Treasury Announces Approval of Up to $353.4 Million to Support Small Business Success Across Four States

These State Small Business Credit Initiative funds are awarded to Delaware, Kentucky, Tennessee, and Wyoming to support local small business financing and investment programs   WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of four additional state plans for up to $353.4 million in funding under the State Small Business Credit […]

Remarks by Secretary of the Treasury Janet L. Yellen at Roundtable with U.S. and Indian Tech Business Leaders

As Prepared for Delivery Thank you very much for joining me. One of the most rewarding parts of my job is meeting with innovators, entrepreneurs, and business leaders across the globe. That is especially true in India, which has one of the most dynamic economies in the world.As President Biden has said, India is an indispensable […]

READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Finance Minister of Japan, Shunichi Suzuki

BENGALURU – Today, Secretary of the Treasury Janet L. Yellen met with Finance Minister of Japan Shunichi Suzuki. Secretary Yellen affirmed the importance of continued close collaboration in support of Japan’s G7 host year. The Secretary also discussed key G7 and G20 agenda items including Ukraine assistance and debt in vulnerable and low-income economies. Secretary […]

READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Deputy Prime Minister of the Republic of Korea Choo Kyung-ho

BENGALURU – Today, Secretary of the Treasury Janet L. Yellen met with Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea Choo Kyung-ho. Secretary Yellen discussed macroeconomic and climate-related priorities. They also underscored the continued importance of the bilateral relationship. Related posts: Taxpayers Should File Taxes by July 15th or […]

Agencies Issue 2022 Shared National Credit Program Review

The federal bank regulatory agencies today reported in the 2022 Shared National Credit (SNC) report that credit quality associated with large syndicated bank loans improved in 2022, but  noted the results do not fully reflect increasing interest rates and softening economic conditions that began to impact borrowers in the second half of 2022. Overall, the […]

FACT SHEET: Disrupting and Degrading – One Year of U.S. Sanctions on Russia and Its Enablers

The United States, along with an international coalition of over 30 allies and partners, has imposed sweeping sanctions, export controls, and other economic measures since the start of Russia’s unprovoked war against Ukraine. Since February 2022, these measures have made it harder and costlier for the Kremlin to obtain the capital, materials, technology, and support […]

Statement by Secretary of the Treasury Janet L. Yellen on Suspension of Russia from the Financial Action Task Force

WASHINGTON – Today, the Financial Action Task Force (FATF), the international standard-setting body on illicit finance, suspended the Russian Federation from its membership. This is the first time in the FATF’s 34-year history that the body has taken such unprecedented action, a step warranted by Russia’s unlawful, immoral, and unprovoked war against Ukraine. FATF members […]

Targeting Key Sectors, Evasion Efforts, and Military Supplies, Treasury Expands and Intensifies Sanctions Against Russia

Actions Taken in Coordination with G7 Metals and Mining Determination Enables Targeting of Putin Revenue Source Wide Array of Evasion-Related Targets Exposed WASHINGTON – Today, one year after the Russian Federation launched its unprovoked war against Ukraine, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking significant action to diminish […]

Remarks by Secretary of the Treasury Janet L. Yellen During Press Pool Spray with UK Chancellor Jeremy Hunt

As Prepared to Delivery I welcome my first in-person meeting with Chancellor Hunt.  The U.S.-UK relationship is extremely strong, and our Treasuries are working closely together to advance a number of shared objectives.  In particular, we’ve worked hand-in-hand over the last year to respond to Russia’s unprovoked invasion of Ukraine. We are continuing to impose significant […]

Agencies Issue Joint Statement on Liquidity Risks Resulting from Crypto-Asset Market Vulnerabilities

Federal bank regulatory agencies today issued a joint statement highlighting liquidity risks to banking organizations associated with certain sources of funding from crypto-asset-related entities and some effective practices to manage those risks. Recent events in the crypto-asset sector have underscored the potential heightened liquidity risks presented by certain sources of funding from crypto-asset-related entities. The […]