FINANCIAL SERVICES WEEK AHEAD FEB 12 to FEB 16

House of Representatives:

 

WEDNESDAY, FEBRUARY 14TH
On Wednesday, the House will meet at 10:00 a.m. for morning hour and 12:00 p.m. for legislative business.

H.R. 3978 – TRID Improvement Act of 2017, Rules Committee Print (Subject to a Rule) (Sponsored by Rep. French Hill / Financial Services Committee)

H.R. 3299 – Protecting Consumers’ Access to Credit Act of 2017 (Subject to a Rule) (Sponsored by Rep. Patrick McHenry / Financial Services Committee)

 

HOUSE FINANCIAL SERVICES COMMITTEE:

Hearing entitled “Examining the Current Data Security And Breach Notification Regulatory Regime” 
Wednesday, February 14, 2018 10:00 AM in 2128 Rayburn HOB 
Financial Institutions and Consumer Credit
 

Click here for the Committee Memorandum.

Witness List

Mr. Aaron Cooper, Vice President, Global Policy, BSA – The Software Alliance

Ms. Kim Sponem, Chief Executive Officer & President, Summit Credit Union, on behalf of the Credit Union National Association

Mr. Nathan D. Taylor, Partner, Morrison & Foerster LLP

Professor Marc Rotenberg, President, Electronic Privacy Information Center, and Adjunct Professor, Georgetown University Law Center

Mr. Paul Rosenzweig, Senior Fellow, R Street Institute

 

Hearing entitled “Legislative Proposals Regarding Derivatives” 
Wednesday, February 14, 2018 2:00 PM in 2128 Rayburn HOB 
Capital Markets, Securities, and Investment
 

Click here for the Committee Memorandum.

Witness List

TBD witness on behalf of the Securities Industry and Financial Markets Association

Thomas C. Deas, Chairman, National Association of Corporate Treasurers, on behalf of the Coalition for Derivatives End-Users

Mr. Andy Green, Managing Director of Economic Policy, Center for American Progress

Mr. Scott O’Malia, Chief Executive Officer, International Swaps and Derivatives Association, Inc.

 

H.R. 4569, To require the appropriate Federal banking agencies to recognize the exposure-reducing nature of client margin for cleared derivatives.

H.R._____, To direct the Securities and Exchange Commission and Commodity Futures Trading Commission to review and harmonize rules relating to the regulation of over-the-counter swaps.

H.R._____, To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish an exemption from the credit valuation adjustment calculation for uncleared derivatives transactions with end-users so that United States companies are not disadvantaged, and for other purposes.

H.R._____, To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to remove unfairness in the scope of end-user relief for end users hedging bona fide business risks, and for other purposes.

H.R._____, To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to clarify the relief from mandatory clearing available to centralized treasury units of nonfinancial affiliates, and for other purposes.

H.R._____, To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to exempt swap transactions between affiliated entities from the swaps rules issued by the Securities and Exchange Commission and Commodity Futures Trading Commission.

H.R._____, To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to align margin and clearing requirements by clarifying the definition of “financial entity”, and for other purposes.

H.R._____, To amend the Securities Exchange Act of 1934 and the Commodity Exchange Act to encourage risk mitigation by excluding all hedging swaps from the swap dealer de minimis threshold, and for other purposes.

H.R._____, To provide clarity regarding the de minimis exception annual thresholds for swap dealers and security-based swap dealers, and for other purposes.

H.R._____, To clarify the definition of “financial end user” as it applies to parent and holding companies.

H.R._____, To exclude non-U.S. regulated funds from the definition of “United States person” and ensure consistent application of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act to cross-border security-based swap and swap transactions, and for other purposes.

 

Hearing entitled “Examining De-risking and its Effect on Access to Financial Services” 
Thursday, February 15, 2018 10:00 AM in 2128 Rayburn HOB 
Financial Institutions and Consumer Credit
 

 

Hearing entitled “Evaluating CFIUS: Administration Perspectives” 
Friday, February 16, 2018 9:00 AM in 2128 Rayburn HOB 
Monetary Policy and Trade
 

 

HOUSE SMALL BUSINESS COMMITTEE:

Job Creation, Competition, and Small Business’ Role in the United States Economy

11:00 A.M. February 14, 2018

Room 2360 of the Rayburn House Office Building

 

The hearing will provide Committee Members with the opportunity to discuss new research conducted by Goldman Sachs regarding the effect of access to capital on small firms’ growth and expansion.  The hearing will also explore economic trends that show small firms’ access to capital, particularly in large urban and remote rural areas, has been slower to recover.  Finally, the hearing will feature small business owners who have graduated from Goldman Sachs 10,000 Small Businesses program, offering insight as to what private sector resources can be available to small firms seeking assistance to grow.

Attachments
1. Hearing Notice
2. Witness List

Witnesses
Mr. Steven H. Strongin, Head, Global Information Research Division, Goldman Sachs
Mr. JR Foster, President and CEO, Robert Louis Group
Ms. Jessica Johnson, President, Johnson Security Bureau, Inc.

HOUES WAYS AND MEANS COMMITTEE:

Hearing on the President’s Fiscal Year 2019 Budget Proposals with U.S. Secretary of the Treasury Steven Mnuchin

Thursday, February 15, 2018 at 10:00AM

1100 Longworth House Office Building

 

Witness:

U.S. Secretary of the Treasury Steven Mnuchin

 

HOUSE BUDGET COMMITTEE:

The President’s Fiscal Year 2019 Budget

February 14, 2018 at 10:00 AM

1334 Longworth House Office Building

 

Chairman Steve Womack and members of the House Budget Committee will conduct a hearing on President Donald Trump’s budget request for fiscal year 2019.

 

Witnesses:

Mick Mulvaney, Director, Office of Management and Budget

 

U.S. SENATE:

 

SENATE BUDGET COMMITTEE:

Budget Committee Hearing on the President’s FY 2019 Budget

Dirksen Senate Office Building, Room 608

10:00am – Tuesday, February 13, 2018

 

Witness:

Honorable Mick Mulvaney, Director, Office of Management and Budget

 

SENATE FINANCE COMMITTEE:

The President’s Fiscal Year 2019 Budget

February 14, 2018 at 10:30 AM

215 Dirksen Senate Office Building

 

Witness:

The Honorable Steven Mnuchin, Secretary Of The Treasury, United States Department of the Treasury

 

The President’s Fiscal Year 2019 Budget

February 14, 2018 at 02:30 PM

215 Dirksen Senate Office Building

 

Witness:

The Honorable David J. Kautter, Acting Commissioner And Assistant Secretary For Tax Policy

Internal Revenue Service, United States Department of the Treasury

 

SENATE SMALL BUSINESS COMMITTEE:

Nominations

February 14, 2018 at3:30 PM

428A Russell Senate Office Building Small Business Committee Hearing Room

 

Witness Panel:

David C. Tryon to be Chief Counsel for Advocacy of the Small Business Administration

Hannibal M. Ware to be Inspector General of the Small Business Administration

 

SENATE AGRICULTURE COMMITTEE:

State of the CFTC: Examining Pending Rules, Cryptocurrency Regulation, and Cross-Border Agreements

February 15, 2018 at 09:30 AM

328A Russell Senate Office Building

 

Witness:

  1. Christopher Giancarlo, Chairman,Commodity Futures Trading Commision

 

AROUND TOWN:

2/14/18 10:00 AM EST
CFTC Technical Advisory Committee meeting
The Commodity Futures Trading Commission’s Technical Advisory Committee holds a public meeting to discuss the committee’s efforts in 2018. Live webcast available here.

The bubble economy — Is this time different?
Wednesday, February 14, 2018 | 10:00 AM–12:30 PM
AEI, Auditorium, 1789 Massachusetts Avenue, NW, Washington, DC 20036

Two decades after Alan Greenspan’s famous “irrational exuberance” speech at AEI in 1996, global asset market prices again appear to be frothy. Years of highly unorthodox monetary policy have contributed to record-high global stock market prices, unprecedentedly low and even negative government bond yields, and renewed housing market bubbles.
PARTICIPANTS

Alan Greenspan, Greenspan Associates
Desmond Lachman
, AEI
Alex J. Pollock
, R Street Institute 
Adam Posen
, Peterson Institute for International Economics
Vincent Reinhart
, Standard Mellon Asset Management
Peter J. Wallison
, AEI
William White
, Organisation for Economic Co-operation and Development

RSVP to attend this event.

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