Congressional Oversight Panel to Hold Hearing on Commercial Real Estate’s Impact on Bank Stability

Congressional Oversight Panel to Hold Hearing on Commercial Real Estate’s Impact on Bank Stability

WASHINGTON, D.C. – February 1, 2011 – (RealEstateRama) — On Friday, February 4, 2011, at 10:00 a.m., the Congressional Oversight Panel will hold a hearing in room 538 of the Dirksen Senate Office Building to examine the current state of the commercial real estate market and its implications for bank stability and returns to the Troubled Asset Relief Program.

The Panel has examined the impact of the troubled commercial real estate market in several of its oversight reports, including its February 2010 report, “Commercial Real Estate Losses and the Risk to Financial Stability.”

WHO:
Members of the TARP Congressional Oversight Panel

Witnesses

Panel One:

Sandra Thompson, Director, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation

Patrick Parkinson, Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve

David Wilson, Deputy Comptroller for Credit and Market Risk, Office of the Comptroller of the Currency

Panel Two:

Matthew Anderson, Managing Director, Foresight Analytics

Richard Parkus, Executive Director, Morgan Stanley Research

Jamie Woodwell, Vice President of Commercial Real Estate Research, Mortgage Bankers Association

WHAT:
Hearing on Commercial Real Estate’s Impact on Bank Stability

WHEN:
Friday, February 4, 2011; 10:00 a.m.

WHERE:
Room 538, Dirksen Senate Office Building

The hearing is open to press and public and will be webcast on the Panel’s website at cop.senate.gov. Individuals with disabilities who require an auxiliary aid or service, including closed captioning service for webcast hearings, should contact the Panel’s staff at 202-224-9925 at least two business days in advance of the hearing date.

The Congressional Oversight Panel was created to oversee the expenditure of the Troubled Asset Relief Program funds authorized by Congress in the Emergency Economic Stabilization Act of 2008 and to provide recommendations on regulatory reform. The Panel members are former Senator Ted Kaufman; J. Mark McWatters; Richard H. Neiman, Superintendent of Banks for the State of New York; Damon Silvers, Policy Director and Special Counsel for the AFL-CIO;and Kenneth Troske, William B. Sturgill Professor of Economics at the University of Kentucky.

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