News Release 2021-46 | April 15, 2021 Share This Page: WASHINGTON—Deputy Comptroller for Market Risk Policy Kevin Walsh today testified during a hearing before the U.S. House Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets regarding the upcoming cessation of the London Interbank Offered Rates (LIBOR). Related Links Media Contact Stephanie Collins(202) 649-6870 Related […]
Category Archives: U.S. Treasury
Treasury Sanctions Russia with Sweeping New Sanctions Authority
WASHINGTON — Today, the U.S. Department of the Treasury took multiple sanctions actions under a new Executive Order (E.O.) targeting aggressive and harmful activities by the Government of the Russian Federation. Treasury’s actions include the implementation of new prohibitions on certain dealings in Russian sovereign debt, as well as targeted sanctions on technology companies that […]
Treasury Escalates Sanctions Against the Russian Government’s Attempts to Influence U.S. Elections
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took sweeping action against 16 entities and 16 individuals who attempted to influence the 2020 U.S. presidential election at the direction of the leadership of the Russian Government. This announcement follows the Intelligence Community’s (IC) “Assessment of Foreign Threats to […]
Treasury Sanctions Russian Persons in the Crimea Region of Ukraine
OFAC takes action in partnership with the European Union, United Kingdom, Canada, and Australia WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated five individuals and three entities related to Russia’s occupation of the Crimea region of Ukraine and its severe human rights abuses against the local population. […]
Readout: Secretary Yellen and Gene Sperling’s Meeting with NGA Executive Committee
Today, Secretary Janet L. Yellen met virtually with members of the National Governors Association’s Executive Committee to discuss ongoing efforts by Treasury to help states and localities recover from the COVID-19 pandemic. Secretary Yellen told governors present that she understands the significant economic challenges many states are facing and noted the importance of $350 billion […]
Testimony of Brian Smith, Deputy Assistant Secretary for Federal Finance, to the House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets
Thank you to Chair Sherman and Ranking Member Huizenga for calling a hearing on this important issue. As Treasury’s Deputy Assistant Secretary for Federal Finance, I oversee the Department’s work on the LIBOR transition. Though LIBOR is used in more than $200 trillion of outstanding financial contracts today, two tenors of USD LIBOR will cease […]
READOUT: Deputy Secretary Wally Adeyemo’s Meeting with the California League of Cities
Today, Deputy Secretary Wally Adeyemo met virtually with more than 500 local government officials to discuss the Treasury Department’s upcoming distribution of the American Rescue Plan’s (ARP) $350 billion State and Local Fiscal Recovery Fund. The meeting was hosted by the California League of Cities, the California municipal chapter of the National League of Cities. Deputy […]
Treasury, IRS disburse 2 million more Economic Impact Payments under the American Rescue Plan; VA beneficiaries bring total to approximately 159 million as payments continue
WASHINGTON — Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they are disbursing nearly 2 million payments in the fifth batch of Economic Impact Payments from the American Rescue Plan. Today’s announcement brings the total disbursed so far to approximately 159 million payments, with […]
Treasury Establishes New Office to Lead Implementation of Relief and Recovery Programs
WASHINGTON – Today, the U.S. Department of the Treasury announced the establishment of the Office of Recovery Programs to lead the Department’s implementation of economic relief and recovery programs, including nearly $420 billion in programs from the American Rescue Plan Act of 2021. This new office, which will be led by the Chief Recovery Officer, […]
Treasury Sanctions Regional Commander of Mexico’s CJNG in Coordination with Justice and State Actions
WASHINGTON – Yesterday, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) identified Audias Flores Silva (Flores Silva) as a significant foreign narcotics trafficker pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act). Flores Silva (a.k.a. “Jardinero”) is one of the Cartel de Jalisco Nueva Generacion’s (CJNG) regional commanders in control […]