Daily Financial Regulation Update -- Thursday, October 30, 2025

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Federal Agencies

Federal Reserve Board

Federal Reserve Lowers Interest Rates

October 29, 2025

The Federal Open Market Committee decided to lower the target range for the federal funds rate by 0.25% to 3.75-4%.

• Statement
• Implementation Note

 

Federal Reserve Bank of New York

Statement: Reinvestment of Principal Payments From Treasury Securities and Agency Securities

October 29, 2025

Beginning in December, the Open Market Trading Desk at the Federal Reserve Bank of New York will roll over at auction all principal payments from the Federal Reserve’s holdings of Treasury securities and will reinvest all principal payments from the Federal Reserve’s holdings of agency securities into Treasury bills through secondary market purchases.

• Statement

 

Conference of State Bank Supervisors

CSBS President and CEO Issues Statement on CFPB Public Orders Registry

October 29, 2025

Conference of State Bank Supervisors president and CEO, Brandon Milhorn, issued a statement regarding the Consumer Financial Protection Bureau’s recission of its Nonbank Public Orders Registry.

• Statement

 

Consumer Financial Protection Bureau

CFPB Rescinds Nonbank Public Orders Registry

October 29, 2025

The Consumer Financial Protection Bureau issued a final rule to rescind its rule requiring certain types of nonbank covered persons subject to certain final public orders obtained or issued by a government agency in connection with the offering or provision of a consumer financial product or service to report the existence of the orders and related information to a bureau registry.

• Final Rule
• CFPB Statement

 

Bank Policy Institute

Joint Statement on Court’s Decision to Stay Section 1033 Compliance Deadline

October 29, 2025

The Bank Policy Institute, Kentucky Bankers Association and Forcht Bank released a joint statement after the U.S. District Court for the Eastern District of Kentucky approved a request on Oct. 29 to stay the compliance deadline for the CFPB’s Section 1033 rule. 

• Statement

 

International

European Banking Authority

EBA Publishes Final Draft Technical Standards on Materiality of CVA Risk Exposures

October 29, 2025

The European Banking Authority published its final draft Regulatory Technical Standards (RTS) to specify the conditions and criteria to assess whether the credit valuation adjustment (CVA) risk exposures arising from fair-valued securities financing transactions are material. The RTS also address the frequency of that assessment.

• Final Report
• Press Release

 

Bank of England

Money and Credit — September 2025

October 29, 2025

The Bank of England released the Money and Credit statistics for September 2025, including effective interest rates.

• Money and Credit
• Effective Interest Rates

 

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 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; purportedly terminated August 25, 2025)
• 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

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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