Daily Financial Regulation Update -- Tuesday, February 3, 2026

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Federal Agencies

Federal Reserve Board

Senior Loan Officer Opinion Survey on Bank Lending Practices — January 2026

February 2, 2026

The Federal Reserve Board released the January 2026 Senior Loan Officer Opinion Survey on Bank Lending Practices.

• Survey

 

Working Paper: ‘Monetary Policy Exposure of Banks and Loan Contracting’

February 2, 2026

The Federal Reserve Board published a working paper titled “Monetary Policy Exposure of Banks and Loan Contracting.”

• Paper

 

Federal Reserve Bank of Boston

Working Paper: ‘Merchant Steering of Consumer Payment Choice’

February 2, 2026

The Federal Reserve Bank of Boston’s Research Department published a working paper titled “Merchant Steering of Consumer Payment Choice.”

• Paper
• Summary

 

Commodity Futures Trading Commission

CFTC Staff Issues Interpretation on Legacy Swap Status

February 2, 2026

The Commodity Futures Trading Commission’s Market Participants Division and Division of Clearing and Risk issued an interpretive letter addressing the effect of a merger conducted as part of an internal reorganization at Morgan Stanley, a CFTC-registered swap dealer, on the status of legacy swaps.

• Staff Letter
• Press Release

 

National Credit Union Administration

NCUA Remains Open, Credit Union Members’ Shares Insured, During Partial Federal Government Shutdown

January 31, 2026

The National Credit Union Administration remains open and individual accounts remain federally insured during the partial federal government shutdown.

• Press Release

 

International

Bank of England

Letter on Firms’ Preparations for Third Resolvability Assessment Framework Assessment

February 2, 2026

Bank of England Executive Director Ruth Smith sent a letter to chief financial officers of the major U.K. banks ahead of the third Resolvability Assessment Framework (RAF) assessment.

• Letter

 

Speech: ‘Talking ’bout next generation’

February 2, 2026

Bank of England Deputy Governor Sarah Breeden gave a speech titled “Talking ’bout next generation” at the City & Financial Payments Regulation and Innovation Summit 2026.

• Speech

 

Speech: ‘Getting fit for the future’

February 2, 2026

Bank of England Executive Director Afua Kyei gave a speech titled “Getting fit for the future” at the Audit and Risk Committee Dinner in the Undercroft Gallery of the Roman Amphitheatre at Guildhall.

• Speech

 

Speech: ‘Frenemies at the gates’

February 2, 2026

Bank of England Executive Director Rebecca Jackson gave a speech titled “Frenemies at the gates” at an event hosted by the Association of Foreign Banks.

• Speech

 

Financial Conduct Authority

Speech: ‘The role of the FCA and PSR in delivering the National Payments Vision’

February 2, 2026

Financial Conduct Authority Executive Director David Geale gave a speech titled “The role of the FCA and PSR in delivering the National Payments Vision” at the Payments Regulation and Innovation Summit 2026.

• Speech

 

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 Christopher J. Waller (sworn in December 18, 2020)
• Governor Lisa D. Cook (sworn in September 13, 2022 – SCOTUS hearing on purported termination to be held in January 2026)
• Stephen Miran (sworn in September 16, 2025)

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, nominated to be Chair September 30, 2025 and Confirmed December 18, 2025)

• Vice Chairman Vacant
• Director Vacant
• Director Jonathan Gould (Comptroller of the Currency)
• Director Russel Vought (Director of Consumer Financial Protection Bureau)

Office of the Comptroller of the Currency – Jonathan Gould (effective July 15, 2025)

Securities and Exchange Commission – Paul Atkins (effective April 9, 2025)

Commodity Futures Trading Commission – Michael Selig (confirmed December 18, 2025)

Consumer Financial Protection Bureau – 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