The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve System will host a two-day symposium on October 25 and 26, 2010, on mortgages and the future of housing finance. Federal Reserve Board Chairman Ben Bernanke will deliver opening remarks, and FDIC Chairman Sheila Bair will be the keynote luncheon speaker.
Chairman Bair said, "The housing sector, one of the main engines of our economy, has seen positive signs, but there are many hurdles yet to overcome. It is very clear that as a country we need to aggressively examine the incentives of our system of mortgage finance to ensure that the problems that contributed to the financial crisis are addressed. It will be difficult to restore stability and normalcy to the housing finance system - and thus the broader economy - without reform. Over the next two days we will hear from experts across the housing spectrum to help identify solutions to these vital issues."
Experts from the public, private and academic sectors will participate in the symposium to discuss mortgage finance, foreclosures, loan modifications, and securitizations. Chairman Bernanke's opening remarks and Chairman Bair's luncheon address will be webcast on Monday, October 25 beginning at 8:30 a.m. EDT through the luncheon keynote. You can view the webcast at http://www.vodium.com/MediapodLibrary/index.asp?library=pn100472_fdic_housingfinance.
The media are welcome and encouraged to attend the symposium. Please RSVP to Greg Hernandez, FDIC Office of Public Affairs, at GHernandez@fdic.gov or call (202) 898-6984.
This event is free and open to the public. However, seating is limited and pre-registration is required. The symposium will be held at the FDIC Virginia Square facility located at the L. William Seidman Center, 3501 N. Fairfax Drive, Arlington VA, 22226-3599, C Building Auditorium.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,830 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-230-2010