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ECB-Monetary developments in the euro area: May 2021
June 25, 2021--Annual growth rate of broad monetary aggregate M3 decreased to 8.4% in May 2021 from 9.2% in April
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, decreased to 11.6% in May from 12.3% in April
Annual growth rate of adjusted loans to households stood at 3.9% in May, compared with 3.8% in April
Annual growth rate of adjusted loans to non-financial corporations decreased to 1.9% in May from 3.2% in April
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 decreased to 8.4% in May 2021 from 9.2% in April, averaging 9.2% in the three months up to and including May. The components of M3 showed the following developments.
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Source: ECB
ESG-linked bonds unsuitable to be used as capital buffer, says EU banking watchdog
June 24, 2021--ESG-linked bonds should be excluded from the capital buffers used by banks to offset potential risks and losses, the European Banking Agency (EBA) has said.
The guidance was included in a report published today by the EBA, which updated the eligibility criteria for capital buffers under the EU's Capital Requirements Regulation (CRR). It is believed to be the first time the regulator has opined on the topic in relation to ESG-linked bonds.
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Source: responsible-investor.com
ESMA-Joint Public Statement USD LIBOR
June 24, 2021--LIBOR, one of the most used benchmarks globally, will soon cease to be published.
The European legislative framework regulating financial benchmarks (Regulation (EU)2016/1011 1 ) has been recently amended 2 granting the European Commission powers to accompany the transition away from LIBOR in the European Union.
Nevertheless, significant reliance on any of the LIBOR settings at the time of their
discontinuation or loss of representativeness may have an impact on the functioning of the
European financial system.
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Source: ESMA
New climate reporting rules to be extended by UK financial regulator
June 22, 2021--UK financial regulators have outlined plans to extend climate reporting requirements to most UK listed companies and domestic asset managers to meet growing investor disclosure demands.
The Financial Conduct Authority requires companies to disclose the risks they face from climate change, ultimately with "98%" of both assets managed in the UK market and assets held by domestic money managers.
He said he wanted to cover. We want it to be applied not only to UK listed companies but also to standard companies.
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Source: californianewstimes.com
ESMA recommends changes to supervisory fees for credit rating agencies
June 21, 2021--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has published today its final report providing technical advice to the European Commission on the supervisory fees charged to credit rating agencies (CRAs).
The report is based on feedback from the recent public consultation and proposes changes to the calculation and the collection of supervisory fees set out in the current Delegated Regulation.
ESMA proposes to charge:
a fixed registration fee of €40,000; and
an annual supervisory fee of 0.5% of turnover to CRAs with annual revenues of between €4,000,000-15,000,000.
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Source: ESMA
IMF Staff Country Report-Switzerland: Selected Issues
June 21, 2021--Motivation and Stylized Facts1.
The Swiss economy has been hit hard by COVID-19, although the impact on sectors has varied considerably. The Swiss economy contracted by 3.4 percent overall in nominal terms in 2020. The pandemic and containment measures had heterogenous impacts depending notably on contact intensity and the ability to work online.
Accommodations and food services were hit hardest, recording a nearly 35 percent decline in activity. Arts, entertainment, and recreation were also severely impacted, with a nearly 20 percent drop. A few sectors grew, including public administration and agriculture.
2. The pandemic affected companies through many channels. Supply and demand were both affected; high, generalized uncertainty also played a role. Production processes were changed in many sectors, especially high-contact intensive areas, as protection measures were put in place.
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Source: IMF
UK plans rule changes to lure back EU share-trading flows
June 18, 2021-Consultation on reform could be announced as early as chancellor's July speech to the City
The UK wants to change its rules around share trading to adapt to life after Brexit, in an effort to entice EU share deals back to the City of London.
EU share trading quickly fled the UK after the full...
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Source: ft.com
New Invesco ETF on Xetra: innovative Chinese technology stocks
June 17, 2021--A new exchange traded fund issued by Invesco has been tradable on Xetra and Börse Frankfurt since Thursday.
With the Invesco MSCI China Technology All Shares Stock Connect UCITS ETF-Acc, investors can participate in the performance of 100 medium-sized and large Chinese technology stocks listed in Hong Kong, Shanghai, Shenzhen, and outside China.
The focus is on innovative technology companies in the fields of internet, digitalisation, mobility, industrial automation technology and digital healthcare.
The underlying equity universe is based on the Stock Connect programme between Hong Kong and Mainland China, which gives investors access to Chinese A-shares.
Name: Invesco MSCI China Technology All Shares Stock Connect UCITS ETF- Acc
Asset class: Equity ETF
ISIN: IE00BM8QS095
Ongoing charges: 0.49 per cent
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Source: xetra.com
FCA Research Note: Cryptoasset consumer research 2021
June 17, 2021--FCA says the digital assets appear to have become more normalised and viewed less as a gamble
Summary
This quantitative research follows 2 quantitative studies and 1 qualitative study since October 2018. This latest research will help us develop our thinking on the potential harms and benefits to consumers from cryptoassets, including our understanding of attitudes and patterns of usage.
We chose to use the term 'cryptocurrency' throughout the questionnaire. This term is more widely used in the public domain than the broader ‘cryptoasset' term the FCA has tended to use. We also use 'exchange' to represent 'cryptocurrency trading platforms', given that 'exchange' is widely understood and used by consumers.
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Source: fca.org.uk
New Theme ETFs from HANetf on Xetra: solar and tourism industry
June 17, 2021--Two new exchange traded funds issued by HANetf have been tradable on Xetra and Börse Frankfurt since Thursday.
For the first time, the Solar Energy UCITS ETF- Acc gives investors targeted access to companies from the solar industry worldwide.
These include manufacturers of photovoltaic systems, solar cells, solar-powered charging, and energy storage systems as well as providers of installation, development, and financing of solar power systems. The weighting of a company is based on the share of sales from the solar business.
Companies with significant business activities in oil sands, fossil fuels or weapons are excluded from the index. The same applies to companies that violate the United Nations Global Compact.
With the Airlines, Hotels and Cruise Lines UCITS ETF- Acc, investors focus on companies in the tourism industry worldwide. In addition to tour operators, the focus is primarily on airlines, hotel operators and cruise lines. The weighting of a security is limited to a maximum of 4.5 per cent.
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Source: xetra.com
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