Spanish National
Commission for Securities Markets (Comisión Nacional del Mercado de Valores – CNMV) published
a report called „Securities markets and their agents: situation and perspectives.“ It confirms that the European sovereign debt
crisis has had a substantial impact on the international financial
markets, and this crisis, not yet fully overcome, has also had adverse effects
on the private debt emissions.
With regards to the gross emissions of fixed rent
registered in CNMV, they decreased by 47% compared to the last year, although
some sectors, like mortgage certificates, maintained the pace of 2009.
The reports states that the holdings of Spanish
investment funds was reduced by 9% during the first semester of 2010. The industry suffers from an elevated
competition pressures, and its aim should be rationalization of the supply
products and reduction of costs. The
activities of the investment services companies (empresas de servicios de inversión – ESI) also suffer from the crisis – the benefit of securities
companies fell by 25%.
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