Week inAdvance Monday | Jul 19, 2021

Mon Jul 19 U.S. regulators discuss stablecoins. Jordan’s King Abdullah II visits the White House. | Tue Jul 20 Senate Banking climate hearing. | Wed Jul 21 ARRC Sofr event. Belgian National Day. | Thu Jul 22 WTO meeting in Geneva. ECB rate decision, Christine Lagarde briefing. U.S. initial jobless claims, leading index, existing home sales. | Fri Jul 23 G20 climate & energy meeting. Tokyo Olympics begin. All times are Eastern and subject to change.

please join us

Wednesday, Jul 21 INVESTORS CMBS industry update 4 - 4:15 pm Come when you can. Leave when you have to. Take your calls.

at the agencies

Monday, Jul 19 DEPARTMENT OF THE TREASURY, SECURITIES AND EXCHANGE COMMISSION, COMMODITY FUTURES TRADING COMMISSION U.S. Treasury Secretary Janet Yellen will convene the President’s Working Group on Financial Markets to discuss rules for stablecoins, a key part of the cryptocurrency market where government officials are increasingly fretting about a lack of oversight. The session will also include two bank regulators: the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation. Wednesday, Jul 21 FEDERAL RESERVE BANK OF NEW YORK The Alternative Reference Rates Committee (ARRC) will hold the fourth in a series of events, The SOFR Symposium: The Final Year, which will include an update on the SOFR First Initiative being led by the Commodity Futures Trading Commission (CFTC) Market Risk Advisory Committee’s (MRAC) Interest Rate Benchmark Reform Subcommittee. This will be followed by a discussion about ARRC’s continued progress towards formally recommending the CME Sofr term rates. Wednesday, Jul 21 SECURITIES AND EXCHANGE COMMISSION SEC's Office of Minority and Women Inclusion and 100 Women in Finance's webinar, The SEC: Picture Yourself Here. Wednesday, Jul 21 - Thursday, Jul 22 MUNICIPAL SECURITIES RULEMAKING BOARD The MSRB board of directors will discuss long-term strategic planning, adopt its FY 2022 budget, elect new leadership, consider next steps for several potential rulemakings, and discuss ESG trends in the municipal market. View the board's meeting discussion items here. Thursday, Jul 22 FEDERAL DEPOSIT INSURANCE CORPORATION The FDIC's Advisory Committee on Community Banking will discuss local banking conditions as well as the work of the Minority Depository Institutions Subcommittee. FDIC senior staff will also provide updates on supervision matters, regulatory financial inclusion efforts, and initiatives of the FDIC’s Office of Innovation – FDITECH. See the complete agenda here.

on the hill

Tuesday, Jul 20 HOUSE FINANCIAL SERVICES Department of Housing and Urban Development oversight hearing on building a better, more equitable housing infrastructure. Tuesday, Jul 20 SENATE BANKING, HOUSING, AND URBAN AFFAIRS Hearing on climate change, resilience, and reinsurance in 21st century communities. Wednesday, Jul 21 HOUSE FINANCIAL SERVICES Subcommittee on Investor Protection, Entrepreneurship and Capital Markets hearing to review bond rating agencies. Wednesday, Jul 21 HOUSE FINANCIAL SERVICES Subcommittee on Consumer Protection and Financial Institutions hearing on banking the unbanked, and exploring private and public efforts to expand access to the financial system. Wednesday, Jul 21 HOUSE WAYS AND MEANS Subcommittee on Trade hearing on the global challenge of forces labor in supply chains.

across the globe

Tuesday, Jul 20 VIRTUAL OMFIF (Official Monetary and Financial Institutions Forum) panel on Cryptoassets: Risks, Opportunities and Valuation will explore market trends and demand, types of cryptoassets, technical ways of valuing cryptoassets, risk, and adoption. Thursday, Jul 22 FRANKFURT, Germany European Central Bank President Christine Lagarde holds a press conference to discuss the ECB'S rate decision. Lagarde said the Governing Council meeting will include a revision of the bank’s forward guidance. She also said that she expects the current asset purchase program to run until “at least” March 2022. She said she’s only “guardedly optimistic” about the recovery prospects for the euro area with the delta variant of the coronavirus posing a threat to efforts to return to normal life. Thursday, Jul 22 GENEVA, Switzerland The World Trade Organization will hold an informal meeting of the General Council. Friday, Jul 23 NAPLES, Italy G20 climate and energy joint ministerial meeting.

other events

Thursday, Jul 22 The U.S. existing home sales June report will indicate if rising home prices and limited inventory are continuing to weigh on homebuying. Sales of previously-owned homes declined in the four most recent reports, but economists forecast an uptick in June.