European Central Bank

Limocoin Launches Merchant Campaign in Burkina Faso Following Record-Breaking Transactions

Retrieved on: 
Monday, January 2, 2023
Bank, Fraud, European Central Bank, Swiss National Bank, Bank for International Settlements, Bank of Japan, Bank of Sweden Tercentenary Foundation, Exchange Bank of Canada, Blockchain, Mali, Cryptocurrency

After a surge in popularity and record-breaking transactions, Limocoin has launched a merchant campaign in Burkina Faso

Key Points: 
  • Burkina Faso--(Newsfile Corp. - January 2, 2023) - Limocoin started its Merchant Campaign in Burkina Faso, France, Cameroon, Sénégal and Mali after it achieved new levels of success in terms of the number of transactions it has processed.
  • Limocoin's merchant campaign is making it possible for merchants and customers in Africa to leapfrog established financial institutions through digital money.
  • Transactions involving Limocoin do not need the customary banking expenditures that are linked with fiat currencies such as deposits, withdrawals, and maintenance fees.
  • Because there are no intermediaries or governments involved in Limocoin transactions, the associated fees are often far lower than those associated with bank transfers.

EQS-News: SREP capital requirements for Commerzbank remain unchanged for 2023

Retrieved on: 
Sunday, January 22, 2023
Pillar, Commerzbank, European Central Bank, Risk, Common equity, Central bank, AT1, MDA, Bank

In the annual Supervisory Review and Evaluation Process (SREP) the European Central Bank has confirmed that the bank-specific capital requirements for the Commerzbank Group remain unchanged for 2023.

Key Points: 
  • In the annual Supervisory Review and Evaluation Process (SREP) the European Central Bank has confirmed that the bank-specific capital requirements for the Commerzbank Group remain unchanged for 2023.
  • The additional own funds requirement for Pillar 2 (P2R) still stands at 2% of total capital, thereof at least 1.125% have to be covered with Common Equity Tier 1 (CET1) capital.
  • The SREP decision replaces the previous SREP decision with effect from 1 January 2023.
  • As of 30 September 2022, the pro forma CET1 requirement for Commerzbank on group level stands unchanged at 9.44% of risk weighted assets (MDA threshold) when applying the new SREP decision.

TRADE REPUBLIC OFFERS 2 PERCENT INTEREST ON CASH FOR ALL CUSTOMERS 

Retrieved on: 
Sunday, January 22, 2023
European Central Bank, Berkshire Hathaway, DGS, Retirement, ECB, James, Hoyer, Newcomer & Smiljanich, P.A., Central bank, ETF, EUR, Federal Financial Supervisory Authority, FOR, Environment, Deutsche Bundesbank, Booking.com, Bank

Trade Republic, Europe’s largest savings platform, is now giving its customers 2 percent p.a.

Key Points: 
  • Trade Republic, Europe’s largest savings platform, is now giving its customers 2 percent p.a.
  • Trade Republic offers a market leading effective interest rate for both new and existing customers.
  • The interest is calculated in real time and paid out monthly, thus enabling customers to accrue compound interest.
  • Trade Republic is the first broker to seize on the opportunity to pay interest on all customers’ uninvested cash assets.

SREP capital requirements for Commerzbank remain unchanged for 2023

Retrieved on: 
Sunday, January 22, 2023
Pillar, Commerzbank, European Central Bank, Risk, Common equity, Central bank, AT1, MDA, Bank

Bettina Orlopp: "With a 13.8% CET-1 rate as of 30 September 2022, we have a comfortable buffer to the MDA threshold."

Key Points: 
  • Bettina Orlopp: "With a 13.8% CET-1 rate as of 30 September 2022, we have a comfortable buffer to the MDA threshold."
  • In the annual Supervisory Review and Evaluation Process (SREP) the European Central Bank has confirmed that the bank-specific capital requirements for the Commerzbank Group remain unchanged for 2023.
  • The SREP decision replaces the previous SREP decision with effect from 1 January 2023.
  • As of 30 September 2022, the pro forma CET1 requirement for Commerzbank on group level stands unchanged at 9.44% of risk weighted assets (MDA threshold) when applying the new SREP decision.

EQS-News: Trade Republic Bank GmbH: TRADE REPUBLIC OFFERS 2 PERCENT INTEREST ON CASH FOR ALL CUSTOMERS

Retrieved on: 
Sunday, January 22, 2023
European Central Bank, Berkshire Hathaway, Retirement, ECB, James, Hoyer, Newcomer & Smiljanich, P.A., Central bank, ETF, EUR, Federal Financial Supervisory Authority, FOR, Environment, Deutsche Bundesbank, Booking.com, Bank

Trade Republic, Europe's largest savings platform, is now giving its customers 2 percent p.a.

Key Points: 
  • Trade Republic, Europe's largest savings platform, is now giving its customers 2 percent p.a.
  • Trade Republic offers a market leading effective interest rate for both new and existing customers.
  • The interest is calculated in real time and paid out monthly, thus enabling customers to accrue compound interest.
  • Trade Republic is the first broker to seize on the opportunity to pay interest on all customers’ uninvested cash assets.

The safe asset potential of EU-issued bonds

Retrieved on: 
Saturday, January 21, 2023
Commission, Directorate, S, RESEARCH, European Central Bank, GDP, European Commission, Central bank, American Economic Review, Safety, Chart, Treasury, Cologne Institute for Economic Research, Time, AA, National Bureau of Asian Research, SURE, Unemployment, Royal commission, Financial management, Private sector, Employment, ECB, Volume, Policy, Journal of Monetary Economics, Support to mitigate unemployment risks in an emergency, Economy, Coronavirus, AAA, National Bureau of Economic Research, COVID-19, NGEU, Credit, Aggression, Attention, Monetary economics, Generation, KfW, Union, Financial economics, United States Treasury security, Public sector, Perception, Leonello d'Este, Marquis of Ferrara, Bank, Security (finance), Textile, Journal, Risk, Daniel Schwaab, Markus Brunnermeier, Eurosystem, Greif, EU

The lack of euro-denominated safe assets and the fragmentation of the market are problematic.

Key Points: 
  • The lack of euro-denominated safe assets and the fragmentation of the market are problematic.
  • In the absence of a supranational euro-denominated safe asset, a flight to safety would entail capital flowing out of vulnerable countries and into safe havens.
  • Both initiatives were proposed in the context of the EU’s response to the recession in the wake of the coronavirus (COVID-19) pandemic.
  • As of December 2021, the amount of outstanding EU bonds had grown to €215 billion in total.
  • The first SURE bonds were issued in October 2020, while the first NGEU bonds were issued in June 2021.
  • By 2028 NGEU volumes are foreseen to reach €800 billion, more than twelve times the level in December 2021.
  • Including the approved funding for other smaller programmes, the total available amount of EU bonds is set to exceed €1 trillion by 2028.
  • This stability of EU yield spreads does not mean that EU bonds will automatically become a supranational euro-denominated safe asset.
  • A safe asset is traded in liquid markets.
  • Market liquidity ensures that investors can sell their asset at any time without causing a major change in the market price.
  • (2022) we also argue that a safe asset’s market liquidity should be sufficiently high to accommodate central banks’ monetary policy operations.
  • Finally, the perception of EU bonds as safe assets also hinges on the continuation of their favourable regulatory treatment.
  • For such an instrument to be viable, a deep and liquid repo market would need to evolve first.

State Street Appoints New Chief Executive Officer for State Street Bank International GmbH

Retrieved on: 
Wednesday, January 4, 2023
Banking, Asset Management, Professional Services, Finance, SE, STT, European Central Bank, Growth, NYSE, SSBI, State Street Corporation, UBS, State, State Street, Continental, Management

State Street Corporation (NYSE:STT) today announced that Dr. Andreas Przewloka has been appointed as executive vice president and chief executive officer for State Street Bank International GmbH (SSBI).

Key Points: 
  • State Street Corporation (NYSE:STT) today announced that Dr. Andreas Przewloka has been appointed as executive vice president and chief executive officer for State Street Bank International GmbH (SSBI).
  • Przewloka, who assumed his new role effective January 1, 2023, reports to Joerg Ambrosius, chief commercial officer for State Street and chairman of the board of SSBI.
  • Przewloka will lead State Street’s custody and investment servicing business across Continental Europe.
  • He joins State Street from UBS where he held various senior leadership positions, most recently serving as chief operating officer of Frankfurt-based UBS Europe SE.

Trade Republic Offers 2 Percent Interest on Cash for All Customers

Retrieved on: 
Wednesday, January 4, 2023
Professional Services, Apps, Applications, Technology, Finance, Banking, Digital Cash Management, Digital Assets, Retirement, Federal Financial Supervisory Authority, EUR, Environment, FOR, ECB, James, Hoyer, Newcomer & Smiljanich, P.A., Berkshire Hathaway, DGS, Central bank, Deutsche Bundesbank, ETF, European Central Bank, Booking.com, Bank

Trade Republic offers a market leading effective interest rate for both new and existing customers.

Key Points: 
  • Trade Republic offers a market leading effective interest rate for both new and existing customers.
  • The interest is calculated in real time and paid out monthly, thus enabling customers to accrue compound interest.
  • With the introduction of the interest, Trade Republic now doubles down on its mission to set up its customers for long-term wealth creation and saving up for retirement.
  • Trade Republic is the first broker to seize on the opportunity to pay interest on all customers’ uninvested cash assets.

First Trust/abrdn Global Opportunity Income Fund Declares its Monthly Common Share Distribution of $0.045 Per Share for January

Retrieved on: 
Tuesday, December 20, 2022
Professional Services, Finance, Government, Terrorism, Fraud, ERISA, FINRA, European Central Bank, New York Stock Exchange, FTP, COVID-19, Movement, Judgement, Risk, LIBOR, Internal Revenue Code section 409A, Disease, Security (finance), NYSE, Infection, AIB (NI), London Interbank Bid Rate, Uncertainty, Central bank, Investment, Organic, Hedge fund, Union, Internal Revenue Code, FAM, FTA, United Kingdom, Financial Conduct Authority, Loss, Vaccine, Fund, Renewable energy, Life insurance, Financial adviser, Financial services, Bank

First Trust/abrdn Global Opportunity Income Fund (the "Fund") (NYSE: FAM) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.045 per share payable on January 17, 2023, to shareholders of record as of January 4, 2023.

Key Points: 
  • First Trust/abrdn Global Opportunity Income Fund (the "Fund") (NYSE: FAM) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.045 per share payable on January 17, 2023, to shareholders of record as of January 4, 2023.
  • The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income.
  • First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
  • FTP is also a distributor of mutual fund shares and exchange-traded fund creation units.

First Trust Dynamic Europe Equity Income Fund Increases its Monthly Common Share Distribution to $0.07 Per Share for January

Retrieved on: 
Tuesday, December 20, 2022
Professional Services, Finance, Janus, Terrorism, Economic development, Plan, Fraud, ERISA, FINRA, European Central Bank, Bangladesh Securities and Exchange Commission, New York Stock Exchange, Social change, FTP, COVID-19, Judgement, Risk, Security (finance), Real estate investment trust, Internal Revenue Code section 1031, Disease, US, City, NYSE, Policy, Infection, Hedge fund, AIB (NI), Uncertainty, Central bank, Investment, Union, Internal Revenue Code, FTA, Indian stock exchange, Loss, NAV, Vaccine, REIT, Janus Henderson, Trustee, Real estate, Renewable energy, Life insurance, Financial adviser, Bank, Financial services, EU, Euro, Fund

First Trust Dynamic Europe Equity Income Fund (the "Fund") (NYSE: FDEU) has increased its regularly scheduled monthly common share distribution to $0.07 per share from $0.06 per share.

Key Points: 
  • First Trust Dynamic Europe Equity Income Fund (the "Fund") (NYSE: FDEU) has increased its regularly scheduled monthly common share distribution to $0.07 per share from $0.06 per share.
  • Under the Plan, the Fund intends to continue to pay a monthly distribution in the amount of $0.07 per share.
  • This distribution may consist of net investment income earned by the Fund, net short-term and long-term capital gains and/or tax deferred return of capital.
  • The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income.