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Federal Agencies

Federal Reserve Board

Paper: The impact of risk cycles on business cycles: a historical view

September 12, 2022

The Federal Reserve Board published a paper entitled, "The impact of risk cycles on business cycles: a historical view."

Federal Reserve Bank of New York

Survey of Consumer Expectations: Inflation Expectations Continue Decline at the Short-, Medium-, and Long-Term Horizons

September 12, 2022

The Federal Reserve Bank of New York released the Survey of Consumer Expectations for August 2022.

Office of the Comptroller of the Currency

OCC Announces Chief Climate Risk Officer

September 12, 2022

The Office of the Comptroller of the Currency announced the appointment of Dr. Yue (Nina) Chen as Chief Climate Risk Officer.

U.S. Small Business Administration

OIG Report: COVID-19 Economic Injury Disaster Loan Applications Submitted from Foreign IP Addresses

The U.S. Small Business Administration Office of Inspector General released a report entitled, "COVID-19 Economic Injury Disaster Loan Applications Submitted from Foreign IP Addresses."

Bank Policy Institute

Blog: Regulatory Risks May Discourage Small-Dollar Lending by Banks

September 12, 2022

The Bank Policy Institute published a blog post entitled, "Regulatory Risks May Discourage Small-Dollar Lending by Banks."

International

European Banking Authority

ESAs warn of rising risks amid a deteriorating economic outlook

September 12, 2022

The three European Supervisory Authorities (EBA, EIOPA and ESMA) issued their Autumn 2022 joint risk report.

Bank of England

Market Notice – Operational Arrangements – 19 September 2022 Bank Holiday

September 12, 2022

A bank holiday for the State Funeral of Her Majesty Queen Elizabeth II has been announced for Monday 19 September 2022. This Market Notice sets out a number of changes to the Bank of England's operational arrangements on the bank holiday and over the mourning period.

Administration Changes

Vacancies

Federal Deposit Insurance Corporation

  • Chair – Vacant (Martin Gruenberg serves as Acting Chair)
  • Vice Chairman – Vacant

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)

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)

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.