WASHINGTON – The Financial Stability Oversight Council (Council) today voted unanimously to approve a statement summarizing its review of the secondary mortgage market. The Council’s review focused in particular on the activities of Fannie Mae and Freddie Mac (the Enterprises). In conducting the review, the Council applied the framework for an activities-based approach described in […]
Category Archives: U.S. Treasury
Statement of Secretary Steven T. Mnuchin Department of the Treasury Before the Banking, Housing, and Urban Affairs Committee U.S. Senate
Chairman Crapo, Ranking Member Brown, and members of the Committee, I am pleased to join you today to discuss the critical steps the Department of the Treasury and the Federal Reserve have taken over the last six months to provide economic relief for the American people, as well as to provide liquidity to credit markets, […]
Statement on the Passing of the 23rd Comptroller of the Currency James E. Smith
News Release 2020-127 | September 23, 2020 Share This Page: WASHINGTON, D.C. – Acting Comptroller of the Currency Brian P. Brooks issued the following statement upon learning of the passing of James E. Smith, the 23rd Comptroller of the Currency. Today, the OCC family and banking industry lost a giant with the passing of the 23rd […]
OCC Reports Decline in Mortgage Performance
News Release 2020-126 | September 23, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported the performance of first-lien mortgages in the federal banking system declined during the second quarter of 2020. The OCC Mortgage Metrics Report, Second Quarter 2020 showed 91.1 percent of mortgages included in the report were current […]
Treasury Amends Regulations to Restrict Revenue Sources to the Cuban Regime
WASHINGTON – Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended the Cuban Assets Control Regulations (CACR) to further implement the President’s foreign policy to deny the Cuban regime sources of revenue. The changes restrict lodging at certain properties in Cuba; importing Cuban-origin alcohol and tobacco products; attending or organizing professional […]
Treasury Increases Pressure on Russian Financier
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took further action against the network of Kremlin-connected Russian operative Yevgeniy Prigozhin (Prigozhin), by targeting entities and individuals working on behalf of Prigozhin to advance Russia’s influence in the Central African Republic (CAR). Concurrently, OFAC is targeting those that have […]
Statement by a Treasury Spokesperson on the Funding of the Social Security Trust Funds and Payroll Tax Deferral
WASHINGTON – An August 8, 2020, Presidential Memorandum directed the Secretary of the Treasury to use his authority to allow employers to defer the withholding, deposit, and payment of certain payroll taxes for employees who are paid less than $4,000 on a bi-weekly basis. The payroll taxes eligible for deferral are those imposed on wages paid […]
Readout from a Treasury Spokesperson on Secretary Mnuchin’s Meeting with Egyptian Ambassador to the United States Motaz Zahran
WASHINGTON – Today U.S. Treasury Secretary Steven T. Mnuchin met with Egyptian Ambassador to the United States Motaz Zahran. Secretary Mnuchin and Ambassador Zahran reaffirmed the strong bilateral economic relationship between the United States and Egypt and discussed the negotiations on the Grand Ethiopian Renaissance Dam and opportunities for continued collaboration on economic and security […]
Treasury Continues Pressure on Illegitimate Regime Officials Undermining Democracy in Venezuela
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated five key figures that have facilitated the illegitimate Maduro regime’s efforts to undermine democracy in Venezuela. These individuals, including Maduro-supporting members of the Venezuelan National Assembly (Asamblea Nacional or AN), have acted as part of a broader scheme to […]
Statement of Secretary Steven T. Mnuchin Before the Financial Services Committee on September 22, 2020
Chairwoman Waters, Ranking Member McHenry, and members of the Committee, I am pleased to join you today to update you on how the Department of the Treasury and the Federal Reserve have been partnering over the last six months to provide relief for American workers and liquidity to credit markets, businesses, non-profit organizations, state and […]