Washington D.C.

Summit Recap from September 26, 2023

The Financial Services Forum Summit, held on September 26, 2023, featured insightful conversations from policymakers, industry leaders and others on the most important topics in banking and today’s global economy.

Panel 1: A Conversation with Ron O’Hanley & Secretary Gina Raimondo

Forum Chair and State Street Chairman and CEO Ron O’Hanley and Commerce Secretary Gina Raimondo discuss U.S. competitiveness, focusing on the challenges and opportunities facing leaders of industry and government.


Panel 2: Innovation Inside Large Banks

As the banking industry is in the midst of a rapid transformation, this panel brought together bank executives and policy makers to discuss the innovations that are reshaping the banking landscape and how these advances interact within the current regulatory framework. From Artificial Intelligence to blockchain applications and beyond, experts shared their views on the intersection of innovation and regulation.


Panel 3: Migration of Risk within the Financial Sector

For over 50 years, the share of financial assets held or intermediated by non-bank financial institutions has risen steadily. Monitoring and assessment of risks associated with non-bank financial institutions (NBFI) has become a regular part of the official sector’s monitoring of financial stability. In this panel we discussed recent trends in the NBFI sector and what the COVID experience revealed about the nature and stability of non-banks in the U.S. and abroad. Finally, we discussed the current outlook for regulation of NBFIs and how NBFI regulation is connected to the regulation of the banking sector.


Panel 4: Capital and the State of the Economy

Capital in the banking system, and especially at our nation’s largest banks, has grown dramatically over the past fifteen years. At the same time, banking regulators are proposing new rules that could raise capital by as much as 20 percent for large banks. In this panel, we discussed the current state of large bank capital, the broad framework for assessing “how much is enough,” as well as perspectives on what changes may mean for the industry and its customers. The panel also discussed the likely economic costs of further increases in bank capital – both in terms of direct economic costs as well as indirect costs that may arise from growth in non-bank sectors or an erosion of international competitive equity.



Please join us following the summit for conversation and networking with others in the financial services industry over drinks and passed hors d'oeuvres.