WASHINGTON — U.S. Secretary of the Treasury, Janet L. Yellen released the following statement U.S. Secretary of the Treasury, Janet L. Yellen released the following statement on the Commodity Futures Trading Commission’s (CFTC) proposed guidance on voluntary carbon markets: “I commend the efforts of Chair Behnam and the CFTC to support high-integrity voluntary carbon markets (VCMs). […]
Category Archives: U.S. Treasury
Treasury Affirms Support for Clean Technology Fund through $568 Million Loan that Advances U.S. Climate Commitments, Just Energy Transition Partnerships and MDB Evolution
WASHINGTON — Today, U.S. Secretary of the Treasury Janet L. Yellen addressed the Climate Investment Funds Panel, “Scaling Up Just Energy Transitions to Enable Industry Decarbonization.” She highlighted that the Treasury has signed an agreement for a $568 million loan to the Clean Technology Fund (CTF)—a multilateral trust fund that helps to deploy clean energy in developing countries. The loan is funded by resources appropriated by Congress and will support U.S. climate commitments. Since 2022, the […]
Announcement of Pledge to Second Replenishment of the Green Climate Fund
WASHINGTON — Today, the Biden-Harris Administration announced the United States’ multi-year pledge of $3 billion for the Green Climate Fund (GCF) for its Second Replenishment (GCF-2), 2024-2027. “Today’s pledge sends a critical signal at COP28 that the United States is committed to playing a leading role in helping emerging markets and developing economies mitigate greenhouse gas emissions and adapt […]
OCC Solicits Research on Depositor Behavior, Bank Liquidity, and Run Risk
WASHINGTON—The Office of the Comptroller of the Currency (OCC) is soliciting academic research papers on depositor behavior, bank liquidity, and run risk in the banking system for submission by January 15, 2024. The OCC will invite authors of selected papers to present to OCC staff and invited academic and government researchers at OCC Headquarters in […]
OCC Publishes 2024 Assessments for National Banks and Federal Savings Associations
WASHINGTON—The Office of the Comptroller of the Currency (OCC) is publishing its assessment rates for the 2024 calendar year. The OCC is maintaining the 2023 rates in the general assessment, independent trust, and independent credit card fee schedules, and is not adjusting assessment rates for inflation. The OCC continues to pursue efficiencies to ensure that […]
OCC Releases CRA Evaluations for 42 National Banks and Federal Savings Associations
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of November 1, 2023, through November 30, 2023. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The […]
Treasury Imposes Additional Price Cap-Related Sanctions
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is imposing sanctions on three entities and identifying as blocked property three vessels that used Price Cap Coalition services while carrying Russian crude oil above the Coalition-agreed price cap. These sanctions build on Treasury’s previous actions in October and November […]
Treasury Releases Proposed Guidance to Continue U.S. Manufacturing Boom in Batteries and Clean Vehicles, Strengthen Energy Security
WASHINGTON – Today the U.S. Department of the Treasury and Internal Revenue Service (IRS) released proposed guidance on the clean vehicle provisions of the Inflation Reduction Act (IRA) that are lowering costs for consumers, spurring a boom in U.S. manufacturing, and strengthening energy security by building resilient supply chains with allies and partners. Since the […]
Treasury Sanctions Former Guatemalan Government Official for Engaging in Public Corruption
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Luis Miguel Martinez Morales (Martinez) for his role in corruption in Guatemala wherein he engaged in widespread bribery schemes, including schemes related to government contracts. Martinez is being designated pursuant to Executive Order (E.O.) 13818, which builds upon and implements the Global […]
OCC Issues First and Second Quarter 2024 CRA Evaluation Schedule
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first and second quarters of 2024. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should […]