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

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Federal Agencies

Federal Reserve Board

Working Paper: ‘Debt Flexibility’

March 2, 2026

The Federal Reserve Board published a revised working paper titled “Debt Flexibility.”

• Paper

 

Federal Reserve Bank of Boston

Working Paper: ‘Bank Runs and Interest Rates: A Revolving Lines Perspective’

March 2, 2026

The Federal Reserve Bank of Boston’s Research Department published a working paper titled “Bank Runs and Interest Rates: A Revolving Lines Perspective.”

• Paper

 

FINRA

FINRA Requests Comment on Modernizing Arbitration Rules, Guidance and Processes

March 2, 2026

FINRA released a regulatory notice requesting comment on key areas of concern raised by commenters and others relating to FINRA’s arbitration forum.

• Regulatory Notice

 

National Credit Union Administration

NCUA Issues Share Insurance Fund Results for Q4 2025

March 2, 2026

The National Credit Union Administration released the performance results of the Share Insurance Fund for the quarter ending on Dec. 31, 2025.

• Press Release

 

International

European Banking Authority

EBA Publishes Final Guidelines on Capital Endowment Requirement for Third-Country Branches

March 2, 2026

The European Banking Authority published its final guidelines on instruments for the capital endowment requirement for third-country branches under the Capital Requirements Directive.

• Guidelines
• Press Release

 

Bank of England

Speech: ‘Getting the right directions’

March 2, 2026

Monetary Policy Committee member Alan Taylor gave a speech titled “Getting the right directions.”

• Speech

 

Money and Credit — January 2026

March 2, 2026

The Bank of England released the Money and Credit statistics and effective interest rates for January 2026.

• Money and Credit
• Effective Interest Rates

 

Financial Conduct Authority

FCA Opens Authorization Gateway for Targeted Support

March 2, 2026

The Financial Conduct Authority announced that firms can now apply for permission to provide targeted support.

• Press Release

 

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

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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