PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, May 1, 2025
May 01, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
U.S. Department of the Treasury
Report on Foreign Portfolio Holdings of U.S. Securities at End-June 2024
April 30, 2025
The U.S. Department of the Treasury released the final results of the annual survey of foreign portfolio holdings of U.S. securities at the end of June 2024.
Quarterly Refunding Statement of Acting Assistant Secretary for Financial Markets Brian Smith
April 30, 2025
The U.S. Department of the Treasury is offering $125 billion of Treasury securities to refund approximately $94.2 billion of privately-held Treasury notes maturing on May 15, 2025.
United States and European Union Hold Seventh Joint Committee Meeting under the Bilateral Agreement on Prudential Measures Regarding Insurance and Reinsurance
April 30, 2025
The U.S. Department of the Treasury, together with the Office of the U.S. Trade Representative, hosted representatives of the European Commission in Washington for the seventh meeting of the Joint Committee established under the 2017 U.S.-EU Agreement on Prudential Measures Regarding Insurance and Reinsurance.
Report to the Secretary of the Treasury from the Treasury Borrowing Advisory Committee
April 30, 2025
The Treasury Borrowing Advisory Committee issued a report to the Secretary of the Treasury following its meeting held April 29, 2025.
Securities and Exchange Commission
Investor Bulletin: Characteristics of Mutual Funds and Exchange-Traded Funds (ETFs)
April 29, 2025
The Securities and Exchange Commission’s Office of Investor Education and Advocacy published an investor bulletin entitled, “Characteristics of Mutual Funds and Exchange-Traded Funds (ETFs).”
National Credit Union Administration
Unilever Federal Credit Union Closes
April 30, 2025
The National Credit Union Administration liquidated Unilever Federal Credit Union of Englewood Cliffs, New Jersey.
Fannie Mae
Fannie Mae Reports Net Income of $3.7 Billion for First Quarter 2025
April 30, 2025
Fannie Mae reported its first quarter 2025 financial results and filed its First Quarter 2025 Form 10-Q with the Securities and Exchange Commission.
Fannie Mae Releases March 2025 Monthly Summary
April 30, 2025
Fannie Mae released the March 2025 monthly summary.
International
European Banking Authority
The EBA consults on draft amending technical standards on factors assessing the appropriateness of real estate risk weights
April 30, 2025
The European Banking Authority launched a public consultation on its draft amending Regulatory Technical Standards (RTS) on the types of factors to be considered by national authorities in assessing the appropriateness of real estate risk weights.
Bank of England
Credit union quarterly statistics – 2024 Q4
April 30, 2025
The Bank of England released the Q4 2024 credit union statistics.
Speech: Overseeing BPA growth safely
April 30, 2025
Bank of England Executive Director for Insurance Supervision Gareth Truran gave a speech entitled, “Overseeing BPA growth safely,” at the 22nd Westminster and City Annual Bulk Annuities Conference.
Bank of England Prudential Regulation Authority
Consultation Paper: Enhancing banks’ and insurers’ approaches to managing climate-related risks – Update to SS3/19
April 30, 2025
The Prudential Regulation Authority released a consultation paper entitled, “Enhancing banks’ and insurers’ approaches to managing climate-related risks – Update to SS3/19.”
Speech: Maintaining Momentum: Managing Climate risk in a changing world
April 30, 2025
Bank of England Executive Director for Prudential Policy David Bailey gave a speech entitled, “Maintaining Momentum: Managing Climate risk in a changing world,” at the Climate Financial Risk Forum.
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 Bowman (nominated March 17, 2025)
- Governor Michael Barr (sworn in July 19, 2022)
- Governor Michelle W. Bowman (sworn in November 26, 2018)
- Governor Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in September 13, 2022)
- Governor Adriana D. Kugler (sworn in September 13, 2023)
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 Rodney Hood (Acting Comptroller of the Currency)
- Director Russel Vought (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Jonathan Gould (nominated February 11, 2025); Rodney E. Hood (Acting Comptroller effective February 10, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 2025)
Commodity Futures Trading Commission – Brian Quintenz (nominated February 11, 2025); Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – Jonathan McKernan (nominated February 11, 2025); 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
Contributors
