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Date
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March 14, 2023
Sector

Moody’s: solid balance sheets limit contagion for EU banks

A solid balance sheet structure will help European banks buffer stressed market conditions following the collapse of their US peers Silicon Valley Bank, Signature Bank and Silvergate Bank, credit agency Moody’s said.  Bank failures typically point to …
March 14, 2023
News,Investing

Pace of rate hikes seen slowing after SVB collapse

Financial markets on Monday appeared to position themselves for a slower pace of rate hikes in the US, or even a pause, amid talk and expectations that the Federal Reserve may adopt a more cautious monetary policy following the collapse of Silicon Valley …
March 14, 2023
Laws and Regulations,Asset Servicing

Cross-border distribution of funds: ManCos fear gold plating

Luxembourg management companies, also known as “ManCos”, are drawing attention to the increasing reporting burden that often lands on their shoulders when European level regulation, such as the cross-border fund distribution directive, is passed. These …
March 13, 2023

PwC Luxembourg announces new country leadership team

Consulting and accounting firm PwC Luxembourg has announced its new “country leadership team” after a vote by the firm’s partners on 10 February 2023. The team which, according to the PwC press release, collectively possesses “a wealth of local and …
March 13, 2023
Investing,Opinion

Chart of the Week: Are equities complacent?

Powell opens the door to a 50-basis-point rate hike, interest rates shoot up and equities crash. And yet, at the time of writing, the VIX index is below 20, raising the question of whether equities are not a bit complacent. You can probably already hear a …
March 13, 2023
Opinion,Laws and Regulations

Financial regulation in Luxembourg: what’s coming?

The Commission de Surveillance du Secteur Financier (CSSF) is working relentlessly to further build a financial system that is safe, transparent, and reliable. To achieve this goal, the supervisors of the Luxembourg financial sector collaborate closely …
March 13, 2023
Investing

BlackRock sees declining inflows for global ETFs

Inflows into global equity and bond ETFs have been declining for five months in a row, and for the first time since March 2018, money flowed out of US equity ETFs for two consecutive months. This is according to BlackRock’s monthly ETF report. In …
March 12, 2023
Sector,Supervision

SVB crash: ECB is concerned over rate risk management

Answering questions about the bank run on Silicon Valley Bank, the European Central Bank on Sunday underlined its concerns over how European banks are managing risks relating to increasing interest rates. The ECB has recently made clear that a supervisory …
March 10, 2023
News

Biggest US bank bust since 2008 exposes interest risks

Has the sudden collapse of Silicon Valley Bank ignited fears of a new financial crisis? Or is its demise incidental, offering investors an excuse to take profits on attractive gains that bank sector stocks booked in recent months? As European financial …
March 10, 2023

EY Luxembourg committed to demerger as vote is delayed

A decision by consultancy EY to split its business into separate entities for audit services and management consultancy has been pushed back to later this year because of the “complexity” of Project Everest, as the plan is internally known. EY Luxembourg …