Latest articles from Justin Pugsley

Wind and solar

Mixed evidence that green bonds are accelerating transition to low carbon economy

Are green bonds really playing a part in decarbonising the economy? The BIS, for one, has some doubts and to help make sure these securities more closely match their moniker, it has suggested a carbon rating system specifically for firms

Dutch regulator calls for overhaul of MiFID II transparency rules

The transparency focus of the the Markets in Financial Instruments Directive II has been counterproductive for European fixed income and derivatives markets, the Dutch Authority for the Financial Markets has said

FSB extends SFT implementation deadlines by one year

An extension to deadlines for minimum haircut standards for non-centrally cleared securities financing transactions has been announced by the Financial Stability Board to ease pressure on market participants and authorities struggling with the fallout from the Covid-19 pandemic. 

European banks face slow recovery from Covid-19 pandemic

The profitability of big European banks is likely to remain under pressure in the third quarter as banks continue to notch up expected credit loss provisions due to the negative economic impact of the Covid-19 pandemic, according to Fitch Ratings

Capital requirements will eventually be influenced by climate stress tests

Prudential capital requirements for European banks will eventually be influenced by climate change stress tests said Fitch Ratings in a report as supervisors increasingly see the phenomenon as a looming threat

GET Australian Senate 1207984878

Senate suggestions to quickly boost Australian fintech prove controversial

A senate committee has put forward 32 recommendations to produce some quick wins for the Australian fintech and regtech sectors, but its approach on some areas has upset Labour politicians and consumer protection groups

Pentti Hakkarainen

Fragmented approaches undermine the promise of suptech

Like the financial industry itself, regulators are being forced to turn to technology to do their roles better, but their disjointed approach is holding back the potential of suptech.

Singapore looking to allow foreign banks to set up digital-only subsidiaries

The Singapore Monetary Authority (MAS) said it is thinking of allowing foreign banks with a significant local presence to open digital-only banking units. 

Fair value rule change could resurrect bank-sovereign ‘doom loop’, warns Fitch Ratings

EU banks could increase their carry trades in response to new rules insulating them from reporting fair value in response to movements in their sovereign bond holdings, according to a report from Fitch Ratings, with the risk that it could reinforce the sovereign-bank nexus that contributed to the last European sovereign debt crisis.

Ryozo Himino appointed to lead Japan’s FSA

Ryozo Himino took over from Toshihide Endo as commissioner of Japan’s Financial Services Agency (FSA) and will focus on keeping the country’s financial regulatory frameworks in line with global rules.