Latest articles from Justin Pugsley

Smaller UAE banks under regulatory pressure to merge

UAE market widely considered to be over-banked which is seeing regulators applying pressure on them to merge so as to help strengthen the financial system

FSOC sees no immediate threat from crypto assets

Crypto assets do not pose a threat to US financial stability, but are a danger in terms of criminal activities such as money laundering

Fed consults over simplifying its stress testing regime

The Fed is consulting on a number of proposals for the US stress testing regime, which include raising the threshold on bank own stress tests and to move the biggest banks on to a two-year cycle

New York Fed outlines practices for handling confidential market information

New York Fed reviews its policies on handling sensitive market related information to conform with the goals of the Treasury Market Practices Group (TMPG) and the FX Global Code of Conduct

Most central banks sceptical over benefits of launching new digital currencies

Most central banks do not yet see enough potential benefits from launching digital currencies with the greatest interest in them emanating from emerging market countries, according to a BIS survey

European Commission endorses RTSs relating to SFTR

The European Commission has signed off on the regulatory technical standards relating to the rolling out of the second part of SFTR

Basel Pillar 3 disclosure requirements finalised following consultation

Following a consultation in February 2018, the Basel Committee on Banking Supervision has updated its Pillar 3 disclosure requirements covering areas such as credit risk

Basel Committee proposes additional leverage ratio disclosures to prevent regulatory arbitrage

Basel Committee has launched a consultation as it seeks to close possible window dressing efforts by banks to flatter their leverage ratio numbers by asking for more data under Pillar 3 disclosures

Four foreign banks’ resolution plans deemed to have weaknesses

The Fed and FDIC have judged the resolution plans of four foreign banks operating in the US as having weaknesses, but that they are not glaring enough to warrant extra prudential measures

US agencies to allow three year phase in for CECL accounting standards

Three US regulatory agencies have decided to allow banks a three year phase in period to adopt the CECL accounting standard