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  • New Members Appointed To Finansinspektionen’s Board Of Directors

    Date 02/07/2024

    The Government has appointed Martin Flodén and Roine Vestman, both professors in economics at Stockholm University, to FI’s Board of Directors.

  • Investor Activity On GPW In June 2024

    Date 02/07/2024

    GPW Main Market equity turnover reached PLN 24.3 billion in June 2024, a decrease of 2.4% year on year. Average daily equity turnover on the Warsaw Stock Exchange increased to PLN 1.21 billion, up 2.4% year on year. The broad market index WIG gained close to 13% in H1 2024.

  • FSB Consults On Interim Findings Of Its Evaluation Of The Effects Of The G20 Financial Regulatory Reforms On Securitisation

    Date 02/07/2024

    • Evaluation finds that risk retention and higher prudential requirements have enhanced the resilience of the securitisation market, without strong evidence of material negative side-effects on financing to the economy.
    • The reforms have contributed to a redistribution of risk from banks to the non-bank financial intermediation (NBFI) sector.
    • Further analysis will be undertaken, incorporating feedback from this public consultation, before publication of a final report at the end of 2024.

  • ICE Mortgage Monitor: As Market Gradually Shifts To Higher Rates, Latest Data Identifies Possible Refinance Tipping Point

    Date 02/07/2024

    • According to ICE Mortgage Technology data and analytics, as of May, 24% of mortgage holders had current interest rates of 5% or higher, up from 10% two years ago
    • Four million loans originated since 2022 have rates of 6.5% or higher – 1.9M at 7%+ – providing modest opportunity for growth in the number of mortgage holders with incentive to refinance as rates ease
    • An average of ~240K mortgages sit in each 1/8th of a percent rate band from 7-7.625% providing only modest increases to the number of in-the-money mortgages as those loans gain refinance incentive
    • There’s a spike of 690K loans with rates just below 7%, driven in part by borrowers buying down their rates for the comfort of an interest rate that starts with a 6, which could be a tipping point to more meaningful, albeit still modest, refi activity as those borrowers gain incentive to refinance
    • The VA share of rate/term refi activity experienced a noticeable upswing in recent weeks, accounting for more than 30% of recent rate locks, according to ICE originations data, up from less than 10% last year
    • The average VA refinance borrower is early into their 30-year term (average prior loan age of ~1 year) and benefitting from a 1pp cut in their first lien mortgage rate, for an average savings of $230 per month
    • Refinance retention hit its highest level in 18 months in Q1, driven in part by a tripling of rate/term retention – from 15% in Q4 to 46% in Q1 – among borrowers refinancing their VA and FHA loans

  • SYS-DAT Lists On Euronext STAR Milan

    Date 02/07/2024

    • Ninth admission of 2024 on Borsa Italiana’s Markets 
    • 25th listing on Euronext in 2024
    • The company raised €36.9 million 
    • The market capitalisation at IPO is €103 million

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