Leverage Daily ETP (2SIL) was the 2nd top performer:
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Source: BOOST
UK Official holdings of international reserves, August 2013
September 4, 2013--This monthly press notice shows details of movements in August in the UK's official holdings of international reserves, which consist of gold, foreign currency assets and International Monetary Fund assets.
These reserves are maintained primarily so that the UK Government's reserves could be used to intervene to support Sterling, or the Bank of England's reserves could be used to support the Bank's monetary policy objectives. If such interventions were to occur, then they would be shown and explained in this release. The Background note at the end of this release explains more about the reserves, and about these statistics.
In summary this month’s release shows that, in August 2013:
No intervention operations were undertaken.
Movements in reserves and levels of reserves were as follows:
view the UK Official holdings of international reserves, August 2013
Source: HM Treasury
European Commission-New rules for Money Market Funds proposed-FAQs
September 4, 2013--1. What is a Money Market Fund?
A Money Market Fund (MMF) is a mutual fund that invests in short-term debt such as money market instruments issued by banks, governments or corporations. Money market instruments traditionally include treasury bills, commercial paper or certificates of deposit.
The above-mentioned financial instruments are eligible for an MMF as long as their residual maturity does not exceed 397 days (short-term MMF) or two years (standard MMF). MMFs can be denominated in any particular currency; those domiciled in Europe mostly invest in debt denominated in euro, pound sterling or US dollar.
What is a constant value MMF?
A constant net asset value (CNAV) MMF is a fund that, unlike other mutual funds, seeks to maintain a stable €1 per share when investors redeem or purchase shares. The net value of the assets held by an MMF can, however, fluctuate, and the market value of a share may therefore not always be exactly €1. To avoid a fluctuating share value, a CNAV MMF uses amortised costs to value its assets.
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Source: European Commission
Second estimate for the second quarter of 2013-Euro area GDP up by 0.3% and EU27 up by 0.4%
-0.5% and 0.0% respectively compared with the second quarter of 2012
September 4, 2013--GDP rose by 0.3% in the euro area1 (EA17) and by 0.4% in the EU271 during the second quarter of 2013, compared with the previous quarter, according to second estimates2 published by Eurostat, the statistical office of the European Union.
In the first quarter of 2013, growth rates were -0.2% and -0.1% respectively.
Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.5% in the euro area and
remained stable in the EU27 in the second quarter of 2013, after -1.0% and -0.7% respectively in the previous
quarter.
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Source:Eurostat
Europe ETP delistings continue amid trading slump
September 4, 2013--Providers of exchange-traded products delisted a host of products in Europe during August, as factors including the escalating conflict in Syria weighed on daily trading activity.
A total of 82 ETPs were delisted from European exchanges last month, according to consultancy ETFGI, taking the total number of delistings in Europe this year to 315.
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Source: Financial News
Osram Licht AG, Evonik Industries AG and RTL Group to be included in MDAX
Deutsche Börse reviews index composition/Changes are effective on 23 September 2013
September 4, 2013--On Wednesday Deutsche Börse decided on changes in its selection indices which will become effective on 23 September 2013.
The following changes will be made to MDAX: The shares of Osram Licht AG, Evonik Industries AG and RTL Group will be included in the index. The shares of BayWa AG, Puma SE and SGL Carbon will be deleted from the index.
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Source: Deutsche Börse
NYSE Euronext-New ETN Listing-FI Enhanced Europe 50 ETN
September 4, 2013--NYSE Euronext (NYSE:NYX) is pleased to announce that on Friday, September 06, 2013, the following ETN will be listed on NYSE Arca and will begin trading as a new issue:
Security Name: FI Enhanced Europe 50 ETN
Short Name: CS FI Enh Europe 50 ETN
CUSIP: 22542D100
Maturity Date: 9/10/2018
Trading Symbol:FIEU
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Source: NYSE Euronext
Trading volume at Boerse Stuttgart around EUR 6.5 billion in August
Increase in trading in securitised derivatives // investment fund units in high demand
September 3, 2013--Boerse Stuttgart generated turnover of around EUR 6.5 billion in August 2013, according to its order book statistics.
Trading volumes were slightly lower than in July. At more than EUR 3.1 billion, securitised derivatives accounted for the largest share of the turnover, up around 7 percent on the previous month. Turnover in investment products was up more than 8 percent to over EUR 1.9 billion. There was a particularly sharp increase in the trading volume of bonus certificates, which was up by more than 25 percent compared with July. Leverage products accounted for more than EUR 1.2 billion of the total August turnover.
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Source: Boerse Stuttgart
Shadow Banking-Addressing New Sources of Risk in the Financial Sector- European Commission
September 3, 2013--Introduction
Since the financial crisis began in 2007/2008, the European Commission has undertaken the biggest reform of financial services ever seen in Europe. The aim is to restore sustainable
health and stability to this sector by addressing the shortcomings and weaknesses highlighted by the crisis.
The Commission's approach consists of tackling all financial risks, globally and comprehensively, and ensuring that the benefits achieved by strengthening certain actors and,markets are not diminished by financial risks moving to less highly regulated sectors. Such
regulatory arbitrage would greatly undermine the impact of the reforms.
The Commission has therefore published a Green Paper on shadow banking in March 20121, with a view to gathering input on how best to tackle risks stemming from credit intermediation that involves entities and activities outside the regular banking system.
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Source: European Commission
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