As Prepared for Delivery Two years ago on the eve of the Annual Meetings, I called for the evolution of the multilateral development banks. Today, I am glad to be here with President Banga, Lord Malloch-Brown, and Minister Musokotwane to lay out what we’ve achieved and to reaffirm our commitment to sustaining momentum. I called […]
Category Archives: U.S. Treasury
Remarks by Secretary of the Treasury Janet L. Yellen at Press Conference Ahead of the 2024 Annual Meetings of the International Monetary Fund and World Bank
As Prepared for Delivery Let me thank the IMF and the World Bank for hosting these meetings and all of you for attending today. I’d like to start by stepping back and speaking about how far we’ve come. Three years ago when I attended my first Annual Meetings as Treasury Secretary, the COVID-19 pandemic was […]
U.S. Department of the Treasury Releases Final Rules to Strengthen U.S. Semiconductor Industry
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 […]
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 […]