PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday November 15
November 15, 2024
By Paul Hastings Professional
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Federal Agencies
U.S. Department of the Treasury
Treasury Releases Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States
November 14, 2024
The U.S. Department of the Treasury delivered its semiannual Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.
Remarks by Secretary Yellen at the Financial Literacy and Education Commission Meeting
November 14, 2024
Secretary of the Treasury Janet L. Yellen gave remarks at the Financial Literacy and Education Commission Meeting.
OFR Brief: Repo Market Intermediation
November 14, 2024
The Office of Financial Research published a brief entitled “Repo Market Intermediation.”
Federal Reserve Board
Speech: Economic Outlook
November 14, 2024
Federal Reserve Board Chair Jerome H. Powell gave a speech entitled “Economic Outlook.”
Speech: Central Bank Independence and the Conduct of Monetary Policy
November 14, 2024
Federal Reserve Board Governor Adriana D. Kugler gave a speech entitled “Central Bank Independence and the Conduct of Monetary Policy,” at the Albert Hirschman Lecture, 2024 Annual Meeting of the Latin American and Caribbean Economic Association and the Latin American and Caribbean Chapter of the Econometric Society, Montevideo, Uruguay.
Federal Reserve Bank of New York
Report: Firms’ Supply Chain Adaptation to Carbon Taxes
November 14, 2024
The Federal Reserve Bank of New York published a staff report entitled “Firms’ Supply Chain Adaptation to Carbon Taxes.”
Report: Clustering in Natural Disaster Losses
November 14, 2024
The Federal Reserve Bank of New York published a staff report entitled “Clustering in Natural Disaster Losses.”
Report: Who Collaborates with the Soviets? Financial Distress and Technology Transfer During the Great Depression
November 14, 2024
The Federal Reserve Bank of New York published a staff report entitled “Who Collaborates with the Soviets? Financial Distress and Technology Transfer During the Great Depression.”
Blog: Why Investment‑Led Growth Lowers Chinese Living Standards
November 14, 2024
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled “Why Investment‑Led Growth Lowers Chinese Living Standards.”
Federal Reserve Bank of Boston
Paper: The Impact of Global Shipping Cost Surges on US Import Price Inflation
November 14, 2024
The Federal Reserve Bank of Boston published a working paper entitled “The Impact of Global Shipping Cost Surges on US Import Price Inflation.”
Securities and Exchange Commission
Speech: Car Keys, Football, and Effective Administration
November 14, 2024
Securities and Exchange Commission Chair Gary Gensler gave a speech entitled “Car Keys, Football, and Effective Administration,” at PLI’s 56th Annual Institute on Securities Regulation.
International
European Banking Authority
The EBA issues an Opinion in response to the European Commission's proposed amendments to the EBA final draft technical standards on supervisory reporting and Pillar 3 disclosures
November 14, 2024
The European Banking Authority published an Opinion on the amendments proposed by the European Commission to the EBA final draft Implementing Technical Standards (ITS) on public disclosures by institutions and supervisory reporting under the revised Capital Requirements Regulation.
The EBA issues final guidance on internal policies, procedures and controls to ensure the implementation of Union and national sanctions
November 14, 2024
The European Banking Authority published two sets of final Guidelines that, for the first time, set common EU standards on the governance arrangements and the policies, procedures and controls financial institutions should have in place to be able to comply with Union and national restrictive measures.
Bank of England
Speech: Growth
November 14, 2024
Bank of England Governor Andrew Bailey gave a speech entitled “Growth,” at the Mansion House Financial and Professional Services Dinner.
Speech: The Great Moderation 20 years on – and beyond
November 14, 2024
Monetary Policy Committee Member Catherine L. Mann gave a speech entitled “The Great Moderation 20 years on – and beyond,” at the Annual Conference of the Society of Professional Economists in London.
Administration Changes
Vacancies
Office of the Comptroller of the Currency
- Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision Michael Barr (sworn in July 19, 2022)
- Governor Michelle W. Bowman (sworn in November 26, 2018)
- Governor Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in September 13, 2022)
- Governor Adriana D. Kugler (sworn in September 13, 2023)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
Federal Reserve Bank of Boston – Susan M. Collins (effective July 1, 2022)
Federal Deposit Insurance Corporation – Martin Gruenberg (effective January 5, 2023)
- Chair-Designate Christy Goldsmith Romero (nominated June 13, 2024; nomination hearing July 11, 2024)
- Vice Chairman Travis Hill (sworn in January 5, 2023)
- Director Jonathan McKernan (sworn in January 5, 2023)
- Director Michael Hsu (Acting Comptroller of the Currency)
- Director Rohit Chopra (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Michael Hsu (acting Comptroller, effective May 10, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Commodity Futures Trading Commission – Rostin Behnam (effective December 17, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Todd M. Harper (effective January 20, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021) (resigned March 11, 2024, effective March 22, 2024)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
Financial Crimes Enforcement Network – Andrea Gacki (effective July 13, 2023)
PH Client Alerts
Click here to read more from our Coronavirus series.
Legislation/Legislative Updates
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.
Click here to view the full text of the American Rescue Plan of 2021, Enacted March 11, 2021.
Click here to view the full text of the PPP Extension Act of 2021, Enacted March 30, 2021.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.