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  • ETFGI Reports Year-To-Date Net Inflows Into ETFs And ETPs Listed Globally At The End Of Q3 Are At A Record Level Of US$ 488.18

    Date 12/10/2020

    ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reported today that ETFs and ETPs listed globally gathered net inflows of US$59.74 billion during September, bringing year-to-date net inflows to record level of US$488.18 billion which is significantly higher than the US$349 billion gathered at this point last year. Assets invested in the global ETFs/ETPs industry decreased by 1.8%, from US$7.01 trillion at the end of August 2020, to US$6.89 trillion at the end of September, according to ETFGI's September 2020 Global 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.)

  • BIS: Bankruptcies, Unemployment And Reallocation From Covid-19

    Date 12/10/2020

    Key takeaways

    • The expected wave of business failures in the Covid-19 recession has yet to materialise, due in part to policy support, but also reflecting the inherent lag between declines in GDP and insolvencies.
    • Bankruptcies weigh heavily on labour markets. Unemployment typically increases three times more if a fall in GDP is accompanied by a similar-sized increase in bankruptcies.
    • Concentration of bankruptcies in those sectors hit especially hard by Covid-19 could exert a significant drag on the labour market.
    • The natural renewal process where young, dynamic firms displace those who exited takes two to three years, leaving a protracted period of lacklustre activity. This underscores the need to reallocate resources quickly and efficiently to drive growth in the post-pandemic world.

  • EBA Supports Harmonisation Of Creditworthiness Assessment For Consumer Credit Across The EU

    Date 12/10/2020

    • The EBA has responded to a Commission consultation on its proposed consumer agenda to express support for a harmonisation of creditworthiness assessments for consumer lending across the EU.
    • The harmonised approach to creditworthiness assessment for all consumer credit should cover data and methodologies that build on the EBA Guidelines on loan origination and monitoring.

  • BIS: Stress-Testing Banks During The Covid-19 Pandemic

    Date 12/10/2020

    Highlights

    • In response to the Covid-19 pandemic, a number of authorities that regularly conduct stress tests on individual banks adjusted their approach. They performed ad hoc exercises to assess the vulnerability of banking sectors as a whole. These exercises are different from regular ones in terms of key features such as objectives, design and methodologies, and communication.

  • ESAs’ Board Of Appeal Dismisses Case Against ESMA On Alleged Non-Application Of Union Law

    Date 12/10/2020

    The Joint Board of Appeal of the European Supervisory Authorities (ESAs – European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published today its decision in the appeal case brought by Mr Howerton against the European Securities and Markets Authority (ESMA). The Board of Appeal’s decision considered as inadmissable the Appellant’s claim that six national financial supervisory authorities and ESMA should have taken supervisory steps in relation to an alleged non-application of Union law.