WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking action against Hamas, targeting Gaza- and Lebanon-based leaders of the terrorist group’s offensive cyber and unmanned aerial vehicle (UAV) operations. Concurrent with this action, the European Union is imposing sanctions targeting Hamas. “Today’s joint action reinforces our continued, […]
Category Archives: U.S. Treasury
United States and United Kingdom Take Action to Reduce Russian Revenue from Metals
New Prohibitions Issued on Aluminum, Copper, and Nickel WASHINGTON — Today, the U.S. Department of the Treasury, in coordination with the United Kingdom, issued two new prohibitions to disrupt the revenue that Russia earns from its export of aluminum, copper, and nickel. This new action prohibits the import of Russian-origin aluminum, copper, and nickel into […]
Remarks by Under Secretary for International Affairs Jay Shambaugh on the U.S. Vision for Global Debt and Development Finance
As Prepared for Delivery Thank you, Peter, for the kind introduction. And thank you to Adam Posen and the Peterson Institute for International Economics for hosting me. In September last year, I laid out the U.S. Treasury Department’s views on how the IMF should respond to the macroeconomic and long-term challenges faced by low- and […]
Treasury Proposes Regulatory Update to Sharpen and Enhance CFIUS Procedures and Enforcement Authorities to Protect National Security
WASHINGTON — Today, the U.S. Department of the Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), issued a Notice of Proposed Rulemaking (NPRM) to enhance certain CFIUS procedures and sharpen its penalty and enforcement authorities. The proposed rule reflects CFIUS’s evolution and increased focus on monitoring, compliance, and enforcement. […]
Acting Comptroller Discusses Creating Economic Opportunity for New Americans
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the value of financial literacy for new Americans in remarks during the Financial Literacy and Education Commission’s Public Meeting. In his remarks, Mr. Hsu acknowledged that immigrants are important drivers of our economy, including through entrepreneurship and innovation; however, they are also more likely to […]
OCC Extends Comment Period for Proposed Rulemaking and Policy Statement on Bank Mergers
WASHINGTON—The Office of the Comptroller of the Currency (OCC) announced today that it will extend until June 15, 2024, the comment period on its proposal to update its rules for business combinations to allow interested parties more time to provide comments. The proposal also includes a policy statement to clarify the OCC’s review of applications […]
Remarks by Deputy Secretary of the Treasury Wally Adeyemo at Good Jobs Solar Summit
As Prepared for Delivery Thank you, General President Booker, and thank you to LiUNA, IBEW and IUOE for inviting me to join you today in recognition of the unprecedented growth we’re seeing across the solar industry and the importance of ensuring that clean energy jobs are good paying jobs. You are gathering at a pivotal […]
U.S. Department of the Treasury and IRS Release Proposed Guidance on Stock Buyback Excise Tax to Ensure Large Corporations Pay More of Their Fair Share in Taxes
WASHINGTON – Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) issued two Notices of Proposed Rulemaking (proposed regulations) on the stock buyback or “repurchase” excise tax included in President Biden’s Inflation Reduction Act, a key provision that helps ensure large corporations pay more of their fair share in taxes. As the […]
Treasury Renews Memorandum of Understanding and Cooperation in Cybersecurity with Ukraine
WASHINGTON – Today, the U.S. Department of the Treasury announced that it has signed memorandum of understanding and cooperation in cybersecurity with the National Bank of Ukraine. The Memorandum renews the shared understanding on cybersecurity and operational resilience, which has been in place since 2020. As a part of that effort, the Memorandum of Understanding […]
Remarks by Secretary of the Treasury Janet L. Yellen at a Press Conference in Beijing, the People’s Republic of China
As Prepared for Delivery Progress Over the Past Year I’d like to begin by speaking about the groundwork that we have laid over the past year. Last April, I outlined our Administration’s approach to our economic relationship with China. President Biden and I are clear-eyed about the complexities of this relationship. Our priorities include protecting […]