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So far Editor has created 208 blog entries.

Forum, Other Organizations Supporting EU-U.S. Financial Services Marketplace Form New International Coalition for Transatlantic Cooperation in Financial Regulation

An international group of fourteen trade associations and business groups recently announced the formation of a Transatlantic Financial Regulatory Coherence (TFRC) Coalition. The Coalition, which represents a large part of the transatlantic financial services community, has been brought together by a strong and shared belief on both sides of the Atlantic that improving regulatory cooperation between the U.S. and EU must be a priority. It believes that a comprehensive Transatlantic Trade and Investment Partnership (TTIP) that includes both market-opening measures and a framework for regulatory coherence in financial services is the best way of achieving this.

June 7th, 2016|

Forum Statement on Minneapolis Fed President Kashkari’s Brookings Institution Speech

“The largest financial institutions are smaller and less complex with twice the capital and triple the liquidity since Mr. Kashkari left government to enter politics. The Fed’s stress tests show that large financial institutions can withstand a crisis far worse than 2008, and the largest banks have 'living wills' to guide an orderly wind-down without putting taxpayer money at risk. "

February 16th, 2016|

Wall Street Journal: Proposal Would Use Some Fed Bank Dividends for Highway Funding

Banks have concerns too. In a letter last week to the leaders of the Senate Environment and Public Works Committee, several banking trade groups warned the proposal could hurt financial stability and reduce liquidity. “This proposed policy change undermines a key agreement that has underpinned the U.S. banking system for 100 years,” wrote the groups, which included the American Bankers Association, Financial Services Forum, Financial Services Roundtable, Independent Community Bankers of America and the Clearing House.

July 21st, 2015|

Joint Bank Trades Letter Opposing Senate Proposal to Reduce Federal Reserve Dividend

Joint Banking Trade Letter: "The undersigned banking trade associations, representing financial institutions of all sizes, are writing to express our strong opposition to a proposal that is being considered to offset funding to reauthorize the Highway Trust Fund. In fact, this proposal would, for the first time since the creation of the Federal Reserve and without any analysis or study of any kind, reduce the dividend that the Federal Reserve pays on the stock that banks are required to hold as members of the Federal Reserve System."

July 16th, 2015|

Letter to the Editor: Fighting Cyberattacks: A Financial Industry View

The “shortcomings” referred to in this editorial are in fact critically important legislative fixes that will empower businesses and government agencies with the best information to protect consumers and stay ahead of the rapidly evolving and increasingly malicious nature of cyberattacks. Businesses and government need the ability to learn from each other regarding the nature and location of cyberattacks. This sharing of information will enable the public and private sectors to continually improve network security and protect Americans’ information from cybercriminals.

May 25th, 2015|

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.

December 4th, 2014|

Forum Statement on Fed, 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. Since 2009, substantial changes have made the financial system stronger, including banks' doubling of capital and liquidity, changing compensation structures, and the divestiture of many business lines to simplify the largest institutions.

August 5th, 2014|

Wall Street Journal: U.S. Tells Big Banks to Rewrite ‘Living Will’ Bankruptcy Plans

The Financial Services Forum, a big bank trade group, said banks are safer now than before the crisis and "the industry remains strongly committed to ensuring the financial system is less complex, safe, transparent, accountable and capable of fulfilling its role of promoting economic growth and weathering substantial stress scenarios without taxpayer dollars being at [...]

August 5th, 2014|

ForumBlog: Why a too-big-to-fail ‘subsidy’ won’t come back in a future crisis

The long awaited Government Accountability Office (GAO) report, requested by Senators Sherrod Brown (D-OH) and David Vitter (R-LA), confirms the findings of a number of recent studies on the decline in funding advantage for the largest U.S. banks. Using the most recent data, and a number of different methodologies on bank funding, the report shows that any advantage for America’s largest banks that is attributable to expectations of another bailout has declined to a minuscule amount or even been reversed. That fact, coupled with the costs of new regulation for the largest six institutions, means that being above $500 billion in assets is now, quite possibly, a competitive disadvantage.

July 31st, 2014|

Washington Examiner: Here’s what the much-anticipated GAO report on whether banks are ‘too big to fail’ found

Nevertheless, the GAO’s conclusions were welcomed by financial industry associations that have maintained that large banks do not enjoy an advantage from potential bailouts. “The GAO’s findings show the impact of the numerous legislative, regulatory and industry-led reforms that have made the U.S. financial system much less complex, stronger and more resilient,” Financial Services Forum [...]

July 31st, 2014|