Daily Financial Regulation Update -- Tuesday, November 4, 2025

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Federal Agencies

U.S. Department of the Treasury

Treasury Announces Marketable Borrowing Estimates

November 3, 2025

The U.S. Department of the Treasury announced its current estimates of privately held net marketable borrowing for the October–December 2025 and January–March 2026 quarters.

• Press Release

 

Economy Statement for the Treasury Borrowing Advisory Committee

November 3, 2025

The Treasury Borrowing Advisory Committee released a statement on economic data received through Sept. 30, 2025.

• Statement

 

Federal Reserve Board

October 2025 Senior Loan Officer Opinion Survey on Bank Lending Practices

November 3, 2025

The Federal Reserve Board released the October 2025 Senior Loan Officer Opinion Survey on Bank Lending Practices.

• Survey

 

Speech on the Economic Outlook and Monetary Policy

November 3, 2025

Federal Reserve Board Governor Lisa D. Cook gave a speech on the economic outlook and monetary policy at the Brookings Institution.

• Speech

 

OIG Report: 2025 Audit of the Board's Information Security Program

November 3, 2025

The Office of Inspector General of the Federal Reserve Board issued a report on the 2025 audit of the board’s information security program.

• Report
• Summary

 

Consumer Financial Protection Bureau

2025 Audit of the CFPB’s Information Security Program

November 3, 2025

The Office of Inspector General of the Consumer Financial Protection Bureau released the 2025 audit of the agency’s information security program.

• Report
• Summary

 

Bank Policy Institute

One-Pager: ‘Despite GENIUS Act, Crypto Pathways Remain for Criminals and Terrorists to Exploit U.S. Financial System’

November 3, 2025

The Bank Policy Institute released a one-pager titled “Despite GENIUS Act, Crypto Pathways Remain for Criminals and Terrorists to Exploit U.S. Financial System.”

• One-Pager

 

International

European Banking Authority

​ EBA Consults on Third-Country Branches Under the Capital Requirements Directive

November 3, 2025

The European Banking Authority launched a public consultation on guidelines on authorization of third-country branches (TCBs) under the Capital Requirements Directive (CRD). The guidelines are another piece of regulation implementing the new EU framework applicable to TCBs, contributing to the harmonized access to the EU market and to the consistent application of such a new regime.

• Consultation Paper
• Press Release

 

Reports: Market Share of Non-EU Bank Subsidiaries Remains Stable

November 3, 2025

The European Banking Authority published two reports on the market share of subsidiaries of non-EU banks in the EU remaining stable at 9.8% of total assets, as well as on EU banks’ assets and liabilities in foreign currencies.

• CFA Report
• EU Banks Report
• Press Release

 

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 Christopher J. Waller (sworn in December 18, 2020)
• Governor Lisa D. Cook (sworn in September 13, 2022 – SCOTUS hearing on purported termination to be held in January 2026)
• 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

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