Category Archives: U.S. Treasury

WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating China-based Shanghai Saint Logistics Limited for acting as a general sales agent (GSA) for or on behalf of Iranian airline Mahan Air. This is the seventh designation of a GSA to Mahan Air since 2018. Mahan Air is […]

WASHINGTON— This week, Treasury and the IRS are starting to send nearly 4 million Economic Impact Payments (EIPs) by prepaid debit card, instead of by paper check. EIP Card recipients can make purchases, get cash from in-network ATMs, and transfer funds to their personal bank account without incurring any fees. They can also check their […]

Chairman Crapo, Ranking Member Brown, and members of the Committee, thank you for this opportunity to highlight how the Department of the Treasury and the Federal Reserve are working together to provide liquidity to the financial system.  Our programs support the flow of much-needed credit to American workers, families, businesses, states, and municipalities.  I want […]

WASHINGTON—Today, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.    The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act […]

Washington – The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for March 2020.  The next release, which will report on data for April 2020, is scheduled for June 15, 2020. The sum total in March of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was […]

WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the start of certain Secondary Market Corporate Credit Facility purchases:   “Since announcing the Primary and Secondary Market Corporate Credit Facilities (PMCCF and SMCCF) on March 23, we have seen a dramatic improvement in liquidity and credit market function. Today, the Federal Reserve Bank of New York will begin purchasing shares of eligible U.S.-listed exchange-traded funds in […]

WASHINGTON – Today, the U.S. Department of the Treasury made a number of important announcements on the Payroll Support Program under Title IV of the CARES Act.   Since announcing the Payroll Support Program, Treasury has approved over $25 billion in assistance to 352 applicants, supporting hundreds of thousands of American jobs. Approved applicants include […]