WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated one Russian individual and three Russia-based companies involved in an attempted sanctions evasion scheme in which an opaque and complex supposed divestment could have unfrozen more than $1.5 billion worth of shares belonging to U.S.-designated Russian oligarch Oleg Vladimirovich […]
Category Archives: U.S. Treasury
Statement from Secretary of the Treasury Janet L. Yellen at the Conclusion of the Section 301 Review
WASHINGTON – Secretary of the Treasury Janet L. Yellen today released the following statement at the conclusion of the Section 301 review: “Since taking office, President Biden and I have made clear that we will take necessary actions to advance the interests of American workers and firms. The results of the Section 301 review announced […]
Statement on the President’s Decision Prohibiting the Acquisition by MineOne Cloud Computing Investment I L.P. of Real Estate, and the Operation of a Cryptocurrency Mining Facility, in Close Proximity to Francis E. Warren Air Force Base
Washington– Today President Biden issued an order prohibiting the purchase and requiring the divestment of certain real estate operated as a cryptocurrency mining facility located within one mile of Francis E. Warren Air Force Base (F.E. Warren AFB), as well as requiring the removal of certain improvements and equipment at the property by MineOne Partners Limited, […]
U.S. Department of the Treasury, IRS Announce Application Opening Date and Increased Available Capacity for Second Year of Program to Spur Clean Energy Investments and Lower Energy Costs in Underserved Communities
Program created by President Biden’s Inflation Reduction Act provides up to 20-percentage point credit boost for projects in low-income and Tribal communities WASHINGTON—Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) announced that applications will open at 9:00 a.m. ET on May 28, 2024 for the 2024 Program Year of the Low-Income Communities Bonus […]
Remarks by Secretary of the Treasury Janet L. Yellen in Stafford County, Virginia
As Prepared for Delivery Thank you for joining me here today. President Biden’s American Rescue Plan was enacted in March 2021, in the depths of the COVID pandemic. It provided much-needed support to states, cities, and counties. They used that support to address their citizens’ urgent needs: from expanding public health services to keeping people […]
Acting Comptroller Issues Statement on Financial Stability Oversight Council’s Report on Nonbank Mortgage Servicing
WASHINGTON — Acting Comptroller of the Currency Michael J. Hsu today issued the following statement in support of the vote by the Financial Stability Oversight Council (FSOC) to issue its Report on Nonbank Mortgage Servicing: I support the issuance of the Financial Stability Oversight Council’s report on nonbank mortgage servicing and its recommendations. Mortgage servicing […]
Treasury Announces Plan to Sell Airline Warrants
WASHINGTON – The U.S. Department of the Treasury announced today its intention to conduct a series of auctions to sell its warrants to purchase the common stock of certain publicly traded airlines to qualified institutional buyers, institutional accredited investors, or the issuing airlines. The proceeds of these sales will provide additional returns to the American […]
READOUT: Financial Stability Oversight Council Meeting on May 10, 2024
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive and public sessions at the U.S. Department of the Treasury (Treasury). During the executive session, the Council received an update from member agency staff on recent and planned work of the Council’s […]
The Financial Stability Oversight Council Releases Report on Nonbank Mortgage Servicing
WASHINGTON — The Financial Stability Oversight Council (Council) today released its Report on Nonbank Mortgage Servicing. The report documents the growth of the nonbank mortgage servicing sector and the critical roles that nonbank mortgage servicers play in the mortgage market. It identifies certain key vulnerabilities that can impair servicers’ ability to carry out these critical […]
Remarks by Assistant Secretary for Financial Markets Joshua Frost on Recent Progress by the Inter-Agency Working Group on Treasury Market Surveillance at the Federal Reserve Bank of New York’s Annual Primary Dealer Meeting
As Prepared for Delivery Introduction Good afternoon and thank you for having me here at the New York Fed’s annual primary dealer meeting. The U.S. Treasury market is the deepest and most liquid market in the world. I’m glad to be here to speak with you, the primary dealers, because of the critical role you […]