Latest articles from Justin Pugsley

EU flag

Bond diversification may not break 'doom loop' for all European banks

Moves are afoot within the eurozone to force banks to diversify their holdings of bonds for regulatory capital to help end the 'doom loop' between banks and their host countries. However, a new paper argues that such efforts could be counterproductive

Chinese flag

Asifma calls on China to make further asset management reforms

Asifma has laid out a series of recommendations covering regulatory clarity, taxation and guidance that it hopes the Chinese authorities will apply to the oversight of foreign asset managers

For sale sign

New paper finds real estate booms have two-phase impact on credit supply

A new paper published by the ECB raises interesting questions about the transmission mechanisms of property bubbles and suggests that they have a potentially distortionary impact on the supply of credit to other parts of the economy

European Central Bank

ECB takes over direct supervision of Latvian bank

Latvia’s PNB Banka has won a case to see itself supervised by the ECB rather than its home regulator amidst a background of corruption claims and accusations of unfair treatment

Standard setters give regulatory relief for some legacy swaps

Global standard setters said legacy non-centrally cleared derivative contracts do not need amending to address interest rate benchmark reforms and do not need to apply margin requirements.

PRA and FCA host first Climate Financial Risk Forum meeting

The UK’s regulators hosted the first meeting of the Climate Financial Risk Forum (CFRF) where it was decided to set up four working groups to focus on risk management, scenario analysis, disclosure, and innovation.

Academic warns about potential ETF systemic risks

Exchange traded funds (ETFs) could exacerbate price swings during periods of market volatility and trigger a systemic event, warned an academic.

Transaction tax aimed at high frequency traders proposed

Europe is not the only place where there are calls for a financial transaction tax, with Peter DeFazio, a Democrat in the US House of Representatives, calling for one that specifically targets high frequency trading (HFT).

US and Singapore recognise each others’ derivatives trading venues

US and Singapore announced on March 13 that they have decided to grant mutual recognition regarding certain derivatives trading venues.  

Germany consultation highlights clash over MiFID’s open access

Responses to the German Finance Ministry’s consultation on its implementation of EU markets and infrastructure rules one year on showed a distinct clash of views over a particular area of competition.