It will be another busy week, with some coveted details expected from the Treasury Department and plenty of bankruptcy drama to go around. The House of Representatives intends to vote on the bankruptcy bill sometime this week, but no precise schedule has emerged yet. A conference on Monday should provide a wealth of ideas to digest over the following days. Also watch for Treasury's guidance on the implementation of the executive compensation rules in the stimulus package.
The annual conference of the Institute of International Bankers will bring together Washington´s financial regulatory headliners. Here´s the lineup:
8:45am: Treasury Secretary Timothy Geithner will give the keynote address
Lunchtime: House Financial Services Committee Chairman Barney Frank, D-Mass., will talk about regulatory restructuring proposals during the lunch, which is scheduled to start at 12pm and end at 2pm.
2pm: Securities and Exchange Commissioner Elisse Walter will speak on ways to increase oversight in the financial markets as well as changes the SEC may make to its enforcement procedure. Perhaps she will shed some light on a Washington Post story from earlier this month about the SEC´s possible foray into corporate governance oversight.
2:30pm: Comptroller of the Currency John Dugan will break his relative silence, though it´s anybody´s guess what he will say-there´s no topic listed for his half-hour speaking slot.
3pm: Federal Deposit Insurance Corp. Chairwoman Sheila Bair will discuss the FDIC´s efforts to stabilize the banking sector and reduce foreclosures.
4:45pm: the Financial Services Committee´s ranking member, Rep. Spencer Bachus, R-Ala., will present proposals on regulatory restructuring.
On Capitol Hill, Housing and Urban Development Secretary Shaun Donovan will meet with House Democrats to discuss bankruptcy and the administration´s anti-foreclosure plan.
The Senate Banking Committee will hold a hearing on consumer protections in financial services. No witnesses have been announced so far.
Federal Reserve Chairman Ben Bernanke will testify before the Senate Committee on the Budget. He should just move his office to Capitol Hill. It´s his third appearance before Congress in two weeks. He´ll talk about the budget and the economic outlook.
Banking regulators are expected to release guidelines for loan modifications under the Obama administration´s anti-foreclosure plan.
At 2:30pm, the Financial Services Subcommittee on Financial Institutions and Consumer Credit will hold a hearing on whether Tarp is working for Main Street. Witnesses haven´t yet been announced, and without them it´s hard to imagine what the subcommittee means by "Tarp." Is it the Capital Purchase Program? The auto bailout, perhaps? It couldn´t be the nonexistent "Tarp II," for which details are still forthcoming.
The Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises will hold a 10am hearing on systemic risk. The subcommittee has yet to release a witness list.
Senate Banking is holding a hearing on AIG. Acting Director of the Office of Thrift Supervision Scott Polakoff and New York State Insurance Superintendent Eric Dinallo will testify along with Fed Vice Chairman Donald Kohn.
The new president of the Federal Reserve Bank of New York, William Dudley, will speak to the Council on Foreign Relations in New York on the financial crisis and the Fed´s role in the months ahead.
Mr. Bernanke will return to his hometown of Dillon, S.C., to dedicate the Dillon Interchange with a speech at the Dillon Wellness Center at 3:15pm.