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Fragmentation risk in the euro area: no easy way out for the European Central Bank
June 8, 2022--This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 20 June 2022.
The ECB is about to enter the tightening part of the monetary policy cycle.
Unlike in the easing part of the cycle, when the two objectives of monetary and financial stability are generally jointly served by the same policy, ECB policy interest rates hikes to tame inflation pose a risk of financial fragmentation in the euro area. Some countries might experience a significant widening of their spreads not necessarily driven by fundamentals. This fragmentation could put a strain on the ability of those countries to borrow.
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Source: bruegel.org
New HANetf-ETC on Xetra: for the first-time direct access to EU CO2 emission certificates
June 7, 2022-Since Tuesday, a new exchange-traded commodity issued by HANetf in cooperation with SparkChange is tradable on Xetra and via Börse Frankfurt.
The Spark Change Physical Carbon EUA ETC offers investors direct access to carbon dioxide emission certificates of the European Union (EUA) for the first-time by replicating the spot price of physical emission certificates. The ETC is physically hedged by holding the emission allowances.
Emissions allowance trading serves as an instrument to mitigate climate change and is used to reduce greenhouse gas emissions. Companies that emit carbon dioxide (CO2) must hold certificates equal to their emissions by obtaining them directly from the EU or buying them from other companies. The number of emission certificates emitted by the EU is limited.
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Source: Xetra
UK official holdings of international reserves: May 2022
June 7, 2022--This release details movements in the international reserves of gold and assets held by the UK government.
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Source: gov.uk
ESMA publishes latest edition of its Newsletter
June 7, 2022--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today published its latest edition of its Spotlight on Markets Newsletter.
Your one-stop-shop in the world of EU financial markets focused in May on two Ukraine-related statements-one of them on the implications of Russia's invasion of Ukraine on...
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Source: ESMA
The Spanish stock market trades 32 billion euros in May
June 1, 2022--The equity trading volume in May was up 11.1% from the preceding month and 9.2% higher year on year
Fixed-income trading in May amounted to 25 billion, up 19.9% from April.
As regards Stock Derivatives trading in Futures contracts increased 18.6% and 73.5% in Option contracts compared to the same period a year earlier
The Spanish stock market traded 32 billion euros in Equities in May, 11.1% from the preceding month and 9.2% higher year on year. The number of trades in May was 3.5 million, a decrease of 18.3% from the same period last year and down 5.8% compared to April.
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Source: bolsabilbao.es
Boerse Stuttgart Records May Turnover Of Around EUR 7,3 Billion
June 1, 2022--Securitised Derivatives Show Increase In Trading Volume Compared To The Same Month Of The Previous Year
Based on the order book statistics, Boerse Stuttgart generated turnover of around EUR 7,3 billion in May.
Securitised derivatives made up the largest share of the turnover.
The trading volume in this asset class increased over 6 percent compared to the same month of the previous year to around EUR 3,4 billion. Leverage products generated turnover of over EUR 2,5 billion. Investment products contributed around EUR 862 million to the total turnover.
According to the order book, trading in equities produced turnover of over EUR 1,4 billion. German equities contributed around EUR 802 million towards this total. International equities generated turnover of over EUR 602 million.
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Source: mondovisione.com
Retail Investing Surge Cushions Economic Downturn and Calls for Adequate Reforms
June 1, 2022--Over the last two years, health-related restrictions and economic shutdowns had unforeseen effects on European capital markets. An increase in disposable income available for EU households to invest, and at least four and a half million[1] previously inactive EU savers now investing in the real economy and trading in financial instruments, has created a new generation of "retail" investors in the EU.
What's more, is that these developments came on the back of increased investor activism (and interest in shareholder engagement) and in the wake of disruptive FinTech business models that make investing a much more attractive and accessible proposition for EU households, bringing them closer to capital markets.
view the Better Finance The New Investing Environment for Retail Investors|Expectations and Challenges Ahead report view more ESMA reports on supervision of costs and fees in investment funds view more Three headaches for the European Central Bank view more Basel Committee finalises principles on climate-related financial risks, progresses work on specifying cryptoassets' prudential treatment and agrees on way forward for the G-SIB assessment methodology review Climate-related financial risks
The Committee agreed to a finalised set of principles for the effective management and supervision of climate-related financial risks. This follows the consultation by the Committee on these principles last year. The principles, which will be published in the coming weeks, seek to promote a principles-based approach to improving risk management and supervisory practices to mitigate climate-related financial risks. view more If you are looking for a particuliar article and can not find it, please feel free to contact us
Source: betterfinance.eu
May 31, 2022--The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes a report on the Common Supervisory Action (CSA) on costs and fees for investment funds, that was carried out with National Competent Authorities (NCAs) during 2021.
ESMA highlights, in the Report, the importance of supervision in ensuring investors are not charged with undue costs, considering its high impact on investors' returns.
Source: ESMA
May 31, 2022--Even though inflation in the euro area is lower than in the US, three issues make it a lot more difficult for the ECB to control inflation and preserve financial stability. Once again, the limits of EMU architecture are visible and will require a rethink.
In its latest forecast published on 16 May, the European Commission expects inflation in the euro area to be 6.1% and growth 2.7% in 2022.
The last forecasts published by the ECB on the 10 March, predicted inflation and growth at 5.1% and 3.7% respectively. These are big revisions for such a short time span and they of course reflect the implications of the war in Ukraine.
Source: bruegel.org
May 31, 2022--Basel Committee finalises principles for effective management and supervision of climate-related financial risks.
Progresses work on specifying cryptoasset prudential treatment and issuing a second consultation paper.
Finalises review of the treatment of cross-border exposures within the European Banking Union on the G-SIB methodology.
The Basel Committee met on 27 May and approved a finalised set of principles for the effective management and supervision of climate-related financial risks. It also progressed its work on specifying a prudential treatment of cryptoassets and issuing a second consultation paper, and agreed on a way forward to reflect developments in the European banking union (EBU) on the assessment methodology for global systemically important banks (G-SIBs). In addition, the Committee is continuing to assess risks to and vulnerabilities of the global banking system, including those ensuing from the conflict in Ukraine.
Source: bis.org
