Chairman Brown, Ranking Member Toomey, members of the Committee, thank you for having me. We are meeting at a hopeful moment for the economy – but still a daunting one. While we’re seeing signs of recovery, we should be clear-eyed about the hole we’re digging out of: The country is still down nearly 10 million […]
Category Archives: U.S. Treasury
Treasury Secretary Janet L. Yellen Response to State Attorneys General Inquiries on Implementation of Section 9901 of the American Rescue Plan Act
Dear Attorney General Brnovich: I write in reply to your March 16, 2021 letter regarding Treasury’s implementation of section 9901 of the American Rescue Plan Act (the “Act”), which provides funds to States, territories, Tribal governments, and localities to help them manage the economic consequences of COVID-19. In the Act, Congress has provided funding to help […]
Emergency Capital Investment Program: Regulatory Capital Treatment of Instruments Issued Under the Emergency Capital Investment Program: Interim Final Rule
OCC Bulletin 2021-14| March 22, 2021 Share This Page: To Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties Summary On March 22, 2021, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal […]
Treasury and Labor Departments Award Funding for the First Social Impact Partnership Project
WASHINGTON — Today, the U.S. Department of the Treasury and the U.S. Department of Labor are awarding the New York State Energy Research and Development Authority (NYSERDA) with up to $8.2 million for its project to provide clean energy job training to unemployed and low-wage workers, increase participants’ wages, and to evaluate the training’s effectiveness. […]
Treasury and IRS Disbursing More Economic Impact Payments in Coming Days and Weeks
WASHINGTON – Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced that the next batch of Economic Impact Payments will be issued to taxpayers this week, with many of these coming by paper check or prepaid debit card. For taxpayers receiving direct deposit, this batch […]
United States Targets Burmese Military Forces for Repression of Pro-Democracy Protests
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two individuals and two entities connected to the Burmese military and its violent repression of pro-democracy protests. Treasury took these actions in response to the Burmese military’s continued campaign of violence and intimidation against peaceful protesters and civil society. […]
Treasury Sanctions Chinese Government Officials in Connection with Serious Human Rights Abuse in Xinjiang
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two current Chinese government officials in connection with serious human rights abuses against ethnic minorities in the Xinjiang Uyghur Autonomous Region (XUAR). These designations include Wang Junzheng, the Secretary of the Party Committee of the Xinjiang Production and Construction […]
Temporary Supplementary Leverage Ratio Changes to Expire as Scheduled
News Release 2021-35 | March 19, 2021 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will […]
OCC Appoints Five New Members to Mutual Savings Association Advisory Committee
News Release 2021-34 | March 18, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today appointed five new members to its Mutual Savings Association Advisory Committee (MSAAC). The MSAAC’s role includes assessing the condition of mutual savings associations, considering regulatory changes, and recommending steps the OCC may take to ensure the […]
OCC Appoints Seven New Members to Minority Depository Institutions Advisory Committee
News Release 2021-33 | March 18, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today named seven new members to its Minority Depository Institutions Advisory Committee (MDIAC). The MDIAC advises the OCC on steps it can take to ensure the continued health and viability of minority depository institutions and other issues […]