The Fed measures coincided with President Obama’s announcement the Treasury Department would cut executive compensation at seven bailed-out Wall Street firms.

President Obama: “It does offend our values when executives of big financial firms, firms that are struggling, pay themselves huge bonuses even as they continue to rely on taxpayer assistance to stay afloat.”

Despite the celebrated pay cuts, three key executives at the notorious bailed-out firm AIG were allowed to keep their bonuses. White House pay czar Kenneth Feinberg said he relented after AIG argued the executives were critical to the company’s long-term success. Feinberg said allowing the executives to keep their bonuses is in the public interest because it would allow the company to make enough money to pay back taxpayers for the bailout.