Action Taken in Coordination with the Republic of Korea and Japan WASHINGTON — In coordination with the Republic of Korea and Japan, the United States sanctioned two individuals and one entity—Jon Jin Yong, Sergey Mikhaylovich Kozlov, and Intellekt LLC—involved in generating revenue for the Democratic People’s Republic of Korea’s (DPRK) unlawful development of weapons of […]
Category Archives: U.S. Treasury
OCC Allows National Banks and Federal Savings Associations in Georgia, South Carolina and North Carolina Affected by Hurricane Idalia to Close
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Georgia, South Carolina and North Carolina affected by Hurricane Idalia. In issuing the proclamation, the OCC expects that only those bank offices […]
OCC Hosts Compliance and Operational Risk Workshops in Santa Ana
WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host two workshops in Santa Ana, California, on October 3-4 for directors, senior management, and other key executives of national community banks and federal savings associations. The Compliance Risk: Understanding the Rules workshop on October 3 focuses on the critical elements of an […]
OCC Issues Fourth Quarter 2023 and First Quarter 2024 CRA Evaluation Schedule
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the fourth quarter of 2023 and first quarter of 2024. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. […]
Acting Comptroller Issues Statements at FDIC Board Meeting on Proposals to Improve Financial Stability and the Resolvability of Large Banks
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued statements at the Federal Deposit Insurance Corporation Board Meeting in support of proposed rulemakings to improve financial stability and the resolvability of large banks. In his statements, Mr. Hsu discussed his support for proposed rules to establish a long-term debt requirement for large banks with […]
Agencies Request Comment on Proposed Rule to Require Large Banks to Maintain Long-Term Debt to Improve Financial Stability and Resolution
Federal bank regulatory agencies today requested comment on a proposal that would require large banks with total assets of $100 billion or more to maintain a layer of long-term debt, which would improve financial stability by increasing the resolvability and resiliency of such institutions. This proposal follows an advance notice of proposed rulemaking issued in […]
OCC Allows National Banks and Federal Savings Associations in Florida Affected by Hurricane Idalia to Close
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Florida affected by Hurricane Idalia. In issuing the proclamation, the OCC expects that only those bank offices directly affected by potentially unsafe […]
U.S. Department of the Treasury, IRS Release Guidance on Inflation Reduction Act Provision to Ensure Good-Paying Clean Energy Jobs, Expand Clean Energy Workforce
Guidance completes Phase 1 of Treasury Department Inflation Reduction Act Implementation, advances President Biden’s Investing in America agenda WASHINGTON — As part of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) today released proposed rules and FAQs on key provisions in the Inflation Reduction Act […]
OCC Hosts Minority Depository Institutions Advisory Committee Meeting September 12
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, September 12, 2023. The meeting, which will be hosted in person and virtually, is open to the public and will begin at 1:00 p.m. Eastern Daylight Time (EDT). […]
Remarks by Secretary of the Treasury Janet L. Yellen on Press Call with Vice President Kamala Harris on Benefits of Unions to the U.S. Economy
As Prepared for Delivery Thank you, Madam Vice President. You’ve been an advocate for workers throughout your time in California and in this Administration, especially through your leadership of the Task Force on Worker Organizing and Empowerment. The Biden-Harris Administration is focused on investing in our economic strength, and supporting American workers is at the […]