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ECB to crack down on dangerous risks in banks' leveraged lending
July 2, 2021--European Central Bank supervisors warn that banks are overly content with the undue risk they are accumulating in the leveraged and equity derivatives markets, resulting in higher capital requirements.
Andrea Enria said on Friday that she was concerned about banks' "market complacency and excessive risk-taking" : "increased leverage, financial complexity and opacity warning signs are a dangerous combination of risk factors. It creates the possibility of. "
ECB officials said the speech showed that supervisors had lost patience with some larger eurozone lenders, such as Deutsche Bank. That call To curb more risky lending.
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Source: californianewstimes.com
ESMA publishes first overview of national rules governing fund marketing
July 1, 2021--The European Securities and Markets Authority (ESMA), the EU securities markets regulator, has submitted to the European Parliament, the Council and the European Commission its first report on national rules governing the marketing of investment funds under the Regulation on cross-border distribution of funds.
In this report, ESMA provides an overview of the marketing requirements across Member States, and analyses the effects of national laws, regulations and administrative provisions governing the marketing of investment funds. The report is based on responses provided by National Competent Authorities (NCAs) to two questionnaires prepared by ESMA.
Key findings:
National laws, regulations and administrative provisions governing marketing requirements are usually based on the transposition of the AIFMD and the UCITS Directive, although NCAs’ responses showed that some additional national requirements may be applicable.
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Source: ESMA
New theme ETF from HANetf on Xetra: first ETF with a carbon offset
June 30, 2021--A new exchange traded fund issued by HANetf has been tradable via Xetra and Börse Frankfurt since Wednesday.
With the HANetf S&P Global Clean Energy Select HANzeroTM UCITS ETF-Acc, investors participate in the performance of 30 companies from developed and emerging markets around the world, who promote the development of clean energies with their products and services.
This includes the production of wind, water, solar, and geothermal energy as well as biofuels and fuel cells.
To achieve climate neutrality, the fund invests in a carbon offset which is acquired in cooperation with South Pole to finance green projects to reduce greenhouse gases.
The weighting of an instrument is limited to a maximum of 4.5 per cent.
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Source: Xetra
ETFGI reports assets invested in ETFs and ETPs listed in Europe reach a record of US$1.48 trillion at the end of May
June 28, 2021-- ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reports assets invested in ETFs and ETPs listed in Europe reach a record of US$1.48 trillion at the end of May.
ETFs and ETPs listed in Europe reported net inflows of US$16.34 billion during May, bringing year-to-date net inflows to US$96.02 billion.
Assets invested in the European ETFs/ETPs industry have increased by 3.6%, from US$1.43 trillion at the end of April, to US$1.48 trillion, according to ETFGI's May 2021 European ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets invested in ETFs and ETPs listed in Europe reach a record $1.48 Trillion at the end of May.
Record YTD net inflows of $96.02 Bn beating the prior record of $53.22 Bn gathered YTD in 2017.
Fifteen consecutive months of net inflows
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Source: ETFGI
21Shares Continues Its Listing Strategy With The Launch of Solana (SOL) ETP
June 28, 2021-- 21Shares AG, the pioneering issuer of crypto Exchange Traded Products (ETPs) is launching the world’s first Solana (SOL) ETP (ticker: ASOL) on the regulated market of the Swiss stock exchange (SIX Exchange) on Wednesday, June 30th 2021 further boosting 21Shares as the leading issuer of crypto ETPs.
The ETP will offer additional yield through staking rewards by validating transactions on the Solana blockchain which is dedicated to fostering active network participation (such as staking) in a secure, regulated and insured environment.
Solana (SOL) is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland headed by developer Anatoly Yakovenko. One of the essential innovations Solana brings to the table is the proof-of-history (PoH) consensus. Solana is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana's hybrid protocol allows for significantly decreased validation times for both transaction and smart contract execution.
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Source: 21Shares
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
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