Print ArticleMarch 2025
DC Updates
DC Updates highlights recent press releases on actions of the Federal Reserve Board as well as speeches and congressional testimonies of Board members that may be of interest to community bankers. All the Federal Reserve Board’s rulemakings, press releases, testimonies, speeches, and policy statements can be found on the Board's website. The updates listed below reflect actions, speeches, and testimonies from December 1, 2024, to January 27, 2025.
Public Releases
Matters Related to Safety and Soundness Supervision and Consumer Affairs
Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by the California Wildfires and Straight-Line Winds (January 14, 2025)
The Federal Reserve Board, in conjunction with the California Department of Financial Protection and Innovation, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC), issued a statement providing information and resources regarding supervisory practices for institutions affected by the California wildfires and straight-line winds. The Federal Reserve has also published disaster preparedness and recovery resources relating to the 2025 California wildfires on its public website.
Status of Certain Investment Funds and Their Portfolio Investments for Purposes of Regulation O and Reporting Requirements Under Part 363 of FDIC Regulations (December 27, 2024)
The Federal Reserve, the FDIC, and the OCC (collectively, the “federal banking agencies”) issued a statement stating that they will continue to exercise discretion to not take enforcement action against either an asset manager that is a principal shareholder of a bank, or a bank for which an asset manager is a principal shareholder, with respect to extensions of credit by the bank to the related interests of such asset manager that otherwise would violate Regulation O.
Updated Community Reinvestment Act Asset-Size Thresholds for 2025 (December 19, 2024)
The Federal Reserve Board and the FDIC announced the updated 2025 Community Reinvestment Act "small bank" and "intermediate small bank" asset-size thresholds. These asset-size thresholds are in effect from January 1, 2025, through December 31, 2025.
Interagency Statement on Elder Financial Exploitation (December 5, 2024)
The Federal Reserve, the Consumer Financial Protection Bureau, the FDIC, the NCUA, the OCC, the Financial Crimes Enforcement Network (FinCEN), and state financial regulators issued a statement providing supervised institutions with examples of risk management and other practices that may be effective in combatting elder financial exploitation.
Other Federal Reserve Board Announcements
Federal Reserve Board Has Withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) (January 17, 2025)
The NGFS has increasingly broadened its scope of work, covering a wider range of issues that are outside of the Board's statutory mandate.
Michael S. Barr Announces Plans to Step Down from His Position as Federal Reserve Board Vice Chair for Supervision (January 6, 2025)
Michael S. Barr announced his intention to step down from his position as Vice Chair for Supervision. Barr will continue to serve as a member of the Federal Reserve Board of Governors.
The Federal Banking Agencies Announced Their Third Notice Requesting Comment to Reduce Regulatory Burden (December 3, 2024)
The Economic Growth and Regulatory Paperwork Reduction Act of 1996 requires the Federal Financial Institutions Examination Council and the federal banking agencies to review their regulations at least once every 10 years to identify outdated or otherwise unnecessary regulatory requirements for their supervised institutions.
Speeches
Speeches Related to Supervision and Regulation
Reflections on 2024: Monetary Policy, Economic Performance, and Lessons for Banking Regulation, speech given by Governor Michelle W. Bowman at the California Bankers Association 2025 Bank Presidents Seminar, Laguna Beach, CA, on January 9, 2025.
Speeches Related to the U.S. Economy and Monetary Policy
Challenges Facing Central Bankers, speech given by Governor Christopher J. Waller for the Organization for Economic Cooperation and Development’s (OECD’s) Lectures of the Governor seminar series, Paris, France, on January 8, 2025.
An Assessment of the Economy and Financial Stability, speech given by Governor Lisa D. Cook at the University of Michigan Law School’s Seventh Conference on Law and Macroeconomics, Ann Arbor, MI, on January 6, 2025.
A Year in Review: A Tale of Two Supply Shocks, speech given by Governor Adriana D. Kugler at the Detroit Economic Club, Detroit, on December 3, 2024.
Cut or Skip?, speech given by Governor Christopher J. Waller at the Building a Better Fed Framework: American Institute for Economic Research Monetary Conference, Washington, DC, on December 2, 2024.