ederal Agencies
U.S. Department of the Treasury
Treasury Sanctions Suppliers of Iranian UAVs Used to Target Ukraine's Civilian Infrastructure
January 6, 2023
The U.S. Department of the Treasury's Office of Foreign Assets Control is designating six executives and board members of U.S. designated Qods Aviation Industries, a key Iranian defense manufacturer responsible for the design and production of unmanned aerial vehicles.
Federal Reserve Board
Paper: Earnings Business Cycles: The Covid Recession, Recovery, and Policy Response
January 6, 2023
The Federal Reserve Board published a working paper entitled, "Earnings Business Cycles: The Covid Recession, Recovery, and Policy Response."
Paper: Welfare and Spending Effects of Consumption Stimulus Policies
January 6, 2023
The Federal Reserve Board published a working paper entitled, "Welfare and Spending Effects of Consumption Stimulus Policies."
Paper: The Information Value of Past Losses in Operational Risk
January 6, 2023
The Federal Reserve Board published a working paper entitled, "The Information Value of Past Losses in Operational Risk."
Speech: Thoughts on Inflation in a Supply-Constrained Economy
January 6, 2023
Federal Reserve Board Governor Lisa D. Cook gave a speech entitled, "Thoughts on Inflation in a Supply-Constrained Economy."
Paper: What are Large Global Banks Doing About Climate Change?
January 5, 2023
The Federal Reserve Board published a working paper entitled, "What are Large Global Banks Doing About Climate Change?"
Federal Reserve Bank of New York
Blog: Global Supply Chain Pressure Index: The China Factor
January 6, 2023
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, "Global Supply Chain Pressure Index: The China Factor."
International
Bank of England
Paper: The demand for long-term mortgage contracts and the role of collateral
January 6, 2023
The Bank of England published a staff working paper entitled, "The demand for long-term mortgage contracts and the role of collateral."
Paper: Negative rates, monetary policy transmission and cross-border lending via international financial centres
January 6, 2023
The Bank of England published a staff working paper entitled, "Negative rates, monetary policy transmission and cross-border lending via international financial centres."
UK Financial Conduct Authority
General Insurance Pricing Practices: Q&As on the published rules
January 6, 2023
The UK Financial Conduct Authority published Q&As on the general insurance pricing practices rules.
Administration Changes
Vacancies
Office of the Comptroller of the Currency
- Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)
Financial Crimes Enforcement Network
- Director – Vacant (Himamauli Das serves as Acting Director)
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 for Supervision Michael Barr (sworn in July 19, 2022)
- Vice Chair Lael Brainard (sworn in May 23, 2022)
- Governor Phillip N Jefferson (sworn in May 23, 2022)
- Governor Lisa D. Cook (sworn in May 23, 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)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
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)
National Credit Union Administration – Todd M. Harper (effective January 20, 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)
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.
