Latest articles from Justin Pugsley

Bank of England sees banks as resilient to growing economic and geopolitical risks

Russia's invasion of Ukraine, increasing economic uncertainty, volatile markets and crypto technology have all been highlighted as risks to the UK financial system by the Bank of England’s Financial Policy Committee (FPC). 

City of London

UK financial services stabilise five years on from triggering Brexit

Five years after the UK triggered Article 50 of the Lisbon Treaty to leave the EU, the movement of capital and financial staff to the bloc appears to have stabilised, according to the EY Financial Services Brexit Tracker. 

BoE teams up with MIT as part of its exploration of CBDCs

The Bank of England is partnering with MIT Media Lab’s Digital Currency Initiative (DCI) team to explore potential technical challenges, trade-offs, opportunities and risks involved in designing a UK central bank digital currency (CBDC) system.

FSB work programme to focus on galvanising global financial stability

Galvanising international co-operation around financial stability, enhancing resilience of shadow banks and cross-border payments and innovation are all part of the Financial Stability Board’s (FSB) 2022 work programme. 

US Fed’s earnings surged in 2021

Earnings by the Federal Reserve system rocketed to $107.9bn last year from $19.4bn the year before, the central bank said on March 21.


ISSB unfurls new standards to drive ESG consistency for investors

Fears that greenwashing could undermine the credibility of environmental, social and governance (ESG) investment data has seen the newly formed International Sustainability Standards Board (ISSB) publish two sets of standards to establish a global baseline for sustainability disclosures.


FCA extends temporary licensing regime for crypto firms

The Financial Conduct Authority (FCA) has been forced to extend its temporary licensing regime (TLR) for crypto-asset firms as it struggles to assess them in an efficient, but stringent manner. 

SEC ESG disclosure plans could be undermined by data gaps

US listed companies look set to be required to make ESG related disclosures, such as their plans to transition towards climate friendly activities, the US Securities Exchange Commission (SEC) said on March 21. 


Biden calls for agencies to study risks and benefits of digital assets

US president Joe Biden has ordered regulators to study the pros and cons of digital assets, which was welcomed across the financial industry, even triggering a bitcoin rally.

US gradually catching on bank climate change policies

The US is slowly closing in on Canadian and west European regulators on the implementation of climate change rules for banks, according to a Fitch Ratings report on February 17.