Press Releases

­
13April, 2016

Forum Statement on Federal Reserve, FDIC Feedback on Resolution Plans for Large Financial Institutions

Tags: , |

“Over the past six years enormous progress has been made to improve the safety, stability, and resilience of the U.S. financial system. Capital has doubled, liquidity has tripled, and annual stress tests show that large financial institutions can withstand a crisis far worse than 2008. Since the last living wills determinations, large financial institutions have worked strenuously to implement structural changes, streamline business models and lower risk in line with feedback received from the Federal Reserve and FDIC. By design, the living will process is iterative and will be ongoing, and the industry remains committed to continuing to work with regulators to ensure effective resolution and recovery planning."

4April, 2016

Forum Statement Ahead of Minneapolis Fed’s Policy Symposium

Tags: |

“Since he left government to enter politics, it seems Mr. Kashkari hasn’t kept up to date with the many ways in which US-based global financial companies have become simpler, stronger, and more streamlined to serve their customers and clients and drive the real economy. Since none of those financial institutions are within the jurisdiction of the Minneapolis Federal Reserve Bank, it isn't clear why this is his area of interest now, but hopefully some of the progress that has been made will be discussed today in Minneapolis.”

22February, 2016

Financial Industry Associations: Total Loss Absorbency Requirement to Help Ensure G-SIBs Can Be Resolved

Tags: , |

Today, The Clearing House, the Securities Industry and Financial Markets Association, the American Bankers Association, the Financial Services Roundtable, and the Financial Services Forum submitted comments to the Federal Reserve in response to its proposal to impose total loss absorbing capacity, long-term debt and related “clean holding company” requirements on global systemically important banking groups (G-SIBs). The associations express the industry’s strong support for a TLAC requirement for G-SIBs, which is a crucial aspect of ending “Too Big to Fail” by helping ensure that these institutions can be resolved in an orderly way at the expense of creditors and shareholders (and not taxpayers).

21February, 2016

Forum Joins U.S. and EU Entities Urging TTIP to Include Full Coverage of Financial Services to Address Market Fragmentation

Tags: , |

"As the United States (U.S.) and the European Union (EU) enter the 12th round of negotiations of the Transatlantic Trade and Investment Partnership (TTIP) the financial and related professional services industry continues to support an "ambitious, comprehensive, and high-standard trade and investment agreement. In order for TTIP to realize its full potential, we believe any agreement should treat financial services like every other sector in the negotiations and be dealt with in a comprehensive manner, primarily by including a framework for financial services regulatory cooperation but also through solutions to outstanding market access issues."

16February, 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. "

20July, 2015

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

“Over the past five years, through legislative, regulatory, and industry-initiated changes, significant improvements have been made to strengthen the U.S. financial system. Bank capital and liquidity have more than doubled to record levels, leverage has been reduced, risk management procedures and methodologies have been improved, compensation structures have been reformed to align incentives with the safety and soundness of the institution, and large financial institutions are less complex."