PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, October 2, 2026
October 02, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Board
Speech: ‘Modernizing Financial Regulation: Initial Observations from eSLR’
October 1, 2026
Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman gave a speech titled “Modernizing Financial Regulation: Initial Observations from eSLR” at the Atlantic Council 2026 CEO & Senior Management Summit in Washington.
Speech: ‘The US Economy and Monetary Policy’
October 1, 2026
Federal Reserve Board Vice Chair Philip N. Jefferson gave a speech titled “The U.S. Economy and Monetary Policy” at the Darden School of Business at the University of Virginia in Charlottesville.
Speech: ‘The Data Version of Godzilla Versus Kong: FRED Takes on AI’
October 1, 2026
Federal Reserve Board Gov. Christopher J. Waller gave a speech titled “The Data Version of Godzilla versus Kong: FRED Takes on AI” at “Navigating Trust, AI and Storytelling in a World of Data" at the FRED Conference 2026 at the Federal Reserve Bank of St. Louis in St. Louis.
Federal Reserve Bank of New York
Staff Report: ‘Fleeting Forbearance in a World of Persistent Financial Distress’
October 1, 2026
The Federal Reserve Bank of New York published a staff report titled “Fleeting Forbearance in a World of Persistent Financial Distress.”
Blog: ‘Navigating Geoeconomic Risk in the US Stock Market’
October 1, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Navigating Geoeconomic Risk in the U.S. Stock Market.”
Federal Deposit Insurance Corporation
Article: ‘An Update on Farm Bank Performance’
October 1, 2026
The Federal Deposit Insurance Corporation published a Banking Issues In Focus article titled “An Update on Farm Bank Performance.”
Securities and Exchange Commission
SEC Proposal Would Address How Investment Advisers and Funds Can Custody Crypto Assets Under the Federal Securities Laws
October 1, 2026
The Securities and Exchange Commission proposed new rules and amendments to provide a tailored framework for the custody of crypto assets for registered investment advisers and regulated funds, i.e., registered investment companies and business development companies.
- Fact Sheet
- Proposed Rule
- Press Release
- Chair Atkins Statement
- Commissioner Peirce Statement
- Commissioner Uyeda Statement
Chair Atkins and Commissioner Uyeda’s Statement on the Departure of Commissioner Peirce
October 1, 2026
Securities and Exchange Commission Chair Paul S. Atkins and Commissioner Mark T. Uyeda issued a statement following the departure of Commissioner Hester Peirce.
SEC’s Division of Examinations Announces New Exam Handbook
October 1, 2026
The Securities and Exchange Commission’s Division of Examinations published its new handbook, “The SEC Exam Handbook: A Practical Guide on Process and Engagement,” which replaces and expands upon the previous examination brochure by providing registrants with more insight and detail about what to expect during an examination.
Commodity Futures Trading Commission
CFTC Staff Extends Brexit-Related No-Action Positions
October 1, 2026
The Commodity Futures Trading Commission’s Market Participants Division and Division of Market Oversight announced they are extending temporary no-action positions in connection with the withdrawal of the United Kingdom from the European Union, known as Brexit.
Prepayment Monitoring Report — Q2
September 30, 2026
The Federal Housing Finance Agency released the Prepayment Monitoring Report for the second quarter.
Bank Policy Institute
Blog: ‘Banks Can Count on the Discount Window … If Regulators Will Let Them’
September 30, 2026
The Bank Policy Institute published a blog post titled “Banks Can Count on the Discount Window … if Regulators Will Let Them.”
Blog: ‘Replacing Reserve Balances: Loans, Not Treasuries, Should Back Banks’ Discount Window Capacity’
September 30, 2026
The Bank Policy Institute published a blog post titled “Replacing Reserve Balances: Loans, Not Treasuries, Should Back Banks’ Discount Window Capacity.”
International
Bank of England
Speech: ‘New Horizons: The Legal and Commercial Frontier of Digital Assets’
October 1, 2026
Bank of England Executive Director Sasha Mills gave a speech titled “New horizons: the legal and commercial frontier of digital assets” at the Hogan Lovells and Global Digital Finance Digital Assets Summit.
Minutes of the Meeting of the Court of Directors Held on 16 July
October 1, 2026
The Bank of England released the minutes of the Court of Directors meeting held on July 16.
Speech: ‘Financial Conditions: What’s Priced In?’
October 1, 2026
Monetary Policy Committee Member Catherine L. Mann gave a speech titled “Financial conditions: what’s priced in?”
Speech: ‘A Unique Vantage Point’
October 1, 2026
Bank of England Executive Director Nathanael Benjamin gave a speech titled “A unique vantage point.”
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
Contributors
