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, […]
Monthly Archives: October 2020
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 […]
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 […]
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 […]
Agencies Propose Regulation on the Role of Supervisory Guidance
News Release 2020-142 | October 29, 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 Five federal financial regulatory agencies today invited comment on a proposal outlining and confirming the agencies’ use of supervisory guidance for […]
Readout from a Treasury Spokesperson on Secretary Mnuchin’s Conference Call with the Finance Ministers of Australia, Canada, and the United Kingdom
WASHINGTON – On October 28, 2020, U.S. Treasury Secretary Steven T. Mnuchin participated in a conference call with the Finance Ministers of Australia, Canada and the United Kingdom to discuss policies to support business and employment in response to the COVID-19 pandemic. The call, hosted by Chancellor Rishi Sunak, is the latest in a series […]
Statement from Treasury Secretary Steven T. Mnuchin
WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement regarding offsets applied by the Centers for Medicare and Medicaid Services (CMS) to payments due to the Fire Department of New York (FDNY): “For over a decade, the FDNY has been forced to shoulder the burden of debts owed by the NYC government. […]
Treasury Sanctions Companies Selling, Purchasing, and Enabling Iranian Petrochemical Products
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated eight entities for their involvement in the sale and purchase of Iranian petrochemical products brokered by Triliance Petrochemical Co. Ltd. (Triliance), an entity designated by Treasury in January 2020. These entities, based in Iran, China, and Singapore, engaged in […]
Office of the Comptroller of the Currency Conditionally Approves SoFi’s Application to Establish a National Bank
News Release 2020-141 | October 28, 2020 Share This Page: WASHINGTON, D.C.—The Office of the Comptroller of the Currency yesterday granted conditional approval for Social Finance, Inc., to establish a full-service national bank titled SoFi Bank, National Association. The OCC granted preliminary conditional approval based on a thorough evaluation of information available to the agency, including […]
OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Zeta to Close
News Release 2020-140 | October 27, 2020 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices along the Gulf Coast of the United States and in other areas impacted by […]