The American Institute of Certified Public Accountants (AICPA) and Chartered Institute of Management Accountants (CIMA) held the annual Conference on Banks & Savings Institutions in-person and virtually on Sept. 20 - 22, 2021. DHG was honored to be an event sponsor this year. The following are selected comments from various speakers at this year's conference. This summary does not capture all discussions presented during the three-day period; rather, it is intended to highlight trending topics and recurring themes. The selected comments below are our interpretation of the speakers' comments and do not necessarily represent the opinion of DHG.
DHG's key takeaways from the conference included:
Customers and investors are looking for financial institutions' reporting on environmental, social and governance (ESG) initiatives. Conference presenters discussed starting with publicly available data to learn what is important to your customers to build strategies to address these needs within your business.
LIBOR transition and the replacement rate were discussed in several sessions. Panelists shared questions, considerations and what they are watching with U.S. regulators strongly encouraging Jan. 1, 2022, as the date to begin using a new reference rate and as the official end of LIBOR nears in June 2023.
As financial institutions and consumers evaluate the post-pandemic economy, this downturn is different from previous recessions. Americans have increased personal savings but other challenges remain.
This summary represents a collaborative effort on the part of DHG professionals who attended the conference in-person and online.