The United States commends Sudan’s Civilian-Led Transitional Government (CLTG) for moving forward with reforms that will help restore economic stability, advance the country’s efforts to secure debt relief, and ultimately improve the economic prospects of its citizens. In recognition of the progress Sudan has made, yesterday Treasury provided same-day bridge financing of approximately $1.15 billion […]
Category Archives: U.S. Treasury
OCC Reports Decline in Mortgage Performance for Fourth Quarter 2020
News Release 2021-38 | March 25, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system declined during the fourth quarter of 2020. The OCC Mortgage Metrics Report, Fourth Quarter 2020 showed that 93.3 percent of mortgages included in the report […]
Secretary Yellen’s Statement on the Confirmation of Wally Adeyemo as Deputy Secretary of the Treasury
My warmest congratulations to Wally Adeyemo, our new Deputy Secretary of the Treasury. The Senate confirmed him today in a broad bipartisan vote. Wally is everything the Treasury Department needs right now: He has spent his career working at the intersection of America’s national security interests and our economic ones. In the process, he’s become a […]
Financial Stability Oversight Council to Meet March 31
WASHINGTON – On Wednesday, March 31, Secretary Janet L. Yellen will preside over a meeting of the Financial Stability Oversight Council via videoconference. The agenda will include both an open and an executive session. The preliminary agenda for the open session includes climate change and its potential impacts on financial stability. The preliminary agenda for […]
Testimony of Kimberly A. Clausing, Deputy Assistant Secretary, Tax Analysis, Before the Senate Committee on Finance
Chairman Wyden, Ranking Member Crapo, Members of the Committee: Thank you for inviting me to share these views on the international aspects of business tax reform. International tax reform feeds into our most important tax policy goals: building a tax system that is fit for purpose, fair, and focused on the needs of all Americans. […]
Treasury Sanctions Military Holding Companies in Burma
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two military holding companies, Myanma Economic Holdings Public Company Limited (MEHL) and Myanmar Economic Corporation Limited (MEC). The Burmese military controls significant segments of the country’s economy through these holding firms, which enjoy a privileged position in the Burmese […]
Treasury and IRS Disburse Another 37 Million Economic Impact Payments from the American Rescue Plan
WASHINGTON – Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they are disbursing approximately 37 million payments in the second batch of Economic Impact Payments from the American Rescue Plan. This brings the total disbursed payments from the American Rescue Plan to approximately 127 […]
OCC Reports Fourth Quarter 2020 Bank Trading Revenue
News Release 2021-37 | March 23, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and savings associations of $6.3 billion in the fourth quarter of 2020. The fourth quarter trading revenue was $588.0 million, or 8.5 percent, less than the previous quarter. In the […]
OCC Hosts Minority Depository Institutions Advisory Committee Meeting April 13 Via Webinar
News Release 2021-36 | March 23, 2021 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, April 13, 2021, via webinar. The meeting is open to the public and will begin at 1:00 […]
Testimony of Secretary of the Treasury Janet L. Yellen, Before the Committee on Financial Services, U.S. House of Representatives
Chairwoman Waters, Ranking Member McHenry, members of the Committee, thank you for having me. We are meeting at a hopeful moment for the economy – but still a daunting one. While we’re seeing signs of recovery, we should be clear-eyed about the hole we’re digging out of: The country is still down nearly 10 million […]