WASHINGTON – The Financial Stability Oversight Council (Council) today voted unanimously to issue for public comment a proposed analytic framework for financial stability risks. This new framework is intended to provide greater transparency to the public about how the Council identifies, assesses, and addresses potential risks to financial stability, regardless of whether the risk stems […]
Category Archives: U.S. Treasury
Remarks by Secretary of the Treasury Janet L. Yellen at Financial Stability Oversight Council Meeting
As Prepared for Delivery Our first agenda item is a discussion and votes on two proposals. The first is the Council’s proposed framework for financial stability risk identification, assessment, and response. The second is the proposed interpretive guidance on nonbank financial company designations. Before we turn to the presentation, let me first speak about how […]
Remarks by Under Secretary Brian Nelson at American Chamber of Commerce Austria Roundtable
As Prepared for Delivery Good afternoon and thank you to the American Chamber of Commerce Vienna for bringing this group of business leaders together to discuss the effects of sanctions on Russia and our strategic priorities to deny Vladimir Putin the revenue and supplies he needs to continue his unjust war against Ukraine. The multilateral sanctions regime on Russia is complex. Businesses […]
READOUT: Financial and Banking Information Infrastructure Committee Meets to Discuss Protection of U.S. Financial System
WASHINGTON—Today, U.S. Deputy Secretary of the Treasury Wally Adeyemo chaired a meeting with members of the Financial and Banking Information Infrastructure Committee (FBIIC) to discuss the group’s collective and individual cybersecurity efforts. The Deputy Secretary recognized the agencies’ work to monitor and harden their cyber defenses at a time of increased threats, including those arising […]
Remarks by Secretary of the Treasury Janet L. Yellen on the U.S. – China Economic Relationship at Johns Hopkins School of Advanced International Studies
As Prepared for Delivery Good morning, everyone. Dean Steinberg, thank you for your kind introduction. And thank you for your service to our country. I’m grateful for your contributions – not only during your time in government but here at SAIS. I’m particularly glad to be at this institution. SAIS has one of the oldest […]
Statement by the Secretary of the Treasury Janet L. Yellen on President Biden’s Announcement of new U.S. Funding to the Green Climate Fund
WASHINGTON, DC – Today, at the Major Economies Forum on Energy and Climate, President Joe Biden announced $1 billion in U.S. funding to the Green Climate Fund (GCF), the world’s largest climate and environment focused multilateral fund. The $1 billion doubles the total funding provided from the United States to the GCF, of which half is […]
Acting Comptroller Discusses Open Banking
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currency’s (OCC) approach to open banking in remarks at FDX Global Summit Spring 2023 in Raleigh, N.C. In his remarks, the Acting Comptroller highlighted the evolution of open banking and its potential impact on the OCC’s supervision in […]
Treasury Sanctions Three Nicaraguan Judicial Officials Involved in Human Rights Abuses
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three Nicaraguan judicial officials involved in human rights abuses conducted by the regime of Nicaraguan President Daniel Ortega and the broader oppression of Nicaraguan citizens who oppose his government. The three individuals designated today are judges or presiding magistrates […]
Treasury Sanctions Procurement Network Supporting Iran’s UAV and Military Programs
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated one individual and six entities in a sanctions evasion network that has facilitated Iran’s procurement of electronic components for its destabilizing military programs, including those used in unmanned aerial vehicles (UAVs). Particularly, this action targets the head of U.S.-designated […]
Treasury Disrupts International Money Laundering and Sanctions Evasion Network Supporting Hizballah Financier
Over Fifty Individuals and Companies Targeted Across Nine Countries in Coordinated Action WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a vast international money laundering and sanctions evasion network of 52 individuals and entities in Lebanon, the United Arab Emirates, South Africa, Angola, Côte d’Ivoire, the Democratic […]