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You are here: Home / Archives for survey

Federal Reserve Board begins 2019 Survey of Consumer Finances

February 14, 2019 by Reg Hub Leave a Comment Filed Under: Central Bank News Tagged: Federal Reserve Board, Jerome Powel, NORC, survey, University of Chicago

The Federal Reserve Board in March will begin its Survey of Consumer Finances, a statistical study of household finances that will provide policymakers with important insight into the economic condition of a broad cross section of American families.

The survey has been undertaken every three years since 1983. It is being conducted for the Board by NORC, a social science research organization at the University of Chicago, through December of this year.

The data collected will provide a representative picture of what Americans own (from houses and cars to stocks and bonds), how and how much they borrow, and how they bank. Past study results have contributed to policy discussions about the recovery of households from the Great Recession, changes in the use of credit, the use of tax-preferred retirement savings accounts, and a broad range of other issues.

“This survey is one of the nation’s primary sources of information on the financial condition of different types of families,” Federal Reserve Board Chairman Jerome Powell said in a letter to prospective survey participants. “Our previous surveys…have helped the Federal Reserve and other parts of the government make policy decisions and have also supported a wide variety of basic research, public discussion, and education.”

Participants in the study are chosen at random from 128 areas, including metropolitan areas and rural counties across the United States, using a scientific sampling procedure. A representative of NORC contacts each potential participant personally to explain the study and request time for an interview.

“I assure you that we give the highest priority to guarding the privacy of all survey participants and the confidentiality of their answers,” Chairman Powell said. NORC uses names and addresses only for the administration of the survey, and that identifying information will be destroyed at the close of the study. NORC is forbidden from giving the names and addresses of participants to anyone at the Federal Reserve or anywhere else.

Summary results for the 2019 study will be published in late 2020 after all data from the survey have been assessed and analyzed.

The attached letter from Chairman Powell will be mailed in mid-March to approximately 13,000 households urging their participation in the study.

Survey Finds Crypto Interest in American Advisors

February 4, 2019 by Michael Volpe Leave a Comment Filed Under: Feature Articles Tagged: Bitwise, crypto, crypto assets, ETF, survey

Bitwise, which provides technology consulting, recently published a survey of American investment advisors and their appetite for crypto-currencies.

“Ignoring crypt is no longer an option for financial advisors,” the survey concluded. “As the inaugural Bitwise/ETF Trends Survey for Investment Advisors Attitudes Toward Crypto-assets shows, clients are interested, asking questions, and often investing on their own.”

Half-of-American-Millennials-Interested-in-Using-Crypto

“Smart advisors are taking action,” the survey continued, “For some, that means learning about crypto, so they can give smart answers to tough questions; for others, it means allocation to crypto in client portfolios. Still other advisors will likely look to build their business around crypto expertise, targeting new and younger demographic than many peers.”

The survey found that 79% of investment advisors were asked about crypto-assets, 9% had some crypto in their clients’ portfolios, and 55% expect crypto to appreciate between now and 2023.

Of those who hold crypto-assets, the survey found, “A strong majority of these advisors were independent RIA’s (69% of yes respondents), while zero wirehouse reps had crypto-assets.” An RIA is a Registered Investment Advisor. “Of note, a strong majority of investment advisors with client assets in crypto also had personal investments in crypto.”,the survey also found.

The investment advisors surveyed who have money in crypto-assets said its “non-correlated nature” was its most attractive feature. “The attribute that most attracted financial advisors to the idea of adding crypto-assets to their client portfolios was the low or non-correlated nature of crypto returns compared to traditional assets.” The survey noted.

Forty-two percent of respondents felt this way, according to the survey.

When asked why an investment advisor was not participating in crypto assets, the two most common responses were “no idea how to value them” by 43% of respondents and “regulatory concerns” by 42% of respondents, and “crypto-assets are associated with criminal activity” by 15% of respondents.

When asked what would make them more comfortable investing in crypto assets in the future, 54% said “better regulation”, 37% said “better custodial relationships”, 36% said “better education”, and 35% said “the launch of an ETF.”

On that note, 64% of investment advisors preferred crypto investment in an ETF while only 21% preferred a direct investment into a specific crypto asset.

Bitwise “delivers technology solutions that leverage data to enable business insights. By deploying our breakthrough technology innovations, we help our global clients maximize their competitive advantage. We are the industry’s most experienced and dedicated team of data professionals, optimizing value for our clients through our global delivery model and with our proprietary technology tools that reduce the time, complexity and cost of data initiatives. Together, our people and technology provide the insights clients need to continue to lead in their fields.” According to its website.

ICE Benchmark Administration Launches Survey on the Use of LIBOR

December 8, 2018 by industryspread Leave a Comment Filed Under: Regulatory Annoucements Tagged: business, FCE, Financial Conduct Authority, financial system, Intercontinental exchange, LIBOR, regulations, survey, The ICE

ICE LOGOLONDON–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the launch of a survey by ICE Benchmark Administration (IBA) on the use of LIBOR currencies and tenors.

The survey on the use of LIBOR is open to all users of LIBOR and will close for responses on February 15, 2019.

The purpose of the survey is to identify the LIBOR settings that are most widely used. IBA will use the results of the survey to inform its work in seeking the support of globally active banks for the publication of certain LIBOR settings after year-end 2021. The primary goal of this work would be to provide those LIBOR settings to users with outstanding LIBOR-linked contracts that are impossible or impractical to modify. Any such settings would need to be compliant with relevant regulations and in particular those regarding representativeness.

IBA’s work in seeking the support of banks for the publication of certain LIBOR settings after year-end 2021 is also designed to facilitate the industry’s work towards an orderly adoption of alternative ‘risk-free‘ reference rates (RFRs) into the financial system, as called for by the Financial Conduct Authority (FCA) and the central banks. ICE supports this work and IBA has recently launched the ICE Term RFR Portal and published a paper showing how IBA can support the development of term structures for alternative RFRs. Work on the possible continued publication of certain LIBOR settings is not intended as an alternative to the transition to RFRs for new business.

Regardless of the results of the survey, there is no guarantee that any LIBOR settings will continue to be published after year-end 2021. Users of LIBOR should not rely on the continued publication of any LIBOR settings when developing transition or fall back plans.

IBA encourages all licence holders and other users of LIBOR to complete this survey.

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