Friday 1st August 2014
slib33
FRIDAY TICKER: AUGUST 1ST: Collaborative Data Network CMDportal statistics show that the international money market increased outstandings by approximately $31bn during the month of July, both in USD and in EUR, with three of the four major asset classes posting growth. Financial Institutions Groups (FIGs) outstandings increased by 3.44%, seeing the greatest absolute growth. Sovereigns, Supranationals and Agencies (SSAs) posted a 2.9% increase. Oustandings by Corporate borrowers grew by 7%. The only major sector that posted a contraction was Asset-Backed securities, which finished down by approximately $1.4bn (3.2%). USD denominated markets grew by USD13.2bn and Euro denominated markets grew by $12.5bn equivalent. Total International Money Market settlements in July reached $307.8bn - Moody's Interfax Rating Agency has today affirmed the Baa3.ru national scale rating (NSR) of Maritime Bank. The affirmation of the NSR reflects Maritime Bank's currently acceptable capital adequacy and asset quality balanced with weak profitability; and modest liquidity cushion against the bank's high depositor concentration and the challenging operating environment in Russia. NSRs carry no specific outlooks. The rating action is primarily based on the bank's unaudited financial statements for January 2013-July 2014 - The Macau government published the casino industry’s gross gaming revenue today. In July, Macau collected 28.4 gross gaming revenue, or an equivalent of 917 million daily table wins, down 3.6% from a year ago. Macau’s July numbers were clouded by the World Cup, say the government. Chinese are avid soccer fans. Macau names fell off in trading after the announcement, with Galaxy Entertainment losing 2.4%, while Wynn Resorts fell 1.8%. All eyes are now on August’s figures - A new point-of-sale malware known as Backoff has been linked to numerous remote-access attacks, putting small merchants at greatest risk, according to an alert from federal authorities. The alert from the Department of Homeland Security, the Secret Service and the Financial Services Information Sharing and Analysis Center notes that Backoff is a recently discovered family of POS malware that has now been identified in at least three separate forensic investigations – Italy’s biggest retail bank Intesa Sanpaolo has beaten forecasts reporting a Q2 net profit of €217m, as the bank moves along a new business path which highlights asset management. The bank said its operating result and pre-tax profit for the period was the best in the last nine quarters, with higher revenues from asset management offsetting the impact of one-off charges such as write-downs.
Europe

Europe will continue to experience a divide between the few countries enjoying strong growth and the remainder experiencing sluggish growth. Such clear disparity stems from several underlying differences – and has serious implications for as long as it continues.

In order to categorise eurozone countries as having either strong or sluggish growth, we must first consider their production capacity trends. Doing so reveals that Germany, Austria and Belgium have strong industries and dynamic growth, while the other eurozone countries are more troubled. Finland in particular is suffering from a decline in the production of electronic goods, while the Netherlands faces falling real estate prices, and Ireland must contend with a decline in production in the wake of the country’s economic crisis.

This division between the two groups will continue indefinitely, with the first group growing at a consistently faster pace than the rest of the eurozone. If it is to change, we must first identify and understand the six key factors.

Read more...

The Tel Aviv Stock Exchange (TASE) will adopt measures to consolidate the risk management framework employed in the TASE group at its last meeting that will strengthen the group’s ability to identify and respond to risks inherent in TASE’s activity and business environment in real time and meet internation standards and best practices.

Read more...

The nascent European private debt investment market, which includes direct lending funds, has potential to significantly grow the level of assets under management (AUM), says Moody's in a new report published today. More than 60 new private debt funds in Europe were raising capital exceeding $33bn as of May 2014.

Read more...

Now the bruhaha over rising interesting rates as QE must come to an end: independent think tank Resolution Foundation says a rise in UK interest rates to 3% will adversely affect highly-geared UK households, impacting mortgages and the fortunes of any incoming government.Dealing with the household debt hangover must be priority for next Parliament as the end of ‘holiday period’ for borrowing costs draws nearer, says the think tank.           

Read more...

The latest data from Now Casting Index suggests that conditions in the euro area economy are deteriorating: The firm's NCI an index that measures the state of the business cycle. It is calculated from a broad set of economic indicators) is at 94.24 for July, compared to 96.37 for June. The index is normalised to have a mean value of 100 and a standard deviation of 25 calculated over the estimation sample. Values above 100 indicate that real activity is growing above the mean. Conditions are expected to continue to worsen, as the August NCI™ is forecast at 92.06. These NCI™ values have all been revised downward in light of data released over the past month.  The NCI™ for July is lower than the 97.39 forecast a month ago.

Read more...

Countries on the periphery of the eurozone, specifically Portugal, Italy, Ireland, Greece and Spain, have been thrust deeper into financial crisis since the crash of 2008; the result of a combination of increasing sovereign debt and weak economic growth. Due to the size of external deficits, accumulated before 2008, these countries now face an external balance constraint.

Read more...

Russian Law 306-FZ establishes, among other things, that the information required by the tax agent must be presented in all details, in the correct format and on a voluntary basis, before payment date and that, if this requirement is not met, income entitlements under Russian securities will be subject to a tax rate of 30%. In addition, the Russian Tax Authorities are entitled by  law to request, after the payment of income, disclosure of the final beneficial owners and submission of the documents mentioned in "Ad-hoc tax disclosure" below. Where a double taxation treaty (DTT) provides for any limitation of tax privileges, the Russian Tax Authorities may request that the taxpayer provide (at the time of filing documents certifying the taxpayer’s tax residency status) an additional certificate issued (in any form) by a competent authority to certify that the taxpayer claiming tax privileges under the DTT is eligible to make such claim.As a consequence, Russian equities held with Clearstream Banking for which no disclosure has been provided will be subject to the maximum 30% tax rate.

Read more...

Association (AIMA), the global hedge fund industry association, has launched OTC derivatives clearing guidelines for asset managers. AIMA’s Guide to Sound Practices for OTC Derivatives Clearing provides guidance on the new regulatory framework in the US and European Union, which affects most OTC derivatives transactions cleared globally. The Guide to Sound Practices is supplemented by a Due Diligence Questionnaire for Clearing Members, which is intended to help asset managers during the process of evaluating different clearing members and clearing houses.

Read more...
Page 1 of 157

Current IssueSpecial Report

Tweets by @DataLend

DataLend is a global securities finance market data provider covering 42,000+ unique securities globally with a total on-loan value of more than $1.8 trillion.

What do our tweets mean? See: http://bit.ly/18YlGjP

White Paper

Internationalizing the Renminbi: Weaving a Web for the Next World Currency

Internationalizing the Renminbi: Weaving a Web for the Next World Currency

pdf Download PDF View all Whitepapers

Blogs

  • Wednesday, 09 July 2014 14:10 FHY1 Russian domestic bond issue league table
    by Cbonds
    A combination of elements, which include the relative success of diplomatic efforts in heading off a serious conflict in the Ukraine, the continued strengthening of…