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Contagion can spread via cross-asset links, ECB study shows
July 1, 2020-- Research throws more light on the hidden risks of central clearing
Financial stress can move between central counterparties, clearing members and their clients more widely than previously thought, recent research suggests.
A study by two European Central Bank (ECB) market infrastructure specialists uses network theory to build a picture of the complex latticework of links between derivatives clearing participants in the eurozone. The research echoes the findings of earlier work in showing a concentration of risk among a few members.
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Source: risk.net
New Amundi ETF on Xetra: Sustainable investments in emerging markets
June 30, 2020--Since Tuesday a new Exchange Traded Fund issued by Amundi is tradable via Xetra and Börse Frankfurt.
With the Amundi MSCI Emerging ESG Leaders UCITS ETF DR (C), investors invest in large and medium-sized companies from 26 emerging markets in accordance with sustainability criteria.
Companies with significant business activities in the fields of nuclear energy, tobacco, steam coal, alcohol, gambling, weapons and genetically modified organisms are excluded from the index. The weighting of a stock is limited to a maximum of five per cent. Dividends are reinvested. The annual costs amount to 0.18 per cent.
Name: Amundi MSCI Emerging ESG Leaders UCITS ETF DR(C)
Asset class: Equity ETF
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ECB-Euro money market statistics: third maintenance period 2020 Daily average borrowing turnover in the secured segment increased from €333 to €341 billion, with a weighted average overnight rate of -0.52% view more The Wirecard debacle calls for a rethink of EU, not just German, financial reporting supervision view more European exchanges reject London's plan for shorter trading day view more Solactive releases 'Solactive right, 2 Degree-Aligned Europe Index' based on right, based on Science's XDC Economic Climate Impact Model view more New Credit Suisse ETFs on Xetra: Sustainable investments in global real estate stocks and US small cap companies
Dividends are reinvested in both ETFs. The annual costs are 0.25 and 0.20 per cent. view more EU fund performance forecasts 'failed Covid-19 test'
The rules have faced resistance from asset managers, who warned that they had created misleadingly optimistic projections due to the strong performance of markets in recent years. view more Credit Suisse new ETF range hits $2bn in three months
In addition, Credit Suisse has launched two new ETF products: the CSIF (IE) MSCI USA Small Cap ESG Leaders Blue UCITS ETF and CSIF (IE) FTSE EPRA Nareit Developed Green Blue UCITS ETF. view more
The Climate Financial Risk Forum publishes its guide to help the financial industry address 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: Deutsche Börse
June 30, 2020--Daily average borrowing turnover in the unsecured segment decreased from €152 billion in the second maintenance period of 2020 to €145 billion in the third maintenance period of 2020.
Weighted average overnight rate on borrowing transactions in the unsecured segment decreased from-0.50% to-0.51% for the wholesale sector, and decreased from -0.53% to -0.54% for the interbank sector
Source: ECB
June 30, 2020--The spectacular collapse of Wirecard AG should serve as a wake-up call for the European Union on the need to pool the relevant supervisory mandates at EU level.
Wirecard AG, the Munich-based payments and financial services company that was a member of the DAX index of Germany's 30 leading blue chip stocks, collapsed spectacularly and filed for insolvency on June 25, 2020.
Among many lessons, this disaster has revealed major gaps in audit regulation and accounting enforcement in Germany and by extension in the European Union (EU). Like in other areas of financial supervision, having oversight over financial reporting in an integrated EU market only at the national level generates perverse incentives that impair supervisory effectiveness. The policy response to this challenge should be to pool the relevant supervisory mandates at the EU level.
Source: bruegel.org
June 30, 2020--Shorter hours would not be in the best interests of investors or stock markets, European bourses said on Wednesday, dashing hopes at banks and investment companies in London of cutting 90 minutes from the trading day.
The Federation of European Securities Exchanges (FESE) said shorter hours would be a move in the wrong direction. The current European trading day is 0900-1730 continental European time, longer than in Asia or Wall Street.
Source: reuters.com
June 29, 2020--With numerous regulatory initiatives concerning sustainable finance, the European Union is currently setting the course for the area's transition towards the <2°C scenario captured in the Paris Agreement. This shift creates a quest for innovative data to shape the investment solutions supporting this transition not only in Europe but on a global scale.
Now Solactive, with the support of climate metrics and software provider right. based on science, developed a benchmark index, the Solactive right. 2 Degree-Aligned Europe Index, a broad portfolio of sector-leading European companies aligned with a 2°C global warming scenario through 2050.
Source: Solactive AG
June 29, 2020--Since Monday, two new exchange traded funds issued by Credit Suisse Asset Management have been tradable on Xetra and Börse Frankfurt.
The CSIF (IE) FTSE EPRA Nareit Developed Green Blue UCITS ETF- B USD enables investors to invest globally in the performance of real estate companies and listed Real Estate Investment Trusts (REITs). The properties are subjected to a sustainability assessment, considering energy consumption values and "Green Building" certification.
With the CSIF (IE) MSCI USA Small Cap ESG Leaders Blue UCITS ETF - B USD, investors invest in small caps from the USA in accordance with sustainability criteria. Companies with significant business activities in nuclear energy, tobacco, coal, alcohol, gambling, weapons and genetically modified organisms are excluded from the index.
Source: Deutsche Börse
June 29, 2020--Controversial European rules designed to help retail investors choose suitable funds failed to warn about steep performance falls during the coronavirus-induced market sell-off, raising more doubts about the effectiveness of the regulations.
EU rules introduced in 2018, known as Priips, require providers of all investment products sold to retail investors to publish future performance projections reflecting a range of market conditions to help customers make more informed decisions.
Source: technocodex.com
June 29, 2020--The asset manager has also launched two new passive strategies that focus on ESG and allocate to global real estate and US small caps.
Credit Suisse AM's first ETF range has reached $2bn in assets in only three months since its official launch.
The asset manager ventured into the space in March this year and the new product suite currently complements 98 existing index funds with $104bn assets under management.
Source: citywireselector.com
June 29, 2020-Today the Climate Financial Risk Forum (CFRF) has published a guide written by industry for industry to help firms approach and address climate-related financial risks. The guide, the first of its kind, provides practical recommendations to firms of all sizes on disclosure of climate-related financial risks; effective risk management; scenario analysis, and opportunities for innovation in the interest of consumers.
The CFRF was jointly established in March 2019 by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), reflecting the importance of climate change to their respective strategic objectives. Its aim is to build capacity and share best practice across financial regulators and industry to advance the sector's responses to the financial risks from climate change. Membership is drawn from a wide range of industry participants, to ensure the perspective of a broad range of firms is represented.
Source: bankofengland.co.uk
