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  • Bank Of England Executive Director And Financial Policy Committee Appointment

    Date 06/11/2023

    The Court of the Bank of England today appointed Nathanaël Benjamin as Executive Director for Financial Stability Strategy and Risk (FSSR). Nathanaël (Nat) will also become a member of the Financial Policy Committee (FPC).

  • Remarks To SEC Regulation Outside the United States: Fifth Annual Scott Friestad Memorial Lecture, Commissioner Mark T. Uyeda, London, United Kingdom, Nov. 6, 2023

    Date 06/11/2023

    Good morning and thank you, Jim [Burns], for that introduction. I am pleased to be part of the 2023 conference on SEC Regulation Outside the United States to deliver the Fifth Annual Scott Friestad Memorial Lecture.

  • ICE Mortgage Monitor: Affordability And Demand Continue To Suffer As Rates Hit 23-Year High - Lendable Equity Nearing Record Levels, Yet Borrower Retention Worst In 17 Years

    Date 06/11/2023

    • Rising rates and home prices have pushed the principal and interest (P&I) payment needed to purchase the median-priced home up $144 per month over the past 30 days to more than $2,500 for the first time
    • It now takes 40.6% of the median household income to cover monthly P&I – after averaging less than 25% over the past 35 years – making for the least affordable housing market since 1984
    • As a result, purchase-mortgage applications fell to 47% below pre-pandemic levels the week of Oct. 26 – the weakest they’ve been since rates began to rise
    • Further, annual home price growth continued to accelerate to +4.3% in September, though the monthly gain (+0.39%) was the weakest since January and a marked downshift from August’s revised +0.61%
    • However, with rates above 7.5%, affordability is at a 39-year low and purchase applications are waning; given these conditions it’s fair to expect prices to weaken later in 2023
    • Rising prices have brought mortgage-holder equity to within 2% of last year’s record highs in Q3 at $16.4T, $10.6T of which is available for homeowners to borrow against while keeping a 20% equity stake in the home
    • The bulk of refinance activity is equity driven, but retention of consumers post-refi is at its lowest in 17 years, due to an inability to identify and effectively market to those most likely to transact in this market

  • Xenia Hotellerie Solution Lists On Euronext Growth Milan

    Date 06/11/2023

    • 28th listing of 2023 on Euronext Growth Milan
    • 54th listing on Euronext in 2023
    • Total placement volume of the offering equal to €2.3 million

  • ACER’s Latest REMIT Quarterly Is Out

    Date 06/11/2023

    The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) provides an EU framework for ensuring the transparency and integrity of energy markets and deters market participants from manipulating the market. It has also an important role in protecting the interests of companies and consumers and ensuring trust in energy markets.