Week inAdvance Monday | Dec 13, 2021

Mon Dec 13 G7 FinMins discuss inflation as prices soar. | Tue Dec 14 Stablecoins on Senate Banking agenda. | Wed Dec 15 SEC will release its plan for scrutinizing complex stock derivatives transactions. FOMC rate decision. | Thu Dec 16 EU leader summit. BOE, ECB rate decisions, Lagarde briefing. | Fri Dec 17 FSOC meets in open and closed sessions. “Quadruple witching” day in the U.S. market. The world's biggest central banks have monetary policy meetings. Federal Reserve Chair Jerome Powell has already called for the idea that inflation is transitory to be retired. The FOMC meets Dec. 14-15.  On Dec. 16, the European Central Bank and the Bank of England will announce their decisions. The ECB has called the inflation spike a hump that will ease next year, and President Christine Lagarde sees an interest-rate increase in 2022 as unlikely. Although the BOE was widely expected to halt QE and start raising rates, those bets have been slashed amid concerns about the omicron variant.  EU leaders will discuss whether mandatory vaccinations are needed to help fight the ongoing spike in Covid cases when they gather in Brussels on Dec. 16-17. While the EU doesn’t have the authority to impose mandates, it can try to reach an agreement on a joint approach.  All times are Eastern and subject to change.

please join us

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

at the agencies

Wednesday, Dec 15 FEDERAL RESERVE The U.S. Federal Open Market Committee concludes its two-day policy meeting with a news conference with Fed chair Jerome Powell at 2 pm. Wednesday, Dec 15 SECURITIES AND EXCHANGE COMMISSION Meeting to consider: Re-proposing a rule to prohibit fraud and manipulation tied to security-based swaps New rules focused on the conduct of chief compliance officers for security-based swaps dealers and major traders Requiring reporting of large security based swaps positions In addition to the new derivatives rules, the agency also plans to consider a slate of rules focused on money markets, stock buyback disclosures, and insider trading. See the complete agenda here. Friday, Dec 17 FINANCIAL STABILITY OVERSIGHT COUNCIL Virtual meeting will include both an open and an executive session. The preliminary agenda for the open session includes a vote on the Council’s 2021 annual report, a vote on establishing a staff-level Climate-related Financial Risk Committee of the Council, and the transition from LIBOR. The preliminary agenda for the executive session includes forthcoming proposed SEC rulemakings, the crypto-asset policy sprint by the federal banking agencies, and FSOC's climate-related work.

on the hill

Tuesday, December 14 SENATE BANKING, HOUSING, AND URBAN AFFAIRS Hearing: "Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?"

across the globe

Monday, Dec 13 VIRTUAL Group of Seven finance ministers will discuss the recent surge in inflation against the backdrop of supply-chain snarls that have hampered the world economy. Ministers will also discuss healthcare. Monday, Dec 13 VIRTUAL PRI webinar: U.K. Climate Financial Risk Forum: deep dive on data, metrics and legal risks. Highlights from the Forum’s second-year report, including a dashboard on data and metrics, managing legal risk as well as comparative analysis of what to expect from common law countries such as the U.S. Thursday, Dec 16 - Friday, Dec 17 BRUSSELS, Belgium EU leaders will discuss developments related to Covid-19, crisis management and resilience, energy prices, security and defense, external aspects of migration, and the situation in Belarus. Friday, Dec 17 BASEL, Switzerland (virtual) The Basel Institute's Green Corruption team has organized a special event, Environmental corruption as a roadblock to reaching the SDGs: virtual CoSP side event, at the 9th Conference of the States Parties (CoSP) to the UN Convention Against Corruption (UNCAC) to discuss this crucial barrier to attaining the Sustainable Development Goals (SDGs).

other events

Tuesday, Dec 14 - Wednesday, Dec 15 VIRTUAL Bloomberg Technology Summit. Pandemic Powers: Tech's Opportunities and Challenges. Speakers include SAP CEO Christian Klein and IBM CEO Arvind Krishna. Friday, Dec 17 “Quadruple witching” day in the U.S. market, the simultaneous expiration of stock index futures, stock index options, stock options and single stock futures. Friday, Dec 17 S&P Dow Jones Indices quarterly rebalance effective after markets close, including S&P 500 Index.