Existing Companies Have One Year to File; New Companies Must File Within 90 Days of Creation or Registration WASHINGTON – Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) began accepting beneficial ownership information reports. The bipartisan Corporate Transparency Act, enacted in 2021 to curb illicit finance, requires many companies doing business in […]
Category Archives: U.S. Treasury
Treasury Targets Network Financing Houthi Attacks on International Shipping
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated one individual and three entities responsible for facilitating the flow of Iranian financial assistance to Houthi forces and their destabilizing activities. Among those designated today is the head of the Currency Exchangers Association in Sana’a, and three exchange houses in […]
Statement of the Group of Creditors Of Ukraine
The representatives of the Group of Creditors of Ukraine (GCU) and the Government of Ukraine signed on December 21, 2023 an Amendment to the Memorandum of Understanding (MoU) on Debt Service Suspension of Ukraine concluded on September 14, 2022. This Amendment extends the Debt Service Suspension until the end of March 2027, corresponding to the […]
Statement from Secretary Yellen on President Biden’s Executive Order Taking Additional Steps With Respect to Russia’s Harmful Activities
WASHINGTON – Today, to further strengthen the U.S. Department of the Treasury’s tools to disrupt and degrade Russia’s war machine, President Biden issued a new Executive Order (E.O.) amending E.O. 14024 and E.O. 14068. This E.O. further targets Russian sanctions evasion and solidifies the U.S. commitment to the G7 Leaders’ Statement, making clear to foreign financial institutions […]
U.S. Department of the Treasury Releases Request for Information on Financial Inclusion
WASHINGTON – Today, the U.S. Department of the Treasury (Treasury) has released a request for information to inform its development of a national strategy for financial inclusion. Treasury was directed to develop a strategy to improve financial inclusion in the Joint Explanatory Statement accompanying the Financial Services and General Government Appropriations Act of 2023. The Treasury […]
U.S. Department of the Treasury, IRS Release Guidance on Hydrogen Production Credit to Drive American Innovation and Strengthen Energy Security
WASHINGTON – Today the U.S. Department of the Treasury and Internal Revenue Service (IRS) released proposed regulations on the Clean Hydrogen Production Credit established by the Inflation Reduction Act (IRA), part of President Biden’s Investing in America agenda and a key pillar of Bidenomics, which is creating good-paying jobs, strengthening energy security, spurring private-sector investment […]
Federal Bank Regulatory Agencies Release 2022 Small Business, Small Farm, and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2022. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate disclosure statements of small business and small farm […]
Treasury Tightens the Price Cap with New Sanctions and Updated Guidance
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) continued to tighten enforcement of the price cap on Russian oil by building on previous actions targeting shipowners and vessels implicated in transporting Russian crude oil above the cap. In line with actions previously taken by partners in the Price Cap […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Call with Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho of the Republic of Korea
WASHINGTON – U.S. Secretary of the Treasury Janet L. Yellen had a phone call with Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea Choo Kyung-ho. Secretary Yellen thanked him for the productive relationship during their shared time in office and shared that she looks forward to a similarly productive […]
Remarks by Deputy Assistant Secretary for International Financial Markets Nicholas Tabor on Digital Money in Seoul, South Korea
As Prepared for Delivery Thank you very much to the Ministry of Economy and Finance, the Bank of Korea, the Financial Services Commission, and the IMF for hosting me today. This conference is a timely opportunity, to discuss how best to ensure that monetary innovation supports a stable, well-functioning global financial system and economy. My […]