left-caret

PH FedACTion: Financial Regulatory Updates

Daily Financial Regulation Update -- Wednesday, August 2, 2023

August 02, 2023

FedACTion Task Force

Subscribe to PH FedACTion: Financial Regulatory Updates

Major Developments

Federal Agencies

Federal Reserve Board

Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances

August 1, 2023

The Federal Reserve Board released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances.

Working Paper: Can Measurement Error Explain Slow Productivity Growth in Construction?

August 1, 2023

The Board of Governors of the Federal Reserve System published a working paper entitled, "Can Measurement Error Explain Slow Productivity Growth in Construction?"

Fannie Mae

Fannie Mae Reports Net Income of $5.0 Billion for Second Quarter 2023

August 1, 2023

Fannie Mae reported its second quarter 2023 financial results and filed its Second Quarter 2023 Form 10-Q with the Securities and Exchange Commission.

Ginnie Mae

Ginnie Mae Global Markets Analysis Report – July 2023

August 1, 2023

Ginnie Mae published the Global Markets Analysis Report for July 2023.

Bank Policy Institute

Blog: Central Bank Contingency Funding in Resolution Plans

August 1, 2023

The Bank Policy Institute published a blog post entitled, "Central Bank Contingency Funding in Resolution Plans."

International

European Banking Authority

EBA consults on amendments to the Guidelines on the specification and disclosure of systemic importance indicators

August 1, 2023

The European Banking Authority launched a public consultation on amendments to its Guidelines on the specification and disclosure of systemic importance indicators.

Bank of England
Financial Conduct Authority

Transforming data collection – Data Standards Review with recommendations and Bank of England and FCA response

August 1, 2023

The Bank of England and the Financial Conduct Authority (FCA) published their response to the recommendations from the Data Standards Review commissioned by the joint transformation program.

Bank of England

Administration Changes

Vacancies

Board of Governors of the Federal Reserve System

  • Vice Chair – Vacant (Vice Chair Leal Brainard resigned effective on or around February 20, 2023)

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)

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)

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.