Latest articles from Justin Pugsley

ESFRC promotes idea of EU-UK post-Brexit regulatory committee

Should the UK eventually leave the EU, the two jurisdictions should establish a high-level regulatory committee made up of supervisors from both sides to maintain financial stability, said the European Shadow Financial Regulatory Committee (ESFRC) in a statement.

Fed provides more information on 2019 stress tests

As part of its commitment to greater transparency, the US Federal Reserve Board has released more details about how it will stress test banks under its watch.

Limits proposed on G-SIBs buying each others' TLAC debt

US regulators are consulting on measures to discourage globally systemically important banks (G-SIBs) from purchasing large amount of each others' total loss-absorbing capacity (TLAC) debt in a bid to reduce interconnectedness between large banks.

Basel Committee to decide on prudential treatment of crypto-assets

In due course the prudential treatment of crypto-asset exposures by banks is to be clarified to reflect their high degree of risk, the Basel Committee on Banking Supervision said in a statement, which included guidelines on how banks should manage this type of asset.

US and UK upgrade information sharing agreement in case of Brexit

US and UK financial regulators sign pact around information sharing should the latter leave the EU.

Fed vice chairman outlines plans to keep FSB relevant

Maintaining the relevance and vitality of the Financial Stability Board will be based on three key tenets: engagement, vigilance and analysis, said Randal Quarles, vice chairman for supervision at the Federal Reserve Board and chair of the FSB.  

European Central Bank

Latest EU stress tests reveal some concerns

The EU’s bank stress tests have become a familiar part of Europe’s supervisory processes. However, the latest exercise has raised concern over the state of some banks as well some criticism over how it is conducted

Third country access to EU financial markets contingent on equivalent rules

Financial firms based in third countries will face much greater scrutiny when selling services into the EU, following a deal struck between the European Commission, EU governments and the European parliament.

US and UK move to safeguard derivatives markets post-Brexit

US and UK authorities have agreed measures to ensure the smooth functioning of derivatives markets and to safeguard against any potential Brexit-related disruptions and to remove uncertainty.

Basel Committee discusses margins, benchmarks, crypto-assets and work programme

The Basel Committee discussed margin requirements for non-centrally cleared derivatives, interest rate benchmarks, crypto-assets, the net stable funding ratio and Basel III implementation by members at its meeting on February 27-28.