WASHINGTON – The Financial Stability Oversight Council (Council) today unanimously approved its 2021 annual report. This year’s report describes activities of the Council over the past year, as the U.S. economy has continued to rebound from the disruptions caused by the COVID-19 pandemic. Monetary and fiscal policy, substantial progress in vaccinations, and broadly accommodative financing […]
Category Archives: U.S. Treasury
Joint Statement on UK-U.S. Financial Regulatory Working Group
UK and U.S. participants held the fifth meeting of the UK-U.S. Financial Regulatory Working Group (Working Group) virtually on 15 December 2021. The Working Group was formed in 2018 to deepen bilateral regulatory cooperation with a view to the further promotion of financial stability; investor protection; fair, orderly, and efficient markets; and capital formation in […]
Treasury Sanctions UPC Militia Leader in Central African Republic for Serious Human Rights Abuse
WASHINGTON — Today the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Ali Darassa (Darassa) for serious human rights abuses stemming from his leadership of the Central African Republic (CAR) based militia group, Union for Peace in the Central African Republic (UPC). UPC’s militants have killed, tortured, raped, and displaced thousands […]
Treasury Announces Social Impact Partnership to Pay for Results Act Grants for Oklahoma
$3.4 Million-plus Award Commitments Will Support Program Aiding those with Substance Use Disorder WASHINGTON — The U.S. Department of the Treasury has announced that it has awarded to the State of Oklahoma nearly $3.9 million in federal commitments to support Family and Children Services’ “Women in Recovery” (WIR) program, which provides alternatives to incarceration for […]
OCC Seeks Feedback on Principles for Climate-Related Financial Risk Management for Large Banks
News Release 2021-138 | December 16, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today requested feedback on draft principles designed to support the identification and management of climate-related financial risks at OCC-regulated institutions with more than $100 billion in total consolidated assets. The OCC will use this feedback to inform […]
OCC Assesses $1 Million Civil Money Penalty Against CommunityBank of Texas For Violations of the Bank Secrecy Act
News Release 2021-137 | December 16, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $1 million civil money penalty against CommunityBank of Texas, N.A., Beaumont, Texas, for violations of the OCC’s Bank Secrecy Act regulations. The OCC found that CommunityBank of Texas failed to adopt and implement a […]
Treasury Identifies Eight Chinese Tech Firms as Part of The Chinese Military-Industrial Complex
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) identified eight Chinese technology firms pursuant to Executive Order (E.O.) 13959, as amended by E.O. 14032. These eight entities actively support the biometric surveillance and tracking of ethnic and religious minorities in China, particularly the predominantly Muslim Uyghur minority in […]
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Tornadoes
News Release 2021-135 | December 15, 2021 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemConference of State Bank SupervisorsFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency The Office of the Comptroller of the Currency, Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union […]
Treasury and IRS Disburse Sixth Monthly Child Tax Credit to Families of 61 Million Children
With this latest monthly payment, since July, Treasury and the IRS will have delivered almost $93 billion dollars in direct payments to families. WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service distributed more than $16 billion in tax relief to the families of approximately 61 million eligible children as a […]
Secretary of the Treasury Janet L. Yellen Sends Letter to Congressional Leadership on the Debt Issuance Suspension Period Extension
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen sent a letter to members of Congressional leadership regarding an extension of the debt issuance suspension period (DISP). The full text of the letter is also available below. The Honorable Nancy Pelosi Speaker U.S. House of Representatives Washington, DC 20515 Dear Madam Speaker: On […]