Remarks by Under Secretary for Domestic Finance Nellie Liang at the Central Bank of Ireland Conference on Macroprudential Policy for Investment Funds

As Prepared for Delivery Thank you for the invitation and opportunity to speak to you today.  Both in the U.S. and globally, non-bank financial intermediaries have increased in significance and this trend has been going on for much longer than a decade. In particular, investment funds have grown significantly. According to data from the FSB, […]

Remarks by Assistant Secretary for Economic Policy (P.D.O.) Eric Van Nostrand on Housing Affordability: Economics and Policy Approaches

As Prepared for Delivery It is a pleasure to be here today to discuss the economics of housing affordability and the Biden Administration’s approach.  As Secretary Yellen’s chief economist, my responsibility is to consider the granular data underlying the structural challenges our economy faces and identify lessons to inform the policymaking process. Today, I’ll apply […]

READOUT: U.S. Treasury Meeting with Argentina’s Chief of Cabinet Nicolás Posse and Foreign Minister Diana Mondino

WASHINGTON – Today, Under Secretary of the Treasury for International Affairs Jay Shambaugh met with Argentina’s Chief of Cabinet Nicolás Posse and Foreign Minister Diana Mondino, accompanied by Ambassador Gerardo Werthein.  The Under Secretary commended the Argentine authorities for significant progress in reducing inflation, and discussed how the government is cushioning the burden of fiscal […]

Acting Comptroller Testifies on Agency Activities

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the Office of the Comptroller of the Currency’s (OCC) activities and four critical agency priorities before the Committee on Banking, Housing, and Urban Affairs of the U.S. Senate. In his testimony, Mr. Hsu discussed the condition of the federal banking system and recent regulatory initiatives. He also […]

Treasury Designates Sanctions Evaders Facilitating Illicit Arms Transfers between the DPRK and Russia

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is imposing sanctions on two Russian individuals and three Russia-based entities for facilitating weapons transfers between Russia and the Democratic People’s Republic of Korea (DPRK). This action promotes U.S. government objectives to disrupt and expose arms transfers between the DPRK […]

Treasury Announces 2024 National Illicit Finance Strategy

Strategy Highlights Recent Reforms to Close Loopholes Exploited by Illicit Actors; Recommendations Include Increasing Transparency, Leveraging Partnerships, and Supporting Responsible Technological Innovation  WASHINGTON – Today, the U.S. Department of the Treasury issued the 2024 National Strategy for Combatting Terrorist and Other Illicit Financing (2024 Strategy), which provides a blueprint of the U.S. government’s goals, objectives, […]

U.S. Department of the Treasury, IRS Release Additional Guidance to Boost American Clean Energy Manufacturing

Guidance Provides Additional Clarification Around Eligibility Determination for Domestic Content Bonus in the Inflation Reduction Act  WASHINGTON – Today the U.S. Department of the Treasury and Internal Revenue Service (IRS) released additional guidance on the Inflation Reduction Act’s (IRA) domestic content bonus, part of President Biden’s economic strategy to boost American manufacturing and iron and steel […]

Remarks by Deputy Secretary of the Treasury Wally Adeyemo at the Vice President’s Economic Opportunity Tour Event in Milwaukee, Wisconsin

As Prepared for Delivery Thank you for the kind introduction. It’s great to be here in Milwaukee with two leaders who have been indispensable to the most equitable economic recovery in American history—Acting Secretary Adrianne Todman and Vice President Kamala Harris. If you think back four years ago, Milwaukee then was very different from Milwaukee […]

Acting Comptroller Testifies on Agency Priorities

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the Office of the Comptroller of the Currency’s (OCC) priorities before the Committee on Financial Services of the U.S. House of Representatives. In his testimony, Mr. Hsu discussed the OCC’s work to guard against complacency, adapt to digitalization, manage climate-related financial risk, and promote fairness in banking. […]

Assistant Secretary for International Trade and Development Alexia Latortue on the Asian Development Bank Annual Meetings and Asian Development Fund Replenishment

WASHINGTON – The United States applauds the productive Annual Meetings of the Asian Development Bank (ADB) and welcomes the successful replenishment of the Asian Development Fund (ADF-14) and the Technical Assistance Special Fund (TASF-8).  The ADF supports the poorest and most vulnerable countries in Asia and the Pacific—including small island developing states in the Pacific—as […]