News Release 2020-51 | April 9, 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 an interim final rule to encourage lending to small businesses through the Small Business Administration’s Paycheck Protection Program, or PPP. […]
Category Archives: U.S. Treasury
Treasury Underscores Commitment to Global Flow of Humanitarian Aid in Face of COVID-19 Pandemic
WASHINGTON—The U.S. Department of the Treasury stands with governments and citizens around the world in the global war against the COVID-19 global pandemic. The United States is committed to ensuring the international flow of humanitarian aid continues through legitimate and transparent channels. Treasury supports the critical work of governments, international organizations, non-profit organizations, and individuals […]
Treasury and Federal Reserve Board Announce New and Expanded Lending Programs to Provide up to $2.3 Trillion in Financing
WASHINGTON – Pursuant to section 13(3) of the Federal Reserve Act, U.S. Treasury Secretary Steven T. Mnuchin today approved the establishment of a Main Street Business Lending Program and a Municipal Liquidity Facility to support the flow of credit to American workers, businesses, States, counties, and cities impacted by the coronavirus pandemic. Small and medium-sized […]
Treasury and IRS Extend Over 300 Tax Filing, Payment and Administrative Deadlines
WASHINGTON – The U.S. Department of the Treasury and the Internal Revenue Service today announced they are extending the deadline for many administrative acts under the tax law as well as the tax filing and payment deadlines for fiscal year businesses, tax-exempt organizations and certain estates and trusts. “In an effort to relieve taxpayers during […]
Agencies Issue Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus
News Release 2020-50 | April 7, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemConsumer Financial Protection BureauFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency The federal financial institution regulatory agencies (the agencies), in consultation with state financial regulators, issued a revised interagency statement encouraging financial […]
Agencies Announce Changes to the Community Bank Leverage Ratio
News Release 2020-49 | April 6, 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 the issuance of two interim final rules to provide temporary relief to community banking organizations. The agencies are acting to […]
Federal Agencies Encourage Mortgage Servicers to Work With Struggling Homeowners Affected by COVID-19
News Release 2020-48 | April 3, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemConference of State Bank SupervisorsConsumer Financial Protection BureauFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency The federal financial institution regulatory agencies and the state financial regulators issued a joint policy statement providing […]
Agencies Will Consider Comments on Volcker Rule Modifications Following Expiration of Comment Period
News Release 2020-47 | April 2, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemCommodity Futures Trading CommissionFederal Deposit Insurance CorporationOffice of the Comptroller of the CurrencySecurities and Exchange Commission Five federal financial regulatory agencies on Thursday announced that they will consider comments submitted before May 1, 2020, on their proposal […]
Social Security Recipients Will Automatically Receive Economic Impact Payments
WASHINGTON – The U.S. Department of the Treasury and the Internal Revenue Service today announced that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact Payment. Instead, payments will be automatically deposited into their bank accounts. “Social […]
Treasury and IRS Release FAQs to Help Small and Midsize Businesses Navigate Paid Sick and Family Leave Tax Credits
WASHINGTON – The U.S. Department of the Treasury and the Internal Revenue Service are offering small and mid-size employers more information on refundable tax credits that reimburse them, dollar-for-dollar, for the cost of providing their employees paid sick and family leave wages related to COVID-19. “The financial strain American businesses are experiencing is not their […]