Forum President & CEO Rob Nichols’ Statement Federal Reserve, FDIC Feedback on Resolution Plans

The financial services industry is strongly committed to working with the Federal Reserve and the FDIC to ensure effective resolution and recovery planning. The industry not only welcomes, but also needs comprehensive and substantive feedback from the regulators on the living will process.

Read more here.

Commentary: Forum President and CEO Rob Nichols Discusses Recent GAO Report on Large Bank Funding Differential on Bloomberg TV

Appearing on Bloomberg TV’s “Bottom Line”, Financial Services Forum President and CEO Rob Nichols explained that a recent GAO report that examined if a funding differential for large banks exists concludes that any cost of funding differential large banks once had has been dramatically reduced if not eliminated or reversed. Nichols further discussed why any such advantage will not come back in the event of a future crisis, citing the major legislative, regulatory, and industry changes since 2009, and explaining what motivates investor decisions.

In the interview Nichols said: “I think there are many conclusions here that show there’s not a borrowing cost advantage on the part of large institutions. When you add that together with all of the massive reforms that are underway and still being implemented, I think we can make a compelling case that if we want to keep our economy growing, we don’t want to add on and layer additional regulation and legislation at this moment of time.”

Recent Work

4 December, 2014

Merchant Financial Cyber Partnership Announces Next Steps for Securing Payments System

The Merchant Financial Cyber Partnership announced the next steps for the two industries to continue working together to strengthen the security of the payments system. Launched in February, the Partnership has succeeded in its goal to work collaboratively across the payments system to enhance security in order to protect customers and their data from cyber threats.
25 November, 2014

Forum members’ commitment to community

With Thanksgiving and the holiday season upon us, it is an important time to give thanks and recognize all those who give back to their communities. In addition to providing the necessary capital and financial products and services that American families, businesses and the U.S. economy needs to grow and create jobs, the financial services industry makes significant commitments to help serve local communities. From providing investments and volunteers for neighborhood revitalization efforts, teaching job training skills and leadership development, supporting our veterans, and helping small business and entrepreneurs succeed, Forum member companies are making a lasting impact in local communities across the country.
20 November, 2014

ForumBlog: More Capital: Everyone’s Favorite Imperfect Solution

To be sure, sufficient loss-absorbing capital is a critical aspect of any bank’s health and stability. But calls for ever higher capital overlook the significant system-strengthening progress made to date, as well as the reality that additional capital is not without costs or consequences.
15 September, 2014

Forum President Rob Nichols Discusses Impact of Dodd-Frank, State of Financial Industry on ‘Engage with Andy Busch’

Financial Services Forum President and CEO Rob Nichols was a recent guest on “Engage with Andy Busch” where he spoke about the impact of the Dodd-Frank Act on the financial sector as well as the industry-initiated improvements made to ensure the strength and resilience of the financial system.

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

Capital

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