This week, the Treasury Department faces another Monday deadline, but the agency may miss this one too: The first round of big banks permitted to repay their Tarp funds may be revealed. Word is that if the announcement comes at all on Monday, it will come late in the day. On the Hill, regulatory restructuring discussions will pick up speed.
Capital raising plans for the ten banks that were told to raise more funds after the stress tests are due, and the Federal Reserve is handling the related announcements.
On Monday morning the Small Business Administration will unveil guidance for its new loan program, America's Recovery Capital. The program, created by the stimulus package, will provide small, short-term loans to struggling but viable small businesses. The SBA targets having the program running by June 15.
At 12:30pm, Federal Reserve Governor Daniel Tarullo will address a luncheon at the Peterson Institute for International Economics. He will talk about regulatory restructuring.
The House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises will hold a hearing on the regulation of over-the-counter derivatives starting at 10:30am. No witnesses have been announced yet.
At 1pm the House Committee on Small Business will hold a hearing on how to expand small businesses´ access to capital. The hearing will focus on issues related to the SBA. Though an official witness list has not yet been announced, American Banker reported that the American Bankers Association and the National Association of Development Companies will be there.
Elsewhere, Fed Governor Betsy Duke will speak on "the systemic importance of consumer protection" at 12:15pm at the Community Development Policy Summit in the Crowne Plaza Hotel in Cleveland.
The Financial Services Committee will hold a hearing on the linkages between executive pay and systemic risk starting at 10am. Witnesses have not yet been announced.