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Euro area economic and financial developments by institutional sector: first quarter of 2021
July 28, 2021--July 28, 2021--Euro area net saving decreased to €517 billion in four quarters to first quarter of 2021, compared with €528 billion one quarter earlier
Household debt-to-income ratio increased to 96.4% in first quarter of 2021 from 93.6% one year earlier
Non-financial corporations' debt-to-GDP ratio (consolidated measure) rose to 84.7% in first quarter of 2021 from 77.2% one year earlier
Total euro area economy
Euro area net saving decreased to €517 billion (5.8% of euro area net disposable income) in the four quarters to the first quarter of 2021 compared with €528 billion in the four quarters to the previous quarter. Euro area net non-financial investment declined to €244 billion (2.7% of net disposable income), mainly due to decreased investment by non-financial corporations.
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Source: ECB
Official Statistics: Database of forecasts for the UK economy
July 28, 2021--We've compiled independent forecasts for the UK economy since 1986. This database includes forecasts of key economic indicators from those publications.
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Source: gov.uk
ECB-Monetary developments in the euro area: June 2021
July 27, 2021--Annual growth rate of broad monetary aggregate M3 decreased to 8.3% in June 2021 from 8.5% in May (revised from 8.4%)
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, stood at 11.7% in June, compared with 11.6% in May
Annual growth rate of adjusted loans to households stood at 4.0% in June, compared with 3.9% in May
Annual growth rate of adjusted loans to non-financial corporations stood at 1.9% in June, unchanged from previous month
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 decreased to 8.3% in June 2021 from 8.5% in May, averaging 8.7% in the three months up to June. The components of M3 showed the following developments.
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Source: ECB
Martin Gilbert's AssetCo to acquire 63% stake in Rize ETF for 16.5m GDP
July 22, 2021--Further £5.25m committed to fund growth
Martin Gilbert's AssetCo has struck a deal to acquire a 63% stake in Rize ETF for £16.5m, with a further £5.25m to be invested in the thematic ETF provider to fund growth.
AssetCo plans to raise approximately £25m of new equity from investors to fund the acquisition. Following the deal, management and employees will own an effective 37% equity interest in Rize ETF, of which 5% is subject to certain near-term performance conditions, the company said in a statement.
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Source: investmentweek.co.uk
ESMA Highlights Areas for Improvement in Compliance With Mifid II Suitability Requirements
July 21, 2021--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, today publishes the results of the 2020 Common Supervisory Action (CSA) on MiFID II suitability requirements.
The 2020 CSA has shown that firms overall comply with key elements of the suitability requirements that were already regulated under MiFID I, such as the understanding of products and clients and their processes and procedures to ensure the suitability of investments
However, shortcomings and areas of improvement have emerged about some of the new requirements introduced by MiFID II, notably the requirement to consider the cost and complexity of equivalent products, the costs and benefits of switching investments and suitability reports.
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Source: ESMA
Forecasts for the UK economy: July 2021
July 21, 2021--A comparison of independent forecasts for the UK economy in July 2021.
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Source: gov.uk
BNY Mellon joins State Street to service new crypto exchange
July 21, 2021--Traditional financial institutions such as State Street and BNY Mellon continue to get involved in the fast-evolving cryptocurrency space.
Bank of New York Mellon is joining a new cryptocurrency initiative by offering its custody support to a new crypto exchange backed by United States bank State Street.
According to a Wednesday report by the Financial Times, BNY Mellon has joined a consortium of six banks behind the launch of London-based Pure Digital, a new crypto trading platform venture that is scheduled to execute its first Bitcoin (BTC) trade in the near future.
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Source: cointelegraph.com
ESMA see small decrease in EEA prospectus approvals in 2020
July 20, 2021--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, today publishes a joint Annual Report on Prospectus Activity and Sanctions for 2020.
ESMA found that the number of prospectus approvals across the European Economic Area (EEA) dropped by almost 5% compared to 2019, which appears to indicate that the Covid-19 crisis did not have the anticipated impact on approvals. In addition, only Belgium's Financial Services and Markets Authority (FSMA) and Norway's Finanstilsynet imposed prospectus related sanctions in 2020 with the majority imposed by the FSMA.
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Source: ESMA
New Q&As available
July 20, 2021--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today updated its Questions and Answers on the following topics:
AIFMD
UCITS
MiFIR data reporting
Prospectus
BMR.
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Source: ESMA
ETFGI reports record assets and net inflows for ETFs and ETPs listed in Europe of US$1.484 trillion and US$112.09 billion respectively at end H1 2021
July 16, 2021-- ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reports record assets and net inflows for ETFs and ETPs listed in Europe of US$1.484 trillion and US$112.09 billion respectively at end H1 2021. ETFs and ETPs listed in Europe reported net inflows of US$16.78 billion during June, bringing H1 net inflows to a record US$112.09 billion.
Assets invested in the European ETFs/ETPs industry have increased by 15.6% in H1 going from $1.284 Tn at the end of 2020 to $1.484 Tn, according to ETFGI's June 2021 European ETFs and ETPs industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Record $1.484 Bn invested in European ETFs and ETPs industry at end of H1 2021.
Assets have increased 15.6% in H1 going from $1.284 Tn at end of 2020 to $1.484 Tn.
Record H1 net inflows of $112.09 Bn beating prior record of $63.83 Bn gathered in H1 2017.
$112.09 Bn H1 net inflows are just $7.83 Bn below full year 2020 record net inflows $119.92 Bn.
$199.35 Bn in net inflows gathered in the past 12 months.
15th month of consecutive net inflows
Equity ETFs and ETPs listed in Europe gathered a record $87.05 Bn in net inflows in H1 2021.
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Source: etfgi.com