Latest articles from Justin Pugsley

People's Bank of China

China’s shadow banks still manageable – for now

The expansion of China’s shadow banking system has been spectacular – but attempts by the authorities to rein it in have so far only slowed the pace of that growth. Justin Pugsley reports.

Scott O'Malia

Derivatives industry seeks solutions to mitigate regulatory burden

As the derivatives industry suffers an onslaught of regulatory deadlines, firms must consider greater standardisation and more automation of their processes to keep costs down and to make compliance easier. Justin Pugsley reports.

William Perraudin

Europe needs big reforms to revive securitisation

Pushing Europe’s securitisation market up a gear is proving challenging and the European Parliament may have made it more difficult with new proposals leaving many industry participants concerned about the asset class’s revival

Walt Lukken

Global regulators address concerns over too big to fail clearing houses

Regulators look to toughen up clearing houses so they don’t become a weak link in global markets in the event of another financial crisis

Nicholas Pfaff

Regulators starting to catch up with green bond boom

The growth of the green bond market is taking place amid numerous initiatives to define this new asset class, but at some point the market could be well served by having a set of globally recognised standards to guide investors and issuers.

LEIs adoption set for rapid growth

Interest in legal entity identifiers intensified following the financial crisis as they’re seen as an important means of recognising counter-parties, particularly in the OTC derivatives space. New regulations should see their adoption rocket over the next few years 

Banco Popular

Concerns remain as Europe’s banks pass their stress tests

The stress tests of Europe’s banks were deemed by many to have been a success demonstrating that the sector is now in better health than two years ago. However, concerns remain over the banks that were omitted from the exercise and whether the tests were stringent enough.


OTC derivatives clearing rules may not be working as intended

Changes in capital requirements were supposed to make clearing OTC derivatives through central counter-parties a no-brainer. However, research by the US’s Office of Financial Research has found that the case for centralised clearing on a cost basis is somewhat more ambiguous.

European Central Bank

ECB paper proposes tax to regulate shadow bank sector

The shadow banking sector poses a dilemma for policy-makers concerned about its increasing size and potential systemic implementations. Staff at the European Central Bank feel they have an answer to that challenge.

EBA maintains 3% leverage ratio for EU banks

European Banking Authority keeps leverage ratio at 3% for EU banks, the minimum level recommended by the Basel Committee on Banking Supervision.