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Basel Committee issues consultative document on measuring and controlling large exposures
March 26, 2013--The Basel Committee on Banking Supervision has today published a proposed supervisory framework for measuring and controlling large exposures.
The Basel Committee on Banking Supervision has today published a proposed supervisory framework for measuring and controlling large exposures. The proposed new standard aims to ensure greater consistency in the way banks and supervisors measure, aggregate and control exposures to single counterparties. Acting as a backstop to risk-based capital requirements, the standard would supplement the existing risk-based capital framework by protecting banks from substantive losses caused by the sudden default of a counterparty or group of connected counterparties. The consultative paper published today would replace the Basel Committee's 1991 guidance Measuring and controlling large credit exposures.
FCA business plan and risk outlook published
March 25, 2013--The Financial Services Authority (FSA) has published the business plan and risk outlook for the Financial Conduct Authority (FCA) for 2013/14. The FSA will be replaced by the FCA and the Prudential Regulation Authority (PRA) on 1 April 2013.
The risk outlook sets out the challenging economic backdrop as well as outlining how the FCA will assess market conditions and identify future risks. Many of these are complex and will require several years’ focus.
The business plan sets out how these risks will be managed in the first year and how the FCA will use its resources effectively to meet its objectives, which are:
To secure an appropriate degree of protection for consumers.
To protect and enhance the integrity of the UK financial system.
To promote effective competition in the interests of consumers.
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Source: FSA.gov.uk
New gold ETC from ETF Securities launched on Xetra
ETC hedged against daily exchange rate fluctuation
March 21, 2013--
A new ETC (exchange traded commodity) issued by ETFS Hedged Metal Securities Limited has been tradable on Xetra since Thursday.
ETC name: ETFS EUR Daily Hedged Physical Gold
Asset class: Commodities
ISIN: DE000A1RX996
Management fee: 0.39 percent
Benchmark: MS Long Gold Euro Hedged Index
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Source: Xetra/FWB
German strength propels Dax near record
March 20, 2013--Until the Cyprus crisis erupted this week, it looked like third time lucky for the Dax share price index.
Germany’s benchmark share index last week broke through the 8,000 mark – a level where it has stalled twice before, during the dotcom boom and on the eve of the financial crisis. It broke through 8,000 again on Wednesday.
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Source: FT.com
ESMA publishes Q&As on EMIR implementation
March 20, 2013--The European Securities and Markets Authority (ESMA) has published a set of Questions and Answers in order to promote common supervisory approaches and practices in the application of EMIR across the European Union.
The paper provides responses to questions posed by the general public, market participants and competent authorities in relation to the practical application of EMIR. The content is aimed at competent authorities to ensure that their supervisory activities are converging along the lines set out in ESMA’s responses. It should also help investors and other market participants by providing clarity on EMIR’s requirements.
view the ESMA Q&As on EMIR implementation
Source: ESMA
Euro area investment fund statistics-January 2013
March 20, 2013--In January 2013, the amount outstanding of shares/units issued by euro area investment funds other than money market funds was €.62 billion higher than in December 2012. This increase was due mainly to net issues of shares/units.
The amount outstanding of shares/units issued by euro area investment funds other than
money market funds increased to €.6,622 billion in January 2013, from € €.6,560 billion in December
2012. Over the same period, the amount outstanding of shares/units issued by euro area money market
funds decreased to €.895 billion, from €.911 billion.
Transactions1 in shares/units issued by euro area investment funds other than money market funds amounted to €.54 billion in January 2013, while transactions in shares/units issued by money market funds amounted to minus €.3 billion.
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Source: ECB
The Spanish Stock Exchange trades the first ETF on spanish sovereign Debt
The trading volume on the ETF segment to the end of February reached €563 million, up 70% from the same period last year
March 19, 2013-The Spanish Stock Exchange today started the trading of one new exchange-traded fund (ETF) issued by LYXOR, Société Generale's asset manager: the ETF is called Lyxor ETF MTS Spain Government Bond All Maturity.
The new ETF tracks the performance of the MTS Spain Government Index (All maturity), which comprises Spanish sovereign debt securities with over one-year maturities, issued by the Spanish Government.
This issue brings the number of ETFs listed on the Spanish Stock Exchange to 70. Société Générale in Spain will act as the specialist intermediary throughout the trading session.
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Source: Bolsas y Mercados Españoles
The Government's response to the Heseltine Review
March 18, 2013--The Government has today published its formal response to Lord Heseltine’s comprehensive report, No Stone Unturned.
Lord Heseltine made 89 wide-ranging recommendations to the Government, across areas of public policy that affect economic growth. Today, the Government announced it is accepting the overwhelming majority of these recommendations and setting out how the Government is addressing the priorities Lord Heseltine identified, equipping the UK to compete and thrive in the global race.
view the No stone unturned:Chamber of Commerce
International Comparisons
Source: HM Treasury
The EMIR regulation enters into force today
March 15, 2013--ESMA has published an information page on EMIR, where you will find the key documents and information about the regulation.
view information page on EMIR
Source: ESMA
ESMA publishes guidelines on interoperability arrangements
March 15, 2013--These Guidelines and Recommendations set out ESMA's view of how Union law should be applied in a particular area, or of appropriate supervisory practices within the European System of Financial Supervision.
ESMA expects all relevant national competent authorities (NCAs) to comply with these Guidelines and Recommendations.
This final report also contains feedback received from ESMA’s December 2012 consultation and subsequent changes to the draft Guidelines and Recommendations made by ESMA. For each section, a reference is made to the relevant Article in EMIR.
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Source: ESMA
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