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News Now

Washington
Snow shuts down House and Senate financial services panels
WASHINGTON (2/11/10)-- The Senate Banking Committee postponed a subcommittee hearing planned for yesterday during which current and former regulators were expected to weigh in on financial systemic risk. The hearing was meant to study ways to better equip financial regulators to oversee systemic risks posed by large, complex companies, products, and activities On the House side, the Financial Services Committee postponed all hearings scheduled this week due to the heavy snow and blizzard conditions, The District of Columbia and some outlying districts announced just after 10 a.m. that plowing services were suspended until further notice because of the dangers posed by blizzard conditions, including high winds.’ The committee had scheduled a Wednesday hearing on the Federal Reserve’s strategy for exiting from extraordinary lending and monetary policies implemented to combat the financial crisis and support economic activity. Federal Reserve Board Chairman Ben Bernanke did release his prepared testimony (see Inside Washington). Also cancelled was a joint hearing with the Small Business Committee on small business and commercial real estate lending in local markets. New dates for the postponed session have not been announced.


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