DC's biggest unaddressed financial regulation issue will be a focus of discussion in San Diego this week at the Mortgage Bankers Association annual convention and expo. Featured speakers at the conference for mortgage lenders and housing-market participants will include HUD Secretary Julian Castro, CFPB Director Richard Cordray, Fannie Mae and Freddie Mac CEOs and the White House housing adviser. Topics include risk retention and loan servicing as efforts to reform U.S. housing finance remain gridlocked seven years after the peak of the subprime mortgage crisis. Extraordinary government support for Fannie and Freddie, the dominant mortgage companies that have been under U.S. control since 2008, is almost certain to remain in place well beyond the presidential and congressional elections next year, Standard & Poor's credit analyst Nikola Swann said in a report published Oct. 14.
19 October 2015
Week InAdvance
please join us...
Wednesday, Oct 21
Mortgage Securitization Telecon
3 - 3:30 pm ET

Thursday, Oct 22
Market Practice Council Telecon
11 am - noon ET
for details & call-in info...
Matthew Jones
Staff Director
mjones@association.institutionalINVESTORS.org
(202) 712-9050
save the date...
Monday, Oct 26
Cyber Security Council Telecon
2 pm ET

Tuesday, Oct 27
Board of Directors Meeting
12 noon - 2 pm ET
Boston, Massachusetts

Tuesday, Nov 17
2015 Fall Market Practices in-Person
8:30 am to 1:30 pm ET
Boston, Massachusetts
week in brief
Monday, Oct 19
CFTC Chairman Timothy Massad delivers keynote address in Doha, Qatar, to the World Federation of Exchanges. Chicago Fed holds conference with Fed Governor Lael Brainard, FDIC Chairman Martin Gruenberg, and Comptroller of the Currency Thomas Curry.

Tuesday, Oct 20
Five U.S. banking and financial regulators meet for two days at the NY Fed to explore questions underlying the evolution of the Treasury market's current structure and liquidity.

Wednesday, Oct 21
Panel on repo markets, liquidity and the Treasury market at NY Fed conference. House Financial Services hearings on job creation and the future of housing. SEC's brief is due in Duka v. SEC, a dispute over the constitutionality of the agency's in-house forum

Thursday, Oct 22
FDIC considers final rule to establish margin and capital requirements for swap entities and exemption for commercial end users and small banks. House Financial Services holds hearing on future of housing, with focus on HUD.
Please see below for details on these and other events this week.
at the agencies
Monday, Oct 19
FEDERAL DEPOSIT INSURANCE CORPORATION, FEDERAL RESERVE BOARD, OFFICE OF THE COMPTROLLER OF THE CURRENCY
Outreach meeting and webinar at the Federal Reserve Bank of Chicago as part of their regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). FDIC Chairman Martin J. Gruenberg, Comptroller of the Currency Thomas J. Curry, and Federal Reserve Governor Lael Brainard are scheduled to attend. 

Tuesday, Oct 20
FEDERAL RESERVE BANK OF NEW YORK
"Workshop on Reforming Culture and Behavior in the Financial Services Industry." NY Fed President will give opening and closing remarks. Speakers include Fed Governor Daniel K. Tarullo, the SEC's director of enforcement Andrew Ceresney, New York County's district attorney Cyrus Vance.

Tuesday, Oct 20 -
Wednesday, Oct 21
FEDERAL RESERVE BANK OF NEW YORK
A bond market liquidity conference entitled "The Evolving Structure of the U.S. Treasury Market." NY Fed President William Dudley, Fed Governor Jerome Powell will give opening remarks. SEC Chair Mary Jo White and CFTC Chairman Timothy Massad will give keynote addresses. On Wednesday, Fed Govenor Jerome Powell moderates panel on "Repo Markets, Liquidity, and the U.S. Treasury Market." Other participants include representatives of the Treasury, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Federal Reserve Board, and the New York Fed.

Wednesday, Oct 21 -
Thursday, Oct 22
MUNICIPAL SECURITIES RULEMAKING BOARD
The MSRB board will meet to address corporate and governance issues, and discuss the following rulemaking topics: 
  • Mark-Up Disclosure | Current proposal to require municipal securities dealers to disclose on retail customer confirmations the amount of the mark-up in a class of principal transactions. 
  • Close-out Procedures for Dealers | Publication of a request for comment on proposed changes to MSRB Rule G-12, on dealer closeout procedures as part of the MSRB's regulatory efficiency initiative. 
  • Continuing Education Requirements for Municipal Advisors | Policy discussion about the development of continuing education requirements for municipal advisors. 
  • Trade Settlement Cycle | Rule changes necessary to support a T+2 settlement cycle with a view toward publication of a request for comment.
Thursday, Oct 22
NATIONAL CREDIT UNION ADMINISTRATION, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, FARM CREDIT ADMINISTRATION, FEDERAL DEPOSIT INSURANCE CORPORATION, OFFICE OF THE COMPTROLLER OF THE CURRENCY
Webinar covering recent updates to the flood insurance regulations and topics including:
  • Escrow of flood insurance premiums and fees
  • Force-placed flood insurance
  • The detached structures exemption
Thursday, Oct 22
FEDERAL DEPOSIT INSURANCE CORPORATION
Board of directors meets in open session. Discussion will include a final rulemaking to establish margin and capital requirements for covered swap entities and an interim final rule to exempt commercial end users and small banks.
  
 
on the hill
Tuesday, Oct 20
SENATE FOREIGN RELATIONS
Subcommittee on Multilateral International Development, Multilateral Institutions, and International Economic, Energy, and Environmental Policy hearing on "2015 Paris International Climate Negotiations: Examining the Economic and Environmental Impacts."

Tuesday, Oct 20
SENATE HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS
Full committee hearing on "Understanding Social Security's Long-Term Fiscal Picture."

Wednesday, Oct 21
HOUSE FINANCIAL SERVICES
Subcommittee on Financial Institutions and Consumer Credit hearing on "Examining Legislative Proposals to Reduce Regulatory Burdens on Main Street Job Creators."

Wednesday, Oct 21
HOUSE FINANCIAL SERVICES
Subcommittee on Housing and Insurance hearing on "The Future of Housing in America: Federal Housing Reforms that Create Housing Opportunity," including H.R.3700, the "Housing Opportunity Through Modernization Act of 2015."

Thursday, Oct 22
HOUSE FINANCIAL SERVICES
Full committee hearing on "The Future of Housing in America: 50 Years of HUD and its Impact on Federal Housing Policy."

Friday, Oct 23
HOUSE FINANCIAL SERVICES
Subcommittee on Capital Markets and Government Sponsored Enterprises oversight hearing on the Securities and Exchange Commission's Division of Investment Management. David Grim, the only witness and head of the division, will give an update. Among the initiatives Grim is expected to detail are proposed rule changes that would allow funds to adjust their net asset value to account for the costs of providing liquidity.
across the globe
Monday, Oct 19 - 
Wednesday, Oct 21
DOHA, QATAR
Commodity Futures Trading Commission Chairman Timothy Massad speaks at the World Federation of Exchanges' "Qatar 2015: 55th General Assembly and Annual Meeting" hosted by Qatar Stock Exchange (QSE).

Thursday, Oct 22
LONDON, ENGLAND
BBA's Annual International Banking Conference 2015. Speakers include William Coen, secretary general of the Basel Committee, and Jon Cunliffe, deputy governor of financial stability at the Bank of England.

Sunday, Oct 25 -
Tuesday, Oct 27
ABU DHABI, UNITED ARAB EMIRATES
World Economic Forum's annual "Summit on the Global Agenda 2015." The Forum's Network of Global Agenda Councils' brainstorming event for more than 80 groups of experts from academia, business, civil society, international organizaitons and government.
other events
Sunday, Oct 18 -
Wednesday, Oct 21
SAN DIEGO, CALIFORNIA
Mortgage Bankers Association annual convention. Department of Housing and Urban Development Secretary Julian Castro, U.S. Consumer Financial Protection Bureau Director Richard Cordray, Freddie Mac Chief Executive Officer Donald Layton, Fannie Mae CEO Timothy Mayopoulos, and White House housing adviser Michael Stegman are among the speakers.

Monday, Oct 19
CHICAGO, ILLINOIS
EGRPRA Outreach Meeting. Speakers include FDIC Chairman Martin J. Gruenberg, Comptroller of the Currency Thomas J. Curry and Federal Reserve Governor Lael Brainard.

Monday, Oct 19
WASHINGTON DC
The U.S. Chamber of Commerce (USCC) and the World Bank hold the launch of the World Bank's "Benchmarking Public Procurement 2016 Report."

Monday, Oct 19 -
Friday, Oct 23
MIAMI, FLORIDA
U.S. and European Union trade negotiators meet on the proposed Transatlantic Trade and Investment Partnership (TTIP). France has said it will seek to end the talks should gridlock extend into 2016.

Tuesday, Oct 20
WASHINGTON DC
Brookings Institution's "Collapse and Revival: Understanding Global Recessions and Recoveries."

Wednesday, Oct 21
WASHINGTON DC
The International Monetary Fund's Jose Vinals speaks at Peterson Institute for International Economics about the IMF's latest Global Financial Stability Report.

Wednesday, Oct 21
WASHINGTON DC
Center for American Progress's half-day conference, "Creating Long-Term Value: Business Leaders on Shared Prosperity, Innovation and Investment." Treasury Secretary Jack Lew, Secretary of Commerce Penny Pritzker and former Treasury chief Lawrence Summers are among the speakers.

Wednesday, Oct 21
WASHINGTON DC
Bipartisan Policy Center hold discussion on "Rethinking Retirement Plans." Speakers include Department of Labor Assistant Secretary Phyllis Borzi and Treasury Senior Deputy Assistant Secretary J. Mark Iwry.

Thursday, Oct 22 -
Friday, Oct 23
ANN ARBOR, MICHIGAN
Office of Financial Research and University of Michigan Financial Stability Conference. Regulators, policymakers, financial market participants, and academic researchers from a broad range of disciplines will gather to explore "Interdisciplinary Approaches to Financial Stability." Keynote speakers include OFR Director Richard Berner and Andrew Haldane of the Bank of England.

Sunday, Oct 25 -
Wednesday, Oct 28
LAS VEGAS, NEVADA
Money 20/20 Fin Tech Conference. Topics include bitcoin regulatory challenges, anti-money laundering and Office of Financial Assets Control in the new payments landscape and data breach liability.