left-caret
Insights

ph fedaction financial regulatory updates homepage

Daily Financial Regulation Update -- Saturday, October 23, 2021

October 23, 2021

By FedACTion Task Force

Subscribe to PH FedACTion: Financial Regulatory Updates

PH Client Alerts

Click here to read more from our Coronavirus series.

Congress

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 the Consolidated 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.

Federal Agencies

Federal Reserve Board

Speech: Governor Bowman on the Lack of New Bank Formations Being a Significant Issue for the Banking Industry

October 22, 2021

Federal Reserve System Governor Michelle W. Bowman have a speech titled, "The Lack of New Bank Formations is a Significant Issue for the Banking Industry," at the 2021 Community Bankers Symposium: Banking on the Future.

Federal Reserve Bank of New York

Blog Post: How Much Have Consumers Spent on Imports during the Pandemic?

October 22, 2021

The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled, "How Much Have Consumers Spent on Imports during the Pandemic?"

Federal Deposit Insurance Corporation

Final Rulemaking Amends Interagency Real Estate Lending Standards

October 22, 2021

The Federal Deposit Insurance Corporation (FDIC) adopted a final rule to amend the Interagency Guidelines for Real Estate Lending Policies to incorporate consideration of the capital framework established in the community bank leverage ratio rule into the method for calculating the ratio of loans in excess of the supervisory loan-to-value limits (LTV limits). The amendment provides a consistent approach for calculating the ratio of loans in excess of the supervisory LTV limits at all FDIC-supervised institutions without requiring the computation of total capital.

Remarks by FDIC Chairman Jelena McWilliams at the 2021 Community Bankers Symposium: Banking on the Future

October 22, 2021

Federal Deposit Insurance Corporation Chairman Jelena McWilliams gave a speech at the 2021 Community Bankers Symposium: Banking on the Future.

International

European Banking Authority

EBA Replies to the European Commission's Call for Advice on Funding in Resolution and Insolvency as Part of the Review of the Crisis Management and Deposit Insurance Framework

October 22, 2021

The European Banking Authority (EBA) published its advice to the EU Commission on funding in resolution and insolvency as part of the review of the crisis management and deposit insurance framework

Bank of England

Paper: Optimal monetary policy mix at the zero lower bound

October 22, 2021

The Bank of England published a staff working paper titled, "Optimal Monetary Policy Mix at the Zero Lower Bound."

UK Financial Conduct Authority

Investment Firms Prudential Regime Final Rules Published

October 22, 2021

The Financial Conduct Authority published final rules to streamline and simplify prudential requirements for solo-regulated UK firms authorized under the Markets in Financial Instruments Directive.

Administration Changes

Appointments/Confirmation Hearings

U.S. Department of the Treasury - Janet Yellen (effective January 26, 2021)

Consumer Financial Protection Bureau - Rohit Chopra (effective October 12, 2021)

Securities and Exchange Commission - Gary Gensler (effective April 17, 2021)

Small Business Administration - Isabella Casillas Guzman (effective March 16, 2021)

Commodity Futures Trade Commission

Financial Crimes Enforcement Network

National Credit Union Administration - Todd M. Harper

U.S. Department of Housing and Urban Development - Marcia Fudge (effective March 10, 2021)

Federal Housing Finance Agency

U.S. Department of Education - Dr. Miguel Cardona (effective March 2, 2021)

Get In Touch With Us

Contact Us