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Washington D.C

Summit Recap from July 18, 2022

The inaugural Financial Services Forum Summit, held on July 18, 2022, featured insights from leaders, experts, and officials on the future of banking, today’s global economy, regulation, the climate transition, and digital innovation.

Large Banks and the U.S. Economy

U.S. businesses, households, and the overall economy have faced significant challenges during the COVID-19 pandemic. What have we learned about the relationship between large banks and the economy during this time and how should that inform our thinking about policy going forward? We evaluate if there are lessons from this period that will require longer-run policy changes or if the pandemic has been more of a “one-off” event.

Speakers

10:00am – 10:45am

Regulations and the U.S. Economy in a Time of Change

The U.S. economy is strong, but is facing significant inflationary headwinds, leading the Federal Reserve to remove the proverbial punch bowl, raise interest rates and announce plans to taper its balance sheet. At the same time, bank and market regulators are evaluating potential updates. We’ll discuss the implications for these developments with a focus on the regulation of large bank capital and liquidity, the relation to recent Federal Reserve developments, and the economy.

Speakers

11:00am – 11:20am

A Conversation with Nellie Liang

Forum President and CEO Kevin Fromer sat down with Under Secretary of Treasury Nellie Liang to discuss the banking sector.

Speakers

11:30AM – 12:15PM

Climate Risk and Transition Policy

What are the most unique and pressing climate-related financial risks for large banks, and what can we expect from regulators in the near term? How are large banks responding to the increased focus on climate-related financial risks? What are the opportunities and challenges associated with a transition to a lower carbon economy?

Speakers

12:15pm – 1:00pm

The Future of Digital Assets and the Banking System Nexus

The rapid growth of digital assets in the past few years raises a variety of important questions about how the financial system will continue to adapt to these new assets and technologies. We will look at what role we expect large banks to play in the development, intermediation, and adoption of these products and how we think about the rapidly evolving pace of regulation in this area.

Speakers

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Donald Kohn copy

Donald Kohn

Robert V. Roosa Chair in International Economics and Senior Fellow, Economic Studies, Brookings Institution
https://www.brookings.edu/experts/donald-kohn/
Jelena McWilliams

Jelena McWilliams

Partner, Cravath, Swaine & Moore LLP

https://www.cravath.com/people/jelena-mcwilliams.html

Nathan Sheets Headshot

Nathan Sheets

Global Chief Economist, Citi
https://www.businesswire.com/news/home/20210816005447/en/Citi-Announces-Appointment-of-New-Global-Chief-Economist
fromer

Kevin Fromer

Moderator

Kevin Fromer, President and CEO, Financial Services Forum
Richard Berner

Richard Berner

Richard Berner, Clinical Professor of Finance and Professor of Management Practice and Co-Director, The Volatility and Risk Institute, New York University Leonard N. Stern School of Business   

AndrewOlmen

Andrew Olmem

Andrew Olmem, Partner, Mayer Brown
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Marc Saidenberg

Marc Saidenberg, Americas Financial Services Regulatory Lead and Principal, U.S. Financial Services Consulting, Ernst & Young LLP
sean campbell

Sean Campbell

Moderator

Sean Campbell, Chief Economist and Head of Policy Research, Financial Services Forum
Nellie Liang Headshot

Nellie Liang

Nellie Liang, Under Secretary for Domestic Finance, U.S. Treasury
Jon Fink

Jonathan Fink

Jonathan Fink, Assistant Chief Counsel and Climate Risk Officer, Office of the Comptroller of the Currency
Allison Hashmall Headshot

Alison Hashmall

Alison Hashmall, Counsel, Debevoise & Plimpton
Mary Obasi Headshot

Mary Obasi

Mary Obasi, Head of Global Climate Risk for Global Risk Management, Bank of America
tiffany haas

Tiffany Haas
Moderator

Tiffany Haas, Co-Head of Government Affairs, Financial Services Forum
Hester Peirce Headshot

Hester Peirce

Hester Peirce, Commissioner, Securities and Exchange Commission
David Portilla Square

David Portilla

Moderator

David Portilla, Partner, Cravath, Swaine & Moore LLP

Andres Wolberg Stok Headshot

Andres Wolberg-Stok

Andres Wolberg-Stok, Global Head of Strategy in the Office of the CTO, Citi
Brett Quick Headshot

Brett Quick
Moderator

Brett Quick, Former Co-Head of Government Affairs, Financial Services Forum