Latest articles from Justin Pugsley

FDIC praises banks' ability to support economy through pandemic

The Federal Deposit Insurance Corp has praised the banking sector for being able to support small businesses and communities through the first half of 2020

Fed acknowledges climate change threat to financial stability

The US Federal Reserve has acknowledged the threat of climate change, binging it in line with other central banks and global standard-setting bodies.

US faces formidable and complex challenges from Covid-19 pandemic

The US's recovery from the Covid-19 pandemic depends on banks actively lending while being honest about their losses, the Senate Committee on Banking, Housing and Urban Affairs has heard.

ESMA instructs exposed funds to prepare for future shocks

Investment funds with significant exposures to corporate debt and real estate assets have been told by the European Securities and Markets Authority (ESMA) to anticipate potential future adverse liquidity and valuation shocks.

Eurozone ‘doom loop’ has been weakened by ECB actions

The phenomenon whereby widespread bank distress depresses sovereign bonds values, turning into a self-reinforcing downward spiral, has been weakened due to the actions of the European Central Bank (ECB), according to an academic study. 

FINMA launches consultation on climate risk transparency for financial sector

FINMA is consulting over financial institutions’ transparency in light of the threat of climate change

Trade associations launch Asia-Pacific charter to drive market consistency

A group of industry associations have come together to launch an Asia-Pacific Indications of Interest (IOIs) charter to provide transparency and consistency for market participants.

Covid-19 pandemic sees FINMA identify new risk to financial institutions

The Swiss Financial Market Supervisory Authority has identified possible Covid-related defaults and adjustments to corporate loans or bonds a new key risk to financial institutions. 

Richard Crecel

Higher capital buffers give banks more flexibility to recover collateral

Banks have entered the current crisis much better capitalised than the last one, meaning they may have the luxury of timing when it comes to realising collateral on the coming surge in non-performing loans  

EBA to publish its transparency exercise on Dec 11

The European Banking Authority said it will publish its 2020 risk assessment report and transparency exercise on December 11.