The Advanced Manufacturing Investment Credit Will Spur American Job Growth, Fuel Innovation, and Strengthen U.S. Semiconductor Supply Chains WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released final rules for the Advanced Manufacturing Investment Credit (CHIPS ITC) created in the Biden-Harris Administration’s CHIPS and Science Act. President Biden […]
Category Archives: U.S. Treasury
Remarks by Secretary of the Treasury Janet L. Yellen at the Institute of International Finance Annual Membership Meeting
As Prepared for Delivery Tim, thank you very much for your kind words. I am honored to receive the Institute of International Finance’s Distinguished Leadership and Service Award. And let me thank you as well for your leadership of IIF. Over the past few years, and no doubt informed by your own time at Treasury, […]
OCC Finalizes Revisions to Its Recovery Planning Guidelines
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today finalized revisions to its recovery planning guidelines for certain large insured national banks, federal savings associations, and federal branches (banks). The revisions to the recovery planning guidelines are part of the OCC’s effort to ensure that large banks are adequately prepared for and have developed […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Meeting with Prime Minister Mohammad Mustafa of the Palestinian Authority
WASHINGTON – Today, U.S. Deputy Secretary of the Treasury Wally Adeyemo spoke with Palestinian Authority Prime Minister Mohammad Mustafa. They discussed security and economic stability in the West Bank as well as the Palestinian Authority’s efforts to improve its anti-money laundering and countering the financing of terrorism (AML/CFT) regime. Deputy Secretary Adeyemo stressed the importance […]
Price Cap Coalition Issues Updated Advisory for Maritime Industry
U.S. Endorses “Call to Action” on Shadow Fleet WASHINGTON – Today, the Price Cap Coalition, which includes G7 countries as well as the European Union, Australia, and New Zealand, is updating its advisory for both government and private sector actors involved in the global maritime industry. The advisory provides recommendations concerning specific best practices and reflects the Coalition’s ongoing […]
OCC Appoints Receiver for The First National Bank of Lindsay, Lindsay, Oklahoma
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for The First National Bank of Lindsay, in Lindsay, Oklahoma. As of June 30, 2024, the bank reported approximately $108 million of total assets. The OCC acted after identifying false and deceptive bank records and other […]
READOUT: Financial Stability Oversight Council Meeting on October 18, 2024
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive session at the U.S. Department of the Treasury (Treasury). During the meeting, the Council received an update by staff of the Office of the Comptroller of the Currency and Board of Governors […]
Joint Statement of Janet L. Yellen, Secretary of the Treasury, and Shalanda D. Young, Director of the Office of Management and Budget, on Budget Results for Fiscal Year 2024
WASHINGTON – U.S. Secretary of the Treasury Janet L. Yellen and Office of Management and Budget (OMB) Director Shalanda D. Young today released the final budget results for fiscal year (FY) 2024. Under the leadership of President Biden and Vice President Harris, our economy has created over 16 million jobs, unemployment remains the lowest on average […]
OCC Announces Enforcement Actions for October 2024
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises. The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the […]
U.S. Department of the Treasury Reaches Major Milestone, Approving Over $500 Million to Support Small Businesses in Tribal Nations
Treasury’s allocation of over $500 million in SSBCI funding to Tribal Nations is the largest federal investment in Indian Country small businesses in history. WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) announced reaching a major milestone with the approval of over $500 million in State Small Business Credit Initiative (SSBCI) Capital Program […]