Treasury Department Announces Inaugural Members of Formal Advisory Committee on Racial Equity

25-member committee will advise Secretary, Deputy Secretary on efforts to advance racial equity  WASHINGTON – In conjunction with today’s annual Freedman’s Bank Forum, U.S. Secretary of the Treasury Janet L. Yellen announced the inaugural members of the Treasury Advisory Committee on Racial Equity. The first-of-its-kind committee will provide advice and recommendations to Secretary Yellen and Deputy […]

Acting Comptroller of the Currency Issues Statement on FSOC’s Report on Digital Asset Financial Stability Risks and Regulation

News Release 2022-123 | October 3, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today released the following statement in support of the Financial Stability Oversight Council’s (FSOC) Report on Digital Asset Financial Stability Risks and Regulation. I would like to start by thanking Secretary Yellen, the member agencies, and all the […]

Treasury Takes Additional Sanctions Actions Across Bosnia and Herzegovina

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two individuals and one business entity in Bosnia and Herzegovina (BiH) pursuant to Executive Order (E.O.) 14033. These designations follow OFAC’s September 26, 2022 designation of a corrupt state prosecutor in BiH and build on other recent sanctions imposed […]

READOUT: Financial Stability Oversight Council Meeting on October 3, 2022

WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive and public sessions at the U.S. Department of the Treasury (Treasury). During the executive session, the Council heard presentations from the Federal Reserve and Commodity Futures Trading Commission staff on global financial […]

Remarks by Secretary of the Treasury Janet L. Yellen at Financial Stability Oversight Council Meeting October 3, 2022

As Prepared for Delivery On behalf of the entire Council, I’d like to express my thanks and appreciation for the hard work of our staffs. And I’d like to thank members of the Council for your attention and partnership on this effort. I know that there has been tremendous effort on this report since March. […]

READOUT: U.S. Department of the Treasury Hosts Discussion with Banks on Enhancing the Impact of Net-Zero Finance Commitments

WASHINGTON—Last Friday, the U.S. Department of the Treasury hosted a discussion with banks engaged in work on net-zero commitments.  Under Secretary for Domestic Finance Nellie Liang, Climate Counselor to the Secretary John Morton, and officials from across the Treasury Department engaged banks to better understand how they are setting, implementing, and accounting for net-zero targets.  […]

PRESS RELEASE: Financial Stability Oversight Council Releases Report on Digital Asset Financial Stability Risks and Regulation

WASHINGTON — The Financial Stability Oversight Council (Council) today released its Report on Digital Asset Financial Stability Risks and Regulation. The Council voted to approve the report in response to Section 6 of President Biden’s Executive Order 14067, “Ensuring Responsible Development of Digital Assets.” As called for by the Executive Order, the report reviews financial […]

PRESS RELEASE: Financial Stability Oversight Council Establishes New Climate-related Financial Risk Advisory Committee

WASHINGTON — Today, the Financial Stability Oversight Council (Council) established the Climate-related Financial Risk Advisory Committee (CFRAC) and named the initial slate of committee members.  The Council announced its plan to establish the CFRAC in its 2021 Report on Climate-Related Financial Risk, and today’s actions demonstrate the Council’s commitment to identifying, assessing, and responding to […]

Remarks by Secretary of the Treasury Janet L. Yellen at the Vermont Women’s Economic Opportunity Conference

As prepared for delivery   Hello, everyone. It’s great to be at Vermont Technical College. Institutions like these are the backbone of our communities. Senator Leahy, I’m grateful for your kind words. And I’m even more grateful for your leadership over your eight terms in the Senate. For decades, you have been a giant in […]

READOUT: Russian Elites, Proxies, and Oligarchs (REPO) Task Force Deputies Meeting

WASHINGTON – Treasury Deputy Secretary Wally Adeyemo and Deputy Attorney General Lisa O. Monaco today convened the Russian Elites, Proxies, and Oligarchs (REPO) Task Force Deputies to accelerate oligarch asset forfeiture efforts in response to Russia’s illegal war in Ukraine. Participants from Australia, Canada, the European Commission, France, Germany, Japan, Italy, the United Kingdom, and […]