As prepared for delivery The Council first discussed the importance of reference rate reform in 2012, and a great deal of progress has been made since then. The Alternative Reference Rates Committee, or ARRC, has worked to identify and address transition issues, including analysis of potential alternative rates and the recommendation to use the Secured […]
Category Archives: U.S. Treasury
OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting June 29
News Release 2021-64 | June 10, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, June 29, 2021. The virtual meeting is open to the public and will begin at 9:00 a.m. Eastern Daylight […]
Treasury Sanctions Network Financing Houthi Aggression and Instability in Yemen
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating members of a smuggling network that helps fund Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and the Houthis in Yemen. Led by Iran-based Houthi financier Sa’id al-Jamal, this network generates tens of millions of dollars in revenue from […]
Testimony of Deputy Assistant Secretary for Tax Policy Mark J. Mazur to the Subcommittee on Oversight and Subcommittee on Select Revenue Measures, U.S. House of Representatives
Chairman Thompson, Chairman Pascrell, Ranking Member Smith, Ranking Member Kelly, and Members of the Subcommittees: Thank you for inviting me to discuss tax compliance and the Administration’s tax compliance agenda. Improving tax compliance can help meet our Nation’s most important tax policy goals: building a tax system that raises adequate revenue in an equitable and […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Call with Indonesian Finance Minister Sri Mulyani Indrawati
WASHINGTON – Earlier today, Deputy Secretary of the Treasury Wally Adeyemo spoke with Indonesian Finance Minister Sri Mulyani Indrawati. Deputy Secretary Adeyemo expressed his support for strong U.S.-Indonesia relations and close cooperation with Indonesia on key global challenges. He welcomed the shared goals between the United States and Indonesia to work together towards reaching a […]
Testimony of Secretary of the Treasury Janet L. Yellen to the Subcommittee on State, Foreign Operations, and Related Programs, U.S. House of Representatives
Chairwoman Lee, Ranking Member Rogers, and members of the Subcommittee, it’s a pleasure to join you today. When I took office, one of my greatest concerns was a K-shaped recovery from the pandemic; a recovery where high-income households rebounded quickly – or even emerged better-off – while low- and middle-income families suffered for a very […]
More than 2.3 million additional Economic Impact Payments disbursed under the American Rescue Plan; total payments top 169 million
WASHINGTON — The U.S. Department of the Treasury, Internal Revenue Service, and the Bureau of the Fiscal Service announced today they have disbursed more than 2.3 million additional Economic Impact Payments under the American Rescue Plan. Today’s announcement covering the most recent two weeks of the effort brings the total disbursed so far to more […]
Treasury Sanctions Nicaraguan Officials for Supporting Ortega’s Efforts to Undermine Democracy, Human Rights, and the Economy
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four individuals who support the Ortega regime — a regime that has undermined democracy, abused the human rights of civilians, enacted repressive laws with grave economic consequences, and tried to silence the independent news media. The individuals sanctioned today […]
Remarks by Secretary of the Treasury Janet L. Yellen at the SelectUSA Investment Summit
As prepared for pre-recorded video Hello. It’s wonderful to join you to today. I want to thank the Secretary Raimondo and the Commerce Department for inviting me to say a few words about the US economy – and where our administration would like to guide it in the coming years. As you’re likely aware, our […]
Statement from Secretary of the Treasury Janet L. Yellen On G7 Finance Ministers’ Commitment to Global Minimum Tax
The G7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum towards achieving a robust global minimum tax at a rate of at least 15%. That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around […]