Latest articles from Justin Pugsley

Democrats promise more scrutiny following midterm election gains

The US financial deregulation agenda faces greater scrutiny and friction following electoral gains by the Democrats

SEC asks for public comment on wide range of its rules

General public given the opportunity to comment on whole raft of SEC rules, but generally few bother to do so

Fed warns over high leverage building up in the economy

In its first stability report, the US Federal Reserve Board has flagged up a range of leverage-related and geopolitical issues, which pose risks to the financial system

US agencies pondering refinements to living wills for banks

Speaking at a recent banking conference, FDIC chairwoman said the FDIC and Fed are looking at ways to simplify bank resolution planning and to make it more proportionate to a banks size and complexity

Jennifer O'Connell

EU benchmark rules raise systemic fears in Asia-Pacific

The EU’s benchmark regulation is causing considerable anxiety in Asia-Pacific, as it could leave some European investors cut off from the region – with potentially systemic consequences. By Justin Pugsley.

Bank of England

Authorities reinforce determination to move markets to RFRs

Regulators are stepping up pressure for markets to shift to using risk-free reference rates, as shown by a recent Financial Stability Board report. However, market participants are still grappling with a host of issues to smooth transition. By Justin Pugsley.

Growing risk of fines could threaten bank credit ratings

Banks potentially face a growing risk of credit downgrades as regulators become more aggressive in clamping down on money generated from crime. Justin Pugsley reports.

BoE logo

New paper finds non-centrally cleared interest rates swaps are more expensive

A research paper finds that non-centrally cleared interest rates swaps are more expensive than centrally cleared equivalents, but it also raises questions over the tendency for participants to shift to bilateral deals during periods of intense market volatility

APRA reconsidering regulatory approach following Royal Commission’s findings

Following findings from Australia’s Financial Services Royal Commission, APRA is likely to review its regulatory approach and focus much more on conduct issues

RFR working group encouraged by small take up of rivals to Ibor rates

RFR Working Group encouraged by small, but growing momentum to use reference rates put forward as alternatives to discredited Ibors