Clarida hit ground running at the Fed, with 8 actions to date

Federal Reserve Board Vice Chairman Richard Clarida, the newest governor on the board, had about one day to settle in before he was voting with his fellow members on bank applications, proposed rules and policy.

Federal Reserve Board Vice Chairman Richard Clarida took the oath of office Sept. 17 (with Chairman Jerome H. Powell presiding).

As reported earlier by Regulatory Report, Clarida is due to give a speech in Washington Thursday on the economy and monetary policy. Additionally, he’ll presumably be in the board’s scheduled closed meeting Wednesday (starting at 10 a.m. ET) for a “periodic briefing and discussion on financial markets, institutions, and infrastructure.”

Clarida joined the Fed Board Sept. 17. The next day, he voted with his colleagues to approve a revision to the swap margin rule; and again in a closed meeting on advance and discount rates to be charged by the Federal Reserve Banks.

Based on information published on the Fed’s website, Clarida has cast a total of nine votes, all in the affirmative, on Fed regulatory, policy and supervisory matters. These included another closed meeting in September on monetary policy (the week the Federal Open Market Committee approved its most recent increase in the federal funds rate target).

He also voted with his board colleagues to approve the Fed’s issuance of a proposed rule to amend Regulations H and K; an application by Compass Bank; issuance of a proposal for comment on potential actions to facilitate real-time interbank settlement of faster payments; applications by Security Trust & Savings Bank; and an application by Old National Bancorp.