By: Larry McDonald and Michael Pisa
Thursday, October 06, 2016
As finance officials from around the world gather in Washington for the annual meetings of the International Monetary Fund (IMF) and World Bank, facilitating continued access to the global financial system, including through correspondent banking relationships, remains an issue of shared interest.
Posted in:
By: Jamal El-Hindi
Monday, October 03, 2016
To fight money laundering effectively, an organization must have trained individuals at every level and provide those individuals with the proper resources and systems needed to carry out their compliance duties. Perhaps most importantly, compliance staff need support from the leaders of their organizations.
Posted in: FinCEN
By: Rob Runyan
Monday, October 03, 2016
Eight years ago today, the Emergency Economic Stabilization Act of 2008 became law, putting the Troubled Asset Relief Program (TARP) into effect. Over the months and years that followed, Treasury has managed this unprecedented program to stabilize the economy and strengthen the recovery in ways few thought possible on October 3, 2008.
Posted in: TARP
By: Mark J. Mazur
Monday, September 26, 2016
A progressive tax system – in which those with the highest incomes who are most able to pay taxes, pay a greater percentage of their income than those with lower incomes – has been a key principle of the American income tax system. However, in the years prior to 2008, changes in tax policy sharply reduced the progressivity of the tax code.
Posted in: Category 1
By: Dan Cruz
Wednesday, September 21, 2016
On Friday, September 23, 2016, the U.S. Treasury Department will host the Freedman's Bank Forum to explore ways to build an economy that works for all Americans. The Forum will be webcast live on the Treasury’s website, and we invite you join us.
Posted in: Financial Inclusion
By: Melissa Koide
Thursday, September 15, 2016
The Treasury Department’s Financial Empowerment Innovation Fund supports the development, testing, and evaluation of new products and services that make safe and affordable financial services available to more Americans. We are pleased to share today the results of a recent research contract that was funded by the Treasury Innovation Fund.
Posted in: Financial Empowerment Innovation Fund
By: Rob Friedlander
Thursday, September 15, 2016
Today marks eight years since the collapse of Lehman Brothers – a bankruptcy that sent shockwaves through the global financial system and helped thrust our economy into the worst recession since the Great Depression.
Posted in: Wall Street Reform
By: Jake Liebschutz and Amyn Moolji
Thursday, September 01, 2016
This blog post is the sixth
in a series on fixed income market dynamics by the Department of the Treasury
to share our perspective on the available data, discuss key structural and
cyclical trends, and reiterate our policy priorities. This post examines the non-residential
asset-backed securities markets.
Posted in: Fixed Income
By: Nathan Sheets, Adam Szubin, and Amias Gerety
Tuesday, August 30, 2016
Correspondent banking relationships serve as important arteries within the global financial system. By enabling money to flow both within and across economies, they improve livelihoods, bring more people into the financial system and foster global economic growth. These relationships enable banks to facilitate international trade, conduct cross-border business and charitable activities, send remittances, and provide access to U.S. dollar financing. They are essential to maintaining an inclusive and open financial system, and we are fully committed to safeguarding that system from abuse.
Posted in: Foreign Correspondent Banking
By: Dan Watson
Friday, August 26, 2016
We are writing to you and the other members of the Congressional Task Force on Economic Growth in Puerto Rico to underscore the urgency of putting in place policies that restore growth to Puerto Rico. We appreciate that Congress responded to our call for action by enacting the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) into law and are prepared to continue to work together to promote economic growth.
Posted in: Puerto Rico
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