News Release 2020-147 | November 9, 2020 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Fall 2020. Banks remain in strong financial […]
Category Archives: U.S. Treasury
Treasury and IRS to Issue Proposed Regulations Clarifying that Businesses Structured as Pass Through Entities May Deduct Certain State and Local Income Taxes Similar to C Corporations
WASHINGTON – Today the U.S. Treasury Department and Internal Revenue Service (IRS) released a notice regarding proposed regulations that will clarify that State and local income taxes imposed on and paid by a pass-through entity are allowed as a deduction by the pass-through entity in computing its non-separately stated taxable income or loss for the […]
Treasury Imposes Sanctions on Petroleum Network, Senior Syrian Officials, and Syrian Entities
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against Syrian military officials, members of the Syrian Parliament, Government of Syria entities, and Syrian and Lebanese persons attempting to revive Syria’s deteriorating petroleum industry. Specifically, OFAC added seven individuals and 10 entities to the Specially Designated Nationals […]
Treasury Targets Corruption in Lebanon
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Gibran Bassil (Bassil), the President of the Free Patriotic Movement (FPM) political party and Member of Parliament (MP), pursuant to Executive Order (E.O.) 13818, for his role in corruption in Lebanon. E.O. 13818, which builds upon and implements the […]
OCC Updates Director’s Toolkit
News Release 2020-146 | November 5, 2020 Share This Page: WASHINGTON— The Office of the Comptroller of the Currency today announced updates to its Director’s Toolkit to help bank directors for national banks and federal savings associations fulfill their corporate governance responsibilities. The Director’s Toolkit serves as a helpful guide for bank directors on strategic issues, […]
Minutes of the Meeting of the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association November 3, 2020
The Committee convened in a closed session via teleconference at 9:30 a.m. All members were present, except for Bob Miller, Ajay Rajadhyaksha, and Irene Tse. Principal Deputy Assistant Secretary for Financial Markets Kipp Kranbuhl, Deputy Assistant Secretary for Federal Finance Brian Smith, Director of the Office of Debt Management Fred Pietrangeli, and Deputy Director of […]
Agencies Release Paper on Operational Resilience
News Release 2020-144 | October 30, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency Federal bank regulatory agencies today released a paper outlining sound practices designed to help large banks increase operational resilience. Examples of risks to operational resilience include cyberattacks, […]
Acting Comptroller of the Currency Kicks off L.A. REACh
News Release 2020-143 | October 30, 2020 Share This Page: LOS ANGELES—Acting Comptroller of the Currency Brian P. Brooks today joined civic leaders, community advocates, and bankers to kick off Project REACh regional efforts in Los Angeles—L.A. REACh. REACh stands for Roundtable for Economic Access and Change, and the project brings together leaders from the banking […]
Third Joint Committee Meeting Under The Bilateral Agreement Between The United States Of America And The European Union On Prudential Measures Regarding Insurance And Reinsurance
WASHINGTON – On October 26, 2020, the United States and the European Union held the third meeting of the Joint Committee established under the U.S.-EU Agreement on Prudential Measures Regarding Insurance and Reinsurance (“the Agreement” hereafter). The United States and the European Union signed the Agreement on September 22, 2017, and the Agreement entered into […]
Report on U.S. Portfolio Holdings of Foreign Securities at End-Year 2019
Washington – The findings from the annual survey of U.S. portfolio holdings of foreign securities at year-end 2019 were released today and posted on the Treasury web site at https://www.treasury.gov/resource-center/data-chart-center/tic/Pages/shcreports.aspx The survey was undertaken jointly by the U.S. Department of the Treasury, the Federal Reserve Bank of New York, and the Board of Governors of […]