Pub. 17 2020 Issue 4

10 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S — H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S WASHINGTON UPDATE ROB NICHOLS, PRESIDENT AND CEO American Bankers Association As I reflect on the last 12 months and the incredible changes that occurred virtually overnight to keep our society moving in the face of perilous uncertainty, I am filled with a deep sense of pride in how the banking industry stepped up to help make that happen. Visit our website at: www.nmbankers.com COVID-19 TURNS ONE: LESSONS LEARNED FROM A GLOBAL HEALTH CRISIS A s impossible as it is to believe, we have been living in a global pandemic for an entire year. What began as a headline from a distant corner of the world quickly became a worldwide health crisis that continues to wreak havoc on our way of life and has, unfortunately, claimed the lives of too many of our fellow citizens. As I reflect on the last 12 months and the incredible changes that occurred virtually overnight to keep our society moving in the face of perilous uncertainty, I am filled with a deep sense of pride in how the bank- ing industry stepped up to help make that happen. It speaks to the “can-do” spirit of America’s 2 million bank employees that as the world was shutting down, as daily routines were being upended, bankers embraced their role as economic first responders and got to work extending aid that helped keep individuals and business- es afloat. With vaccines now being rolled out to certain groups, we are anxiously awaiting the day when we can finally return to some semblance of a normal life. But achieving herd immunity from the virus will take time, and as we prepare to mark one full year of quarantines, social distancing and face cov- erings, I’d like to offer a few observations. Our financial system is resilient. After the last financial crisis, banks worked diligently to increase safety and sound- ness and manage risk more effectively. The post-2008 reforms were intended to help banks better absorb financial shocks —