G7 Finance Ministers and Central Bank Governors Meeting Communiqué

18 -20 May 2022, Petersberg, Germany Preamble We, the G7 Finance Ministers and Central Bank Governors, met on the Petersberg on 18-20 May 2022, joined by the Heads of the International Monetary Fund (IMF), World Bank Group, Organisation for Economic Cooperation and Development (OECD), and Financial Stability Board (FSB). We agreed on concrete actions to […]

Treasury Targets Hizballah Financial Network’s Abuse of the Business Sector

WASHINGTON – Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Ahmad Jalal Reda Abdallah, a Lebanese businessman and Hizballah financial facilitator, as well as five of his associates and eight of his companies in Lebanon and Iraq. This action illuminates Hizballah’s modus operandi of using the cover of seemingly legitimate […]

Treasury Announces First State Small Business Credit Initiative Awards to Support Underserved Entrepreneurs and Small Business Growth in Key Industries

WASHINGTON — Today, the U.S. Department of the Treasury announced the first group of plans approved under the new round of the State Small Business Credit Initiative (SSBCI). The American Rescue Plan reauthorized and expanded SSBCI, which was originally established in 2010 and was highly successful in increasing access to capital for traditionally underserved small […]

Acting Comptroller Issues Statement on Passing of John W. Ryan, President and CEO of the Conference of State Bank Supervisors

News Release 2022-57 | May 18, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu issued the following statement on the passing of John W. Ryan, President and CEO of the Conference of State Bank Supervisors (CSBS). I was deeply saddened to hear of the death of John W. Ryan, President and CEO […]

U.S. Department of the Treasury Welcomes IFI Action Plan to Address Food Insecurity

WASHINGTON – Today, the U.S. Department of the Treasury welcomed the IFI Action Plan to Address Food Insecurity developed by the Asian Development Bank (ADB), the African Development Bank (AfDB), the European Bank for Reconstruction and Development (EBRD), the International Fund for Agricultural Development (IFAD), the Inter-American Development Bank (IDB), the International Monetary Fund (IMF) […]

Transcript of Press Conference from Secretary of the Treasury Janet L. Yellen in Bonn, Germany

Thank you for being here. This has been a very productive week already, and I am looking forward to the G7 Ministerial here in Bonn this week. First, I’d like to thank Minister Lindner for his leadership. I have spent the week in Warsaw and Brussels before arriving here in Bonn. The backdrop against this […]

READOUT: Deputy Secretary Adeyemo Convenes Roundtable Discussion to Develop a Modernized, Equitable IRS

WASHINGTON—Today, U.S. Deputy Secretary of the Treasury Wally Adeyemo convened a roundtable discussion with key tax and equity policy stakeholders on ways to modernize and ensure a more equitable tax administration in the years ahead. Together with leaders joining virtually and in-person, Deputy Secretary Adeyemo focused on the IRS’s increased role as a benefits administrator […]

Agencies Announce Public Meeting on the Proposed Acquisition by The Toronto-Dominion Bank of First Horizon Corporation; Public Comment Period Extended

News Release 2022-56 | May 17, 2022 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemOffice of the Comptroller of the Currency The Federal Reserve Board (Board) and the Office of the Comptroller of the Currency (OCC) today announced a joint public meeting on the proposal by The Toronto-Dominion Bank, Toronto, Ontario, […]

Agencies Announce Public Meeting on Proposed Bank of Montreal Acquisition of BancWest Holding Inc. and Bank of the West; Public Comment Period Extended

News Release 2022-55 | May 17, 2022 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemOffice of the Comptroller of the Currency The Federal Reserve Board (Board) and the Office of the Comptroller of the Currency (OCC) today announced a joint public meeting on the proposal by Bank of Montreal, Montreal, Canada, […]

Acting Comptroller Discusses Risk Management

News Release 2022-54 | May 17, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of risk management in remarks at Bloomberg Risk & Regulation Week 2022.  In his remarks, the Acting Comptroller encouraged banks to assess exposures and adjust risk profiles ahead of potential uncertainty and volatility in […]