PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, November 7, 2025
November 07, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Working Paper: ‘The Federal Reserve’s Response to the 2023 Banking Turmoil: The Bank Term Funding Program’
November 6, 2025
The Federal Reserve Board published a working paper titled “The Federal Reserve’s Response to the 2023 Banking Turmoil: The Bank Term Funding Program.”
Federal Reserve Bank of New York
Blog: ‘Economic Capital: A Better Measure of Bank Failure?’
November 6, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Economic Capital: A Better Measure of Bank Failure?”
Freddie Mac
Rates Remain Near 2025 Lows
November 6, 2025
Freddie Mac released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage averaged 6.22%.
Bank Policy Institute
Banks Submit Recommendations on Treasury’s Implementation of the GENIUS Act
November 5, 2025
The Bank Policy Institute, the American Bankers Association, Consumer Bankers Association, Financial Services Forum and The Clearing House Association responded to a U.S. Department of the Treasury Advance Notice of Proposed Rulemaking on its implementation of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) Act.
BPI Issues Statement on Federal Reserve Changes to LFI Rating System
November 5, 2025
The Bank Policy Institute issued a statement following the Federal Reserve Board’s finalization of changes to its large financial institution (LFI) rating system.
International
European Banking Authority
EBA: Authorities Made Progress in Approach to Supervision of CVA Risk
November 6, 2025
The European Banking Authority (EBA) published a follow-up peer review report on the exclusion from the credit valuation adjustment (CVA) risk of transactions with non-financial counterparties established in a third country. The review found that all competent authorities have made some progress in strengthening their CVA risk assessments and addressing the follow-up measures suggested as part of that report.
EBA Updates Q4 2024 Supervisory Disclosure Information From EU Competent Authorities
November 6, 2025
The EBA updated the aggregated overview on the implementation and transposition of the revised Capital Requirements Directive (CRD V) and Investment Firms Directive (IFD) packages.
Bank of England
Monetary Policy Report: Bank Rate Maintained at 4%
November 6, 2025
At its meeting ending Nov. 5, the Monetary Policy Committee voted by a majority of 5–4 to maintain Bank Rate at 4%. Four members voted to reduce Bank Rate by 0.25 percentage points to 3.75%.
Monthly Decision Maker Panel Data — October 2025
November 6, 2025
The Bank of England released the October 2025 Decision Maker Panel data.
Publication: ‘Agents’ summary of business conditions — November 2025’
November 6, 2025
The Bank of England released a publication titled “Agents’ summary of business conditions — November 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 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)
- 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 – Caroline D. Pham (Acting Chairman effective January 20, 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
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