Financial Regulation

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Press Release: Financial Trade Associations Comment on Banking Agencies’ Newly Issued Report on Banking Activities and Investments

In response to the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency’s report on banking activities and investments, Financial Services Forum, The Clearing House, American Bankers Association, SIFMA, and Financial Services Roundtable released a joint statement opposing the recommendations.

September 8th, 2016|

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

“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."

April 13th, 2016|

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

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).

February 22nd, 2016|

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.

September 15th, 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.

July 22nd, 2014|

Financial Associations Send Comment Letter on Bank Involvement in Commodities

“Allowing financial holding companies to continue to conduct physical commodities activities, all while applying the right safeguards, is a critically important step toward ensuring the global competitiveness and openness of our American markets,” said Rob Nichols, President and CEO of the Financial Services Forum. “And that is why bank customers across various industries have voiced their strong support for allowing banks to continue to operate in this space.”

April 17th, 2014|

European Commission report urges financial services inclusion in U.S.-EU trade pact

On Monday, the European Commission released a proposal that calls for the creation of a framework for cross-border regulatory cooperation in financial services as part of the United States-European Union Transatlantic Trade and Investment Partnership (TTIP).  In the paper, the Commission states: “The goal [of the framework] is not to define the substance of international standards, which shall [...]

January 29th, 2014|

Booth School of Business: Evaluating Bank Funding Cost Differential Studies

With many studies examining bank funding cost differentials, it is important to have a solid framework for evaluating these studies. Below outlines the University of Chicago's Randy Kroszner's views on the best methodologies, datasets, and direction for future research. What Is The Main Research Challenge Kroszner Finds That Across All Industries, Large Firms Have A [...]

October 13th, 2013|

Letter to the Editor: Elizabeth Warren off mark in her solution to ‘too big to fail’

In her Sept. 18 op-ed “Scaling back ‘too big’ ” Senator Elizabeth Warren is right that enormous progress has been made since 2008 in improving the safety and stability of the financial system. Regulators have new tools to address a future crisis, bank capital has doubled, leverage has decreased, compensation practices have been aligned with long-term performance, and [...]

September 28th, 2013|

Forum President Discusses How Financial System is More Safe, Sound Than Ever Before on CNBC’s ‘Squawk Box’

"Today, Financial Services Forum President and CEO Rob Nichols 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."

September 12th, 2013|