Federal financial institution regulatory agencies today jointly issued a final policy statement on commercial real estate loan accommodations and workouts. The updates reinforce and build on existing supervisory guidance calling for financial institutions to work prudently and constructively with creditworthy borrowers during times of financial stress. The statement is substantially similar to a proposal issued […]
Category Archives: U.S. Treasury
Treasury Department Announces Approval of Up to $86 Million to Support Small Business Success in Mississippi as Part of President Biden’s Investing in America Agenda
Plans for over $8 billion in State Small Business Credit Initiative funding have been approved to support small business and entrepreneurship in communities across the nation WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of Mississippi’s state plan for up to $86 million in funding under the American Rescue Plan’s […]
Remarks by Assistant Secretary for Financial Institutions Graham Steele at Event Hosted by the Brookings Institution’s Assessing Insurance Regulation and Supervision of Climate-Related Financial Risk
As Prepared for Delivery Introduction Thank you, Carlos. It is my pleasure to be with you all today, both those in the room and watching virtually. As the Assistant Secretary for Financial Institutions, my portfolio includes developing the Department’s policy views on banks, credit unions, consumer protection, access to capital, and financial sector cybersecurity matters. […]
OCC Reports Improvement in Mortgage Performance for First Quarter of 2023
WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported an improvement in the performance of first-lien mortgages in the federal banking system during the first quarter of 2023 compared to the previous quarter. The OCC Mortgage Metrics Report, First Quarter 2023 showed that 97.6 percent of mortgages included in the report were current and […]
Treasury Releases Analysis of the Boom in U.S. Construction of Manufacturing Facilities Driven by Invest in America Agenda
WASHINGTON — Today, the U.S. Department of the Treasury’s Office Economic Policy released an analysis of the surge in construction spending for manufacturing in the United States. Since the end of 2021, and the passage of President Biden’s Invest in America Agenda – Infrastructure Investment and Jobs Act (IIJA), Inflation Reduction Act (IRA), and CHIPS […]
Treasury’s Federal Insurance Office Releases Report Assessing Climate-Related Risk, Gaps in Insurance Supervision
Report builds on broader efforts FIO is undertaking to assess impact of climate risk on insurance industry Today, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) released a report entitled, Insurance Supervision and Regulation of Climate-Related Risks. The report, which is in response to President Biden’s Executive Order on Climate-Related Financial Risk, assesses climate-related issues […]
Remarks by Deputy Secretary of the Treasury Wally Adeyemo at White House Call Announcing Interagency Community Investment Committee One-Year Action Report
Alongside the action report, ICIC announces new slate of actions to strengthen interagency efforts to invest in underserved communities Deputy Secretary Adeyemo currently serves as Chair of the Committee WASHINGTON – Today, Deputy Secretary of the Treasury Wally Adeyemo delivered remarks on a call with representatives from the Office of the Vice President and Domestic […]
Treasury Sanctions Illicit Gold Companies Funding Wagner Forces and Wagner Group Facilitator
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned four companies and one individual connected to the violent Russian military group PMC Wagner (Wagner Group) and its founder and owner Yevgeniy Prigozhin, previously sanctioned by the United States, the European Union (EU), Canada, and the United Kingdom (U.K.). The […]
Acting Comptroller of the Currency Kicks Off Summer High School Scholars Internship Program
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today kicked off the fifth year of the Office of the Comptroller of the Currency’s (OCC) summer High School Scholars Internship Program (HSSIP). In partnership with the District of Columbia’s Department of Employment Services Summer Youth Employment Program, the OCC recruits rising seniors and recent high school […]
Treasury Department Announces First State Small Business Credit Initiative Awards to Tribal Governments for Small Businesses, Part of Biden Administration’s Investing in America Agenda
Federal funding through the State Small Business Credit Initiative represents the largest and most expansive one-time investment for Tribal governments for small business financing Today’s announcement is a key part of the Biden-Harris Administration’s historic investments in Indian Country, detailed in a new White House fact sheet WASHINGTON — Today, the U.S. Department of the […]