Treasury News
Treasury
Washington — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a Mexico-based money launderer and China-based members of a money laundering organization linked to the Sinaloa Cartel. This action is part of ongoing efforts to disrupt the flow of illicit narcotics into the United States, aligning with the President’s Unity Agenda.
Treasury
United States and India extend tax agreement in line with OECD-G20 framework
The United States and India have announced an extension of their agreement regarding the transition from India's existing Equalization Levy to a new multilateral solution agreed upon by the OECD-G20 Inclusive Framework. This announcement follows the historic agreement reached on October 8, 2021, between over 130 countries under the G20/OECD Inclusive Framework, which introduced a two-pillar package of reforms to the international tax framework.
Treasury
Financial Action Task Force concludes plenary under Singaporean presidency
The Financial Action Task Force (FATF), the global standard-setting body for anti-money laundering and countering the financing of terrorism and proliferation (AML/CFT/CPF), concluded its sixth and final Plenary under the Singaporean Presidency in Singapore today. During this session, several key actions were taken, including adopting Mutual Evaluation Reports (MERs) for India and Kuwait, agreeing to publish a report on non-financial gatekeeper facilitation of corruption, and discussing the priorities of the incoming Mexican FATF Presidency.
Treasury
Treasury releases final regulations for reporting digital asset transactions
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have released final regulations on reporting requirements for brokers of digital assets, as part of the Biden-Harris Administration’s implementation of the bipartisan Infrastructure Investment and Jobs Act (IIJA). These regulations align digital asset reporting requirements with those long established for traditional financial services.
Treasury
Treasury discusses U.S. economy performance with IMF
Earlier today, Secretary of the Treasury Janet L. Yellen met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva to discuss this year’s Article IV consultation with the United States. Secretary Yellen reiterated the importance of frank and thorough assessments of all IMF member economies through the annual surveillance process.
Treasury
Secretary Yellen addresses extreme heat financing at international event
On June 24, 2024, Secretary of the Treasury Janet L. Yellen delivered remarks on extreme heat financing, emphasizing the increasing severity and frequency of extreme weather events globally. She highlighted the importance of mitigating and responding to these events as a key priority for the Treasury Department, in collaboration with multilateral development banks (MDBs).
Treasury
Secretary Yellen discusses economic opportunities at Saint Paul roundtable
As Prepared for Delivery
Treasury
Yellen discusses economic strategy with CEOs at Target headquarters
U.S. Secretary of the Treasury Janet L. Yellen participated in a roundtable lunch at Target headquarters with Target CEO Brian Cornell and other CEOs from the Minnesota area to discuss President Biden’s economic strategy and efforts to lower costs.
Treasury
U.S. Treasury Assistant Secretary Alexia Latortue addresses annual meeting of African Development Bank
It is an honor to represent the United States of America at the 60th Annual Meeting of the African Development Bank in Nairobi, Kenya. Kenya has been an exemplary host and it is always a great pleasure to visit this dynamic country that represents the vibrancy and beauty of the continent, especially on the heels of the successful State Visit of H.E. President William Ruto to Washington, DC.
Treasury
US supports African Development Bank's $117 billion capital increase
WASHINGTON – The United States has expressed its approval of the successful Annual Meetings of the African Development Bank (AfDB) and joins all shareholders in endorsing a general callable capital increase (GCCI) of up to $117 billion. The AfDB is recognized as a key partner for the United States and its African counterparts in fostering prosperous, inclusive, resilient, and integrated development.
Treasury
Yellen outlines steps toward affordable housing during speech in Minneapolis
As Prepared for Delivery
Treasury
Yellen announces new initiatives targeting affordable housing expansion
In a speech delivered in Minneapolis, U.S. Secretary of the Treasury Janet L. Yellen announced new funding sources for housing production and urged further action by Congress, states, and localities. This initiative is part of the Biden Administration’s broader effort to reduce housing costs.
Treasury
Treasury targets shadow banking network aiding Iran's military
WASHINGTON — The Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions today on nearly 50 entities and individuals connected to a "shadow banking" network used by Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL) and Islamic Revolutionary Guard Corps (IRGC). This network has facilitated illicit access to the international financial system, processing billions of dollars since 2020.
Treasury
Yellen discusses economic growth initiatives at Metro Atlanta Chamber
Thank you all for coming today.
Treasury
Treasury releases semiannual report on foreign exchange policies
The U.S. Department of the Treasury has released its semiannual Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. The report, covering the four quarters through December 2023, reviewed and assessed the policies of major U.S. trading partners, which account for approximately 78 percent of U.S. foreign trade in goods and services.
Treasury
Yellen discusses economic policies with Mexican Finance Secretary
WASHINGTON – Secretary of the Treasury Janet L. Yellen called Mexican Finance Secretary Rogelio Ramírez de la O today to congratulate him on his re-appointment by Mexico’s President-elect Claudia Sheinbaum and to discuss Mexico’s economic policy options.
Treasury
Treasury announces sanctions against La Nueva Familia Michoacana cartel leaders
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned eight individuals linked to Mexico's La Nueva Familia Michoacana drug cartel, as announced by Secretary Janet L. Yellen in Atlanta, Georgia. These sanctions target those involved in trafficking fentanyl, cocaine, and methamphetamine into the United States.
Treasury
Treasury sanctions Kaspersky Lab executives over cybersecurity risks
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated twelve individuals in executive and senior leadership roles at AO Kaspersky Lab. This action aims to address continued cybersecurity risks associated with the organization.
Treasury
Final rules issued on wage requirements for inflation reduction act's clean energy projects
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final rules today on prevailing wage and registered apprenticeship (PWA) requirements under the Inflation Reduction Act. As part of the Biden-Harris Administration's Investing in America agenda, these rules aim to build a skilled workforce for the clean energy economy while ensuring that jobs in this sector are well-paying.
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