PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday February 18, 2025
February 18, 2025
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Federal Agencies
Federal Reserve Board
Working Paper: Estimating the Volume of Counterfeit U.S. Currency in Circulation
February 14, 2025
The Federal Reserve Board published a working paper entitled “Estimating the Volume of Counterfeit U.S. Currency in Circulation.”
Working Paper: Rewiring Repo
February 14, 2025
The Federal Reserve Board published a working paper entitled “Rewiring repo.”
Federal Reserve Bank of New York
Blog: How Censorship Resistant Are Decentralized Systems?
February 14, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled “How Censorship Resistant Are Decentralized Systems?”
The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter
February 13, 2025
The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during the October – December 2024 quarter, the Federal Reserve Bank of New York said in its quarterly report to the U.S. Congress.
Speech: Economic Outlook with a Focus on Regional Business Conditions
February 13, 2025
Federal Reserve Bank of New York Director Kartik Athreya gave a speech entitled “Economic Outlook with a Focus on Regional Business Conditions.”
Commodity Futures Trading Commission
Acting Chairman Pham Announces Brian Young as Director of Enforcement
February 14, 2025
Commodity Futures Trading Commission Acting Chairman Caroline D. Pham announced Brian Young will serve as the agency’s Director of Enforcement.
Fannie Mae
Fannie Mae Reports Net Income of $17.0 Billion for 2024 and $4.1 Billion for Fourth Quarter 2024
February 14, 2025
Fannie Mae reported its fourth quarter and full-year 2024 financial results and filed its 2024 Form 10-K with the Securities and Exchange Commission.
Bank Policy Institute
Blog: A Better M for CAMELS
February 14, 2025
The Bank Policy Institute published a blog post entitled “A Better M for CAMELS.”
International
Bank of England
Working Paper: Monetary Transmission Through the Housing Sector
February 14, 2025
The Bank of England published a working paper entitled “Monetary transmission through the housing sector.”
Working Paper: Local Projections vs. VARs for Structural Parameter Estimation
February 14, 2025
The Bank of England published a working paper entitled “Local Projections vs. VARs for structural parameter estimation.”
Administration Changes
Vacancies
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Scott Bessent (effective January 27, 2025)
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 (resignation as vice chair for supervision, effective February 28, 2025)
- 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 – Travis Hill (Acting Chairman effective January 20, 2025)
- Vice Chairman Vacant
- Director Vacant
- Director Rodney Hood (Acting Comptroller of the Currency)
- Director Russel Vought (Acting Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Jonathan Gould (nominated February 11, 2025); Rodney E. Hood (Acting Comptroller effective February 10, 2025)
Securities and Exchange Commission – Paul Atkins (nominated December 2024); Mark T. Uyeda (Acting Chairman effective January 20, 2025)
Commodity Futures Trading Commission – Brian Quintenz (nominated February 11, 2025); Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – Jonathan McKernan (nominated February 11, 2025); Russel Vought (Acting Director effective February 10, 2025)
National Credit Union Administration – Kyle Hauptman (effective January 20, 2025)
Small Business Administration – Kelly Loeffler (nominated December 2024)
U.S. Department of Housing and Urban Development – Scott Turner (nominated November 2024)
Federal Housing Finance Agency – Bill Pulte (nominated January 2025)
U.S. Department of Education – Linda McMahon (nominated November 2024)
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