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Press Release: 'A new vision for Europe's capital markets'
June 10, 2020--A new vision for Europe's capital markets' has long been required and is needed now more than ever. FESE welcomes the recommendations published today by the High-Level Forum on capital markets union (HLF) in their synonymously named report.
FESE's Blueprint (May 2019): 'Capital Markets Union by 2024-A vision for Europe', which sets out 20 Principles and Policy Recommendations on how to take the Capital Markets Union (CMU) forward, and the European IPO Report (March 2020) called on policy makers to take a step back and reflect upon how we could foster a deeper and more integrated European financial system while continuing to be open to global capital markets. It also asked policy makers to re-double their efforts and take bold decisive steps to ensure the EU remained attractive to global capital and companies, whilst maintaining transparency, integrity and investor protection.
view the FESE A post-crisis framework for European capital markets position paper
Source: FESE
Exclusive: ECB prepares 'bad bank' plan for wave of coronavirus toxic debt
June 10, 2020-- European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak, two people familiar with the matter told Reuters.
The project, which comes as Europe mobilises trillions of euros to bolster the region's economy, is aimed at shielding commercial banks from any second fallout from the crisis, if rising unemployment chokes off the income needed to repay loans.
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Source: Reuters
Is the COVID-19 crisis an opportunity to boost the euro as a global currency?
June 5, 2020--The euro never challenged the US dollar, and its international status declined with the euro crisis. Faced with a US administration willing to use its hegemonic currency to extend its domestic policies beyond its borders, Europe is reflecting on how to promote it currency on the global stage to ensure its autonomy.
But promoting a more prominent role for the euro is difficult and involves far-reaching changes to the fabric of the monetary union.
The euro became an international currency when it was created two decades ago. However, the euro's internationalisation peaked as early as 2005 and it was never comparable to the US dollar. Its international status declined with the euro crisis. Faced with a US administration willing to use its hegemonic currency to extend its domestic policies beyond its borders, Europe is reflecting on how to promote actively the internationalisation of the euro, to help ensure its autonomy. But promoting a more prominent role for the euro is difficult and would involve far-reaching changes to the fabric of the monetary union.
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Source: bruegel.org
ESMA provides guidance on the compliance function under MiFID II
June 5, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, today publishes the final guidelines on the MiFID II compliance function.
These guidelines replace the ESMA guidelines on the same topic issued in 2012 and include updates that enhance clarity and foster greater convergence in the implementation, and supervision, of the new MiFID II compliance function requirements.
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Source: ESMA
Active funds lead the way in UK market recovery
June 5, 2020--£4bn inflows to retail funds in April after record outflows in March
"Investors are backing active fund managers to help navigate the volatile markets," said Laura Suter, personal finance analyst at investment...
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Source: FT.com
Sweden: Will COVID-19 Economics be Different?
June 4, 2020--Sweden's less restrictive containment strategy may have resulted in a milder economic contraction at the onset of the crisis, but uncertainty remains about its implications for the rest of the year.
Other factors, including falling external demand, will heavily weigh on growth. Concerns have also been raised about the country's death rate which, although lower than in Europe's worst-affected countries, is a multiple of its Nordic neighbors.
view Eurozone in fresh emergency action to boost economy
The move will keep borrowing costs low for countries and firms as they face huge budget deficits and recessions. view more ESMA promotes convergence in the supervision of costs in UCITS and AIFs ESMA's first annual statistical report in January 2019 on costs and performance of retail investment products, showed the significant impact of costs on the final returns for investors. view more EU-China trade and investment relations in challenging times
Trade continues to be the least problematic aspect of the EU-China economic relationship, although challenges need to be dealt with in a number of areas. view more New Vanguard ETF on Xetra: Above-average dividend yield worldwide
Name: Vanguard FTSE All-World High Dividend Yield UCITS ETF-USD Acc
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Source: IMF
June 4, 2020--The European Central Bank has taken further dramatic measures try to boost the eurozone economies, amid their biggest recession since World War Two.
Just months after emergency measures, the central bank said it would increase the size of its bond buying programme by €600bn (£546bn) to €1.35tn.
The programme will run until June 2021, six months longer than planned.
Source: bbc.com
June 4, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has published today a supervisory briefing on the supervision by National Competent Authorities (NCAs) of costs applicable to Undertakings for the Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs).
This briefing comes in response to the need to improve convergence across NCAs in the approach to undue costs.
Source: ESMA
June 4, 2020--This report examines key aspects of the European Union-China economic relationship, including trade, investment and China's key strategic project overseas, the Belt and Road Initiative (BRI). We conclude that China is, and will continue to be, a major trade and investment partner for EU countries.
In this context, it seems clear that regardless of the direction of the United States-China relationship, the EU needs to explore options for fruitful co-existence with China.
Source: bruegel.org
June 3, 2020--Since Wednesday a new Exchange Traded Fund issued by Vanguard is tradable on Xetra and Börse Frankfurt.
The Vanguard FTSE All-World High Dividend Yield UCITS ETF (Acc) gives investors the opportunity to invest specifically in large and mid-sized companies worldwide with an above-average dividend yield.
The underlying index comprises both developed and emerging markets. Only real estate investment funds (REITs) are excluded from the investment universe. Any dividend income is reinvested.
Asset class: Equity ETF
ISIN: IE00BK5BR626
Source: Deutsche Börse
