Week InAdvance: January 20, 2015

TUESDAY | Fed Governor Jerome Powell and UK Financial Conduct Authority chief discuss financial market conduct and structure in Washington. The IMF releases its latest snapshot of the global economy. President delivers his sixth State of the Union address to a joint session of Congress. Senate Finance Committee Chairman Orrin Hatch delivers remarks on committee's agenda at U.S. Chamber event.

WEDNESDAY | FSOC holds open session/webcast to discuss how it goes about designating companies systemically important and includes update on "benchmark reform." FSOC will hold a closed session to discuss leveraged lending. FDIC weighs rule after swaps industry change. Across the Pond, global business and political leaders convene for the first day of the World Economic Forum in Davos to discuss a range of economic issues and current affairs.

THURSDAY | Sen. Dick Durbin (D-Illinois) delivers remarks on "Continuing the Fight to Pass the Marketplace Fairness Act" at U.S. Conference of Mayors' winter meeting. European Central Bank Governing Council meeting in Frankfurt, followed by interest rate announcement and news conference.

SUNDAY | President, accompanied by first lady, will begin a three-day trip to India to address CEO roundtable in New Delhi and visit Taj Mahal in Agra.

Please see below for details on these and other events this week.

AT THE AGENCIES

Wednesday, Jan. 21

DEPARTMENT OF THE TREASURY & VIA WEBCAST | Treasury Secretary Jacob Lew will preside over an open session of the Financial Stability Oversight Council ("FSOC"). Topics for the meeting include benchmark reform efforts, the council's process for considering nonbank financial companies for potential risk label. The preliminary agenda for an executive (closed) session includes a discussion regarding the development of the Council's 2015 annual report and a discussion of leveraged lending. 2:30 pm ET. Read more.

Wednesday, Jan. 21

FEDERAL DEPOSIT INSURANCE CORPORATION & VIA WEBCAST | Open meeting of the FDIC board of directors to consider an action to harmonize new capital and liquidity rules with an industry move establishing temporary stays of derivatives contracts when a major bank fails. The FDIC board will vote on regulatory revisions to rules meant to govern the riskiness of banks, ensuring those rules -- such as new standards for how much capital and liquidity firms must maintain -- don't clash with changes the industry has made to make banks easier to resolve in a failure. Eighteen global banks agreed in October to revise swaps contracts to let failed firms unwind free from immediate collateral demands. The Fed and the OCC already released joint rules effective Jan. 1 that ensured treatment of derivatives transactions is unaffected by this year's capital and liquidity rules. Those agencies are still accepting public comment until March 3rd. 10am ET. Read more.

ON THE HILL

Thursday, Jan. 22

SENATE FINANCE COMMITTEE | Full committee hearing on "Jobs and a Healthy Economy." 10am ET. Read more.

AROUND THE GLOBE

Monday & Tuesday, Jan. 19-20

LONDON & VIA WEBCAST | Annual Institute on Securities Regulation in Europe: Speakers include Stephanie Avakian, deputy director of the SEC's enforcement division, David Wright, secretary general of IOSCO, and Jamie Symington, of the U.K. FCA. Read more.

Wednesday thru Saturday, Jan. 21-24

DAVOS, Switzerland | World Economic Forum 2015 annual meeting: More than 40 heads of state and governments and business leaders will be at the Swiss resort to debate issues from climate change to political instability. Other themes include pandemics, technology, quantitative easing, inequality, and oil. Treasury Secretary Jack Lew will attend to meet with global business leaders and with his international counterparts to discuss economic developments and policies to boost U.S. and global growth and promote financial stability. Read more.

Thursday, Jan. 22

FRANKFORT, Germany | Government Board of the European Central Bank ("ECB") holds its first policy meeting of the year, and its President, Mario Draghi, is widely expected to announce some type of plan for Quantitative Easing ("QE") at the conclusion of the meeting. Any decision in favor of QE would be an historic one for the ECB, which is restricted by a European law prohibiting it from financing governments and mutualizing debt. 7:45 am ET. Read more.

Thursday & Friday, Jan. 22-23

BASEL, Switzerland | Banking and Regulation: The Next Frontier Workshop: Keynote speakers include Xavier Freixas of the Universat Pompeu Fabra and Hyun Song Shin from the Bank for International Settlements. Read more.

OTHER EVENTS

Tuesday, Jan. 20

WASHINGTON DC & VIA WEBCAST| U.S. Chamber of Commerce Discussion: Senate Finance Committee Chairman Orrin Hatch (R-Utah) delivers remarks on the agenda for the Senate Finance Committee. 9am ET. Read more.

Tuesday, Jan. 20

WASHINGTON DC & VIA WEBCAST | Brookings Institution's Initiative on Business and Public Policy hosts Federal Reserve Governor Jerome Powell and Martin Wheatley, chief executive of the UK's Finance Conduct Authority ("FCA") at a discussion on "Making Markets Fair and Effective for All." 10am ET. Read more.

Wednesday, Jan. 21

NEW YORK & VIA WEBCAST | Securities Products of Insurance Companies in the Course of Regulatory Reform: Speakers include the SEC's Will Davis, assistant regional director in the Chicago office, and William J. Kotapish, assistant director of the Division of Investment Management's disclosure review office. Read more.

Wednesday thru Friday, Jan. 21-23

WASHINGTON DC | The United States Conference of Mayors ("USCM") holds its 83rd winter meeting. Read more.

Thursday, Jan. 22

WASHINGTON DC & VIA WEBCAST | The Brookings Institution's Tax Policy Center and the International Tax Policy Form hold a conference on "Corporate Inversions and Tax Policy." Read more.

Friday, Jan. 23

NEW YORK | American Conference Institute's National Securities Litigation and Enforcement Conference: The SEC's Stephanie Avakian, Deputy Director, Division of Enforcement will be on the 9:40 am panel discussing priorities and activities of key enforcers and regulators. Daniel Hawke, Chief, Market Abuse Unit, will be on the 1:40 pm panel discussing insider trading cases. Read more.