The Federal Reserve Board ("FRB") issued scenarios for the 2019 Comprehensive Capital Analysis and Review and Dodd-Frank Act stress tests. Each scenario includes 28 variables ( e.g., gross domestic product, the unemployment rate, stock market prices and interest rates) that cover domestic and international economic activity. The stress tests apply three hypothetical scenarios: a "baseline scenario," which is a "moderate economic expansion through the scenario period," with the unemployment rate increasing to up to 4 percent by the first half of 2021; an "adverse scenario," which is

The Federal Reserve Board ("FRB") (i) finalized enhanced disclosure of the models used in the agency's supervisory stress tests, (ii) altered its policy regarding the scenario design framework and (iii) adopted a policy statement on prior disclosures. The changes are intended to increase the transparency of the stress testing program for the nation's largest and most complex banks. The FRB finalized enhanced disclosure of the models used in the agency's supervisory stress tests conducted under Regulation YY. The final enhanced disclosures consist of three components: (i) "enhanced descriptions

The Office of the Comptroller of the Currency ("OCC") appointed Grovetta Gardineer to Senior Deputy Comptroller for Bank Supervision Policy. Ms. Gardineer will assume the position upon the retirement of Grace Dailey on March 2, 2019. In this role, Ms. Gardineer will (i) lead the formulation of policies for the supervision and examination of national banks and federal savings associations and (ii) oversee staff tasked with evaluating risk to the federal banking system. The OCC stated that Ms. Gardineer will continue to supervise the units that comprise the agency's Compliance and Community

The MSRB identified rules it plans to analyze in 2019 as part of an ongoing retrospective rule review process. The goal of the retrospective review is to ensure that MSRB rules and interpretive guidance are effective in protecting investors, issuers and the public interest. As part of its retrospective rule review, the MSRB will prioritize: the activities of financial advisors ( MSRB Rule G-23); CUSIP numbers, new issue and market information requirements ( MSRB Rule G-34); and the availability of board rules ( MSRB Rule G-29).

The Congressional Research Service ("CRS") analyzed U.S. and international sanctions against Iran. In the report, CRS "tracks implementation of U.S. laws and Executive Orders as designations and imposition of sanctions." CRS acknowledged that it "has no way to independently corroborate whether any individual or other entity might be in violation of U.S. or international sanctions against Iran," and cautioned that it "has not obtained information from the executive branch indicating that ... property [subject to U.S. sanctions] has been blocked."