Federal Agencies
Federal Reserve Board
Speech: Economic Outlook
September 30, 2024
Federal Reserve Board Chair Jerome H. Powell gave a speech entitled “Economic Outlook,” at the National Association for Business Economics Annual Meeting in Nashville, Tennessee.
Speech: Recent Views on Monetary Policy and the Economic Outlook
September 30, 2024
Federal Reserve Board Governor Michelle W. Bowman gave a speech entitled “Recent Views on Monetary Policy and the Economic Outlook,” at the Georgia Bankers Association President/CEO Conference in Charleston, South Carolina.
Federal Reserve Bank of New York
Staff Report: Inequality Within Countries is Falling: Underreporting Robust Estimates of World Poverty, Inequality, and the Global Distribution of Income
September 30, 2024
The Federal Reserve Bank of New York published a staff report entitled “Inequality Within Countries is Falling: Underreporting Robust Estimates of World Poverty, Inequality, and the Global Distribution of Income.”
Staff Report: The Pay and Non-Pay Content of Job Ads
September 30, 2024
The Federal Reserve Bank of New York published a staff report entitled “The Pay and Non-Pay Content of Job Ads.”
Blog: The Central Banking Beauty Contest
September 30, 2024
The Federal Reserve Bank of New York published a Liberty Street Economics article entitled “The Central Banking Beauty Contest.”
Conference of State Bank Supervisors
Statement from CSBS Leadership on FDIC Corporate Governance Proposal
September 30, 2024
Conference of State Bank Supervisors leadership issued a statement on the FDIC’s corporate governance proposal.
Federal Housing Finance Agency
FHFA Proposes Rule to Expand Access to Liquidity for the Federal Home Loan Banks
September 30, 2024
The Federal Housing Finance Agency issued a notice of proposed rulemaking on Federal Home Loan Bank (FHLBank) Unsecured Credit Limits.
Advisory Bulletin to the Federal Home Loan Bank System on Climate Risk
September 30, 2024
The Federal Housing Finance Agency issued an Advisory Bulletin to the Federal Home Loan Bank (FHLBank) System, AB 2024-04: FHLBank System Climate-Related Risk Management, following extensive outreach to the System’s members and other relevant stakeholders through the FHLBank System at 100: Focusing on the Future initiative.
Ginnie Mae
Global Markets Analysis Report – September 2024
September 30, 2024
Ginnie Mae published the Global Markets Analysis Report for September 2024.
International
Bank of England
Financial Conduct Authority
Bank of England and FCA joint approach to the Digital Securities Sandbox
September 30, 2024
The Bank of England and Financial Conduct Authority released a policy statement setting out their joint approach to safely adopting new technologies in the operation of financial market infrastructure.
Guidance on the operation of the Digital Securities Sandbox
September 30, 2024
The Bank of England released guidance on the operation of the Digital Securities Sandbox.
Bank of England
Quarterly Bulletin: A portrait of the UK’s global supply chain exposure
September 30, 2024
The Bank of England published a Quarterly Bulletin article entitled “A portrait of the UK’s global supply chain exposure.”
Minutes of the UK Money Markets Code Sub-Committee – July 2024
September 30, 2024
The Bank of England released the minutes of the UK Money Markets Code Sub-Committee meeting held July 24, 2024.
Real-Time Gross Settlement (RTGS) system and CHAPS Annual Report 2023/24
September 27, 2024
The Bank of England published its 2023/2024 annual report for the Real-Time Gross Settlement and CHAPS.
Financial Conduct Authority
Statement on forbearance in relation to investment trust disclosure requirements
September 30, 2024
The Financial Conduct Authority issued a statement setting out its forbearance given the Government’s intention to exclude some investment trusts from the PRIIPs Regulation and other assimilated law.
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)
- Chair-Designate Christy Goldsmith Romero (nominated June 13, 2024; nomination hearing July 11, 2024)
- 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) (resigned March 11, 2024, effective March 22, 2024)
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)
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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 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.
