WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against Iran’s Interior Minister for his role in serious human rights abuses against Iranians, as well as seven senior officials of Iran’s Law Enforcement Forces (LEF) and a provincial commander of Iran’s Islamic Revolutionary Guard Corps (IRGC). Today’s […]
Category Archives: U.S. Treasury
Treasury Designates China-based Mahan Air General Sales Agent
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 […]
Treasury is Delivering Millions of Economic Impact Payments by Prepaid Debit Card
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 […]
Statement of Secretary Steven T. Mnuchin Before the Senate Committee on Banking, Housing, and Urban Affairs
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 […]
Regulators Temporarily Change the Supplementary Leverage Ratio to Increase Banking Organizations’ Ability to Support Credit to Households and Businesses In Light of the Coronavirus Response
News Release 2020-62 | May 15, 2020 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 temporary changes to their supplementary leverage ratio rule. The temporary modifications will provide flexibility to certain depository institutions to expand […]
Treasury International Capital Data for March
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 […]
SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application
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 […]
Comptroller of the Currency Discusses Efforts to Support the Federal Banking System’s Response to COVID-19
News Release 2020-61 | May 12, 2020 Share This Page: WASHINGTON—Comptroller of the Currency Joseph M. Otting today testified during a hearing held by the U.S. Senate Committee on Banking, Housing, and Urban Affairs. The Comptroller’s testimony discussed the agency’s efforts to support the safe, sound, and fair operation of the federal banking system and promote […]
Statement from Secretary Steven T. Mnuchin on the Start of Secondary Market Corporate Credit Facility Purchases
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 […]
Update on Treasury Implementation of the Payroll Support Program for the Aviation Industry
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 […]