Daily Financial Regulation Update -- Tuesday, September 8, 2026

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Federal Agencies

US Department of the Treasury

Treasury Severs Iranian Regime’s Financial Lifelines in Turkey

September 4, 2026

The Department of the Treasury’s Office of Foreign Assets Control designated Turkey-based financial institution Golden Global Yatirim Bankasi Anonim Sirketi and its subsidiaries, which have facilitated tens of millions of dollars’ worth of transactions for the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).

• Press Release

 

Federal Reserve Board

Working Paper: ‘Exchange Rate Transmission Through Multinational Firms: Evidence From Japan’

September 4, 2026

The Federal Reserve Board published a working paper titled “Exchange Rate Transmission through Multinational Firms: Evidence from Japan.”

• Paper

 

Federal Reserve Bank of Boston

Report: ‘New England Economic Conditions Through Sept. 1, 2026’

September 4, 2026

The Federal Reserve Bank of Boston released a report titled “New England Economic Conditions through Sept. 1, 2026.”

• Release

 

US Department of Labor

BIS Releases August 2026 Jobs Report

September 4, 2026

The Bureau of Labor Statistics released the Employment Situation report for August 2026.

• Report
• Summary

 

International

Bank of England

Report: ‘External Business of Monetary Financial Institutions Operating in the UK — 2026 Q2’

September 4, 2026

The Bank of England released the claims on and liabilities to other countries by U.K.-resident banks and building societies (monetary financial institutions).

• Statistics

 

Working Paper: ‘Macroeconomic Dynamics of the Output Floor’

September 4, 2026

The Bank of England released a staff working paper titled “Macroeconomic dynamics of the output floor.”

• Paper

 

Working Paper: ‘Innovation, Financial Frictions and Persistent Effects of Monetary Policy’

September 4, 2026

The Bank of England released a staff working paper titled “Innovation, financial frictions, and persistent effects of monetary policy.”

• Paper

 

Speech: ‘The Institutional Form of Independent Central Banks: From History to Contemporary Challenges’

September 4, 2026

Bank of England Gov. Andrew Bailey gave a speech titled “The institutional form of independent central banks: from history to contemporary challenges” at the LSE TRIUM anniversary conference.

• Speech

 

Monthly Decision-Maker Panel Data — August

September 4, 2026

The Bank of England released the Monthly Decision Maker Panel data for August 2026.

• Press Release

 

UK Financial Conduct Authority

Paper: ‘Quarterly Consultation No. 53’

September 4, 2026

The Financial Conduct Authority released Quarterly Consultation paper No. 53.

• Paper

 

Administration Changes

Appointments/Confirmation Hearings

U.S. Department of the Treasury – Scott Bessent (effective January 27, 2025)

Federal Reserve Board – Kevin Warsh (effective May 22, 2026)

• 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)
• Governor Jerome H. Powell (sworn in June 16, 2014)

 

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 (effective January 13, 2026)

• Vice Chairman Vacant
• Director Vacant
• Director Jonathan Gould (Comptroller of the Currency)
• Acting Director Mark Paoletta (Acting 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 (effective December 22, 2025)

Consumer Financial Protection Bureau – Mark Paoletta (Acting Director effective August 1, 2026); Nominee Brian Johnson (nominated June 10, 2026 – nomination hearing July 24, 2026)

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