News Centre

FSB Virtual Workshop On Funding And Interconnectedness Practices To Aid Resolution Planning For Insurers

Date 28/06/2022

On 10 January 2022, the FSB published a call for public feedback on its practices papers on Resolution Funding for Insurers and Internal Interconnectedness in Resolution Planning for Insurers. Interested parties were invited to provide written responses by 15 March 2022. The FSB thanks those who have taken the time and effort to express their views. 

GPW Acquires Armenia Securities Exchange

Date 28/06/2022

• The Warsaw Stock Exchange (GPW) has signed a Share Purchase Agreement with the Central Bank of Armenia (CBoA) to buy a 65,03% stake in the Armenia Securities Exchange (AMX) from CBoA
• GPW and CBoA have signed a Shareholders’ Agreement regarding the participation of the contracting parties in AMX
• The signing ceremony was attended by representatives of Polish and Armenian authorities, including Marcin Przydacz, Undersecretary of State at the Ministry of Foreign Affairs

Euronext Announces Its Science-Based Climate Targets Supporting Its “Fit For 1.5°” Commitment

Date 28/06/2022

Euronext, the leading pan-European market infrastructure, today announced its science-based climate targets to reduce greenhouse gas emissions in alignment with the Paris Agreement, based on the framework provided by the Science Based Targets initiative (SBTi). These targets support Euronext’s recently announced "Fit for 1.5°” commitment to net zero through the “Business Ambition for 1.5°” initiative in partnership with the United Nations Climate Change “Race to Zero” campaign. Euronext’s ESG commitment is a key pillar of Euronext’s “Growth for Impact 2024” strategic plan announced in November 2021.

L8 Holdings Ltd. And Pro-IPO Investment: BaFin Prohibits L8 Holdings Ltd. And Pro-IPO Investment From Offering The Securities The Shares Of L8 Holdings Ltd. To The public.

Date 28/06/2022

On 22nd June 2022, BaFin prohibited L8 Holdings Ltd., which states that its registered office is in 2102-58 Keefer Place, BC Vancouver, Canada, and Pro-IPO Investment, which states that its registered office is in 50 Mark, Ln, EC3R 7QR London, United Kingdom, from offering the securities shares of L8 Holdings Ltd. to the public. BaFin imposed the prohibition because the companies had infringed Article 3(1) of the EU Prospectus Regulation. For this reason, neither L8 Holdings Ltd. nor Pro-IPO Investment may not offer the securities the shares of L8 Holdings Ltd. to the public in Germany.

U.S. Treasury Sanctions Nearly 100 Targets In Putin’s War Machine, Prohibits Russian Gold Imports

Date 28/06/2022

• US Treasury Implements G7 Commitments by Prohibiting Gold Imports and Targeting Defense Industrial Base, Military and Intelligence Units, and Sanctions Evaders
• FinCEN and U.S. Department of Commerce Implementing G7 Commitments by Cracking Down on Export Control Evasion

U.S. Office Of Financial Research Working Paper Finds Cash Biases Measurement Of The Stock Return Correlations

Date 28/06/2022

Today, the U.S. Office of Financial Research published a working paper, "Cash-Hedged Stock Returns," and an accompanying blog, regarding firms' cash holdings and the implications for asset prices and financial stability.

EBA Observed An Increasing Encumbrance Ratio In 2021 Albeit With Some Signs Of Stabilisation

Date 28/06/2022

• Following the outbreak of the COVID-19 pandemic, the encumbrance ratio continued an upward trend but remained roughly stable in the second half of 2021.
• Banks kept making extensive use of central bank funding and more than 50% of their central bank eligible-assets and collateral are now encumbered.
• Increasing encumbrance ratios might lead to adverse feedback loops of higher encumbrance and higher funding costs.

Navigating Market Signals: MaPS For Policy Makers – Remarks By Andrea Rosen, Given At An Association For Financial Markets In Europe (AFME) Event, London

Date 28/06/2022

Andrea Rosen talks about our market intelligence and analysis function. It helps us to understand and interpret what’s happening in global financial markets. She describes how it supports the work of our Monetary Policy Committee. 

ESMA Updates On Applications For Recognition From U.S.- Based CCPs

Date 28/06/2022

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has announced its recognition of two central counterparties (CCPs) established in the United States (U.S.) as Tier 1 CCPs under the European Market Infrastructure Regulation (EMIR). These are the Fixed Income Clearing Corporation (FICC) and the Options Clearing Corporation (OCC).  

CME Group To Launch Event Contracts On September 19

Date 28/06/2022

CME Group, the world's leading derivatives marketplace, today announced it will launch event contracts on September 19, pending regulatory review.