ForumBlog: Banking Sector Concentration Post Dodd-Frank

In a recent ForumBlog post, Financial Services Forum Vice President of Government Relations and Public Policy Nat Hoopes disputes misconceptions about large bank growth. Hoopes points out that since the crisis the largest banks have grown much more slowly than their smaller peers, and therefore have been losing market share, resulting in a less concentrated financial sector.

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Commentary: Forum President And CEO Nichols Discusses How Financial System is More Safe, Sound Than Ever Before

Financial Services Forum President and CEO Rob Nichols recently appeared on CNBC’s “Squawk Box,” where he detailed the legislative, regulatory and industry changes that have occurred over the past five years to make our financial system safer and more secure.

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22 July, 2014

ForumBlog Responds to Bloomberg View: The U.S. Financial System is Far Stronger and More Resilient

In this week’s piece, Dodd Frank’s Four Years of Doing Nothing, Bloomberg View editors fail to mention material and important changes that have taken place in the financial system since the crisis that undercut the thesis of their column. To be fair, this was an opinion piece and opinions are one thing, but let’s review the facts on the changes that have taken place – initiated by the industry, regulators and Congress – to make today’s U.S. financial system safer, less complex and capable of providing capital to fuel the economy.
21 July, 2014

Forum Statement on Four-Year Anniversary of Dodd-Frank Act

“In the years since the financial crisis the industry, Congress, and regulators have implemented a wide range of significant improvements to ensure the strength and resilience of the financial system. Regulators have a host of new tools available, bank capital and liquidity levels have doubled, leverage has been substantially reduced, compensation practices have been aligned with long-term performance, and consumers have strong new protections. Today’s financial system is safer, less complex and more transparent to consumers and investors – and America is setting the global standard for financial system safety and soundness. The financial services industry remains committed to continuing to work to ensure the sector is strong, transparent, and able to provide necessary capital for working Americans without taxpayer dollars ever being put on the hook again.
17 July, 2014

ForumBlog: Section 165 of the Dodd-Frank Act Establishes an Iterative Process of Submission and Review of Living Wills

During the semi-annual Humphrey-Hawkins testimony of Federal Reserve Chair Janet Yellen before the Senate Banking Committee on Tuesday, July 15th, Senator Elizabeth Warren (D-MA) questioned Chair Yellen about the Federal Reserve’s review of resolution plans, commonly referred to as “living wills,” which is part of Section 165 of the Dodd-Frank Act and requires large bank holding companies and large nonbank financial companies supervised by the Fed to submit to the Fed and FDIC each year. Such plans are intended to facilitate the bankruptcy and orderly dismantling of an institution in the event of failure. Chair Yellen correctly responded that Dodd-Frank establishes an iterative process of submission of living wills by supervised institutions, review of those submissions by the Fed and FDIC, notification of the supervised institutions regarding any needed improvements, and re-submission of amended plans.
17 July, 2014

ForumBlog: Financial Services Regulations in TTIP – Little to Fear, Lots to Gain

TTIP isn’t a big issue on the radar in Washington, but it really should be if we care about U.S. jobs. The TTIP - along with the negotiation of a U.S.-China Bilateral Investment Treaty - offers a massive opportunity for the U.S. economy by increasing market opportunities for U.S.-based financial services firms. Defying the “Great Recession,” America’s export of services have grown approximately 30% since 2008, and, according to the International Trade Administration, now support almost 3 million U.S. jobs. Unfortunately, without a shift in approach on regulatory issues, the huge market access opportunities in Europe that the Obama Administration says it still seeking in the TTIP talks may remain elusive.

U.S. Global Banks Have More Than Doubled Their Capital Ratio Since 2009

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