Daily Financial Regulation Update -- Tuesday, September 2, 2025

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Federal Agencies

U.S. Department of the Treasury

Preliminary Annual Report on US Portfolio Holdings of Foreign Securities at Year-End 2024

August 29, 2025

The U.S. Department of the Treasury released preliminary data from an annual survey of U.S. portfolio holdings of foreign securities at year-end 2024.

• Press Release

 

Federal Reserve Board

Federal Reserve Board Announces Final Individual Capital Requirements for Large Banks Effective Oct. 1

August 29, 2025

Following its stress test earlier this year, the Federal Reserve Board announced final individual capital requirements for large banks, effective Oct. 1.

• Large Bank Capital Requirements
• Press Release

 

Speech: ‘Let’s Get On With It’

August 28, 2025

Federal Reserve Board Governor Christopher J. Waller gave a speech titled “Let’s Get On With It.”

• Speech

 

Federal Deposit Insurance Corporation

Update to the FDIC’s Consumer Compliance Examination Manual

August 29, 2025

The Federal Deposit Insurance Corporation’s Consumer Compliance Examination Manual has been updated to reflect that the FDIC will evaluate potential discrimination under the Equal Credit Opportunity Act and Fair Housing Act only through evidence of disparate treatment. 

• Manual
• Financial Institution Letter

 

Office of the Comptroller of the Currency

OCC Decreases the Sept. 30, 2025, Assessment Rates for National Banks and Federal Savings Associations

August 29, 2025

The Office of the Comptroller of the Currency (OCC) announced a decrease in assessment rates for the Sept. 30, 2025, semiannual assessment. 

• Press Release
• Schedule

 

Securities and Exchange Commission

Updates to the Financial Reporting Manual

August 29, 2025

The Securities and Exchange Commission’s Division of Corporation Finance published an updated version of the Financial Reporting Manual.

• Manual 
• Announcement

 

International

European Banking Authority

EBA Responds to European Parliament’s Observations in 2023 Discharge Report

August 29, 2025

The European Banking Authority (EBA) published an opinion in response to the observations made by European Parliament in its 2023 Discharge Report.

• Opinion
• Press Release

 

Bank of England

Working Paper: ‘Measuring the stability of the banking system: capital and liquidity at risk with solvency-liquidity interactions’

August 29, 2025

The Bank of England published a staff working paper titled “Measuring the stability of the banking system: capital and liquidity at risk with solvency-liquidity interactions.”

• Paper

 

Credit Union Quarterly Statistics — Q1 2025

August 29, 2025­­­

The Bank of England released the credit union quarterly statistics for Q1 2025.

• Statistics

 

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; purportedly terminated August 25, 2025)
• Stephen Miran (nominated August 7, 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)

• 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 (effective July 15, 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