PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Saturday, November 11, 2023
November 11, 2023
FedACTion Task Force
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Federal Agencies
Federal Reserve Bank of New York
Report: The Optimal Supply of Central Bank Reserves under Uncertainty
November 10, 2023
The Federal Reserve Bank of New York published a staff report entitled, "The Optimal Supply of Central Bank Reserves under Uncertainty."
Report: Trade Uncertainty and U.S. Bank Lending
November 10, 2023
The Federal Reserve Bank of New York published a staff report entitled, "Trade Uncertainty and U.S. Bank Lending."
Nowcast – Week of November 10, 2023
November 10, 2023
The Federal Reserve Bank of New York staff released the Nowcast for the week of November 10, 2023.
Blog: Potential Flood Map Inaccuracies in the Fed's Second District
November 10, 2023
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, "Potential Flood Map Inaccuracies in the Fed's Second District."
International
Bank of England
Bank of England launches latest phase of the system-wide exploratory scenario exercise
November 10, 2023
The Bank of England has published the latest phase of the System-wide Exploratory Scenario with bank and non-bank participants provided a hypothetical stress scenario.
Paper: Measuring monetary policy in the UK: the UK Monetary Policy Event-Study Database
November 10, 2023
The Bank of England released a staff working paper entitled, "Measuring monetary policy in the UK: the UK Monetary Policy Event-Study Database."
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)
- 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)
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 Consolidated Appropriations Act, 2021, Enacted December 27, 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.