PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, January 5 2024
January 05, 2024
FedACTion Task Force
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Federal Agencies
Federal Deposit Insurance Corporation
FDIC Quarterly Report Compares the Effects of High Inflation on Banks in the 1970s and the Recent Period
January 4, 2024
The Federal Deposit Insurance Corporation published the FDIC Quarterly report entitled, "Implications of High Inflation for Banking Outcomes and Deposit Flows: Observations From 2021 to 2022 and the 1970s."
Ginnie Mae
The Global Markets Analysis Report – December 2023
January 4, 2024
Ginnie Mae released The Global Markets Analysis Report for December 2023.
Bank Policy Institute
Blog: Are Bank's Operational Risks Significantly Affected by Climate Change?
January 4, 2024
The Bank Policy Institute published a blog post entitled, "Are Bank's Operational Risks Significantly Affected by Climate Change?"
International
Bank of England
Monthly Decision Maker Panel data - December 2023
January 4, 2024
The Bank of England released the data from the monthly Decision Maker Panel survey.
Minutes of the CBDC Technology Forum - October 2023
January 4, 2024
The Bank of England released the minutes of the CBDC Technology Forum meeting held October 13, 2023.
Minutes of the Standards Advisory Panel - December 2023
January 4, 2024
The Bank of England released the minutes of the Standards Advisory Panel meeting held December 5, 2023.
Money and Credit - November 2023
January 4, 2024
The Bank of England released the Money and Credit and effective interest rates statistics for November 2023.
UK International Reserves - December 2023
January 4, 2024
The Bank of England released the UK international reserves data for December 2023.
Administration Changes
Vacancies
Office of the Comptroller of the Currency
- Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision 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 – Martin Gruenberg (effective January 5, 2023)
- Vice Chairman Travis Hill (sworn in January 5, 2023)
- Director Jonathan McKernan (sworn in January 5, 2023)
- Director Michael Hsu (Acting Comptroller of the Currency)
- Director Rohit Chopra (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Michael Hsu (acting Comptroller, effective May 10, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Commodity Futures Trading Commission – Rostin Behnam (effective December 17, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Todd M. Harper (effective January 20, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
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 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.