Speech: Why Bank Capital Matters
December 1, 2022
Federal Reserve Board Vice Chair for Supervision Michael S. Barr gave a speech entitled, "Why Bank Capital Matters."
Speech: A Supervisory Perspective on the U.S. Banking System
December 1, 2022
Federal Reserve Bank of New York Head of Supervision Group Dianne Dobbeck gave a speech entitled, "A Supervisory Perspective on the U.S. Banking System."
Working Paper: Wage Inequality and the Rise in Labor Force Exit: The Case of US Prime-Age Men
December 1, 2022
The Federal Reserve Bank of Boston published a paper entitled, "Wage Inequality and the Rise in Labor Force Exit: The Case of US Prime-Age Men."
FDIC-Insured Institutions Reported Net Income of $71.7 Billion in Third Quarter 2022
December 1, 2022
Reports from 4,746 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reflect aggregate net income of $71.7 billion in third quarter 2022, an increase of $7.3 billion (11.3%) from the second quarter.
OCC Reduces 2023 Assessments on National Banks and Federal Savings Associations
December 1, 2022
The Office of the Comptroller of the Currency is publishing its assessment rates for the 2023 calendar year, reducing the rates in the general assessment fee schedule, and maintaining assessment rates from 2022 for the independent trust and independent credit card fee schedules.
Testimony of Chairman Rostin Behnam Before the U.S. Senate Committee on Agriculture, Nutrition, and Forestry
December 1, 2022
Commodity Futures Trading Commission Chair Rostin Behnam gave testimony before the U.S. Senate Committee on Agriculture, Nutrition, and Forestry on why congress needs to take action on cryptocurrencies following the collapse of FTX.
CFTC Staff Extends Brexit-Related No-Action Positions
December 1, 2022
The Commodity Futures Trading Commission’s Division of Market Oversight and the Market Participants Division announced today they are extending temporary no-action positions in connection with the withdrawal of the United Kingdom from the European Union.
The CFPB Ombudsman’s Office shares its FY2022 Annual Report
December 1, 2022
The Consumer Financial Protection Bureau Office of the Ombudsman shared its FY2022 annual report.
Regulatory Notice: FINRA Adopts Enhancements to TRACE Reporting for U.S. Treasury Securities
December 1, 2022
FINRA issued a regulatory notice that it has adopted enhancements to TRACE reporting for U.S. Treasury Securities.
NCUA Re-establishes Asset Management and Assistance Center as an Independent Office
December 1, 2022
The National Credit Union Administration Board approved moving management and oversight of Asset Management and Assistance Center (AMAC) activities from the Southern Region to an independent office led by the President of AMAC. The AMAC President will report to the Office of Executive Director.
Department of Financial Services Announces New Proposed Virtual Currency Assessment Regulation
December 1, 2022
The New York Department of Financial Services has published for public comment a proposed regulation establishing how licensed virtual currency businesses would be assessed for costs of their supervision and examination.
Survey: Monthly Decision Maker Panel data – November 2022
December 1, 2022
The Bank of England released the monthly Decision Maker Panel data for November 2022.
Blog: To what extent did the recent increase in long-term UK interest rates reflect UK-specific factors?
December 1, 2022
The Bank of England published a Bank Overground blog post entitled, "To what extent did the recent increase in long-term UK interest rates reflect UK-specific factors?"
FCA highlights continuing concerns about problem firms in the CFD sector
December 1, 2022
The UK Financial Conduct Authority sent a letter to firms offering contacts for difference (CFDs) reminding them that CFDs are highly leveraged derivatives and adverse price movements in relevant markets can lead to substantial losses for consumers.
FCA sets out plans to improve engagement with pensions
December 1, 2022
The UK Financial Conduct Authority (FCA) published a consultation on standards for operators of pension dashboards, and set out requirements for providers of non-workplace pensions. The FCA has also set out final rules requiring non-workplace pension providers to offer consumers a default investment option, to support those struggling to make a choice.
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
Federal Deposit Insurance Corporation – Martin Gruenberg (Acting Chair, appointed February 5, 2022)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
Commodity Futures Trade Commission – Rostin Behnam (effective December 17, 2021)
Financial Crimes Enforcement Network
National Credit Union Administration – Todd M. Harper
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)
Federal Housing Finance Agency – Sandra L. Thompson, (confirmed May 25, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
Click here to read more from our Coronavirus series.
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.
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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