Latest articles from Justin Pugsley

FINMA tells banks to establish frameworks for managing climate risk

Banks and insurers operating in Switzerland are expected to establish frameworks for managing climate risk based on established practices and relevant to their individual businesses.

EU banks update their SREP requirements

A sample of 17 of the EU’s largest banks by rating agency Scope Ratings found that six had to increase their Pillar 2 Capital requirements following the annual Supervisory Review and Evaluation Process (SREP) undertaken by supervisors.

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Some US banks too big to manage and could be broken up

Some US banks are so large now that they could be too big to manage (TBTM) and therefore may need breaking up, said Michael Hsu, acting comptroller of the currency.

ESMA advises use of DTIs as part of its digital asset reporting pilot

Market participants are being advised to use digital token identifiers (DTIs) by the European Securities and Markets Authority (ESMA) in relation to its reporting pilot for digital assets.

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A digital euro would not be a lurch towards a dystopian future, says ECB official

The digital euro would never be programmable nor undermine personal privacy, a European Central Bank (ECB) official told the European Parliament in a bid to defuse fears that it could represent a slippery slide towards a dystopian society.


Crypto's advance already threatening some developing countries

Emerging market countries face growing financial threats to their banking systems and monetary sovereignty from the crypto-isation of their economies.

OCC asks for academic input on identifying emerging financial risks

Academics are being asked by the Office of the Comptroller of the Currency (OCC) to provide research papers identifying emerging risks in the banking system or related policy and supervisory issues by March 3.

Rick Rule

Rush to phase out fossil fuels could trigger financial instability

Policy-makers are making a concerted effort to steer the financial sector away from supporting fossil fuel producers, creating opportunities for new lenders but some worry about the impact on the global economy. 

Sassan Danesh

DSB to detail UPI work timelines in March

The Derivatives Service Bureau's unique product identifier aims to help regulators track potential systemic risks within the OTC derivatives market. 

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Banks probe deeper into their supply chains to keep regulators onside

Discussions around operational risk are rippling further down bank supply chains due to regulators taking more interest in resilience as digitisation gains momentum. However, there are concerns that not enough attention is being paid to future proofing risk management.