Daily Financial Regulation Update -- Monday, September 28, 2026

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Major Developments

Securities and Exchange Commission

Release: ‘Frequently Asked Questions on the Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets’

September 25, 2026

The Securities and Exchange Commission issued an FAQ on the “Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets.”

• FAQs

 

Federal Agencies

Federal Reserve Board

Paper: ‘How Did CECL Affect Bank Lending?’

September 25, 2026

The Federal Reserve Board published a working paper titled “How Did CECL Affect Bank Lending?”

• Paper

 

Federal Reserve Bank of New York

Article: ‘Comparing Select Central Bank Frameworks for Steering Interest Rates’

September 25, 2026

The Federal Reserve Bank of New York published a The Teller Window article titled “Comparing Select Central Bank Frameworks for Steering Interest Rates.”

• Article

 

Speech: ‘Economic Conditions in New York State’

September 25, 2026

Federal Reserve Bank of New York Head of Macroeconomics Jaison Abel gave a speech titled “Economic Conditions in New York State” at the NYBA Business of Banking Conference at the Federal Reserve Bank of New York.

• Presentation

 

Bank Policy Institute

BPI Statement on FTC Proposal to Combat Impersonation Scams

September 25, 2026

The Bank Policy Institute issued a statement in response to the Federal Trade Commission’s advance notice of proposed rulemaking on impersonation scams.

• Statement

 

International

European Commission

Speech by Commissioner Albuquerque at the Interparliamentary Conference on Stability, Economic Coordination and Governance in the EU

September 25, 2026

European Commissioner Maria Luis Albuquerque gave a speech at the Interparliamentary Conference on Stability, Economic Coordination and Governance in the EU.

• Speech

 

European Banking Authority

EU/EEA Risk Dashboard for Q2

September 25, 2026

The European Banking Authority published its Risk Dashboard for the second quarter, summarizing the main risks and vulnerabilities of the EU/EEA banking sector based on supervisory reporting data.

• Risk Dashboard
• Press Release

 

The EBA Consults on Revised Technical Standards for Joint Decisions on Institution-Specific Capital and Liquidity Requirements

September 25, 2026

The European Banking Authority started a public consultation on proposed revisions to the Implementing Technical Standards governing the joint decision process for institution-specific prudential requirements foreseen by Article 113 of the Capital Requirements Directive.

• Consultation Paper
• Annex
• Press Release

 

Bank of England

Working Paper: ‘Inflation Composition and Monetary Stabilization’

September 25, 2026

The Bank of England released a staff working paper titled “Inflation composition and monetary stabilization.”

• Paper

 

Release: ‘Capital Issuance — August 2026’

September 25, 2026

The Bank of England released the capital issuance statistics for August.

• Statistics

 

Minutes of the Market Participants Group Meeting

September 25, 2026

The Bank of England released the minutes of the Market Participants Group meeting held Sept. 24, 2026

• Minutes

 

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