TJC LP, a middle-market private equity firm focused on North American businesses, has announced the closure of its second continuation fund at $2.1 billion. This fund extends The Resolute Fund III, L.P. and includes an asset jointly owned with The Resolute Fund IV, L.P.
Like many small New England cities, Fitchburg developed around a river and the mills it powered. The city struggled after the mills began closing in the mid- to late 20th century as manufacturing declined nationwide.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated Hilltop Youth, an extremist group in the West Bank, under Executive Order 14115. The group is accused of violent actions against Palestinians, including attacks on homes and property, which have destabilized the region.
The U.S. Department of the Treasury and IRS have announced that consumers have saved over $2 billion in upfront costs on the purchase of more than 300,000 clean vehicles since January 1, 2024. This announcement marks a significant milestone in the Biden-Harris Administration's efforts to reduce transportation costs for Americans.
The United States has taken further action against the Russia-based cybercriminal group Evil Corp, identifying and sanctioning additional members and affiliates. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated seven individuals and two entities associated with Evil Corp in coordination with the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and Australia’s Department of Foreign Affairs and Trade (DFAT).
In August, President Tom Barkin, Regional Executive Renee Haltom, and Regional Community Development Manager Jarrod Elwell met with local community and business leaders in Farmville, Virginia. The meeting aimed to understand the economic strengths and opportunities of the region as part of the Bank’s Community Conversations program.
The National Credit Union Administration (NCUA) has issued one consent and one prohibition notice in September 2024. The individuals named are permanently prohibited from participating in the affairs of any federally insured depository institution.
The United States has taken measures to protect U.S. campaign and government officials from Iranian attempts to interfere in U.S. elections. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated seven individuals as part of a coordinated response to Iran's operations aimed at influencing the 2024 and 2020 presidential elections.
The U.S. Department of the Treasury announced actions to disrupt Russian cybercrime services as part of an international effort. The Financial Crimes Enforcement Network (FinCEN) issued an order identifying PM2BTC, a Russian virtual currency exchanger linked to Sergey Sergeevich Ivanov, as a “primary money laundering concern” connected to illicit finance in Russia. Concurrently, the Office of Foreign Assets Control (OFAC) sanctioned Ivanov and Cryptex, a virtual currency exchange operating in Russia.
The Federal Reserve Bank of New York has introduced the Reference Rate Use Committee (RRUC), a new initiative aimed at supporting the integrity, efficiency, and resiliency in the use of interest rate benchmarks across financial markets. This includes benchmarks produced and administered by the New York Fed.
Richmond Federal Reserve Bank President Tom Barkin is scheduled to speak at the 2024 WilmingtonBiz Conference & Expo on October 2, 2024. The event will take place at the Wilmington Convention Center in Wilmington, North Carolina.
The Federal Reserve Bank of Cleveland has announced the appointment of Damjan Pfajfar as the new head of its Center for Inflation Research. In his role as vice president, Pfajfar will lead a team of economists focused on studying inflation and will spearhead efforts to enhance the center's resources for researchers, policymakers, and the public.
Thank you for the introduction. I’m very glad that I’m able to join you for this tenth annual Treasury Market Conference. This conference helps the government identify ways to further improve the functioning and resilience of the Treasury market, which is of course core to the functioning and resilience of the U.S. financial system as a whole. And this makes it a fitting place for me to share my thoughts on the work I and my colleagues across the Biden-Harris Administration have done to navigate financial stresses and strengthen the U.S. financial system over the past three...
Small businesses are foundational to the growth and prosperity of local communities and a cornerstone of the American economy. They drive innovation, job creation, and economic growth. According to the Federal Reserve's “2024 Report on Employer Firms: Findings from the 2023 Small Business Credit Survey,” small businesses continue to face challenges including increased operating expenses, attracting and retaining qualified talent, and access to credit.
U.S. Treasurer Chief Lynn Malerba visited the Mille Lacs Band of Ojibwe reservation in Minnesota to meet with Tribal leaders and community members. The visit focused on discussing Tribal general welfare, economic recovery efforts supported by the American Rescue Plan Act, and access to capital and banking.
On September 26, 2024, Laurie Schaffer, Acting Assistant Secretary for Financial Institutions at the Department of the Treasury, delivered remarks at the Electronic Transaction Association’s Annual Fintech Policy Forum. Schaffer addressed the role of artificial intelligence (AI) in financial services and highlighted both its potential benefits and risks.
Thank you to Bloomberg Philanthropies for hosting this second Partnership for Global Infrastructure and Investment (PGII) Investor Forum. I’m glad to be here with World Bank President Ajay Banga, my colleagues Jake Sullivan and Amos Hochstein, and with the business leaders who have helped drive progress on this partnership.
The G7 Cyber Expert Group (CEG), chaired by the U.S. Department of the Treasury and the Bank of England, has issued a statement addressing cybersecurity risks posed by quantum computing. The group highlighted the need for financial authorities and institutions to take proactive steps to mitigate these risks.
The U.S. Department of the Treasury has released new data showing that 3.3 million small business owners and self-employed workers were covered by Affordable Care Act (ACA) Marketplaces in 2022. This group accounted for 28% of all Marketplace enrollment for individuals aged 21-64.
On September 25, 2024, Under Secretary for Domestic Finance Nellie Liang addressed the Integrity Council for the Voluntary Carbon Market (IC-VCM), the Global Carbon Market Utility (GCMU), and the Voluntary Carbon Markets Integrity Initiative (VCMI) on the topic of voluntary carbon market integrity. In her remarks, she emphasized the importance of delivering high-integrity carbon markets to meet climate goals.
