PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Monday, June 23, 2025
June 23, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Monetary Policy Report – June 2025
June 20, 2025
The Federal Reserve Board released the Monetary Policy Report for June 2025.
Federal Reserve Bank of New York
Article: Ideas in Focus at This Year’s Monetary Policy Implementation Workshop
June 20, 2025
The Federal Reserve Bank of New York published a The Teller Window article entitled, “Ideas in Focus at This Year’s Monetary Policy Implementation Workshop.”
Blog: The New York Fed DSGE Model Forecast—June 2025
June 20, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “The New York Fed DSGE Model Forecast—June 2025.”
Commodity Futures Trading Commission
Commissioner Kristin N. Johnson’s Keynote Remarks at the CCP AGM 2025
June 20, 2025
Commodity Futures Trading Commission Commissioner Kristin N. Johnson gave keynote remarks at the CCP Global AGM Meeting.
Bank Policy Institute
Blog: The Fed vs. the World: Our Central Bank’s Unique Distrust of Private Markets
June 20, 2025
The Bank Policy Institute published a blog post entitled, “The Fed vs. the World: Our Central Bank’s Unique Distrust of Private Markets.”
International
European Banking Authority
The EBA reviews standardized terminology in relation to payment accounts and concludes it remains fit-for-purpose
June 20, 2025
The European Banking Authority published a report, in which it reviewed the standardized terms for the most common services related to payment accounts, as mandated by the Payment Accounts Directive.
Bank of England
Market Notice: Asset Purchase Facility: Gilt Sales
June 20, 2025
The Bank of England released the Asset Purchase Facility Gilt Sales for Q3 2025.
Macro Technical Paper: Decompositions, forecasts and scenarios from an estimated DSGE model for the UK economy
June 20, 2025
The Bank of England published paper no. 1 of the Macro Technical Paper series entitled, “Decompositions, forecasts and scenarios from an estimated DSGE model for the UK economy.”
Technical Paper: Nowcasting GDP at the Bank of England: a Staggered-Combination MIDAS approach
June 20, 2025
The Bank of England released paper no. 2 in the Macro Technical Paper series entitled, “Nowcasting GDP at the Bank of England: a Staggered-Combination MIDAS approach.”
Working Paper: Intertemporal pass-through
June 20, 2025
The Bank of England published a staff working paper entitled, “Intertemporal pass-through.”
Market Participants Survey results – June 2025
June 20, 2025
The Bank of England released the Market Participants Survey results for June 2025.
Consolidated worldwide claims - 2025 Q1
June 20, 2025
The Bank of England released the consolidated worldwide claims statistics for Q1 2025.
Speech: Central Banking in extreme adversity
June 20, 2025
Bank of England Governor Andrew Bailey gave a speech entitled, “Central Banking in extreme adversity,” at the 9th NBU-NBP Annual Research Conference, Kyiv.
Minutes of the Meeting of the Court of Directors held on 10 April 2025
June 20, 2025
The Bank of England released the minutes of the Court of Directors meeting held April 10, 2025.
Bank Rate maintained at 4.25% - June 2025
June 19, 2025
At its meeting ending on 18 June 2025, the Monetary Policy Committee voted by a majority of 6–3 to maintain Bank Rate at 4.25%. Three members preferred to reduce Bank Rate by 0.25 percentage points, to 4%. In response, the Governor of the Bank of England and the Chancellor of the Exchequer exchanged letters regarding why inflation moved away from its target.
Agents' summary of business conditions - 2025 Q2
June 19, 2025
The Bank of England released the Agents’ summary of business conditions for Q2 2025.
Latest results from the Decision Maker Panel survey - 2025 Q2
June 19, 2025
The Bank of England released the Decision Maker Panel Survey results for Q2 2025.
Administration Changes
Vacancies
Appointments
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 Michelle W. Bowman (sworn in June 9, 2025)
- Governor 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 – Travis Hill (Acting Chairman effective January 20, 2025)
- Vice Chairman Vacant
- Director Vacant
- Director Rodney Hood (Acting Comptroller of the Currency)
- Director Russel Vought (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 (effective April 9, 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 (Chairman effective January 20, 2025)
Small Business Administration – Kelly Loeffler (effective February 19, 2025)
U.S. Department of Housing and Urban Development – Scott Turner (effective February 5, 2025)
Federal Housing Finance Agency – William Pulte (effective March 13, 2025)
U.S. Department of Education – Linda McMahon (effective March 3, 2025)
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 theConsolidated 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
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